Are you sick and tired of not being able to afford each month for car insurance? You are in the same boat as most other car owners in Virginia. Drivers have so many insurance companies to purchase coverage from, and although it’s nice to have a choice, too many choices makes it more difficult to compare rates and cut insurance costs.
Don’t miss these discounts
Car insurance companies don’t always advertise every available discount very well, so we researched some of the more common and the harder-to-find ways to save on auto insurance. If you don’t get every credit available, you’re paying more than you need to.
- 55 and Retired – If you qualify as a senior citizen, you can possibly qualify for reduced rates.
- Save with a New Car – Buying coverage on a new vehicle can cost up to 25% less since new cars are generally safer.
- Homeowners Savings – Owning a house in Hopewell can save you money because owning a home is proof that your finances are in order.
- Payment Method – By paying your policy upfront instead of making monthly payments you can actually save on your bill.
- Multiple Vehicles – Insuring multiple vehicles on one policy can get a discount on all vehicles.
- Seat Belts Save more than Lives – Drivers who require all occupants to buckle their seat belts can save up to 15% off your PIP or medical payments premium.
- E-sign – A handful of insurance companies will give a small break for buying a policy and signing up online.
- Multi-policy Discount – When you combine your home and auto insurance with the same company you could get a discount of 10% to 20% off each policy.
- Student Driver Training – Cut your cost by having your teen driver take driver’s ed class if it’s offered in school.
As a disclaimer on discounts, most discount credits are not given to the overall cost of the policy. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though they make it sound like it’s possible to get free car insurance, companies don’t profit that way.
To choose insurance companies with the best auto insurance discounts in Virginia, click this link.
How to Compare Hopewell Auto Insurance Costs
Shopping for lower auto insurance rates can be a daunting task if you don’t utilize the best way to get rate quotes. You can waste hours talking to agents in Hopewell, or you can stay home and use the internet to quickly compare rates.
Many insurance companies belong to a marketplace that allows shoppers to enter their policy data once, and each participating company returns a rated price based on that data. This system prevents you from having to do form submissions to each individual auto insurance company.
To fill out one form to compare multiple rates now click to open in new window.
The only downside to getting quotes like this is that consumers can’t choose the providers to receive prices from. If you prefer to choose individual companies for rate comparison, we put together a list of the cheapest auto insurance companies in Virginia. Click here for list of insurance companies in Virginia.
It doesn’t matter which method you choose, just ensure you’re using exactly the same coverage limits and deductibles on every quote you get. If you have different liability limits you can’t possibly determine the best price in Hopewell.
How your Hopewell rates are determined
Consumers need to have an understanding of the different types of things that help determine the rates you pay for auto insurance. Having a good understanding of what controls the rates you pay helps enable you to make changes that can help you get better auto insurance rates.
- The more you drive the more you pay – The more you drive every year the more you will pay for auto insurance. Most insurance companies apply a rate determined by how the vehicle is used. Cars used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. Double check that your auto insurance policy is rated on the correct driver usage, because it can save money.
- High deductibles save money – Your deductibles define the amount you are required to spend out-of-pocket in the event of a claim. Physical damage coverage, otherwise known as comp (or other than collision) and collision, protects your car from damage. A few examples of covered claims would be running into the backend of another car, vandalism, or theft. The more money you have to pay, the less your auto insurance will be.
- High performance equals high price – The performance level of the vehicle you are buying insurance for makes a substantial difference in determining your rates. Economy passenger models generally receive the lowest base rates, but the cost you end up paying is determined by many additional factors.
- High credit ratings translate to low rates – Your credit rating is a large factor in calculating your auto insurance rates. Drivers who have good credit tend to be better drivers and file fewer claims as compared to drivers with lower credit scores. So if your credit history can use some improvement, you could potentially save money when insuring your by spending a little time repairing your credit.
