Nobody looks forward to paying for car insurance, in particular when their premiums are through the roof. Numerous insurance companies battle for your insurance dollar, and because of this it can be hard to compare car insurance companies to find the absolute best rate
Do you qualify for a discount?
Insurance can be prohibitively expensive, but there are discounts available that can drop the cost substantially. Most are applied at the time of purchase, but a few must be specifically requested before they will apply. If you aren’t receiving every discount available, you are throwing money away.
- Federal Government Employee – Employees or retirees of the government can earn a discount up to 10% with a few car insurance companies.
- Pay Now and Pay Less – By paying your policy upfront instead of paying each month you may reduce your total bill.
- Senior Citizens – Mature drivers may qualify for reduced rates.
- New Vehicle Savings – Buying coverage on a new vehicle can save up to 30% since new cars are generally safer.
- Club Memberships – Affiliation with a professional or civic organization is a good way to get lower rates on car insurance.
- Use Seat Belts – Requiring all passengers to use a seat belt could cut 10% or more off your medical payments premium.
- Fewer Miles Equal More Savings – Fewer annual miles could be rewarded with discounted rates on garaged vehicles.
A little note about advertised discounts, most discount credits are not given to all coverage premiums. Most only cut specific coverage prices like liability, collision or medical payments. Just because it seems like all the discounts add up to a free policy, companies wouldn’t make money that way. But all discounts will cut your premiums.
To see a list of insurers with the best car insurance discounts in Hickory, click this link.
Why some people pay less for insurance in Hickory
Smart consumers have a good feel for the factors that go into determining the price you pay for car insurance. Understanding what influences your rates helps enable you to make changes that could result in lower car insurance prices.
Listed below are a partial list of the pieces that factor into premiums.
- How credit affects car insurance rates – Having a bad credit history is a huge factor in determining your rates. If your credit is not that good, you could be paying less to insure your by improving your rating. Consumers who have high credit ratings tend to be less risk to insure than drivers who have lower credit scores.
- Liability coverage is cheap – Liability coverage is the coverage that protects you when you are found liable for damages caused by your negligence. It provides legal defense coverage which can cost thousands of dollars. Liability insurance is quite affordable when compared with rates for comp and collision, so do not cut corners here.
- Proper usage rating affects rates – Driving more miles every year the more you will pay for car insurance. The majority of insurers price each vehicle’s coverage based on their usage. Cars that are left in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Verify your car insurance coverage is showing the proper vehicle usage.
- Discounts for married couples – Being married can actually save you money on car insurance. It is viewed as being more responsible and it’s statistically proven that drivers who are married are more cautious.
- More than one policy can earn a discount – The majority of insurance companies will give a discount to people who carry more than one policy, otherwise known as a multi-policy discount. Even with this discount, it’s still a good idea to shop around to ensure the best deal.
- Extra add-on coverages are wasting money – There are a lot of additional coverages that can waste your money when buying car insurance. Things like roadside assistance, accident forgiveness and membership fees are some examples. These coverages may sound good when you first buy your policy, but your needs may have changed so remove them from your policy.
- Where you live is a factor – Being located in less populated areas has it’s advantages when insuring your vehicles. Drivers in populated areas regularly have congested traffic and longer commutes to work. Fewer drivers means a lower chance of having an accident.
- More performance means more cost – The make and model of the vehicle you are insuring makes a significant difference in the rate you pay. Lower performance four cylinder passenger cars generally have the cheapest insurance rates, but the final cost of insurance is determined by many other factors.
What coverages do I need?
When it comes to choosing proper insurance coverage, there is no cookie cutter policy. Everyone’s situation is unique so your insurance needs to address that. For instance, these questions may help highlight whether or not you might need an agent’s assistance.
- Is my nanny covered when driving my vehicle?
- When does my teenage driver need to be added to my policy?
- Are my tools covered if they get stolen from my vehicle?
- Is my vehicle covered by my employer’s policy when using it for work?
- Do I need PIP coverage since I have good health insurance?
- Am I getting all the discounts available?
- What if I don’t agree with a claim settlement offer?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Are there companies who specialize in insuring high-risk drivers?
- What is covered by UM/UIM coverage?
If you can’t answer these questions but one or more may apply to you, you might consider talking to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.
Car insurance myths debunked
Consumers can’t get away from ads for car insurance savings by companies like 21st Century, Allstate and State Farm. They all say the same thing that you’ll save big if you move to them.
But how can every company make the same claim?
All the different companies have a preferred profile for the type of customer that is profitable for them. For instance, a driver they prefer could be between 25 and 40, insures multiple vehicles, and has great credit. A driver that hits that “sweet spot” is entitled to the best price and most likely will save a lot of money.
Potential customers who do not match the “perfect” profile must pay a higher premium and this can result in the driver buying from a lower-cost company. The ads say “customers who switch” not “people who quote” save that kind of money. This is how insurance companies can state the savings.
This illustrates why drivers must compare many company’s rates. It’s impossible to know the company that will have the lowest rates.
Much more information about car insurance in North Carolina is located on the website for the North Carolina Department of Insurance through this link. Consumers can view a list of available companies, learn about insurance regulations, and download brochures.
Compare but don’t skimp
Cheap car insurance is attainable online and with local Hickory insurance agents, so compare prices from both so you have a total pricing picture. Some insurance providers do not offer the ability to get a quote online and these small insurance companies work with independent agents.
We just showed you many tips how you can reduce car insurance prices online. The key thing to remember is the more providers you compare, the better likelihood of reducing your rate. Consumers may even find the lowest priced car insurance comes from a small mutual company. Regional companies may often insure only within specific states and give getter rates as compared to the big name companies such as Progressive and Geico.