Scraping up a payment for overpriced auto insurance can take a big chunk out of your checking account and put a big crunch on your finances. Comparing price quotes is a smart way to slash your bill and have more diposable income. Many insurance companies compete for your business, so it’s not easy to compare every insurance company and uncover the absolute cheapest price
Don’t pay full price with these discounts
Insurance can cost an arm and a leg, but companies offer discounts that you may not know about. Larger premium reductions will be automatically applied when you get a quote, but some may not be applied and must be specifically requested prior to getting the savings. If you aren’t receiving every discount available, you’re paying more than you need to.
- Good Students Pay Less – Performing well in school can get you a discount of up to 25%. The discount lasts well after school through age 25.
- Seat Belt Usage – Requiring all passengers to use a seat belt can save 10% or more on the medical payments or PIP coverage costs.
- Drive Less and Save – Low mileage vehicles can qualify you for better rates on cars that stay parked.
- Drivers Education – Cut your cost by having your teen driver take driver’s ed class if it’s offered in school.
- Military Discounts – Having a family member in the military could be rewarded with lower premiums.
Drivers should understand that most credits do not apply to the overall cost of the policy. Some only reduce individual premiums such as comprehensive or collision. So when it seems like all those discounts means the company will pay you, it doesn’t quite work that way. Any amount of discount will cut your overall premium however.
Your personal situation dictates your coverage
When choosing the best auto insurance coverage, there is no single plan that fits everyone. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For instance, these questions may help highlight whether your personal situation will benefit from professional help.
- How many claims can I have before being cancelled?
- When would I need additional glass coverage?
- Do I have any recourse if my insurance company denies a claim?
- Do all my vehicles need collision coverage?
- When should I remove comp and collision on my vehicle?
- What is high-risk coverage and where do I buy it?
- What are the financial responsibility laws in Minnesota?
- What can I do if my company won’t pay a claim?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Is my cargo covered for damage or theft?
If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to an agent. To find lower rates from a local agent, fill out this quick form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and can help protect your family.
Auto insurance ads bend the truth
Minnesota consumers can’t ignore all the ads for car insurance savings from the likes of State Farm, Allstate and GEICO. All the ads say the same thing that you can save if you change your coverage to them.
How do they all make almost identical claims? This is how they do it.
All companies have a certain “appetite” for the type of driver that makes them money. A good example of a driver they prefer might be over the age of 40, insures multiple vehicles, and chooses high deductibles. A propective insured who fits that profile receives the best rates and as a result will probably save when switching.
Consumers who don’t measure up to this ideal profile will have to pay a higher premium which leads to business going elsewhere. The ads state “drivers who switch” not “everyone that quotes” save money. That is how insurance companies can claim big savings.
Because of the profiling, it’s extremely important to compare as many rates as you can. It is impossible to predict which company will provide you with the cheapest rates.
Learn more today
Much more information about auto insurance in Minnesota can be read on the website for the Minnesota Department of Commerce located here. Minnesota drivers can view a list of available companies, get help finding coverage, find disaster information, and discover disciplinary actions.
Best coverage at the best price
The cheapest auto insurance can be sourced online in addition to many White Bear Lake insurance agents, and you need to comparison shop both to have the best chance of lowering rates. Some auto insurance companies do not provide online quoting and these smaller companies work with independent agents.
As you shop your coverage around, it’s a bad idea to skimp on critical coverages to save a buck or two. In too many instances, an insured dropped liability coverage limits and found out when filing a claim they didn’t have enough coverage. Your focus should be to purchase plenty of coverage at a price you can afford.