Fall On the Road

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Don’t miss out on these auto insurance discounts

There is seemingly no end in sight with regard to the rising costs of owning an automobile. From the cost of the car or truck itself to the high prices of fuel, drivers increasingly are on the hunt for ways to curtail the costs of owning an automobile. One way to save some cash is to take advantage of auto insurance discounts you may be eligible for.

Auto insurance company fulfillment is at record high. However, many discounts may still be available, even if drivers or their agents may overlook them. Fierce competition among insurance providers continually adds to the bevy of new discounts many are willing to offer to woo new customers.

According to Bankrate.com, which looked at the discounts offered by auto insurance companies, many companies now offer new discounts to remain competitive. If you haven't shopped around for auto insurance recently or have not revisited your current policy, you may be missing out on substantial savings.

• Daytime running lights: Four out of the 10 largest auto insurance companies now offer discounts if your vehicle has daytime running lights.

• Low mileage: Don't take the car out often? Such habits may earn you a reward. Around 80 percent of the major insurance companies offer discounts for low mileage. The insurance company may provide a mileage tracking device that will report back the actual miles driven to the company.

• Grades: Check with your insurance company if you have a student on the policy. His or her good grades may qualify you for a discount.

• Occupation: Your occupation also may entitle you to a discount on insurance. Insurance companies believe that people in certain occupations or those who spend a lot of time on the road may be less likely to take risks. Find out if your occupation qualifies.

• Alumni associations and clubs: Certain organizations have teamed with insurance providers to offer discounts to members. Therefore, if you are in a fraternal group, a credit union, an alumni association, or some other organization, you may eligible for certain discounts. Check with your insurance company for their affiliate groups, or contact the organization to which you belong for more information.

• Multiple policies: Many insurance companies will offer a discount if you group your policies together into a bundle. Having homeowner insurance, auto insurance and life insurance through one company, for example, can earn you a substantial discount.

Insurance companies have many other discounts available if you ask. For example, if your vehicle has an antitheft system or environmentally friendly components, you may be eligible for a discount. Customer loyalty, paperless billing, paying all your bill at once, being a current or former member of the military or if your vehicle is a new model year also may make you eligible for discounts that can drastically reduce the cost of your policy.