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Can good driving earns rewards?

Updated: Sep 20, 2020

Become a Better Driver and Earn Rewards? Not Too Good to be True.

In a previous article, we discussed how you can avoid more expensive insurance rates. We all know that having a good driving record can prevent high monthly insurance bills. But how can you save more money by being a good driver? It seems that insurance companies only notice when we make mistakes on the road, no matter how rare they are. Fortunately, there is a way to gain more savings every month. A lot of insurance companies participate in a promotional good driver bonus or rewards program for their save drivers. One of the most popular insurance providers, Allstate, has 3 ways that you can be rewarded for good behavior.

Ways to Save

One is a bonus check given out for every six months of driving without an accident. This seems to be the most frequent reward of any provider. The next is the Allstate deductible which offers one hundred dollars off your accident deductible when you sign up and another one hundred for every year with no car crashes. The last program is a continuous reward of save driving challenges and other seasonal savings. Allstate is just one of the insurance vendors that offer the telematics device installation to prove your good driving record. Of course, as drivers, we know that a lot goes into being a good driver. You could avoid accidents and tickets but you could still brake frequently, speed, make hard stops, or travel late at night which are risky driving behaviors.

By putting this device in your car, the insurance company reads your driving activity and rewards good behavior. On top of monetary rewards from your insurance vendor, you can learn more about your driving habits and avoid future accidents and tickets, another win-win scenario. While some policy vendors believe that senior citizens are a liability on the road, even at just 50 years old, Geico has a different position. Drivers over the age of 50 with a safe driving record are now eligible to enter into a savings program. The drivers must be over the age of 50 and without accidents for the last three years of driving. While Geico’s programs differ from the rewards offered by Allstate, they have a program for a wide variety of driving demographics.

The Takeaway

You can save as a federal employee, good student, or even a child leaving their parents’ policy and getting their own. Progressive, another top choice for policyholders, has a loyalty program that rewards members for being insured and responsible drivers. Separate from a good driver bonus, the program offers rewards like discounts and accident forgiveness in exchange for policy loyalty.

This theme is going to continue to grow in the auto insurance world. If we are all safe drivers, then insurance companies spend less money on accident repair, car replacements, and accident forgiveness, etc. Essentially, the companies offering rewards programs are offering a win-win. Make sure you take a look at your quote options and make these reward programs a strong factor when choosing your insurance vendor.

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