Purchasing the lowest cost Moorhead car insurance over the internet can seem to be intimidating for consumers not familiar with price shopping online. With so many online companies available, how can anyone effectively compare every company to locate the cheapest available price?
What impacts Moorhead insurance rates?
Consumers need to have an understanding of the different types of things that play a part in calculating the rates you pay for car insurance. Knowing what influences your rates allows you to make educated decisions that will entitle you to big savings.
- Do you know your deductibles? – Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your car. Some instances where coverage would apply are running into the backend of another car, damage from fire, or theft. Physical damage deductibles are how much you are willing to pay out-of-pocket in the event of a claim. The more money you are required to pay out-of-pocket, the lower your rates will be.
- Do you need the policy add-ons? – There are quite a few extra bells and whistles that you can buy when buying car insurance. Coverages for vanishing deductibles, towing coverage and additional equipment coverage may be wasting your money. They may seem good initially, but now you might not need them so eliminate them to save money.
- Save money with special equipment – Purchasing a vehicle with a theft deterrent system can help bring down rates. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your vehicle from being stolen.
- Do you work long hours in a high stress job? – Did you know that where you work can have an impact on rates? Jobs such as judges, business owners and financial analysts are shown to have higher average rates due to stressful work requirements and long work days. Conversely, jobs such as pilots, engineers and homemakers pay the least.
- Frequent car insurance claims increase rates – If you frequently file small claims, you can pretty much guarantee either policy cancellation or increased premiums. Car insurance companies in Minnesota give discounts to policyholders who are claim-free. Your insurance policy is meant to be used in the event of the large, substantial claims.
- Being married can save on car insurance – Getting married actually saves money on your car insurance policy. Marriage usually means you are more responsible and it’s statistically proven that married couples file fewer claims.
- More performance means more cost – The type of vehicle you drive makes a substantial difference in how high your rates are. Economy passenger cars generally receive the lowest base rates, but other factors influence the final cost greatly.
Moorhead Car Insurance Prices Online
Finding a lower price on insurance can be relatively painless. Just invest a little time comparing rate quotes provided by online insurance companies. It is quite easy and can be accomplished in a couple of different ways.
- Probably the best way to compare a lot of rates at once would be an industry-wide quote request form like this one (opens in new window). This easy form eliminates the need for multiple quote forms for every car insurance company. A single form will return quotes direct from many companies. It’s the fastest way to compare.
- A slightly less efficient method to get comparison quotes requires a visit to the website for every company you want to comare and request a quote. For instance, let’s assume you want rates from Liberty Mutual, Progressive and GMAC. You would have to take the time to go to each site to input your insurance information, which is why the first method is more popular.
For a list of links to companies insuring cars in Moorhead, click here.
- The hardest way of comparing rate quotes is driving to local Moorhead insurance agencies. Buying insurance online eliminates the need for an insurance agent unless you prefer the professional guidance only provided by licensed Moorhead agents. It is possible to price shop your coverage online and get advice from an agent in your area and you’ll learn how to do that later.
Whichever method you choose, compare exactly the same coverage limits and deductibles for every quote you compare. If you have unequal deductibles or liability limits you can’t possibly determine which rate is truly the best in Moorhead.
Beware of misleading car insurance ads
Consumers can’t ignore all the ads for the lowest price auto insurance by Allstate, Geico and Progressive. All the ads make the same claim that you’ll save big if you change to their company.
But how can every company make the same claim? This is how they do it.
All companies are able to cherry pick for the driver that earns them a profit. For example, a driver they prefer could possibly be between 25 and 40, has no tickets, and has great credit. A customer who matches those parameters is entitled to the best price and as a result will probably save when they switch companies.
Potential customers who do not match these standards will be quoted more money and ends up with the customer not buying. The ads state “customers that switch” not “people who quote” save money. This is how insurance companies can make those claims. This emphasizes why you absolutely need to quote coverage with many companies. Because you never know which company will give you the biggest savings.
Don’t miss out on these money-saving discounts
Companies that sell car insurance don’t always advertise all their discounts very well, so we took the time to find both well-publicized and the more hidden discounts you could be receiving. If you don’t get every credit you deserve, you are paying more than you should be.
- Save with a New Car – Buying coverage on a new vehicle can save up to 30% compared to insuring an older model.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
- Homeowners Pay Less – Being a homeowner may trigger a car insurance policy discount because maintaining a house requires personal responsibility.
- Multiple Vehicles – Buying coverage for multiple vehicles on one policy could earn a price break for each car.
- Lower Rates for Military – Being on active duty in the military may qualify for rate reductions.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts could cut 10% or more off your PIP or medical payments premium.
- 55 and Retired – Older drivers can possibly qualify for better car insurance rates.
- Sign Early and Save – Some insurance companies reward drivers for switching policies prior to your current policy expiring. It can save you around 10%.
- Low Mileage Discounts – Low mileage vehicles can earn lower rates on the low mileage vehicles.
- Defensive Driver – Completing a driver safety course could cut 5% off your bill and easily recoup the cost of the course.
It’s important to note that some credits don’t apply to the entire cost. Some only reduce individual premiums such as comp or med pay. Just because it seems like you could get a free car insurance policy, companies wouldn’t make money that way.
For a list of providers with the best car insurance discounts in Minnesota, click here to view.
Buying car insurance locally
Some people just want to visit with an insurance agent and that is just fine! Insurance agents can help determine the best coverages and give you peace of mind. One of the best bonuses of price shopping on the web is that you can obtain the best rates and still choose a local agent.
By using this short form, the quote information gets sent to local insurance agents in Moorhead who will compete for your insurance coverage. You don’t have to visit any agencies due to the fact that quote results will go to your email. It doesn’t get any easier!
Choosing an provider requires more thought than just the price. Any agent should be forthright in answering these questions:
- How long have they worked with personal auto insurance coverage?
- If you have an accident, will your rates go up?
- Are they properly licensed to sell insurance in Minnesota?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Which insurance companies are they affiliated with?
- Does the agent have professional designations like CIC, CPCU or AIC?
- Can they give you a list of client referrals?
To select a specific agent in Moorhead, visit this site.
Once you have received positive feedback and an acceptable price quote, chances are good that you have found an insurance company that meets your needs to service your policy.
More tips and info about car insurance can be found at the Minnesota Department of Commerce website. Minnesota drivers can discover disciplinary actions, find out which companies have the most complaints, and view agent and company licensing information.
Other informative sites include QuoteClickInsure.com and CarInsuranceDIY.com.
Smart consumers save more
While you’re price shopping online, it’s very important that you do not buy less coverage just to save a little money. There are too many instances where drivers have reduced liability coverage limits only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase plenty of coverage for the lowest price while still protecting your assets.
Consumers switch companies for any number of reasons including unfair underwriting practices, high prices, being labeled a high risk driver or questionable increases in premium. It doesn’t matter why you want to switch finding a new company can be less work than you think.
We’ve covered many tips how you can lower your car insurance rates. The most important thing to understand is the more quotes you get, the better chance you’ll have of finding lower rates. You may even find the lowest priced car insurance comes from a lesser-known regional company.