Everyone has heard the commercials for GEICO saying that you can save 15 percent or more on your car insurance. How exactly can they advertise this? Because they offer a wide range of discounts. Some of the discounts that GEICO offers on auto insurance are similar to other companies, but they also have additional discounts that you won’t find just anywhere. Understanding all of the discounts that GEICO offers will help you determine if they are the cheapest option for you.
Vehicle Safety Discounts
There are some discounts that GEICO offers that are related to the safety equipment that your vehicle may have. The more safety equipment you have on your vehicle, the bigger the discounts. Of course, this generally means that the newer your car is, the more likely you will qualify for these discounts. The safety features that they offer discounts for are fairly common in newer models.
The primary discounts you can get for vehicle safety features include:
- Airbag discount: You get an additional discount for each airbag installed in the vehicle. You can save up to 40 percent on some parts of your coverage depending on how many airbags you have.
- Anti-lock brakes: Anti-lock brakes are standard in newer models and can earn you a 5 percent discount.
- Anti-Theft and Alarm Systems: If your vehicle has a manufacturer built in anti-theft system or you have an alarm system professionally installed it can earn you a discount on your comprehensive coverage.
- Daytime running lights: If your vehicle has daytime running lights it is deemed safer and can earn you a discount on your car insurance.
Discounts for Safe Drivers
Many car insurance companies have discounts for safe drivers, and GEICO is no different. If you have been five years without any citations on your driving record, you may qualify for a discount. You can also get a discount if you have not had any accidents in five years. In addition to these discounts, GEICO has an accident forgiveness program. If you have an accident while getting the good driver discounts you can have one accident forgiven without your rates increasing.
Government and Association Discounts
GEICO partners with a number of government organizations, professional associations, and corporations to offer discounts to employees or members. All government employees can get a discount with GEiCO. Many corporations also partner with GEICO. If you are a government or corporate employee, check with your human resources department to see if any of these discounts might apply to you.
There are a number of other discounts that GEICO offers for both young and older drivers. These discounts are available upon request. Make sure that you ask your GEICO agent about these discounts if they apply to you.
- Seatbelt commitment: If all drivers on the policy commit to wearing their seatbelt, it can save you up to 15 percent on your premiums.
- Defensive driving courses: In some states you may be able to get a discount on your car insurance by taking a defensive driving course.
- Driver’s Education: Young drivers who complete a driver’s education course receive a discount from GEICO with a certificate of completion.
- Good grades: High school and college students who maintain good grades as well as a clean driving record could get a discount.
- Military Discount: GEICO does offer a discount for active duty military personnel and veterans.
- Multi-car discount: As with most car insurance companies, if you have multiple cars you can get a multi-car discount.
If it seems that any of these discounts may apply to you, ask your GEICO agent about the discounts available in your state. Most of these discounts are available in all states, although some states have specific rules about what car insurance companies can offer.
GEICO allows you to stack discounts to get the best rates. If you qualify for a number of the discounts offered by GEICO, you could wind up saving much more than 15 percent on your car insurance. If you have a good driving record, safety measures on your vehicle, multiple cars and drivers, and other available discounts, these can all add up to tremendous savings.
It is important to note that without the available discounts, GEICO may not be your cheapest option. Depending on your circumstances, it is generally a good idea to get several quotes on car insurance before making a decision on what company to have your policy with. It is possible that you may get a better deal elsewhere. Most online quotes do not take into consideration all of the potential discounts, however, so you may want to contact them directly for a detailed quote.