Paying for expensive car insurance can eat up your family’s budget and force you to tighten up your finances. Price shopping at each renewal is an excellent way to tighten up your finances.
Companies like GEICO and Progressive continually hit you with fancy advertisements and it is difficult to see past the geckos and flying pigs and find the best price available.
You should make it a habit to get comparison quotes occasionally since prices are constantly changing. Just because you had the lowest quotes two years ago you will most likely find a better rate today. Forget all the misinformation about car insurance because you’re about to learn the only way to find the best coverage while lowering your premiums.
When shopping for , there are a couple of ways to compare rate quotes from companies that offer car insurance in Tennessee. By far the easiest way to find competitive insurance rates consists of shopping online. It is quite easy and can be accomplished using a couple different methods.
- The first (and easiest) way to find the lowest comparison rates is to use a rate comparison form like this one (opens in new window). This style of form saves time by eliminating separate quote forms for each company. One simple form gets insurance cost estimates from many national carriers.
- A slightly less efficient method to find more affordable insurance requires a trip to each company website and go through the quote process again. For examples sake, let’s assume you want to compare prices for Nationwide, Farmers and GEICO. You would need to go to every website to input your insurance information, and that explains why we recommend the first method.
To view a list of companies in Lawrenceburg, click here.
The approach you take is up to you, just make absolute certain that you use the exact same information on every price quote you get. If you use different liability limits you can’t possibly get a fair rate comparison in Lawrenceburg. Slightly different coverages can make a big difference in price. Keep in mind that getting more free quotes helps you find the best offered rates.
Can you really save that much by switching?
Car insurance providers like 21st Century, Allstate and State Farm endlessly run television, radio, and online ads. All the ads advertise the message about savings if you change your car insurance coverage to their company. How do they all offer drivers better rates? Just pay attention to how they say it.
Companies give the best rates for the type of customer that makes them money. A good example of a preferred risk might have to be between the ages of 30 and 50, carries full coverage, and drives less than 10,000 miles a year. A customer getting a price quote who matches that profile receives the best auto insurance rates and will most likely save when switching.
Drivers who are not a match for the ideal profile will be charged higher premiums which usually ends up with the customer buying from a different company. If you listen to the ad wording, they say “drivers who switch” not “everybody who quotes” save money. That is how companies can lure you into getting a quote. Because of the profiling, you absolutely need to compare quotes as often as possible. It’s just not possible to know the company that will be your best fit.
Reduce your car insurance rates with these ten discounts
Buying car insurance is not cheap, but there are discounts available that can help lower your rates. Some discounts apply automatically when you get a quote, but a few need to be requested specifically before being credited. If you do not check that you are getting every discount available, you could be saving more on your car insurance.
- Theft Prevention System – Cars and trucks optioned with advanced anti-theft systems have a lower chance of being stolen and therefore earn up to a 10% discount.
- Braking Control Discount – Cars with anti-lock braking systems can avoid accidents and therefore earn up to a 10% discount.
- Senior Citizen Rates – Drivers that qualify as senior citizens can possibly qualify for reduced rates.
- Telematics Data – People who choose to allow driving data submission to spy on their driving habits by using a telematics device in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates if they show good driving skills.
- College Student – Youth drivers who are attending college and do not have access to a covered vehicle could get you a discount.
- Multiple Vehicles – Buying insurance for primary and secondary vehicles on one policy can get a discount for every vehicle.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to participate in a local driver’s education class in school or through a local driver safety program.
- No Claim Discounts – Drivers with accident-free driving histories are rewarded with significantly better rates on in comparison with accident-prone drivers.
- New Car Discount – Insuring a vehicle that is new can get you a discount since newer models are generally safer.
- Early Switch Discount – A few larger companies offer discounts for renewing your policy before your current coverage expires. You can save around 10% with this discount.
Don’t be shocked that most of the big mark downs will not be given to the entire cost. Most only cut specific coverage prices like collision or personal injury protection. So when the math indicates you would end up receiving a 100% discount, company stockholders wouldn’t be very happy. But all discounts should help reduce the amount you pay for coverage.
Some of the larger companies that may offer policyholders most of the discounts above include:
Double check with each insurance company which discounts you qualify for. A few discounts might not be offered on policies in Lawrenceburg. To see car insurance companies that offer many of these discounts in Tennessee, click here.
Car insurance coverage specifics
Learning about specific coverages of your policy aids in choosing the right coverages at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages found on most car insurance policies.
Comprehensive insurance covers damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims such as rock chips in glass, fire damage, vandalism and a tree branch falling on your vehicle. The most your car insurance company will pay is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses like doctor visits, surgery and chiropractic care. They are used in conjunction with a health insurance program or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage gives you protection from other drivers when they do not carry enough liability coverage. Covered claims include medical payments for you and your occupants and also any damage incurred to your vehicle.
Since a lot of drivers only purchase the least amount of liability that is required (25/50/15 in Tennessee), their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family.
Coverage for collisions
This coverage covers damage to your vehicle resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things like driving through your garage door, crashing into a building, sideswiping another vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. You can also raise the deductible to get cheaper collision coverage.
Auto liability insurance
This provides protection from damages or injuries you inflict on other’s property or people by causing an accident. It protects YOU against claims from other people, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.
Liability coverage protects against claims like bail bonds, funeral expenses, attorney fees, medical expenses and court costs. How much coverage you buy is up to you, but consider buying higher limits if possible. Tennessee requires minimum liability limits of 25,000/50,000/15,000 but it’s recommended drivers buy higher limits.
Smart consumers save more
As you shop your coverage around, never skimp on coverage in order to save money. Too many times, someone sacrificed collision coverage only to regret at claim time that the few dollars in savings costed them thousands. The ultimate goal is to buy the best coverage you can find at a price you can afford, but do not skimp to save money.
We just covered many ideas to save on car insurance. The most important thing to understand is the more times you quote, the higher the chance of saving money. You may even find the lowest rates come from a small local company. Some small companies may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.
For more information
More tips and info about car insurance can be read at the Tennessee Department of Commerce and Insurance website. Tennessee consumers can file complaints about a company, file complaints about an insurance agent or broker, and read enforcement actions against agents and companies.