Insurance companies offer auto insurance safety discounts as an incentive for keeping your car from being a danger to yourself and others but also from being stolen. The DMV and various insurance companies see it as a way of reducing the number of car accidents, casualties, fatalities and thefts.
The Basics of Auto Insurance Safety Discounts
Not all insurance companies offer auto insurance safety discounts and it is in your best interest to compare before you purchase. The type and application of safety features vary from one insurance company to the other. Ask your insurance broker or your insurance company directly about the type of safety features that many qualify for a discount. Also be sure to check the known safety features of your vehicle in the user manual or guide. If you are properly prepared you may be able to negotiate. Keeping up with new technologies and installing new safety features can also have a benefit and may allow you to renegotiate your policy, saving you more money for being safer on the road.
Safety features not only include protectives devices like seat belts, airbags, front and rear cameras, etc., but also those that reduce the likelihood of your vehicle being stolen. You may also find that better fuel economy features found in hybrids, low emission vehicles, or electric vehicles may also be included in this category.
Qualifying Features of Auto Insurance Safety Discounts
Certain insurance companies offer an auto insurance safety discount deducted from your premium based on certain added security features installed on your vehicle. This is the list of safety features provided by the DMV.org website.
- ABS (Anti-lock Brake System) – allows the car to maintain traction
- ESC (Electronic Stability Control) – Prevents loss of stability by detecting loss of traction
- Air Bags. Driver and passenger sides
- Automatic seatbelts
- Theft protection devices
- Stolen vehicle recovery systems (e.g. LoJack)
- Collision protection systems:
- Blind spot detection system
- Lane departure warning system
- Rearview backup cameras
- Emergency response systems
For car insurance companies, auto insurance safety discounts are a double whammy. This way they can see the number of claims sensibly reduced, which is not only great for their bottom line but is also a good way of not increasing their rates as much and as often, which is good for your bottom line. Offer a list of the safety features installed in your vehicle and ask your insurance broker to find the car insurance that offers the best discounts, all around.
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