What Insurance Discounts Are There for Safety Features in Your Vehicle?
Insurance companies offer a wide range of discounts to their customers. Taking advantage of them can help you save a significant amount of money on your monthly insurance bill. Most insurance companies offer discounts for cars that have safety features. Here’s are some of the most common safety feature discounts insurance companies offer.
Why Do Insurance Companies Offer Discounts for Safety Features?
When your insurer determines your premium, they will consider the financial risk they are taking to insure you. Insurance companies want to reward drivers who are least likely to get in accidents and file claims. When you have safety features on your car, you are statistically much less likely to get into an accident, which is why insurance companies can offer discounts. Investing in a car with safety features will not only protect you and your family, but it can actually save you money.
Most car insurance companies offer discounts for cars that have anti-lock brakes. When the wheel locks up, it is much more difficult for the car to stop, which can cause the driver to lose control of the car. Most car manufacturers started adding anti-lock brakes to their vehicles in the 1980s, and the government now requires car manufacturers to include them. New York, New Jersey, and Florida actually require insurers to offer an anti-lock brakes discount as well. Discounts for this feature vary depending on the insurer you use but usually are between 5 and 10 percent.
Electronic Stability Control
This is a very helpful safety feature that has been required for all cars in the US since 2012. This feature prevents the car from losing control and flipping over during a sharp turn. It’s particularly useful on slippery roads, where skidding can quickly drive the car off-center. Electronic sensors track the wheels and steering system and will automatically apply the brakes if the car starts to lose control or drive off-axis. Many insurance companies only offer this discount for customers that have collision coverage.
Airbags are very important for protecting vehicle passengers during a crash. They essentially provide a cushion that prevents passengers from impact with the dashboard. Airbags protect passengers from serious head injuries and spinal injuries, so the government has required front airbags on all cars since 1999. Most cars also have side airbags, and some even have airbags in the back of the car to prevent injuries for passengers in the back seat. Most insurers offer discounts for cars that have airbags. Generally, the more airbags your car has, the higher the discount you can get on your policy. These discounts are typically applied to personal injury protection coverage, although some providers may choose to apply it to your liability coverage instead. Discounts vary widely depending on what insurer you have – some insurers will offer anywhere between 25 and 40 percent off a full set of airbags.
Daytime Running Lights
Many cars have daytime running lights, which turn on automatically when the car starts. These lights are very useful for preventing collisions on rainy or snowy days when the weather is dark. Many manufacturers began adding these lights to their cars in the mid-90s. While the government doesn’t require them as a safety feature, they are very common. Some insurers will offer a small discount for cars that have these lights – usually anywhere between 1 and 5 percent.
Collision Avoidance Sensors/Cameras
Many modern vehicles have sensors and cameras to help you prevent collisions. For example, many cars have backup cameras to help you avoid collisions when backing into and out of parking spaces. Some vehicles also have sensors or cameras that will alert you if a car is in your blind spot and you are trying to change lanes. The most advanced sensors will alert you in other situations where a collision might happen – for example, if you’re driving too fast or too close to a car in front of you. These features make it much easier to drive safely. Since these advanced safety features are relatively new, not all cars offer them, and not all insurance companies offer a discount for them either. If you have these features on your car, be sure to ask your insurer if they can offer you a discount for them.
Adaptive Cruise Control
Adaptive cruise control is another advanced feature that some modern cars have. In the past, cruise control features would only keep the car at the same speed. With adaptive cruise control, the car uses sensors to assess the speed of nearby cars and match them. This type of cruise control also keeps your car a safe distance from other cars on the road. Very few cars have adaptive cruise control yet, but you may be able to get a discount on your insurance if your car has it.
When shopping for insurance, you should always ask your insurance company what type of discounts they offer and if they apply to you. You might be surprised by which car features can help you save some money. You should also make sure to compare different car insurance companies and the discounts they offer. Some insurers offer much more substantial discounts than others, which is why it’s so important to assess many different options before making a final decision.