Scraping up a payment for overpriced car insurance can empty your bank account, especially in this economy. Comparison shopping is a great way to lower your monthly bill.
Since consumers have many choices of insurance companies, it’s difficult to pick the most affordable provider.
It’s a great practice to shop coverage around quite often due to the fact that insurance rates change frequently. Despite the fact that you may have had the best rates two years ago a different company probably has better rates today. Forget anything you know (or think you know) about car insurance because you’re about to learn the only way to save money, get proper deductibles and limits, all at the lowest rate.
Are you getting all your discounts?
Companies offering auto insurance don’t always list all their discounts in a way that’s easy to find, so we break down both well-publicized and the harder-to-find car insurance savings.
- Braking Control Discount – Vehicles with anti-lock braking systems can reduce accidents and qualify for as much as a 10% discount.
- Low Mileage – Fewer annual miles can qualify you for discounted rates on garaged vehicles.
- Employee of Federal Government – Being employed by or retired from a federal job can save as much as 8% with a few car insurance companies.
- New Car Discount – Adding a new car to your policy is cheaper since new cars are generally safer.
- Save over 55 – If you’re over the age of 55, you can possibly qualify for reduced rates.
- Drivers Education – Require your teen driver to enroll in driver’s education in high school.
- Anti-theft System – Anti-theft and alarm systems help deter theft and qualify for as much as a 10% discount.
Consumers should know that most discounts do not apply the the whole policy. Most cut specific coverage prices like comprehensive or collision. Just because it seems like you would end up receiving a 100% discount, it doesn’t quite work that way.
Even more information is available at the Louisiana Department of Insurance website. Louisiana consumers can find out industry alerts, read enforcement actions against agents and companies, read state legal mandates and laws, and view agent and company licensing information.
Final thoughts
The cheapest car insurance can be bought on the web as well as from independent agents in New Iberia, and you need to price shop both to get a complete price analysis. A few companies don’t offer online quoting and many times these regional insurance providers only sell through independent insurance agents.
As you shop your coverage around, make sure you don’t reduce coverage to reduce premium. There are too many instances where someone sacrificed uninsured motorist or liability limits only to regret that the few dollars in savings costed them thousands. Your goal should be to purchase a proper amount of coverage at the best price while not skimping on critical coverages.