Auto Insurance Discounts

Ways to Save

If you qualify for some (or all) of these discounts, you could save even more:*

  • General Electric
    •   GE employee or Elfun member discount
    •   Payroll deduction program participation discount (for GE employees)
  • Employer and affinity group discounts
  • Accident-free discount
  • Antilock brake discount
  • Anti-theft devices discount
  • Driver training credit
  • Electric and Hybrid Vehicle discount
  • Good student credit
  • Low-annual mileage discount
  • New vehicle discount
  • Multi-policy discount
  • Married status discount
  • Mature driver accident prevention course discount
  • Multi-Policy
  • Paid-in-Full discount
  • Passive restraint discount
  • Plan Ahead (early purchase) discount
  • Safe driver discount
  • Student 100 or more miles away from home (without a vehicle)

* Discount and credit availability vary by state.

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Overview of Discounts and Credits

Please note that these descriptions are for information only; the availability of discounts and the coverages to which they apply vary by state. For exact coverage provisions, availability, terms, limitations, and exclusions, please contact Electric Insurance Company at 800.342.5342.

 

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Discount Applies to Coverage(s): Description
General Electric
Employee Discount
All coverages Applies to current GE employees
Elfun Member Discount
All coverages Applies to current GE Elfun society members; cannot be combined with the GE employee discount.
Payroll Deduction Program Participation Discount (for GE employees)
All coverages A payroll deduction program participation discount applies to auto insurance policies in all states with the exception of CA and NY (where no discount applies), and in AK and HI (where the payroll deduction program is not available). The discount will be pro-rated if the policyholder begins or ends participation in the program mid policy term; the discount will cease immediately if the policyholder dis-enrolls.
Accident-Free Discount/Safe Driver Discount All coverages Applies, up to a fixed maximum discount percent, based on the number of years the policyholder has been licensed or since the last accident/violation.
Antilock Brake Discount Bodily Injury and Property Damage Applies to private passenger autos equipped with a factory-installed, four-wheel, Anti-lock Braking System (ABS)
Anti-theft Devices Discount Comprehensive Applies to vehicles with active and/or passive alarms
Driver Training Credit Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision Applies to each youthful (under age 21) operator on the policy when satisfactory evidence is presented that such operator has successfully completed a driver education course.
Electric and Hybrid Vehicle Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision (and to Personal Injury Protection in MA) Applies to private passenger vehicles with an original factory-installed hybrid or electric engine. The vehicle must be certified for use on major roads and cannot be classified as a "Light Electric Vehicle". The discount applies each year the vehicle is on the policy. Vehicles are not eligible for the new vehicle discount in addition to the electric and hybrid vehicle discount. Please note this discount cannot be combined with the New Vehicle Discount.
Good Student Credit Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision Applies to full-time students, up to age 24, with a "B" or better average who meet the following criteria:
  1. Is in the upper 20% of his/her class scholastically, or
  2. Maintains a "B" average or its equivalent
  3. If the letter grading system cannot be averaged, then no grade can be below a "B".
  4. When in a school maintaining a numerical grade, the student must have at least a "3" is a "4, 3, 2, 1" point system or its equivalent.
  5. Student is included on a "Dean's List" or "Honor Roll" or comparable list indicating scholastic achievement.
Low-Annual Mileage Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive Applies if a vehicle is driven less than a specific number of miles (amount varies by state) annually; the credit varies based on daily commuting use.
Married Status Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision Applies if the rated driver is married and is not classified as a youthful (under age 21) driver.
Mature Driver Accident Prevention Course Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision Applies if the rated driver has completed a state-approved accident prevention course and meets state-specified age requirements
Multi-Policy Discount All coverages Applies if the policyholder has both an auto and home, condo or tenants policy with Electric Insurance Company
New Vehicle Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision (and to Personal Injury Protection in MA) Discount applies as follows: policyholders who own a private passenger auto receive a discount if the policy effective year minus the model year of the vehicle is less than three. When qualified vehicles are added to the policy mid-term, the discount will be applied to the pro-rated premium. The discount will diminish in the following manner until it no longer applies:
  1. When the policy effective year minus the vehicle's model year is less than zero: 7%
  2. When the policy effective year minus the vehicle model year equals zero: 7%
  3. When the policy effective year minus the vehicle model year equals one: 5%
  4. When the policy effective year minus the vehicle model year equals two: 3%
  5. When the policy effective year minus the vehicle model year equals three or more: 0%
The discount does not apply to vehicles receiving the Electric/Hybrid Vehicle Discount, to leased vehicles, or to vehicles without collision coverage.
Paid-in-Full Discount All coverages Policyholders will receive a 5% discount off all coverages when they are enrolled in the one-payment plan (paying full premium in one installment at the beginning of the policy term). The discount will cease immediately if the policyholder changes to anything other than a one-payment plan.
Passive Restraint Discount Medical Payments Applies to vehicles with seatbelts, airbags and other types of passive restraints.
Plan Ahead (early purchase) Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision (and to Personal Injury Protection in MA) Applies to new policyholders who have completed a full quote with premium from Electric Insurance Company between seven and 120 days (seven and 60 days in Florida) prior to the original effective date of their new Electric Insurance policy; qualifying policyholders may not have any lapses in coverage between policy terms. The discount is applied as follows: 7% first term; 5% second term and 3% third term; no discount applies thereafter.
Student 100 or More Miles Away from Home (without a vehicle) Discount Bodily Injury, Property Damage, Medical Payments, Comprehensive and Collision Applies when the named insured has a household family member who is on the policy, but who is away at school or in the armed services and is 100 miles or more away from home and does not have an auto.

 

* Product, service, and discount availability and limits vary by state. The information provided on this site is provided for informational purposes only and is not a full explanation of products, services or coverage. For more information, please contact Electric Insurance Company at 800.227.2757. If there are discrepancies between the information on this site and the policy, the terms in the policy apply.

 


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