Shopping for the lowest cost Richmond car insurance on the internet can seem to be challenging for people who are new to buying insurance on the web. With dozens of insurers to choose from, how can Richmond drivers possibly compare every company to locate the lowest price available?
It’s a good habit to compare prices occasionally due to the fact that insurance rates fluctuate regularly. Even if you think you had the lowest rates a year ago there may be better deals available now. Starting right now, forget all the misinformation about car insurance because you’re going to learn one of the easiest ways to find better rates and still maintain coverage.
Don’t overlook these discounts
The cost of insuring your cars can be expensive, but there are discounts available to reduce the price significantly. Larger premium reductions will be automatically applied at the time of purchase, but a few must be asked for prior to getting the savings.
- Accident Free – Good drivers with no accidents can save substantially when compared with bad drivers.
- Multi-policy Discount – When you have multiple policies with the same insurance company you will save approximately 10% to 15%.
- Military Discounts – Having a deployed family member may qualify for rate reductions.
- Accident Forgiveness – A few companies will allow you to have one accident before your rates go up if you are claim-free for a set time period.
- Discount for Life Insurance – Larger companies have lower rates if you buy auto and life insurance together.
A little note about advertised discounts, many deductions do not apply to the overall cost of the policy. Some only apply to individual premiums such as comprehensive or collision. So when the math indicates having all the discounts means you get insurance for free, car insurance companies aren’t that generous. But any discount will reduce the cost of coverage.
To see a list of companies with discount car insurance rates in Richmond, follow this link.
Are you falling for claims of savings?
Companies like Geico, State Farm and Progressive constantly bombard you with ads on TV and radio. All the ads have a common claim about savings if you switch your policy. How can each company say the same thing? It’s all in the numbers.
Different companies have a preferred profile for the driver that is profitable for them. A good example of a desirable insured might be over the age of 50, has no tickets, and has a short commute. A customer who meets those qualifications will qualify for the lowest rates and most likely will cut their rates substantially.
Drivers who don’t meet this ideal profile will have to pay higher premiums which usually ends up with the customer not buying. The ads state “customers that switch” not “people who quote” save that kind of money. That’s the way insurance companies can advertise the way they do.
Because of the profiling, drivers must compare as many rates as you can. You cannot predict the company that will give you the biggest savings.
Additional information can be found on the Virginia Bureau of Insurance website through this link. Virginia drivers can file complaints about an insurance agent or broker, find out industry alerts, view agent and company licensing information, and find a variety of consumer forms.
Final considerations
Consumers leave their current company for a number of reasons such as being labeled a high risk driver, policy cancellation, an unsatisfactory settlement offer or delays in paying claims. Regardless of your reason for switching companies, finding a great new company is less work than it seems.
You just read some good ideas how you can shop for car insurance online. The key concept to understand is the more times you quote, the better your chances of lowering your rates. Consumers could even find that the lowest rates come from an unexpected company.
Low-cost car insurance is possible from both online companies and also from your neighborhood Richmond agents, and you need to price shop both to have the best chance of lowering rates. Some car insurance companies may not provide online quoting and many times these small insurance companies only sell through independent insurance agents.