Are you overwhelmed by the number of auto insurance company choices in Beverly? You’re not the only one! There are so many companies to choose from that it can be a real hassle to find better rates.
You probably qualify for some discounts
Auto insurance companies don’t list all their discounts very clearly, so we researched some of the best known and the harder-to-find ways to save on auto insurance.
- Good Student Discount – A discount for being a good student can get you a discount of up to 25%. This discount can apply well after school through age 25.
- Early Switch Discount – A few companies offer discounts for buying a policy before your current expiration date. It’s a savings of about 10%.
- Drivers Education – Cut your cost by having your teen driver successfully complete driver’s ed class if it’s offered in school.
- Braking Control Discount – Vehicles with anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
- Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
- Air Bag Discount – Cars that have air bags or automatic seat belts can qualify for discounts up to 30%.
Keep in mind that most discount credits are not given to your bottom line cost. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates it’s possible to get free car insurance, companies wouldn’t make money that way.
Learn How to Buy Auto Insurance Cheaper
Smart consumers have a good feel for the different types of things that help determine the price you pay for auto insurance. Understanding what determines base rates allows you to make educated decisions that could result in big savings.
- Women pay lower rates – Statistics have proven women tend to be less risk to insure than men. Now that doesn’t mean men are WORSE drivers than women. Both sexes cause accidents in similar numbers, but the men tend to have more serious accidents. Men also statistically get cited for more serious violations such as reckless driving.
- Equipment add-ons that lower auto insurance rates – Driving a car with a theft deterrent system can save you a little every year. Theft prevention features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder car theft.
- More claims means more premium – Auto insurance companies in Massachusetts generally give discounts to drivers who are claim-free. If you frequently file small claims, you can look forward to either higher rates or even cancellation. Car insurance is designed for major claims that would cause financial hardship.
- Never go without insurance – Driving with no insurance is illegal and auto insurance companies will penalize you for letting your insurance lapse. And not only will your rates increase, getting caught without coverage can result in a steep fine or even jail time.
- Where you live is a factor – Living in small towns and rural areas can be a good thing when buying auto insurance. Less people living in that area means a lower chance of having an accident and also fewer theft and vandalism claims. Urban drivers tend to have much more traffic to deal with and longer commutes to work. Longer commute distances translates into higher accident risk.
- Consolidate policies to earn discounts – Some companies will award you with lower prices to customers who buy several policies from them. It’s known as a multi-policy discount. This can amount to anywhere from five to ten percent in most cases. Even with this discount, you may still want to comparison shop to make sure you are getting the best deal. Drivers may still find a better deal by splitting coverages up.
- High credit ratings translate to low rates – Your credit history is a big factor in calculating your auto insurance rates. Therefore, if your credit is not that good, you could be paying less to insure your by improving your credit score. People with good credit tend to be more responsible than drivers with lower credit scores.
There’s no such thing as the perfect policy
When it comes to choosing the right insurance coverage for your vehicles, there really is no “perfect” insurance plan. Your needs are not the same as everyone else’s.
These are some specific questions could help you determine whether your personal situation might need an agent’s assistance.
- Does my insurance cover damage caused when ticketed for reckless driving?
- How high should my uninsured/underinsured coverage be in Massachusetts?
- What are Massachusetts no-fault laws?
- Is my vehicle covered for smoke damage?
- Is business property covered if stolen from my car?
- Does my insurance cover my expensive audio equipment?
- When should I not file a claim?
- What are the financial responsibility laws in Massachusetts?
If you’re not sure about those questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form.
More tips and info about auto insurance can be found at the Massachusetts Division of Insurance website. Visitors are able to file complaints about a company, read consumer alerts, and view agent and company licensing information.
Additional helpful sites include this page for auto insurance prices in Massachusetts and this list of insurance agents in Beverly.
Keep this in mind
As you go through the steps to switch your coverage, make sure you don’t buy lower coverage limits just to save a few bucks. There are a lot of situations where drivers have reduced full coverage to discover at claim time that the few dollars in savings costed them thousands. Your aim should be to purchase plenty of coverage at an affordable rate while still protecting your assets.
Lower-priced auto insurance can be bought online and also from your neighborhood Beverly agents, and you need to comparison shop both in order to have the best chance of saving money. A few companies may not provide online quoting and usually these small, regional companies provide coverage only through local independent agents.
We just covered a lot of information how to reduce auto insurance prices online. The key concept to understand is the more quotes you get, the better likelihood of reducing your rate. You may even discover the lowest premiums are with a small mutual company.