Personal Insurance Blog

The following are some of the discounts and credits available to you on your homeowner, auto and boat policies.  Bear in mind that not all carriers offer all discounts so be sure to check with your account representative to be sure that you are getting all that are available to you.

HOMEOWNER

Electronic Fund Transfer Discount-Monthly payments are automatically withdrawn from the insureds checking account.

Green or E Documents Discount- Insurance documents are delivered to the insured via email rather than mailed in paper form.

Account Credit- Applied when the personal auto is placed with the same carrier.

Alarm Discount-Credit for home alarms.  Smoke detectors, dead bolts, extinguishers, central station fire and/or burglar alarms, etc.

Paid in Full Discount- Applied when the annual premium is paid in full at inception.

Non-Smoker Discount-Applied when there are no smokers in the household.

College Education Discount-Some carriers apply a discount when the insured has any of various degrees of college education.

Loyalty Discount-Applied when the insured has been with the same carrier for a number of years.

Deductible Discount-Applied when a deductible is chosen for the policy that is higher than the standard.

AARP Discount-Some carriers apply a discount for members of AARP.

AUTOMOBILE

Multi-Car Discount-Applied when there is more than one vehicle on a policy.

Low Mileage Discount-Applied when vehicles are driven less than 5000 miles/year or between 5001 and 7500 miles/year.  Some carriers also offer a discount for higher mileages.

Driver Education Discount-Applied for various driver education courses ranging from the standard Driver Ed to advanced courses.

Good Student Discount-Student driver listed on the policy must maintain a B average or better.

Student Away Discount-Applied for a student listed on the policy is attending school over 100 miles from home.

Anti-Theft Discount, Lojack Discount-Applied for vehicles that have an alarm. Lower credits are offered for window etching and higher credits are available if the vehicle also contains a tracking device such as Lojack.

AAA Discount-Applied for insureds who are members of AAA.

AARP Discount-Applied for insureds who are members of AARP.

Safe Driver Discount-Varying degrees of credit based on the drivers’ SDIP ‘step’.

Electronic Funds Transfer Discount-Monthly payments are automatically withdrawn from the insureds checking account.

Green or E Documents Discount- Documents are delivered to the insured via email rather than mailed in paper form.

Account Credit-Applied when the homeowner policy is written with the same carrier.  However, some carriers only require that there be a homeowner policy in place, not necessarily with the same carrier nor the same agent.

Paid in Full Discount-Applied when the annual premium is paid in full at inception.

Deductible Discount-Applied when the insured maintains a deductible that is higher than the standard.

WATERCRAFT

Deductible Credit-Various credits depending on the amount of deductible on the policy.

Lay-Up Discount-Applied depending on the length of time the craft is ‘laid up’ i.e, not being used.

Anti-Theft Discount-Applied for various types of theft deterrents installed.

USCG or other Boating Education Credit-Applied when the operators of the craft have taken certain boating courses.  This credit is sometimes also applied if the operators have several years of boating experience.

Navigation Territory Discount-Credit is based on the territory where the craft is used – i.e., inland waters, coastal waters, New England, Florida, etc.

Contact us here at Gordon Insurance if you have any more insurance questions, and learn more about more other and home insurance discounts from some previous blogs!

-Green Discounts

-Four Possible New Driver Discounts

-The Biggest Insurance Discount