Are you a victim of high-priced auto insurance? Trust us when we tell you you’re not alone. Popular companies such as Progressive, GEICO and Farmers Insurance all claim big savings, bombarding you with advertising and it can be hard to ignore the flying pigs and cute green geckos and effectively compare rates to find the best deal.
Smart consumers take time to check auto insurance prices yearly since rates are rarely the same from one policy term to another. Just because you found the best deal six months ago there is a good chance you can find better rates now. Starting now, forget anything you know (or think you know) about auto insurance because we’re going to show you one of the quickest ways to lower your annual insurance bill.
If you have a policy now or need a new policy, you can use this information to find the best rates while maintaining coverages. Finding affordable coverage in Jackson is not rocket science. Wyoming drivers only need to know the proper way to get comparison rates over the internet.
Make smart decisions and save
It’s important that you understand the factors that go into determining your auto insurance rates. Knowing what determines base rates helps enable you to make changes that may reward you with big savings.
Listed below are a few of the “ingredients” that factor into rates.
- Marriage pays dividends – Having a spouse actually saves money on auto insurance. Having a significant other means you’re more mature and it’s statistically proven that married couples file fewer claims.
- Don’t sacrifice liability coverage – Your policy’s liability coverage is the coverage that protects you when a court rules you are at fault for damages from an accident. It provides legal defense up to the limits shown on your policy. Liability insurance is quite affordable as compared to coverage for physical damage, so do not skimp.
- Do you qualify for a multi-policy discount? – Some companies will give a discount to policyholders who buy several policies from them in the form of a multi-policy discount. Even with this discount, you may still want to shop around to make sure you are getting the best deal. Drivers may still find better rates by splitting coverages up.
- Where you reside plays a part – Choosing to live in a small town is a positive aspect when buying auto insurance. Less people living in that area means fewer accidents and a lower car theft rate. Drivers in populated Wyoming areas tend to have more traffic problems and longer commute times. Longer commute distances means more change of being in an accident.
- Better credit scores mean better rates – Having a bad credit history is a important factor in your rate calculation. So if your credit history is not that good, you could be paying less to insure your by improving your rating. Drivers who have high credit scores tend to be better drivers and file fewer claims than those with lower credit scores.
- Do you have a high stress job? – Occupations such as judges, business owners and dentists tend to have the highest average rates because of high stress levels and long work days. Other occupations such as actors, historians and retirees receive lower rates.
- More miles equals more premium – The higher the mileage driven in a year the more you will pay for auto insurance. Almost all companies price each vehicle’s coverage based upon how you use the vehicle. Cars and trucks not used for work or commuting get more affordable rates compared to those used for work or business. Ask your agent if your auto insurance declarations sheet is showing the correct usage for each vehicle.
- Cautious drivers pay less – Just one moving violation can bump up the cost by as much as thirty percent. Drivers who don’t get tickets receive lower rates compared to drivers with tickets. Drivers who have flagrant citations like DUI or reckless driving may need to file a SR-22 with the DMV in their state in order to keep their license.
Are you getting all your discounts?
Car insurance can cost a lot, but there are discounts available to help bring down the price. Larger premium reductions will be automatically applied at the time you complete a quote, but a few need to be manually applied before you will receive the discount. If you aren’t receiving every discount possible, you are throwing money away.
- Homeowners Discount – Being a homeowner can save you money due to the fact that maintaining a home is proof that your finances are in order.
- Military Discounts – Being on active duty in the military could be rewarded with lower premiums.
- Multiple Cars – Insuring all your vehicles on one policy could earn a price break for each car.
- Accident Free – Drivers with accident-free driving histories can earn big discounts when compared with drivers who are more careless.
- Passive Restraints – Cars that have air bags and/or automatic seat belt systems can get savings of up to 25% or more.
- Anti-lock Brake System – Vehicles with anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
- Discount for Life Insurance – Larger companies have better rates if you take out life insurance.
It’s important to note that many deductions do not apply the the whole policy. A few only apply to specific coverage prices like liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, you’re out of luck. Any qualifying discounts will bring down the amount you have to pay.
Informative consumer insurance sites
Additional information can be read on the website for the Wyoming Insurance Department. Click here for link. Visitors are able to report car insurance fraud, learn about insurance regulations, find disaster information, and get help finding coverage.
Summing up your auto insurance search
When trying to cut insurance costs, don’t be tempted to buy poor coverage just to save money. There are many occasions where an accident victim reduced physical damage coverage only to regret at claim time that the small savings ended up costing them much more. The ultimate goal is to get the best coverage possible at the best price while not skimping on critical coverages.
You just learned quite a bit of information on how to shop for auto insurance online. It’s most important to understand that the more providers you compare, the higher the chance of saving money. Consumers could even find that the most savings is with a smaller regional carrier. These companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm, GEICO and Nationwide.
Cost effective auto insurance is available online as well as from independent agents in Jackson, and you should be comparing both to have the best selection. Some companies don’t offer online quoting and most of the time these smaller companies sell through independent agents.