Have You Asked Your Auto Insurer About These 4 Discounts?

Auto insurance provides vital protection for drivers' checking accounts and net worths. But that doesn't mean it's fun to see big auto insurance premiums show up on credit card statements every month.

The good news is, there are ways to save on getting the necessary coverage. In fact, drivers should ask their auto insurer about four potential discounts that could help them reduce their premium prices. Here's what they are.

1. Safe driving discount

A safe driving discount is one of the best ways to reduce the cost of auto insurance. It is usually available to motorists who have a clean driving record with no accidents or moving violations within the past several years.

Safe driving discounts can result in a premium reduction worth as much as 20% to 25%. This discount is a substantial one, because insurers price policies based on the perceived risk of an accident occurring. A driver who hasn't had a crash or any moving violations in a long time presents less of an accident risk than a motorist who is routinely cited for speeding or who has had several recent fender benders.

2. Employee/membership discount

Many insurance companies partner with specific employers or organizations to provide savings on auto insurance to those who work for or who are members of the company or group. For example, federal employees could save 12% on premiums with Geico through the insurer's Eagle Discount program.

Insurance companies typically publish a list of partner companies or groups so policyholders can check to see if they are affiliated with an organization that entitles them to savings. Those buying coverage or who already have policies in place should check this online list or ask the insurer if they may be eligible for any kind of savings.

3. Good student discount

Student drivers who have an average GPA above a certain range can typically qualify for a good student discount. The specifics of this can vary by insurance, but students will typically need to have around a B average or better.

A good student discount could result in around 15% savings with many insurers, as insurance companies tend to believe young people who do well in school are less likely to present a high risk of a crash.

4. Safety equipment discounts

When vehicles have advanced safety equipment, this reduces the chances of an accident. Anti-theft systems could also reduce the chance of theft occurring. And advanced safety features that protect motorists in case of a crash could reduce the chances the insurer would have to pay out a lot of money in case of serious injuries.

Since safety equipment lessens the likelihood of a large insurance claim for many reasons, it's not a surprise that discounts are available for safer cars. Drivers can find out how much they're able to save if they pick a safer car by getting insurance quotes for different vehicle models they're thinking about buying.

Those who are already covered should make sure their insurance company knows about all the safety equipment their car came equipped with.

By looking into these four options for discounted auto insurance, motorists may be able to save money on the coverage they need to protect against major financial loss when something goes wrong on the road.