When I’m speaking with my agent, what are the discount types I should ask about?
The usual discounts that will be considered by an insurance agent would be group, multiple cars, or decrease in coverage. Insurance rates can also go down because the value of your car depreciates. That is, unless it is a collector’s car or the market value remains high.
Group discount is when you get a group together and apply as a group. This is often done by companies and fleet owners. Individuals can do this as well if there is a common bond between the persons joining the group. For instance, a family group discount or a community organization with more than 5 members all agreeing to apply with the same insurance carrier.
Multiple Car insurance refers to one owner with several cars. You can request for either a lower rate or other possible options like a no increase for 2 years, etc. Discounts are more welcome from loyal customers so it would be a good idea to build a history with one insurance company if you want a sizable discount.