If you are looking for ways to save money on your auto insurance, you can do things like evaluate your coverage, review your deductibles, combine different insurance policies, or take advantage of the numerous discounts The Hanover offers.
These discounts are many and they apply to different situations so you might find that some of them don't help you save money in the present but in the year from now they do. The Hanover has a handful of discounts for auto insurance including:
Car Related Discounts
Personal Trait Discounts
Discounts for Policyholders
Paid-in-full discount on new auto policies
The paid in full discount applies to new car insurance policies. This policy discount rewards you for paying your premium in full. When you sign up for new car insurance, or any insurance for that matter, you can choose the regularity of your installment payments, or pay for the entire year of coverage up front.
Many insurance providers will give a discount on your coverage if you pay the entire annual premium up front, and The Hanover is one of them.
Anti-theft devices discounts
The discount amount you receive is contingent upon the type of anti-theft protection devices you have, which state you live in, and what policy you have with The Hanover. These can include:
- things like a GPS device,
- scanning software that allows only you as the owner of the vehicle to open your car
- disabling devices to shut off fuel intake or lock the ignition or simply disable certain function if your vehicle is stolen
Having specific safety features on your vehicle can save you money. These features can include dual airbags or anti-lock brakes. Anti-lock brakes were only available on high-end vehicles in the 1970s but made their way into just about every car by the end of the 1980s. Some states like New York, New Jersey, and Florida actually require that insurance companies provide a discount for antilock brakes specifically.
In most situations, the number of airbags you have directly influences the percentage you get for your discount. The more airbags you have, the better off you will be.
Some of the more common safety features that can result in a discount on your auto insurance policy include daytime running lights that have been proven to help prevent head-on collisions, and automatic seat belts.
The features that are covered in your discount will vary based on where you live and what policy you have but in newer cars, they can include state of the art features like adaptive cruise control on newer vehicles, the type of cruise control that adjusts your speed to maintain a safe distance based on the traffic or the lane departure warning systems that use the built-in cameras to make sure you remain in your lane while driving. Other innovative systems include the collision avoidance systems.
Low Mileage discount
If you tend to stay at home, you could be eligible for the low-mileage discount with The Hanover, which rewards you for driving less often.
If you have more than one car insured with The Hanover, you can receive discounts based on the policies you have and the number of cars under your policy.
Prior carrier discount
Rewarding you for your loyalty, how long you've had your policy can bring with it discounts, even if you had a previous insurance provider and are switching to a new policy with The Hanover. In this situation, the cost of your new policy can be discounted based on how long you were a loyal customer of your previous insurance provider.
That longevity is indicative of how loyal a customer you will be for your new insurance provider as well and given that insurance companies are businesses just like any other, the longer you are likely to remain a loyal customer, the better it is for their business.
How many policies you have with The Hanover can determine your discounts. Combining policies under the same provider like home insurance and car insurance can save you money on both.
Discounts for Teenage Drivers
TeenSMART is a special driver’s education safety course available for your teen driver. Hanover Insurance indicates that the simulations combined with a real life scenario that are part of this course will decrease the chances of your teenager getting in an accident by 30% while also reducing the cost of their car insurance.
The parent choice option applies to your deductible. It's not a discount per se but it still helps you save money. By increasing your deductible you can reduce your premium on specific vehicles. The cars you do not want a teenage member of your household to drive can have a deductible increased to $2,500 using parent choice. Thereafter, if there is a claim involved in said car, the increased deductible applies only if your teenager was the one responsible.
Good student discount
The good student discount rewards students who work hard in school. From age 16 through 21, if your child maintains an average of all B’s or better, you get a discount.
Student away at school discount
When your student heads off to school leaving their car at home, this discount will save you money on the premium so long as your child is 21 or younger.
Overall, The Hanover offers many discounts for auto insurance whether you are a senior citizen, somebody who lives at home and rarely drives, or a commuter with teenagers in the house. Remember, too, that over the span of a few years, discounts that may not have applied to your policy could very well help you to save money now. The company is very clear that you can enjoy discounts on things like loyalty (how long you’ve had your policy) and good driving automatically and as these things improve so can the rate of the discount applicable to your policy.