Sick and tired of trying to scrape together enough money to insure your vehicles every month? You’re in the same situation as many other Arkansas consumers.
Having so many insurance companies to choose from, it’s difficult to pick the most affordable provider.
Why you might pay higher rates in Sherwood
Smart consumers have a good feel for some of the elements that go into determining your car insurance rates. Having a good understanding of what impacts premium levels allows you to make educated decisions that could result in lower car insurance prices.
- The type of vehicle makes a difference – The type of car you drive makes a significant difference in your rates. The most favorable rates are for economy passenger cars, but the cost you end up paying is determined by many additional factors.
- Higher safety ratings means cheaper insurance – Vehicles with good safety scores can get you lower premiums. The safest vehicles reduce injuries and lower injury rates means less money paid by your insurance company and lower rates for you.
- Multi-policy discounts can save money – Some insurers will give a discount to policyholders who buy several policies from them, otherwise known as a multi-policy discount. If you currently are using one company, you may still want to compare other company rates to ensure the best deal. Drivers may still find better rates by buying car insurance from a different company.
- Your job and insurance rates – Did you know your occupation can influence how much you pay for car insurance? Occupations such as doctors, business owners and accountants tend to have higher rates than average in part from high stress and lengthy work days. On the flip side, occupations like farmers, athletes and performers receive lower rates.
- Credit scores impact car insurance rates – Credit rating is a important factor in determining your rates. People with excellent credit tend to be more responsible than drivers who have poor credit. Therefore, if your credit score can use some improvement, you could save money insuring your by improving your rating.
Are you getting all your discounts?
Companies that sell car insurance don’t always list all available discounts in an easy-to-find place, so we break down both well-publicized and also the lesser-known car insurance savings.
- Own a Home – Being a homeowner can help you save on car insurance because owning a home is proof that your finances are in order.
- Passive Restraints – Factory air bags or motorized seat belts can get savings of more than 20%.
- Driver Safety – Successfully completing a defensive driving course could save 5% or more if your company offers it.
- Accident Free – Claim-free drivers pay less when compared with frequent claim filers.
- Bundle and Save – If you have multiple policies with one company you will save at least 10% off all policies.
- Accident Forgiveness – A handful of insurance companies permit an accident without raising rates as long as you don’t have any claims prior to the accident.
- Anti-theft System – Vehicles equipped with anti-theft or alarm systems help deter theft and earn discounts up to 10%.
- Lower Rates for Military – Being on active duty in the military can result in better rates.
- Safe Driver Discount – Drivers who don’t get into accidents may save up to 50% more than their less cautious counterparts.
- Senior Discount – If you qualify as a senior citizen, you may receive a discount up to 10%.
Consumers should know that most credits do not apply to the entire policy premium. The majority will only reduce individual premiums such as physical damage coverage or medical payments. Even though it may seem like you could get a free car insurance policy, it doesn’t quite work that way.
To choose insurance companies who offer car insurance discounts in Arkansas, click here to view.
Your insurance agent down the street
Some people prefer to buy from a local agent and that is just fine! One of the best bonuses of getting online price quotes is you may find the lowest rates and still have an agent to talk to.
By using this form (opens in new window), your insurance data is instantly submitted to local insurance agents in Sherwood who will give you bids for your business. You won’t need to even leave your home as quotes are delivered directly to your email. How’s that for easy! It’s the lowest rates and a licensed agent to work with.
Deciding on an insurer needs to be determined by more than just the bottom line cost. Agents should be asked these questions:
- Is assistance available after office hours?
- What insurance companies do they work with?
- Is their price quote a firm figure or are their hidden costs?
- Is the agent and/or agency licensed to do business in Arkansas?
- Do they assist clients in filing claims?
- Do they receive special compensation for putting your coverage with one company over another?
- What are the financial ratings for the companies they represent?
- Do they regularly work with personal auto policies?
Captive or Independent: There is a difference
When looking for a good Sherwood insurance agent, there are two types of agencies from which to choose. Insurance agencies in Sherwood are either captive or independent (non-captive).
Captive agencies can only place business with one company and some examples include Allstate, Farmers Insurance, State Farm and AAA. They usually cannot compare other company’s rates so always compare other rates. Captives receive extensive training on the products they sell which can be an advantage.
The following is a list of captive agencies in Sherwood that are able to give price quotes.
Shelter Insurance – 2001 E Kiehl Ave # 12 – Sherwood, AR 72120 – (501) 835-0700
Allstate Insurance – 4620 John F Kennedy Blvd – Sherwood, AR 72116 – (501) 758-6209
State Farm Insurance – 3601 E Kiehl Ave – Sherwood, AR 72120 – (501) 834-3730
Independent insurance agents are not locked into one company so they have the ability to put coverage with any number of different companies enabling the ability to shop coverage around. To transfer your coverage to a different company, your agent can switch companies without you having to go to a different agency. When searching for an agent, you should always get quotes from multiple independent agents to get the best comparison.
The following are Sherwood independent insurance agencies that can give you price quote information.
Frank Schulte Insurance – 1610 E Kiehl Ave # A – Sherwood, AR 72120 – (501) 835-9590
Thomas and Assoc Agency Inc – 3156 Austin Bayside Dr – Sherwood, AR 72120 – (501) 834-8700
Horace Mann Insurance Co – 19 Donnell Dr – Sherwood, AR 72120 – (501) 833-1882
To view a complete directory of car insurance agents in Sherwood, simply jump to this page.
After getting positive feedback and a good coverage price, you may have just found an auto insurance agent that is a good match to provide car insurance coverage.
Beware of misleading car insurance ads
Car insurance providers like State Farm, Allstate and GEICO consistently run ads on television and other media. They all say the same thing of big savings if you change your policy. How does each company say the same thing? This is how they do it.
Insurance companies can use profiling for the type of customer they prefer to insure. For instance, a profitable customer could possibly be between 30 and 50, has no prior claims, and chooses high deductibles. Any new insured who fits that profile gets the lowest rates and as a result will probably pay quite a bit less when switching companies.
Potential customers who don’t qualify for the requirements must pay higher premiums which usually ends up with business going elsewhere. The ads say “customers who switch” but not “drivers who get quotes” save money. This is how companies can truthfully advertise the savings. This illustrates why it’s extremely important to get as many comparisons as possible. It’s impossible to know which company will have the lowest rates.
Insurance agents can help
When it comes to buying the best car insurance coverage, there really is not a best way to insure your cars. Everyone’s needs are different so this has to be addressed. For instance, these questions might point out if your situation might need an agent’s assistance.
- Which companies will insure high-risk drivers?
- Am I covered when using my vehicle for business?
- When should my teen driver be added to my policy?
- Am I covered by my spouse’s policy after a separation?
- Can I afford to buy a different vehicle if my vehicle is totaled?
- Do I benefit by insuring my home with the same company?
If you can’t answer these questions, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.
Additional consumer information websites
Even more information can be read at the Arkansas Insurance Department website. Arkansas drivers can find out industry alerts, view a list of available companies, view agent and company licensing information, and read state legal mandates and laws.
In this article, we covered many ideas to compare car insurance prices online. The key thing to remember is the more companies you get rates for, the better your comparison will be. You may even find the lowest premiums are with the least-expected company. These companies may cover specific market segments cheaper than their larger competitors like Progressive or GEICO.
Discount car insurance is possible on the web and also from your neighborhood Sherwood agents, so you should compare both to have the best rate selection. Some companies may not provide online price quotes and many times these smaller companies only sell through independent insurance agents.