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Score a “Mature Driver” Insurance Discount Smartmoney.com (blog)

31.08.11

Lured by insurance discounts, a growing number of older drivers are turning to online driving classes, as I reported on SmartMoney.com Monday . Older drivers who take one of these four-to-eight hour courses can often score anywhere from a 2 – 15% discount on their car insurance, depending on where they live.  For the average driver, a 15% discount would result in roughly $120 per year in savings (and since the typical discount lasts for three years, they’d save $360 in total).

But not all older drivers are taking advantage of this little-known perk, despite the fact that classes typically only cost about $20. (Just 60,000 older drivers signed up for AARP’s online driving course last year, for example.)  To that end, SmartMoney.com has put together a list of the states that mandate discounts on auto insurance for older drivers who take a driving course:

Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nevada, New Jersey, New Mexico, North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Washington D.C., West Virginia, and Wyoming.

Source:

How No-claims Bonus Affects Cheap Women#39;s bCar Insurance/b | Online10 b.../b

How No-claims Bonus Affects Cheap Women’s Car Insurance

A no-claims bonus, also known as no-claims discount, is the reduction in premium afforded to drivers as a reward for not making an insurance claim.

Drivers are awarded a discount according to the number of years they have been claim free and at the end of each year they earn a further discount. Whilst female drivers can already benefit from cheap women’s car insurance, a solid no-claims bonus is certainly not to be sniffed at. Typically five years no-claims bonus can be worth up to 75 per cent in discount depending on the insurance company.

Cheap women’s car insurance is all very well but a new female driver with zero years no-claims will still find that her premium is expensive. The no-claims discount is the reward insurers give to careful drivers, which rises incrementally, usually to a maximum of five years. Some insurance specialists will give additional discount for anything up to nine years no-claims bonus but these companies are in the minority.

Although each insurer is different, most no-claims bonus schemes work along the following guidelines:

1 year no-claims – 30 per cent discount 2 years no-claims – 40 per cent discount 3 years no-claims – 50 per cent discount 4 years no-claims – 60 per cent discount 5 years no-claims – 65 to 75 per cent discount

Sadly it is not the case that the discount is calculated at the end of the process once all other premiums have been taken into account. When it comes to calculating cheap women’s car insurance, an insurance company will factor into their equation not just the gender of driver but also their postcode, age, type of car and so on. Every insurer will weight their no-claims bonus differently which will vary according to the risk they are willing to take. This is why it’s a good idea to shop around for cheap women’s car insurance to see which insurer gives the best deal for years of no-claims.

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