Confused by the dozens of auto insurance company choices in Frisco? You’re not the only one! Consumers have so many options that it can turn into a challenge to find lower rates.
Consumers need to take a look at other company’s rates quite often due to the fact that insurance rates change regularly. If you had the best rates a couple years back you can probably find a better price now. There is a lot of bad information regarding auto insurance on the internet, so with this article, you’re going to get some great ways to slash your auto insurance rates.
If you have a policy now or are just looking to switch companies, you can use these tips to find the best rates while maximizing coverage. The purpose of this article is to let you in on how to effectively get price quotes and some tricks to saving. Texas consumers just need to learn the proper methods to get comparison rates online.
More discounts equal less premium
Companies offering auto insurance do not list every available discount very well, so we break down some of the best known and also the lesser-known savings tricks you should be using. If you don’t get every credit you qualify for, you are throwing money away.
- Auto/Home Discount – When you have multiple policies with the same company you may save at least 10% off all policies.
- Government Employees – Simply working for the federal government can save as much as 8% with a few auto insurance companies.
- Accident Free – Drivers with accident-free driving histories pay less as compared to accident-prone drivers.
- Save over 55 – Mature drivers may qualify for a discount up to 10%.
- Save with a New Car – Buying coverage on a new vehicle can save up to 30% since new cars are generally safer.
- Discount for Swiching Early – A few companies offer discounts for signing up before your current expiration date. The savings is around 10%.
- One Accident Forgiven – Some insurance companies allow you one accident before your rates go up so long as you haven’t had any claims for a set time period.
- Life Insurance Discount – Companies who offer life insurance give a break if you buy a life insurance policy as well.
It’s important to understand that most discounts do not apply to the entire cost. Some only reduce specific coverage prices like comprehensive or collision. Even though it may seem like adding up those discounts means a free policy, companies wouldn’t make money that way.
For a list of insurers with discount auto insurance rates in Texas, click here to view.
It’s not one size fits all
When choosing adequate coverage for your personal vehicles, there isn’t really a best way to insure your cars. Every insured’s situation is different.
For example, these questions could help you determine whether your personal situation may require specific advice.
- Why does it cost so much to insure a teen driver in Frisco?
- What happens if I owe more than my vehicle is worth?
- Do I need roadside assistance coverage?
- Is my nanny covered when driving my vehicle?
- What is the minimum liability in Texas?
- Are there companies who specialize in insuring high-risk drivers?
- How many claims can I have before being cancelled?
- Where can I get insurance after a DUI in Texas?
If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, take a second and complete this form. It’s fast, doesn’t cost anything and can provide invaluable advice.
More sites with auto insurance information
More detailed Texas auto insurance information can be found at the Texas Department of Insurance website. Consumers can read consumer alerts, report car insurance fraud, and file complaints about a company.
Car insurance coverages
Learning about specific coverages of your policy can help you determine which coverages you need for your vehicles. Auto insurance terms can be difficult to understand and reading a policy is terribly boring.
UM/UIM Coverage – This protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your vehicle.
Because many people only carry the minimum required liability limits (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.
Liability insurance – Liability coverage protects you from damage that occurs to other’s property or people that is your fault. This insurance protects YOU from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 50/100/50 that means you have a $50,000 limit per person for injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.
Liability coverage protects against things like medical expenses, emergency aid, legal defense fees, pain and suffering and repair costs for stationary objects. How much coverage you buy is up to you, but buy higher limits if possible. Texas requires minimum liability limits of 30,000/60,000/25,000 but you should consider buying better liability coverage.
Comprehensive or Other Than Collision – This covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like hitting a bird, rock chips in glass and theft. The highest amount a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Medical costs insurance – Medical payments and Personal Injury Protection insurance pay for expenses for prosthetic devices, X-ray expenses and doctor visits. They are utilized in addition to your health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage
Collision – Collision coverage will pay to fix damage to your vehicle resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision coverage pays for things like hitting a parking meter, colliding with another moving vehicle and scraping a guard rail. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to raise the deductible to bring the cost down.
Quote often and quote early
In this article, we presented a lot of ways to compare auto insurance prices online. The key concept to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. Consumers may even find the most savings is with a smaller regional carrier.
Drivers who switch companies do it for a variety of reasons including policy non-renewal, poor customer service, being labeled a high risk driver or extreme rates for teen drivers. Whatever your reason, switching auto insurance companies can be easier than you think.
As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. In many cases, drivers have reduced full coverage only to regret at claim time that the small savings ended up costing them much more. The proper strategy is to buy the best coverage you can find for the lowest price while not skimping on critical coverages.