Your personal insurance policies can have a wide range of discounts.

You can get discounts on your insurance for everything from having more then one policy with a company to being old enough to know better. Not all insurance companies automatically give these discounts so you have to ask to be sure that you are getting everything you deserve.

Personal policies have more discounts then business insurance. Business insurance will have discounts for items such as alarm systems, very high annual receipts, a history of no claims and higher deductibles. Business insurance is more likely to have ratings due to the type of business you are in (class) and often will have minimum premiums that will not budge.

Your personal insurance for your home and your cars or trucks often have lots of discounts available. There are more companies competing for your business and so you may find a company giving a higher total limit then another. Examples of maximum discounts could be anywhere from 35% to 60%. Like everything else in insurance, you need to ask the questions and have someone that you are working with who has your best interest in mind. Bear in mind that person could be you, if you are doing your insurance online.

Some examples of automobile policy discounts:

  • Renewal
  • Loyalty to the broker or agent
  • Claim-free driving record
  • Conviction/ticket-free driving record
  • More then one vehicle
  • More vehicles than drivers
  • Mature driver
  • After market alarm system
  • Occupation
  • Multi-policy
  • Driver experience
  • Short commute
  • Good credit score

When you look at your home or personal property policy the discounts can include:

  • Age of home
  • Occupation
  • Stability
  • No claims
  • Alarm system
  • Multiple policy
  • Mature owner
  • Good credit score
  • Loyalty to agent or broker
  • Mortgage free
  • Renewal

This is why it is so important to provide all the information when you are seeking a quote. One company can appear to be more expensive but since they allow more discounts the final price will actually end up costing less. When you look at the whole picture you also have to consider the different rates for adding on jewelery, fine arts, sporting equipment, watercraft and trailers. Talk to your agent or broker to be sure that you are getting good value for your hard-earned money.