Have you fallen victim to overpriced auto insurance? Believe me when I say many Yarmouth consumers feel financially strained by their auto insurance policy.
Multiple insurance companies compete to insure your vehicles, and it can be difficult to compare rates and get the best coverage at the lowest cost out there.
It’s a good idea to compare rates every six months since insurance rates change frequently. If you had the best rates on your last policy you may be paying too much now. So forget anything you know (or think you know) about auto insurance because you’re about to learn the quickest way to remove unneeded coverages and save money.
Don’t overlook these ten discounts
Companies that sell car insurance do not advertise all their discounts very well, so we took the time to find some of the best known and the more hidden auto insurance savings.
- Federal Government Employee – Being employed by or retired from a federal job may qualify you for a discount with select insurance companies.
- Multi-policy Discount – When you combine your home and auto insurance with the same company you may earn approximately 10% to 15%.
- Safe Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates than their less cautious counterparts.
- Multiple Cars – Buying insurance for all your vehicles with the same company may reduce the rate for each vehicle.
- Discount for New Cars – Insuring a new car is cheaper since new cars are generally safer.
- Early Signing – Some insurance companies reward drivers for signing up before your current policy expires. This can save 10% or more.
- Senior Discount – Older drivers can possibly qualify for better auto insurance rates.
- Driver Safety – Completing a driver safety course could cut 5% off your bill and easily recoup the cost of the course.
- No Claims – Drivers who don’t have accidents can save substantially as compared to accident-prone drivers.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in school.
It’s important to note that most discount credits are not given to the overall cost of the policy. Most only apply to the cost of specific coverages such as comp or med pay. So despite the fact that it appears all those discounts means the company will pay you, it doesn’t quite work that way.
For a list of insurance companies with the best auto insurance discounts in Yarmouth, click here.
Tailor your coverage to you
When it comes to buying the best auto insurance coverage for your personal vehicles, there is no single plan that fits everyone. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions might help in determining if your insurance needs would benefit from an agent’s advice.
- How high should my medical payments coverage be?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Is my vehicle covered for flood damage?
- Why am I required to get a high-risk car insurance policy?
- I don’t drive much so do I pay less?
- Do I need PIP (personal injury protection) coverage in Maine?
- What are the best liability limits?
If you’re not sure about those questions but a few of them apply, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.
Price shop online but buy from a local Yarmouth agent
Some consumers prefer to visit with an insurance agent and that is just fine! One of the great benefits of comparing insurance prices online is you may find the lowest rates and still have an agent to talk to.
To make it easy to find an agent, after completing this quick form, your coverage information is instantly submitted to local insurance agents who will return price quotes for your insurance coverage. You never need to visit any agencies as quotes are delivered to your email. It’s the lowest rates AND an agent nearby.
Deciding on an provider needs to be determined by more than just a low price. These are valid questions to ask:
- What will you get paid if your car is a total loss? How is that amount determined?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- If you have an accident, will your rates go up?
- If they are an independent agency, which companies do they recommend?
- Can glass repairs be made at your home?
- Are there any discounts that you might be missing?
- Which company do they place the most coverage with?
The following is a list of insurance companies in Yarmouth that may be willing to give price quotes.
Allstate Insurance – 189 Main St # 2, Yarmouth, ME 04096 – (207) 846-8979
William R Goddard Insurance – 121 Main St, Yarmouth, ME 04096 – (207) 846-6660
Yarmouth Insurance – 141 Spring St, Yarmouth, ME 04096 – (207) 846-6136
Once you have received reasonable responses to all your questions and an affordable coverage quote, you’ve probably found an insurer that will properly insure your vehicles. Keep in mind policyholders can cancel your policy whenever you wish so never assume you are locked into your new company with no way to switch.
Even more information can be read at the Maine Bureau of Insurance website. Maine consumers can read industry bulletins, report car insurance fraud, and find a variety of consumer forms.
Auto insurance coverages explained
Having a good grasp of auto insurance can help you determine which coverages you need and proper limits and deductibles. Auto insurance terms can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverage types available from auto insurance companies.
Coverage for medical payments – Coverage for medical payments and/or PIP pay for bills for EMT expenses, doctor visits and chiropractic care. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible
Comprehensive coverages – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as hitting a bird, fire damage and vandalism. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Uninsured and underinsured coverage – This protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your vehicle.
Due to the fact that many Maine drivers only carry the minimum required liability limits (50/100/25 in Maine), their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.
Liability coverages – This coverage can cover damages or injuries you inflict on other’s property or people by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery.
Liability coverage protects against things such as structural damage, medical services, court costs, funeral expenses and medical expenses. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as much as you can afford. Maine requires drivers to carry at least 50,000/100,000/25,000 but you should think about purchasing better liability coverage.
Collision – This covers damage to your vehicle resulting from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things like hitting a mailbox, backing into a parked car, driving through your garage door and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Drivers also have the option to bump up the deductible to save money on collision insurance.
More effort can pay off
Cost effective auto insurance is attainable on the web in addition to many Yarmouth insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some auto insurance companies do not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.
In this article, we covered many tips how you can save on auto insurance. The key concept to understand is the more companies you get rates for, the better your chances of lowering your rates. You may even find the best prices are with a company that doesn’t do a lot of advertising. These companies may only write in your state and offer lower rates than the large multi-state companies such as Progressive or Geico.