8 Ways to Save on Car Insurance in Hyde Park, VT

I can’t think of a single person who likes having to buy car insurance, especially knowing their premiums are through the roof.

Many auto insurance companies vie for your business, and it can be difficult to compare rates and get the definite lowest cost out there.

Hyde Park Car Insurance Prices Online

There are a lot of ways to compare car insurance quotes, and some are easier and takes less work. You could waste a few hours talking to insurance companies in Hyde Park, or you can stay home and use the web for quick rates.

Many popular insurance companies are enrolled in a marketplace that enables customers to submit their information once, and at least one company returns a rated price. This eliminates the need for repetitive form submissions for each company.

To compare pricing click here to open in new window.

The only drawback to using this type of system is buyers cannot specifically choose which companies you want to price. So if you prefer to pick individual companies for rate comparison, we have a page of companies who write car insurance in Vermont. View list of Vermont insurance companies.

However you get your quotes, ensure you’re using identical coverages and limits for each comparison quote. If you are comparing higher or lower deductibles you can’t possibly determine the best price in Hyde Park. Just a small difference in limits could mean much higher rates. And when comparing car insurance rates, know that comparing more company’s prices helps locate the best rates.

Do you qualify for a discount?

Car insurance companies do not list all their discounts in a way that’s easy to find, so we researched some of the best known and the harder-to-find discounts you could be receiving.

  • Theft Prevention System – Cars that have factory anti-theft systems can help prevent theft and will save you 10% or more.
  • Military Rewards – Having a deployed family member can result in better rates.
  • Safe Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates than drivers with accidents.
  • Save over 55 – Mature drivers may receive reduced rates.
  • Distant Student – Children who live away from home and do not have access to a covered vehicle may be able to be covered for less.
  • Defensive Driver – Successfully completing a defensive driving course can save you 5% or more if your company offers it.
  • New Vehicle Savings – Putting insurance coverage on a new car can cost up to 25% less compared to insuring an older model.
  • Homeowners Pay Less – Owning a home in Hyde Park may trigger a car insurance policy discount because owning a home is proof that your finances are in order.

A little note about advertised discounts, some credits don’t apply the the whole policy. Most only cut individual premiums such as liability, collision or medical payments. Just because you may think it’s possible to get free car insurance, it doesn’t quite work that way.

To see a list of insurance companies who offer car insurance discounts in Vermont, follow this link.

What about using a local agent?

Certain consumers would rather sit down with an agent and that is a personal choice. The best thing about comparing rates online is you may find better rates and still have an agent to talk to.

For easy comparison, once you complete this form (opens in new window), the quote information is immediately sent to agents in your area who will return price quotes for your coverage. You don’t have to visit any agencies due to the fact that quote results will go straight to your inbox. How’s that for easy! You can find the lowest rates and work with a local agent.

Deciding on an insurer should depend on more than just a cheap price. Any agent should be forthright in answering these questions:

  • Is the agent and/or agency licensed to do business in Vermont?
  • How are they compensated?
  • What are the financial ratings for the companies they represent?
  • Do they regularly work with personal auto policies?
  • Which insurance companies are they affiliated with?
  • How are claims handled?

Types of car insurance agents in Hyde Park

When finding a reliable agent, there are a couple of types of insurance agents from which to choose. Agents are either captive or independent.

Captive Insurance Agents

This type of agents write business for a single company and some examples include State Farm or Allstate. These agents are not able to shop your coverage around so always compare other rates. Captive agencies are trained well on the products they sell which can be an advantage.auto insurance image

Independent Agents (or Brokers)

Independent agents are not locked into one company so they can insure your vehicles with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, an independent agent can move your coverage and that require little work on your part. When searching for an agent, it’s a good idea to contact at least one independent agent to have the most options to choose from.

After receiving satisfactory answers to any questions you have and a good coverage price, you have narrowed it down to an insurance agent that is a good match to properly insure your vehicles.

What is the best insurance coverage?

When it comes to buying coverage, there is no “best” method to buy coverage. Every insured’s situation is different so this has to be addressed. For instance, these questions might point out if your insurance needs could use an agent’s help.

  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Does having multiple vehicles earn me a discount?
  • What vehicles should carry emergency assistance coverage?
  • Are all vehicle passengers covered by medical payments coverage?
  • When do I need to add a new car to my policy?
  • What is the minimum liability in Vermont?
  • Which companies will insure high-risk drivers?

If you can’t answer these questions but you think they might apply to your situation, you might consider talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of car insurance companies in your area.

Switch companies and save? Really?

Car insurance providers like Allstate, Geico and Progressive continually stream ads on television and other media. They all say the same thing that you’ll save big after switching to them. How do they all make almost identical claims? This is how they do it.

All the different companies have a certain “appetite” for the type of customer that earns them a profit. For instance, a desirable insured could possibly be a mature driver, a clean driving record, and has a short commute. Any new insured who meets those qualifications will qualify for the lowest rates and as a result will probably save when switching.

Drivers who don’t measure up to these standards must pay higher rates which leads to business not being written. Company advertisements say “people who switch” not “everybody who quotes” save that much. That’s the way companies can make the claims of big savings. This illustrates why drivers should compare as many rates as you can. You cannot predict which insurance companies will fit your personal profile best.

The coverage is in the details

Understanding the coverages of a car insurance policy can help you determine which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and reading a policy is terribly boring. Below you’ll find the normal coverages available from car insurance companies.

Auto liability insurance

This can cover injuries or damage you cause to other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 50/100/50 that translate to a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.

Liability insurance covers claims such as medical services, funeral expenses, attorney fees and legal defense fees. How much liability should you purchase? That is your choice, but buy as large an amount as possible. Vermont state minimum liability requirements are 25,000/50,000/10,000 but drivers should carry better liability coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include injuries to you and your family and also any damage incurred to your vehicle.

Since a lot of drivers carry very low liability coverage limits (which is 25/50/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Comprehensive auto coverage

Comprehensive insurance pays for damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as hail damage, damage from a tornado or hurricane, fire damage and hitting a deer. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

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Coverage for collisions

Collision insurance will pay to fix damage to your vehicle caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things like colliding with another moving vehicle, hitting a parking meter, damaging your car on a curb and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to raise the deductible in order to get cheaper collision rates.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP provide coverage for bills for doctor visits, EMT expenses, surgery and rehabilitation expenses. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover getting struck while a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Final considerations

You just learned a lot of techniques to lower your car insurance rates. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. You may even discover the most savings is with an unexpected company. Some small companies can often insure niche markets at a lower cost compared to the large companies like Progressive and Geico.

While you’re price shopping online, it’s a bad idea to skimp on critical coverages to save a buck or two. In many instances, drivers have reduced collision coverage and discovered at claim time that the few dollars in savings costed them thousands. Your aim should be to find the BEST coverage at a price you can afford, not the least amount of coverage.

Lower-priced car insurance can be sourced both online and with local Hyde Park insurance agents, so compare prices from both in order to have the best chance of saving money. Some insurance companies do not offer online quoting and usually these regional insurance providers provide coverage only through local independent agents.

Learn more today

Additional detailed information is available at the Vermont Department of Financial Regulation website. Consumers can read state legal mandates and laws, file complaints about a company, read enforcement actions against agents and companies, and discover disciplinary actions.