Five insurance discounts you should know about

Think you're paying too much for auto insurance? You're probably right.

According to Insureme.com, the average national price for a year of coverage is $1,429.26 or $714.63 every six months. If you're paying significantly more than that, it's time to reevaluate your policy; and a good place to start is by making sure the company you do business with has applied all the discounts you qualify for to your policy.

Auto insurance rates vary significantly, depending on which discounts you are offered. Since they aren't always automatic, it's up to you to make sure you're getting credit where credit is due.

Here are some ideas from Allstate on ways you can save money on auto insurance.

1. Combine your home and auto insurance policies

Most insurance companies offer bundle discounts. If you take out an auto policy with the same company that carries your homeowners or renters insurance coverage, you will likely qualify for a multiple policy discount. The more policies you have with a single company, the deeper the discounts.

2. Discounts for safe drivers

If you've had a clean record with no accidents or moving violations during the past three years, you can get a safe driver discount. Taking a defensive driving class is another way to qualify.

3. Discounts for safe cars

Does your car have airbags or factory-installed motorized seatbelts? How about anti-lock brakes or an anti-theft system? These safety features will all qualify you for a safe car discount. Newer model cars come equipped from the factory with many of these features. If your older model vehicle has them too, make sure you are getting the discount.

4. Discounts for students and seniors

If you're younger than 25 years old, single and a full-time student with a good GPA, you could be eligible for a "Good Student Discount." Seniors 65 and older can qualify for a discount that will reduce the cost of their personal injury protection (PIP).

5. Other discounts

Other lesser-known discounts you may qualify for include one for new cars, certain types of utility vehicles and farm or ranch vehicles used exclusively for work on your own property.

When requesting auto insurance quotes, making sure that all of the discounts you qualify for are considered will bring costs down significantly.

Courtesy of ARAcontent