Homeowner, marriage and credit discounts

Homeowner discount:

Available to: Drivers who own a home.

Caveats: Some insurers offer a discount for owning a home while other auto insurance providers reduce your base rate instead.

Length: Continual as long as you own a home.

Marital status discount

Average discount is 10 percent.

Available to:  Married motorists.

Caveats:  Sometimes it’s a reduction in your base rate instead of a discount.  Also, some insurance companies (in some states) offer same-sex married couples the same discount as heterosexual couples under the married discount or  under a certified civil-union discount. 

Length: Continual as long as you remain married.

Read more:  Does car insurance go down when you get married?

Good credit / financial stability discount

Available to: Drivers who insurers have determined to have an eligible (excellent) credit score. 

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Caveats: Typically a credit score of 700 or better will be seen as better risk for an insurer so a discount may be offered or it may lower your base rate amount. Some states do not allow insurers to take your credit score into account, so the discount may be unavailable. 

Length: Continual as long as your finances keep you eligible with the insurer.

Read more: The double-whammy of bad credit