Additional California Vehicle Insurance Discounts
Additional California Vehicle Insurance Discounts: The “good driver and student discount” may be among the most common and can reduce rates quite a bit, but there are others available that a person may not even be aware is offered. Some discounts are automatically applied by insurers for such things as owning a vehicle equipped with safety features or anti-theft devices; individuals who put an aftermarket anti-theft device may have to provide proof of installation such as a receipt to receive a discount. Another type of savings that may be available is by having two vehicles (multi-car) or an vehicle and home (multi-line) on the same policy.
The most recent way for Californians to save on vehicle coverage is the Pay-As-You-Drive option. The California Department of Insurance just recently approved two carriers to provide premiums based on the actual mileage driven rather than an estimate given by the insured. The option to purchase this type of coverage will be available beginning February, 2011 and will be offered by two carriers. One of the companies that is going to provide the pay-as-you-drive option estimates that approximately 25% of current policyholders will choose this coverage and will save customers around $31 million dollars; it is thought that savings would be in the 5% range.