Insurers may apply discounts for drivers or households with certain characteristics that have demonstrated lower frequency or severity of losses.
Before purchasing auto insurance, learn about the discounts your insurer may offer. Here are some common discounts to look for.
Most insurers offer a discount to customers who insure more than one vehicle with their company.
Industry statistics show that individuals and families insuring more than one vehicle have better claims experience.
Discounts for driver education courses are targeted primarily at younger and older drivers. Individuals may be able to lower their auto insurance premiums by voluntarily participating in a state-approved course.
Alaska law requires companies to give a discount to any primary driver who is over age 55 and who voluntarily completes a motor vehicle accident prevention course approved by the Division of Motor Vehicles. The discount must be applied for the three years following the successful completion of the course.
For more information on driver education programs, contact the Division of Motor Vehicles.
Many insurers have found that students who maintain a certain scholastic record tend to have fewer accidents. Check if your insurer offer a good student discount.
Companies may provide a discount to drivers who have been accident or violation-free for a number of years.
If your child is away at school and does not have access to a vehicle, your insurer may apply a discount to reflect the decreased possibility of a loss.
Devices or systems that deter theft or vandalism may also lower claim costs. Many insurers offer discounts for anti-theft devices such as security alarms, combination door locks, etc.
You insurer will probably use your vehicle identification number to identify items such as airbags, automatic seat belts, and anti-lock brakes. But additional discounts may be available for other safety features.
Insurers may offer a discount if they insure both your vehicle and home.