Expensive auto insurance can sap your personal savings and put the squeeze on your family’s finances. Comparing cost estimates can help to ensure you are getting the best deal.
Due to the fact that there are so many companies and agents to choose from, it is hard for the average consumer to locate the lowest cost auto insurance provider.
It’s a great practice to shop coverage around before your policy renews since insurance prices change regularly. Even if you got the lowest price on your last policy there is a good chance you can find better rate quotes now. You’ll find quite a bit of inaccurate information about auto insurance on the internet, but in this article, you’re going to get some of the best ways to slash your auto insurance rates.
Decisions you make can lower your costs
Lots of factors are part of the equation when you quote your car insurance policy. Most are fairly basic such as your driving record, but other factors are not as apparent such as your marital status and annual miles driven. A large part of saving on auto insurance is knowing some of the factors that go into determining your auto insurance rates. When you understand what determines base rates, this helps enable you to make changes that may reward you with big savings.
- Low stress occupation equals lower prices – Did you know your auto insurance rates can be affected by your occupation? Occupations such as doctors, business owners and financial analysts generally pay the highest rates attributed to high stress and lots of time spent away from family. Conversely, careers like scientists, historians and the unemployed generally pay rates lower than average.
- Save by driving less – The higher the miles on your car in a year’s time the higher your rates will be. A lot of insurance companies calculate rates based on how the vehicle is used. Autos that sit idle most of the time receive lower rates than cars that get driven a lot. It’s a smart idea to ensure your declarations sheet states the correct usage.
- Men pay higher rates – Statistics have proven that men are more aggressive behind the wheel. The data does not necessarily mean that women are BETTER drivers than men. Women and men tend to get into at-fault accidents in similar percentages, but males tend to have higher claims. In addition to higher claims, males also have more aggressive citations like DUI and reckless driving. Male teenagers are several times more likely to be in an accident and thus pay the highest rates.
- Lower deductibles cost more – Coverage for physical damage, also known as collision and other-than-collision, helps pay for damage to your vehicle. Examples of covered claims could be a windshield shattered by a rock, damage caused by hail, and rolling your vehicle. Comprehensive and collision coverage deductibles define the amount you are willing to pay out-of-pocket in the event of a claim. The more expense you have to pay, the less your company will charge you for insurance.
Discounts can really help to save
Car insurance is not cheap, but companies offer discounts to reduce the price significantly. Some of these disounts will be visible at the time of quoting, but a few must be specifically requested prior to getting the savings.
- Drive Less and Save – Low mileage vehicles could be rewarded with better prices on cars that stay parked.
- Club Memberships – Having an affiliation with a civic or occupational organization in Marinette could trigger savings on your bill.
- Theft Deterent – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are less likely to be stolen and therefore earn up to a 10% discount.
- Multiple Policy Discount – If you insure your home and vehicles and place coverage with the same company you will save up to 20% off your total premium.
- Early Payment Discounts – If you can afford to pay the entire bill rather than paying monthly you could save 5% or more.
- Discount for Good Grades – Excelling in school can earn a discount of 20% or more. Many companies even apply the discount to college students until age 25.
- Telematics Data – Drivers that enable their company to study where and when they drive by using a telematics device such as Progressive’s Snapshot could possibly reduce rates as long as the data is positive.
Please keep in mind that most of the big mark downs will not be given to all coverage premiums. Most only reduce individual premiums such as collision or personal injury protection. So when it seems like it’s possible to get free car insurance, you aren’t that lucky.
A few popular companies and some of the premium reductions they offer can be found below.
- The Hartford discounts include good student, driver training, air bag, defensive driver, anti-theft, bundle, and vehicle fuel type.
- American Family offers discounts for good student, multi-vehicle, TimeAway discount, bundled insurance, and good driver.
- Progressive offers premium reductions for multi-vehicle, continuous coverage, online signing, homeowner, good student, multi-policy, and online quote discount.
- Travelers offers discounts including early quote, home ownership, save driver, multi-policy, continuous insurance, student away at school, and new car.
- Farmers Insurance policyholders can earn discounts including electronic funds transfer, business and professional, alternative fuel, switch companies, mature driver, and distant student.
- USAA may include discounts for good student, driver training, multi-vehicle, military installation, annual mileage, and family discount.
- Liberty Mutual may offer discounts for newly married, exclusive group savings, multi-policy, new graduate, preferred payment discount, and good student.
If you need lower rates, check with every company to apply every possible discount. A few discounts might not apply in Marinette. If you would like to choose from a list of providers that offer the discounts shown above in Marinette, click here to view.
Is there truth in advertising?
Big name companies like State Farm, Allstate and Geico seem to constantly run television, radio, and online ads. All the ads advertise claims that drivers can save some big amount just by switching your policy. How is it plausible that every one can give you a lower rate? It’s all in the words they use.
Insurance companies have specific guidelines for the type of customer that will be a good risk. For example, a profitable risk profile might have to be over the age of 35, has no tickets, and drives less than 5,000 miles a year. Any driver who fits those characteristics will get very good Marinette premium rates and is almost guaranteed to cut their rates if they switch.
Drivers who do not meet the “perfect” profile must pay higher rates and ends up with the prospect going elsewhere. The ads state “customers who switch” but not “everyone who gets a quote” can save as much as they claim. This is how companies can make those claims. This illustrates why drivers should do a quote comparison often. It’s just not possible to know with any certainty which company will have the lowest rates.
Learn more about Wisconsin auto insurance
Additional detailed information can be read at the Wisconsin Office of the Commissioner of Insurance website. Wisconsin drivers can find disaster information, file complaints about a company, find out industry alerts, and learn about insurance regulations.
Don’t give up on cheaper premiums
As you shop your coverage around, don’t be tempted to buy less coverage just to save a little money. There have been many cases where someone sacrificed uninsured motorist or liability limits to discover at claim time that the few dollars in savings costed them thousands. Your aim should be to buy a smart amount of coverage at the best price.
A few companies don’t offer online rate quotes and most of the time these regional carriers only sell coverage through local independent agencies. Budget-friendly auto insurance is definitely available on the web and from local insurance agents, so you should compare both to have the best chance of lowering rates.