The researchers examined 49 potential discounts available within every state in the country.
One of the most common methods that auto insurance companies use to remain competitive and to ensure that their current customers remain content with the service they are receiving and the price that they are paying for it is through discounts.
A new study has shown that the degree if discount based savings varies from one state to the next.
An analysis was conducted by Insure.com regarding the availability of 49 different types of discounts in each state, as well as the savings potential that they had to offer. They looked into a number of large auto insurance companies and brought in data associated with 24,988 potential discounts across the country.
They determined that discounts could shave a nice amount of money from an auto insurance premium.
Amy Danise, the editorial director for the company behind the study, said that “The right discount can knock hundreds of dollars off your car insurance bill.” However, she also pointed out “But some may not be worth switching companies for. Drivers should also take into account that an insurer offering a big discount might also have a high base rate. That means you might save less than you expected.”
The research determined that the greatest potential auto insurance discounts were available in Missouri, Wisconsin, Connecticut, and Indiana, where there were savings opportunities available to drivers in about 32 percent of the cases. On the other side of the scale, the lowest number of available discounts were in North Carolina and Hawaii. There, discounts were available only 13 and 14 percent of the time, respectively.
Among the best types of discounts that were available from among those that were researched by the auto insurance study were for: good students (among individuals younger than 25 years), low annual mileage, and marital status. However, the actual amounts of the savings that were provided through those discounts varied significantly by carrier. Though some of the companies allowed for savings greater than 25 percent, others provided savings in the single digits for the same type of discount.