Smart consumers take time to shop coverage around once or twice a year since insurance rates fluctuate regularly. Even if you got the best price last year there may be better deals available now. Don’t believe everything you read about auto insurance online but we’re going to give you some proven techniques to stop overpaying for insurance.
If you currently have car insurance, you stand a good chance to be able to lower your premiums substantially using these methods. This information will introduce you to the best way to quote coverages and some tricks to saving. But Vermont drivers do need to understand how the larger insurance companies market on the web and use this information to your advantage.
Tips to Get Lower South Burlington Rates
An important part of buying insurance is that you know the factors that play a part in calculating the rates you pay for auto insurance. Knowing what controls the rates you pay enables informed choices that could result in better auto insurance rates.
Shown below are some of the items auto insurance companies consider when setting premiums.
- Your credit rating is important – Your credit history is a important factor in your rate calculation. Therefore, if your credit is not that good, you could be paying less to insure your by spending a little time repairing your credit. People with high credit scores tend to be more responsible than drivers with lower credit scores.
- Never let your coverage lapse – Letting your insurance expire is a guaranteed way to bump up your auto insurance costs. Not only will you pay more, failure to provide proof of insurance will get you a license revocation or jail time.You may need to file a SR-22 with the Vermont motor vehicle department to get your license reinstated.
- Teen drivers pay high rates – Young drivers in Vermont are statistically proven to be careless and easily distracted when behind the wheel so auto insurance rates are higher. Older insureds are more cautious drivers, file fewer claims and get fewer tickets.
- More than one policy can earn a discount – Some companies will give a discount to customers who buy several policies from them, otherwise known as a multi-policy discount. Even though this discount sounds good, you may still want to compare other company rates to verify if the discount is saving money.
- High crash test scores lower rates – Safer cars get lower rates. Safe vehicles have better occupant injury protection and lower injury rates translates into fewer and smaller insurance claims and more competitive rates for policyholders.
- Traffic violations increase rates – Careful drivers get better rates compared to drivers with tickets. Even one moving violation can boost insurance rates by as much as thirty percent. If you have flagrant violations like reckless driving, hit and run or driving under the influence may find they need to file a SR-22 with their state motor vehicle department in order to keep their license.
- Big city or small town – Choosing to live in small towns and rural areas is a positive aspect when insuring your vehicles. Fewer drivers translates into fewer accidents and also fewer theft and vandalism claims. Drivers in populated Vermont areas regularly have more traffic problems and longer commute times. Higher commute times means higher likelihood of an accident.
Automobile Insurance Quotes in South Burlington
The are a couple different ways to compare rate quotes from different in South Burlingtoninsurance companies. The easiest way to find the cheapest insurance rates is to use the internet to compare rates. This is very easy and can be done in several different ways.
- The most efficient way to get quotes for comparison is an all-inclusive rate comparison like this one (opens in new window). This type of form eliminates the need for repetitive form entry for each company you want a rate for. A single form will return price quotes from auto insurance companies with the best prices. Recommended for those who want to invest the least amount of time.
- A different way to compare prices is to manually visit each company website and fill out their own quote form. For sake of this example, we’ll pretend you want to compare USAA, Safeco and State Farm. To get each rate you have to spend time on each company’s site to enter your coverage information, and that’s why the first method is more popular.
For a list of links to insurance companies in South Burlington, click here.
Whichever way you use, ensure you’re using exactly the same coverage limits and deductibles on every quote. If you are comparing different liability limits then you won’t be able to determine the lowest rate in South Burlington. Quoting even small variations in limits could mean much higher rates. And when quoting auto insurance, remember that more quotes gives you a better chance of getting a better price.
Do auto insurance companies bend the truth?
State Farm, GEICO and Progressive consistently run ads in print and on television. All the companies make the same claim of big savings if you change to their company. How do they all make almost identical claims? It’s all in the numbers.
Different companies are able to cherry pick for the right customer that makes them money. A good example of a preferred risk might be profiled as over the age of 50, has no driving citations, and drives newer vehicles. A customer who matches those parameters gets the lowest rates and is almost guaranteed to save when switching.
Consumers who do not match these standards must pay a more expensive rate and this can result in the customer not buying. The ads state “drivers who switch” but not “drivers who get quotes” save that much. That is how companies can make those claims. This illustrates why drivers must get as many quotes as possible. Because you never know which insurance companies will provide you with the cheapest rates.
Policy discounts you shouldn’t miss
Car insurance companies don’t always list all their discounts in an easy-to-find place, so here is a list some of the best known and also the lesser-known discounts you could be receiving.
- Homeowners Pay Less – Simply owning a home may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
- Anti-lock Brakes – Vehicles equipped with ABS or steering control prevent accidents and will save you 10% or more.
- New Vehicle Savings – Buying coverage on a new vehicle can cost up to 25% less because new vehicles have to meet stringent safety requirements.
- Pay Now and Pay Less – If you pay your entire premium ahead of time rather than paying monthly you could save up to 5%.
- Passive Restraints – Vehicles equipped with air bags or motorized seat belts may earn rate discounts up to 30%.
- Safety Course Discount – Taking part in a course in driver safety could cut 5% off your bill depending on where you live.
- Good Students Pay Less – This discount can save 20 to 25%. The discount lasts well after school through age 25.
- Auto/Home Discount – If you have multiple policies with one company you will save at least 10% off all policies.
- Organization Discounts – Belonging to certain professional organizations could qualify you for a break when shopping for auto insurance.
A little note about advertised discounts, some of the credits will not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like medical payments or collision. So even though they make it sound like all those discounts means the company will pay you, auto insurance companies aren’t that generous.
More detailed Vermont auto insurance information can be read at the Vermont Department of Financial Regulation website. Vermont drivers can report car insurance fraud, find disaster information, read industry bulletins, and view agent and company licensing information.
Best coverage at the best price
People who switch companies do it for any number of reasons including high rates after DUI convictions, being labeled a high risk driver, delays in responding to claim requests and even policy non-renewal. Whatever your reason, choosing a new insurance company is easier than you think.
Low-cost auto insurance can be found from both online companies and also from your neighborhood South Burlington agents, so you should compare both to have the best selection. Some insurance companies may not provide online price quotes and these small, regional companies work with independent agents.
In this article, we covered many ideas to reduce auto insurance prices online. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. Consumers may even find the lowest premiums are with a small local company.