Aside from the monthly payment, the "cost" usually associated with vehicle ownership is fuel. However, people often forget about the expense of insuring their vehicle. Most importantly, it seems like every insurance company touts the discounts they offer, but when looking for discounts it seems it's where you live rather than what company you use.
Residents of Missouri, Connecticut, Indiana and Wisconsin enjoy more discounts than any other state. Each of them enjoys the potential to save money more than 32 percent of the time, according to an Insure.com survey.
While tourist havens like Hawaii and North Carolina are famous for being vacation destinations, they'll not be earning the same level of acclaim as insurance havens as they came in last among the 50 states, plus Washington D.C. They offer lowest number of available discounts.
The survey analyzed the availability and savings potential of 49 discounts in every state for several large car insurance carriers, collecting data on 24,988 potential discounts nationwide.
"The right discount can knock hundreds of dollars off your car insurance bill," said Amy Danise, editorial director for Insure.com.
"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."
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The biggest discount of the many available was the "Good Student" discount for drivers younger than 25 years old. Marital status and low annual mileage also ranked highest for average savings. But the amounts can vary widely, with some auto insurance companies offering savings topping 25 percent while others offer single-digit savings for the same discount. The Good Student discount averaged a savings of 16 percent.