Online price comparisons for can be challenging if you’ve never compared online price quotes. Don’t be bewildered because finding more affordable rates is actually fairly simple.
There are several ways to compare auto insurance prices but some are more efficient than others. You could spend your day discussing policy coverages with insurance agencies in Columbia Heights, or you could save time and use the internet to accomplish the same thing much quicker.
Many of the larger companies enroll in a system that allows shoppers to enter their coverage request one time, and each company can provide price quotes based on that data. This saves time by eliminating quote requests to every company.
To access this free quoting program, click to open in new window.
The single downside to using this type of system is buyers cannot specifically choose the insurers you want to price. If you wish to select individual companies to compare rates, we have a page of low cost auto insurance companies in Minnesota. Click here to view list.
Whichever way you choose to compare rates, be sure you’re using equivalent coverage data on every price quote you get. If you compare differing limits you will not be able to make an equal comparison in Columbia Heights. Just a small difference in insurance coverages or limits may result in a large different in cost. And when comparing auto insurance rates, know that comparing more company’s prices gives you a better chance of getting better pricing. Not every company does quotes online, so it’s important to also get rates from the smaller companies as well.
Can switching companies really save?
Popular auto insurance providers such as Geico, State Farm and Progressive consistently run television and radio advertisements. All the companies make the same claim that people will save if you move your policy. How can each company cost less than your current company?
All the different companies have a certain “appetite” for a prospective insured they prefer to insure. A good example of a desirable insured might be a married male, has never had a claim, and has a high credit rating. Any customer who meets those qualifications receives the best prices and will cut their rates substantially.
Potential insureds who don’t measure up to those standards will see a higher premium and this results in business not being written. The wording the ads use say “people that switch” but not “all drivers who get quotes” save money. This is how insurance companies can make claims like that.
Because every company is different, drivers should get as many as possible. You cannot predict which insurance companies will give you lower premium rates than your current company.
Take these seven policy discounts and save
Companies do not advertise all available discounts very clearly, so the next list breaks down both the well known as well as the least known discounts that you may qualify for.
- Onboard Data Collection – Columbia Heights drivers who agree to allow driving data collection to study driving habits by using a telematic data system like Drivewise from Allstate or In-Drive from State Farm might get better premium rates as long as the data is positive.
- Discounts for Cautious Drivers – Insureds who avoid accidents can save up to 40% or more on their as compared to drivers with claims.
- Membership in Organizations – Being in a qualifying organization can get you a small discount on auto insurance.
- Accident Forgiveness – This one isn’t a discount, but some companies like State Farm, Progressive and Geico will turn a blind eye to one accident without getting socked with a rate hike if you have no claims for a set time period.
- Discount for Good Grades – A discount for being a good student may save you up to 25%. The good student discount can last up to age 25.
- Paperless Signup – A few larger companies will discount your bill up to fifty bucks on the web.
- Multi-policy Discount – If you can bundle your auto and home insurance with one insurance company they may give you a discount of 10% to 20% off each policy.
Discounts reduce rates, but you should keep in mind that most discounts do not apply to the entire cost. Some only apply to specific coverage prices like collision or personal injury protection. If you do the math and it seems like all those discounts means the company will pay you, you aren’t that lucky.
A few companies that have these money-saving discounts include:
Before buying, ask every company how you can save money. Depending on the company, some discounts might not apply in your state. To see auto insurance companies that offer some of these discounts in Columbia Heights, click this link.
Coverages available on your policy
Learning about specific coverages of a auto insurance policy helps when choosing which coverages you need for your vehicles. Auto insurance terms can be difficult to understand and nobody wants to actually read their policy.
UM/UIM Coverage
This protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants and damage to your vehicle.
Due to the fact that many Minnesota drivers carry very low liability coverage limits (30/60/10), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Auto collision coverage
Collision coverage will pay to fix damage to your vehicle resulting from a collision with a stationary object or other vehicle. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as rolling your car, colliding with a tree, sideswiping another vehicle and scraping a guard rail. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage pays for claims like hail damage, a broken windshield, theft, damage from getting keyed and rock chips in glass. The maximum amount your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Liability coverages
This can cover damage or injury you incur to a person or their property. This coverage protects you against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 25/50/25 that means you have a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability coverage pays for things such as repair bills for other people’s vehicles, loss of income, pain and suffering and structural damage. The amount of liability coverage you purchase is a personal decision, but buy as much as you can afford. Minnesota state law requires minimum liability limits of 30,000/60,000/10,000 but drivers should carry higher limits.
Medical costs insurance
Medical payments and Personal Injury Protection insurance pay for immediate expenses for pain medications, ambulance fees, surgery, doctor visits and chiropractic care. They can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay
Additional auto insurance information can be found on the website for the Minnesota Department of Commerce through this link. Minnesota consumers can download brochures, view agent and company licensing information, find out industry alerts, and file complaints about a company.
What is YOUR best insurance company?
Insureds change insurance companies for a number of reasons such as high prices, policy cancellation, questionable increases in premium or even unfair underwriting practices. It doesn’t matter what your reason, choosing a new company is not as hard as you think.
Affordable auto insurance is possible on the web in addition to many Columbia Heights insurance agents, and you should compare price quotes from both so you have a total pricing picture. There are still a few companies who may not have the ability to get a quote online and many times these smaller companies only sell coverage through independent agents.
We covered a lot of information how to get a better price on auto insurance. It’s most important to understand that the more times you quote, the higher the chance of saving money. Consumers could even find that the best car insurance rates are with some of the lesser-known companies.