Nobody I know is fond of buying auto insurance, especially when they could find better prices if they shop around. Multiple car insurance companies compete for your insurance dollar, so it can be very hard to choose a insurance company to find the absolute best rates possible.
You should make it a habit to do price comparisons before your next renewal since prices are constantly changing. If you had the best deal two years ago the chances are good that you can find a lower premium rate today. Forget anything you know (or think you know) about auto insurance because we’re going to show you the things you must know in order to find lower rates on auto insurance.
If you are paying for car insurance now, you should be able to cut costs considerably using these tips. Buying car insurance in Ashdown is easy if you know what you’re doing. Nevertheless, Arkansas car owners must understand how insurance companies sell online and take advantage of how the system works.
Save with with these ten discounts
Car insurance can cost a lot, but companies offer discounts to help offset the cost. Certain discounts will be applied when you purchase, but some may not be applied and must be inquired about before you will receive the discount.
- Homeowners Savings – Owning a home in Ashdown can earn you a little savings because of the fact that having a home requires a higher level of personal finance.
- Use Seat Belts – Forcing all vehicle occupants to use a seat belt can save a little off the PIP or medical payment premium.
- Government Employee Discount – Simply working for the federal government may qualify for a discount when you depending on your company.
- Accident Forgiveness Coverage – This isn’t a discount exactly, but companies like Progressive, State Farm and GEICO will forgive one accident without getting socked with a rate hike so long as you haven’t had any claims before the accident.
- Discount for Good Grades – Being a good student can get you a discount of up to 25%. This discount can apply until age 25.
- Discount for Life Insurance – Select auto insurance companies reward you with a small discount if you purchase a life insurance policy as well.
- Multi-car Discount – Buying insurance for multiple cars on one policy may reduce the rate for each vehicle.
- Military Discounts – Being on active duty in the military may qualify for rate reductions.
- Multiple Policy Discount – When you combine your home and auto insurance and insure them both with the same insurance company you will save as much as 10 to 15 percent.
- Paperless Signup – A handful of insurance companies may give you up to $50 for buying a policy and signing up on the web.
One thing to note about discounts is that most of the big mark downs will not be given the the whole policy. Some only apply to the cost of specific coverages such as comp or med pay. Even though it may seem like adding up those discounts means a free policy, you’re out of luck.
If you would like to view companies with discount auto insurance rates in Arkansas, click here.
Performing a rate comparison can take time and effort if you aren’t aware of the best way to get rate quotes. You can waste hours discussing policy coverages with insurance companies in Ashdown, or you could save time and use online quotes to quickly compare rates.
Most major companies participate in an industry program that enables customers to enter their coverage request one time, and every company then gives them pricing for coverage. This eliminates the need for quotation requests to every company. To compare pricing click here to open in new window.
The single downside to comparing rates this way is that you can’t choose the providers to receive prices from. So if you want to select specific insurance companies for rate comparison, we have assembled a list of companies who write auto insurance in Arkansas. Click here to view list.
It’s up to you how you get prices quotes, just be certain you are entering exactly the same coverage limits and deductibles for each quote you get. If you compare different coverage information it will be next to impossible to determine which company has the best rates in Ashdown. Just a small difference in limits could skew the results. Just remember that obtaining a wide range of quotes helps improve the odds of finding the best price. Some companies don’t provide prices over the internet, so you need to compare rates on coverage from those companies, too.
Your situation helps dictate your coverage
When it comes to buying coverage for your vehicles, there really is not a “perfect” insurance plan. Every insured’s situation is different so your insurance should reflect that These are some specific questions might point out whether or not you might need an agent’s assistance.
- Why am I required to buy high-risk coverage?
- Does medical payments coverage apply to all occupants?
- Am I covered if I wreck a rental car?
- When should my teen driver be added to my policy?
- Is pleasure use cheaper than using my vehicle to commute?
- What are the financial responsibility laws in Arkansas?
- Can I afford low physical damage deductibles?
- When should I drop full coverage on my vehicle?
If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier
Auto insurance coverage basics
Having a good grasp of a auto insurance policy aids in choosing the best coverages and proper limits and deductibles. Auto insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverage types found on most auto insurance policies.
Comprehensive insurance – Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims like hitting a bird, damage from flooding and a tree branch falling on your vehicle. The maximum amount a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist (UM/UIM) – This coverage gives you protection from other motorists when they do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your vehicle.
Because many people only carry the minimum required liability limits (25/50/25), their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses like surgery, chiropractic care, prosthetic devices, hospital visits and EMT expenses. The coverages can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. They cover you and your occupants and also covers getting struck while a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Collision – Collision insurance pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things such as rolling your car, crashing into a ditch, colliding with a tree and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible in order to get cheaper collision rates.
Liability insurance – Liability insurance will cover damage that occurs to people or other property. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 100/300/100 which stand for $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.
Liability insurance covers things such as structural damage, loss of income, repair costs for stationary objects, bail bonds and medical expenses. How much liability should you purchase? That is your choice, but you should buy higher limits if possible. Arkansas state law requires minimum liability limits of 25,000/50,000/25,000 but drivers should carry higher limits.
Don’t give up on cheaper rates
Throughout this article, we presented some good ideas how you can lower your auto insurance premium rates. The most important thing to understand is the more rate quotes you have, the better likelihood of getting . You may be surprised to find that the biggest savings come from some of the lesser-known companies. They often have lower prices on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
When searching for , it’s very important that you do not reduce coverage to reduce premium. In too many instances, someone sacrificed full coverage and learned later that the savings was not a smart move. Your goal should be to buy a smart amount of coverage for the lowest price but still have enough coverage for asset protection.
Even more information is located at the Arkansas Insurance Department website. Arkansas consumers can report car insurance fraud, get help finding coverage, discover disciplinary actions, and view a list of available companies.