Finding the lowest price for Hannibal car insurance might seem complicated at first if you have never used online quoting. But don’t let that discourage you because online price shopping is actually quite simple.
It’s a good idea to get comparison quotes once or twice a year due to the fact that insurance rates fluctuate regularly. Even if you think you had the best deal on your last policy you can probably find a lower rate today. Ignore everything you know about car insurance because we’re going to demonstrate one of the best ways to lower your rates without sacrificing coverage.
Components of your insurance rates
It’s important that you understand the rating factors that come into play when calculating car insurance rates. Understanding what controls the rates you pay helps enable you to make changes that could result in much lower annual insurance costs.
- Lower rates with optional equipment – Choosing a vehicle with anti-theft technology or alarm system can help bring down rates. Theft prevention features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart your vehicle from being stolen.
- Policy add-ons can waste money – There are a ton of additional coverages that you can buy on your policy. Insurance for vanishing deductibles, towing coverage and additional equipment coverage are examples of these. They may seem good when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
- Higher safety ratings means cheaper insurance – Cars with high safety ratings tend to have better insurance rates. These vehicles protect occupants better and any reduction in injury severity means lower claim amounts passed on to you as lower rates.
- Do you qualify for a multi-policy discount? – Some car insurance companies give discounts to people who buy several policies from them in the form of a multi-policy discount. Even if you’re getting this discount it’s in your best interest to compare rates to make sure you are getting the best deal. Drivers may still find a better deal by insuring with multiple companies.
- Rural vs Urban Areas – Residing in a rural area has it’s advantages when insuring your vehicles. Fewer drivers translates into fewer accidents and a lower car theft rate. City drivers regularly have congested traffic and longer commute times. Higher commute times can result in more accidents.
- Clean credit earns discounts – Credit score is a big factor in determining your rates. Consumers who have high credit ratings tend to be less risk to insure than those with lower ratings. If your credit rating is low, you could potentially save money when insuring your by spending a little time repairing your credit.
- Liability coverage is peace of mind – The liability section of your policy is the coverage that protects you if a jury decides you are liable for causing damage or personal injury in an accident. It will provide legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.
Are you getting all your discounts?
Car insurance is not cheap, but you may find discounts to help bring down the price. A few discounts will automatically apply when you complete an application, but a few must be requested specifically before they will apply.
- Memberships – Being a member of a professional or civic organization is a good way to get lower rates when buying car insurance.
- Accident Forgiveness – Some insurance companies will allow you to have one accident without raising rates so long as you haven’t had any claims for a particular time prior to the accident.
- Anti-lock Brake System – Vehicles equipped with ABS or steering control can reduce accidents and qualify for as much as a 10% discount.
- Drive Less and Save – Fewer annual miles could qualify for better rates on cars that stay parked.
- Save over 55 – Older drivers may be able to get a discount up to 10%.
- Employee of Federal Government – Simply working for the federal government may qualify you for a discount with select insurance companies.
As a disclaimer on discounts, some of the credits will not apply to your bottom line cost. Most only cut the cost of specific coverages such as medical payments or collision. Even though it may seem like it’s possible to get free car insurance, car insurance companies aren’t that generous. But all discounts will help reduce the amount you have to pay.
To see a list of companies with the best car insurance discounts in Missouri, click here to view.
Neighborhood agents for car insurance
Certain consumers just want to talk to a local agent and that is OK! The biggest benefit of getting online price quotes is the fact that you can find the best rates but also keep your business local. And providing support for small agencies is especially important in Hannibal.
Once you complete this short form, the coverage information is sent to participating agents in Hannibal who will compete to get your business. You don’t have to drive around due to the fact that quote results will go to the email address you provide. How cool is that?! You can find better rates and a licensed agent to work with.
Types of insurance agencies in Hannibal
When looking for a good insurance agency, you must know there are a couple different agency structures to choose from. Insurance agencies in Hannibal are either independent (non-captive) or captive.
Independent Agencies or Brokers
These agents do not work for one specific company but instead can place your coverage amongst many companies and potentially find a lower price. If your agent finds better pricing, your agent can switch companies and you won’t have to switch agencies.
When shopping rates, we recommend you include at a minimum one independent agency for the best price selection. Most have the option of insuring with lesser-known insurance companies which can save you money.
Shown below is a short list of independent insurance agents in Hannibal that may be able to provide price quotes.
- Western Frontier Insurance – 12400 Four Winds Pl – Hannibal, MO 63401 – (573) 221-3934
- Fohey-Nason Agency – 8976 County Road 412 – Hannibal, MO 63401 – (573) 221-1898
- Mc Clelland Insurance – 134 Highway 61 S – Hannibal, MO 63401 – (573) 248-1777
Captive agents can only place business with one company and examples are State Farm or Allstate. They usually cannot give you multiple price quotes so keep that in mind. These agents receive extensive training in insurance sales which can be an advantage. Some people will only buy insurance from these agents primarily because of high brand loyalty and strong financial ratings.
Shown below is a list of captive insurance agencies in Hannibal that can give you price quote information.
- Farm Bureau Insurance – 3 Diamond Blvd – Hannibal, MO 63401 – (573) 248-0223
- State Farm Insurance – 2727 Saint Marys Ave # J – Hannibal, MO 63401 – (573) 221-0204
- Shelter Insurance – 2711 Saint Marys Ave – Hannibal, MO 63401 – (573) 221-3321
For a full directory of car insurance agents in Hannibal, please click here.
Selecting an auto insurance agent requires more thought than just the bottom line cost. Any agent should be forthright in answering these questions:
- Do they review policy coverages at every renewal?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Are claims handled at the agent’s location?
- What are the financial ratings for the companies they represent?
- What insurance company do they write the most business with?
- Will your rates increase after a single accident?
- Do they have adequate Errors and Ommissions coverage? This protects you if they make a mistake.
Once you have good answers to any questions you have as well as a affordable price, it’s possible that you found an insurance agency that can insure your vehicles.
Do I need special coverages?
When buying the right insurance coverage for your personal vehicles, there isn’t really a perfect coverage plan. Every insured’s situation is different.
For example, these questions may help you determine if you would benefit from an agent’s advice.
- Can I afford low physical damage deductibles?
- Does my personal auto insurance policy cover using my vehicle for business use?
- When do I need to add a new car to my policy?
- Does coverage extend to a rental car in a foreign country?
- Do no-fault laws apply in Missouri?
- Is my vehicle covered by my employer’s policy when using it for work?
- Is my business laptop covered if it gets stolen from my vehicle?
If you don’t know the answers to these questions but a few of them apply, you may need to chat with an insurance agent. To find lower rates from a local agent, complete this form.
Online resources for education
Additional car insurance information can be found on the Missouri Department of Insurance website. Click here for link. Visitors are able to learn about insurance regulations, file complaints about an insurance agent or broker, and find disaster information.
More effort can pay off
We just covered a lot of information how to reduce car insurance prices online. The key thing to remember is the more quotes you get, the better your chances of lowering your rates. You may be surprised to find that the lowest rates come from a small mutual company.
Affordable car insurance can be sourced on the web in addition to many Hannibal insurance agents, so you should be comparing quotes from both to have the best selection. Some companies do not provide online quoting and usually these small, regional companies provide coverage only through local independent agents.
People change insurance companies for a number of reasons such as high rates after DUI convictions, policy non-renewal, questionable increases in premium and high prices. No matter why you want to switch, switching car insurance companies is easier than you think.