Nobody looks forward to buying auto insurance, in particular when the cost is way too high.
With consumers having so many different company options, it can be impossible to pick the best insurer.
Buying car insurance in Cheverly is not rocket science. If you currently have a car insurance policy, you will most likely be able to reduce your rates substantially using these methods. But Maryland drivers must know how companies sell insurance online and use this information to your advantage.
Take these ten discounts and save
Auto insurance companies don’t always list all available discounts in an easy-to-find place, so here is a list some of the more common and the harder-to-find auto insurance savings.
- Good Student Discount – Performing well in school can be rewarded with saving of up to 25%. This discount can apply well after school through age 25.
- Federal Government Employee – Being employed by or retired from a federal job may qualify you for a discount with a few auto insurance companies.
- Bundle and Save – If you have multiple policies with one company you may earn up to 20% off your total premium.
- Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in high school.
- Senior Discount – Older drivers can possibly qualify for reduced rates.
- Discount for Swiching Early – A few companies offer discounts for buying a policy before your current expiration date. The savings is around 10%.
- Drive Safe and Save – Drivers who don’t get into accidents may save up to 50% more than drivers with accidents.
- Paperwork-free – A few companies give back up to $50 just for signing your application on their website.
- Homeowners Savings – Simply owning a home may earn you a small savings because of the fact that having a home is proof that your finances are in order.
- Accident Free – Drivers who don’t have accidents can earn big discounts compared to accident-prone drivers.
A little note about advertised discounts, some credits don’t apply to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as medical payments or collision. So when it seems like all those discounts means the company will pay you, it just doesn’t work that way.
To choose insurers with the best auto insurance discounts in Cheverly, click here to view.
Shop online but buy locally
Some consumers would prefer to visit with an insurance agent and that is OK! The biggest benefit of comparing insurance prices online is that you can obtain better rates and still choose a local agent.
For easy comparison, once you complete this quick form, the quote information is submitted to companies in Cheverly who will give you bids for your insurance coverage. You never need to visit any agencies since price quotes are sent directly to your email. How’s that for easy! You can find better rates without the usual hassles of price shopping.
Choosing an provider shouldn’t rely on just a cheap price. Any agent should have no problem answering these questions:
- Did they already check your driving record and credit reports?
- Which insurance companies are they affiliated with?
- If they are an independent agency, which companies do they recommend?
- How often do they review policy coverages?
- Is the agency involved in supporting local community causes?
Types of insurance agents
When looking for a good insurance agency, there are two different agency structures that you can select. Agencies in Cheverly are either independent (non-captive) or captive.
Captive agents can only write with one company like American Family, State Farm and Allstate. They are unable to place coverage with different providers so they have to upsell other benefits. These agents are trained well on their products and sales techniques which helps them sell insurance even at higher premiums.
Listed below are captive insurance agents in Cheverly willing to provide comparison quotes.
Allstate Insurance – 6001 Landover Rd # 7 – Cheverly, MD 20785 – (301) 322-5500
State Farm Insurance – 5629 Landover Rd – Cheverly, MD 20784 – (301) 277-4828
Independent Agencies or Brokers
Independent agents are not required to write business for one company but instead can place your coverage with any number of different companies depending on which coverage is best. If your agent finds better pricing, the agent simply finds a different carrier and that require little work on your part.<img class="alignright" style="padding-top:15px;" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-96.jpg" alt="Cheverly Maryland car insurance“/>
When shopping rates, we recommend you include price quotes from at a minimum one independent agency to ensure the widest selection of prices.
Shown below is a list of independent agents in Cheverly willing to provide price quote information.
Nationwide Insurance – 5505 Landover Rd – Cheverly, MD 20784 – (301) 864-5800
For a full directory of auto insurance agents in Cheverly, visit this site.
Once you have reasonable responses to any questions you have and an acceptable price quote, most likely you have located an insurance agent that will service your policy.
Auto insurance myths debunked
Companies like State Farm, GEICO and Progressive regularly use television and radio advertisements. All the ads say the same thing of big savings if you move to them. But how can every company make almost identical claims? It’s all in the numbers.
All the different companies have a certain “appetite” for the right customer that is profitable for them. A good example of a driver they prefer could be a mature driver, insures multiple vehicles, and has a short commute. A driver that hits that “sweet spot” will get very good rates and most likely will cut their rates substantially.
Drivers who do not match this ideal profile will be quoted a higher premium which leads to the driver buying from a lower-cost company. The ads state “customers who switch” not “everyone that quotes” save that much. That’s the way insurance companies can confidently advertise the way they do. This emphasizes why drivers must quote coverage with many companies. It’s just too difficult to predict which insurance companies will have the lowest rates.
Additional detailed information can be read at the Maryland Insurance Administration website. Visitors are able to discover disciplinary actions, find out which companies have the most complaints, and file complaints about a company.
Auto insurance coverages and their meanings
Knowing the specifics of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are typical coverages offered by auto insurance companies.
Uninsured/Underinsured Motorist (UM/UIM)
This protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Because many people have only the minimum liability required by law (30/60/15 in Maryland), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is very important.
Coverage for collisions
Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things like scraping a guard rail, hitting a mailbox, damaging your car on a curb and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Another option is to choose a higher deductible to save money on collision insurance.
Liability coverage will cover damage that occurs to other’s property or people that is your fault. This coverage 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, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.
Liability coverage pays for things like emergency aid, bail bonds, repair costs for stationary objects, repair bills for other people’s vehicles and funeral expenses. How much liability should you purchase? That is your choice, but consider buying as high a limit as you can afford. Maryland state minimum liability requirements are 30,000/60,000/15,000 but drivers should carry better liability coverage.
Med pay and Personal Injury Protection (PIP)
Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for things like rehabilitation expenses, ambulance fees and EMT expenses. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants in addition to being hit by a car walking across the street. PIP is not an option in every state and may carry a deductible
This pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like damage from flooding, vandalism, fire damage, theft and falling objects. The most a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
In the end, you save
In this article, we covered quite a bit of information on how to save on auto insurance. The key thing to remember is the more price quotes you have, the better likelihood of reducing your rate. You may even discover the lowest priced auto insurance comes from the smaller companies. They may have significantly lower rates on certain market segments as compared to the big name companies such as GEICO and State Farm.
Cost effective auto insurance is possible from both online companies and with local Cheverly insurance agents, so compare prices from both to have the best rate selection. Some insurance companies do not offer online price quotes and usually these small insurance companies provide coverage only through local independent agents.