- Older drivers pay less – Mature drivers are more responsible, tend to cause fewer accidents and get fewer tickets. Teenage drivers are known to get distracted easily in a vehicle and because of this, their auto insurance rates are much higher.
You are unique and your auto insurance should be too
When it comes to choosing the right insurance coverage, there isn’t really a single plan that fits everyone. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions can help discover whether or not you might need professional guidance.
- Will I lose any money if I cancel my policy before it expires?
- Is there coverage for injuries to my pets?
- Is my vehicle covered by my employer’s policy when using it for work?
- How much underlying liability do I need for an umbrella policy?
- When should I not file a claim?
- Am I covered when driving a rental car?
- Is borrowed equipment or tools covered if stolen or damaged?
If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of auto insurance companies in your area. It is quick, free and can provide invaluable advice.
Aren’t my neighborhood agents an option?
Some consumers just want to buy from a local agent and that is a personal choice. Insurance agents can help determine the best coverages and give you peace of mind. The biggest benefit of comparing insurance prices online is that you can obtain the best rates and still have an agent to talk to.
To find an agent, once you fill out this short form, the coverage information is sent to insurance agents in Hopewell who will compete for your coverage. There is no need to leave your house since price quotes are sent directly to your email. It doesn’t get any easier!
Deciding on an provider requires more thought than just a cheap price. Agents should be asked these questions:
- Is working in the agency their full-time job?
- What insurance companies do they work with?
- Is the agent and/or agency licensed to do business in Virginia?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Did they already check your driving record and credit reports?
- Which members of your family are coverage by the policy?
- If your car is totalled, how to they determine the replacement cost?
What types of insurance agents are in Hopewell?
When finding a good insurance agency, there are a couple of types of insurance agents from which to choose. Agencies in Hopewell are either captive or independent (non-captive). Both types can insure your vehicles, but it’s worth learning the differences since it may influence buying decisions.
Captive agencies can only place business with one company and some examples include State Farm, AAA, Farmers Insurance or Allstate. They generally cannot place coverage with different providers so they have to upsell other benefits. Captives receive extensive training on the products they sell and that can be a competitive advantage.
Shown below is a list of captive agents in Hopewell that can give you price quotes.
Allstate Insurance – 109 S 15th Ave – Hopewell, VA 23860 – (804) 452-0071
Farmers Insurance Group – 501 Woodland Rd – Hopewell, VA 23860 – (804) 452-2984
Independent Agents (or Brokers)
Independent agencies do not work for one specific company but instead can place your coverage with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, your agent can switch companies and that require little work on your part.
When searching for an agent, you should always contact several independent insurance agents to have the most options to choose from.
Below is a list of independent insurance agencies in Hopewell that are able to give comparison quotes.
Owen Insurance – 507 N 4th Ave – Hopewell, VA 23860 – (804) 458-9400
A-1 Insurance – 411 N 6th Ave – Hopewell, VA 23860 – (804) 458-4509
Ford Agency Inc – 111 W Poythress St – Hopewell, VA 23860 – (804) 458-6333
To view a full list of insurance agents in Hopewell, please view this page.
After receiving good answers to your questions as well as a affordable price, it’s possible that you found a car insurance agent that is a good match to properly service your auto insurance policy.
A tidy conclusion
As you restructure your insurance plan, it’s a bad idea to buy lower coverage limits just to save a few bucks. There are a lot of situations where someone sacrificed liability coverage limits only to find out that it was a big mistake. The proper strategy is to purchase plenty of coverage for the lowest price while still protecting your assets.
In this article, we covered some good ideas how you can lower your auto insurance rates. The most important thing to understand is the more providers you compare, the better likelihood of reducing your rate. Consumers may even find the lowest priced auto insurance comes from the smaller companies. Regional companies may only write in your state and offer lower rates than their larger competitors like Progressive or GEICO.
Additional detailed information is available at the Virginia Bureau of Insurance website. Consumers can find out industry alerts, find out which companies have the most complaints, and find a variety of consumer forms.