Are you a victim of high-priced auto insurance? Believe me when I say you’re not alone.
Many car insurance companies compete for your insurance dollar, so it’s not easy to compare every company to find the lowest cost out there.
Smart consumers take time to check auto insurance prices every six months since rates are usually higher with each renewal. Despite the fact that you may have had the lowest price six months ago there is a good chance you can find better rates now. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to the best methods to lower your rates without sacrificing coverage.
If you currently have car insurance, you should be able to reduce your rates substantially using these tips. Finding the best rates in Spartanburg is easy if you know what you’re doing. But South Carolina drivers can benefit by having an understanding of the way insurance companies sell insurance online because it can help you find the best coverage.
Low Cost Spartanburg Auto Insurance
All major auto insurance companies allow you to get insurance quotes directly from their websites. Obtaining pricing is pretty easy as you just type in the amount of coverage you want into a form. Upon sending the form, the company’s rating system automatically orders your credit score and driving record and quotes a price based on these and other factors. Online quotes helps simplify price comparisons, but the time required to go to different websites and complete many quote forms gets old quite quickly. But it is imperative to perform this step if you are searching for the lowest auto insurance rates.
A more efficient way to locate the lowest prices uses one simple form that obtains quotes from several companies at one time. This type of form saves time, eliminates form submissions, and makes rate comparisons much easier. As soon as you send your information, it is quoted with multiple companies and you can pick your choice of the quotes that you receive. If you find a better price you simply finish the application and buy the policy. The entire process just takes a couple of minutes and you’ll know if lower rates are available.
In order to get comparison pricing now, click here to open in a new tab and enter your vehicle and coverage information. If you have a policy now, it’s recommended you input the insurance coverages identical to your current policy. This way, you are getting comparison quotes based on the exact same insurance coverage.
Save 15 percent in 15 minutes? Is it for real?
21st Century, Allstate and State Farm continually stream ads on television and other media. All the companies have a common claim that you can save after switching to them. But how can every company say the same thing? It’s all in the numbers.
Different companies have a preferred profile for the driver that makes them money. For example, a preferred risk might be over the age of 50, a clean driving record, and has a high credit rating. Any new insured who matches those parameters receives the best rates and most likely will pay quite a bit less when switching companies.
Potential customers who are not a match for this ideal profile will be quoted a more expensive rate which usually ends up with the customer not buying. Company advertisements say “people who switch” not “everybody who quotes” save that much money. This is how companies can make those claims. This emphasizes why you absolutely need to compare many company’s rates. It’s just too difficult to predict which auto insurance company will fit your personal profile best.
Verify you’re getting all your discounts
Companies don’t always list every available discount very well, so we break down both the well known and the more hidden discounts you could be receiving.
- Homeowners Savings – Being a homeowner may earn you a small savings because maintaining a house is proof that your finances are in order.
- Multi-policy Discount – If you have multiple policies with the same insurance company you could get a discount of at least 10% off all policies.
- Pay Upfront and Save – By paying your policy upfront rather than paying monthly you may reduce your total bill.
- Anti-theft Discount – Vehicles with anti-theft systems are stolen less frequently and will save you 10% or more.
- Good Students Pay Less – Getting good grades can get you a discount of up to 25%. The discount lasts well after school through age 25.
- Life Insurance – Companies who offer life insurance give better rates if you take out life insurance from them.
- Anti-lock Brake System – Vehicles equipped with ABS or steering control can reduce accidents and earn discounts up to 10%.
- Driver Safety – Taking part in a driver safety course could possibly earn you a 5% discount and easily recoup the cost of the course.
- Drive Less and Save – Keeping the miles down can earn a substantially lower rate.
- Passive Restraint Discount – Cars that have air bags or motorized seat belts can qualify for discounts up to 30%.
Drivers should understand that most of the big mark downs will not be given to all coverage premiums. Most only reduce specific coverage prices like comprehensive or collision. Just because it seems like all the discounts add up to a free policy, you’re out of luck.
To see a list of providers with discount auto insurance rates in South Carolina, follow this link.
Auto insurance coverages explained
Having a good grasp of your auto insurance policy can be of help when determining the right coverages for your vehicles. Auto insurance terms can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverage types found on the average auto insurance policy.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP provide coverage for immediate expenses such as nursing services, prosthetic devices, doctor visits and EMT expenses. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay
Auto collision coverage
This coverage covers damage to your vehicle caused by collision with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as sustaining damage from a pot hole, scraping a guard rail and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to save money on collision insurance.
Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like hail damage, damage from getting keyed, damage from a tornado or hurricane, vandalism and a broken windshield. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Liability auto insurance
This coverage can cover damage or injury you incur to people or other property that is your fault. It protects you from legal claims by others, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.
Liability can pay for claims like medical expenses, loss of income, bail bonds, repair costs for stationary objects and pain and suffering. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford. South Carolina state law requires minimum liability limits of 25,000/50,000/25,000 but it’s recommended drivers buy more coverage.
Uninsured/Underinsured Motorist (UM/UIM)
This coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your vehicle.
Due to the fact that many South Carolina drivers carry very low liability coverage limits (South Carolina limits are 25/50/25), their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.
Buy online or local, you save
As you shop your coverage around, never buy lower coverage limits just to save a few bucks. There are a lot of situations where someone sacrificed uninsured motorist or liability limits only to discover later that the savings was not a smart move. The proper strategy is to get the best coverage possible at a price you can afford, not the least amount of coverage.
We’ve covered many tips how you can get a better price on auto insurance. The key concept to understand is the more rate comparisons you have, the higher your chance of finding lower rates. Drivers may discover the lowest premiums are with the smaller companies. Regional companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm and Allstate.
Additional consumer information websites
Even more information is available at the South Carolina Department of Insurance website. South Carolina consumers can file complaints about a company, find out which companies have the most complaints, download brochures, and file complaints about an insurance agent or broker.