Overpriced car insurance can empty your bank account and make it impossible to make ends meet. Doing a price comparison is a great way to help make ends meet.
Because you have many companies and agents to choose from, it can be impossible to choose the best company.
Finding affordable coverage in Hope is not rocket science. If you currently have a car insurance policy, you stand a good chance to be able to save some money using this information. But Arkansas consumers do need to understand how insurance companies price insurance differently and apply this information to your search.
How to Compare Car Insurance Quotes in Hope
There are multiple methods to compare car insurance prices but some are less labor-intensive and much quicker. You can waste hours talking about coverages with insurance companies in Hope, or you can utilize the internet to achieve your goal.
Many companies belong to a marketplace that allows shoppers to enter their coverage request one time, and each participating company returns a rated price based on that data. This prevents consumers from doing repetitive form submissions to each individual car insurance company.
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One minor caviat to comparing rates this way is you don’t know exactly which insurance companies to get pricing from. So if you prefer to choose from a list of companies for rate comparison, we have a listing of low cost car insurance companies in Arkansas. Click to view list.
It’s up to you how you get prices quotes, just be sure to compare the exact same coverages and limits on every quote you get. If you are comparing differing limits it will be impossible to decipher which rate is best in Hope. Slightly different limits can mean a large discrepancy in price. And when comparison shopping, comparing a large number of companies will increase your chances of finding a better price.
Do car insurance companies bend the truth?
Car insurance companies such as Allstate and Progressive regularly use ads in print and on television. They all seem to have a common claim that you can save if you move your coverage to them. How do they all say the same thing? It’s all in the numbers.
All companies have a preferred profile for the right customer that is profitable for them. For example, a preferred risk might be between the ages of 40 and 55, has no driving citations, and has excellent credit. A customer getting a price quote who meets those qualifications will qualify for the lowest rates and most likely will cut their rates substantially.
Potential insureds who don’t measure up to this ideal profile will have to pay more money and this can result in business going elsewhere. Company advertisements say “drivers who switch” but not “drivers who get quotes” save that much. That’s why companies can truthfully state the savings. Because of the profiling, you should get a wide range of price quotes. You cannot predict which insurance companies will provide you with the cheapest rates.
How insurance companies determine rates
Smart consumers have a good feel for the factors that help determine your car insurance rates. When you know what positively or negatively impacts premium levels enables informed choices that may reward you with lower car insurance prices.
The following are a few of the “ingredients” car insurance companies consider when setting rates.
- Lower deductibles cost more – Physical damage coverage, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some examples of claims that would be covered are collision with another vehicle, damage from fire, or theft. Deductibles for physical damage are how much you are willing to pay in the event of a claim. The higher the amount the insured has to pay upfront, the less your company will charge you for insurance.
- Lower miles equals lower premium – The more miles you rack up on your car in a year’s time the more you will pay for car insurance. Almost all companies charge to insure your cars determined by how the vehicle is used. Autos that are left in the garage get more affordable rates than those used for commuting. Verify your car insurance policy properly reflects how each vehicle is driven.
- Never allow your policy to lapse – Having an insurance coverage lapse will be a quick way to pay more for car insurance. Not only will rates go up, but not being able to provide proof of insurance will get you a license revocation or jail time.
- Rates may be lower depending on your job – Did you know that where you work can have an impact on rates? Jobs such as real estate brokers, architects and accountants tend to pay higher rates than average in part from high stress and lengthy work days. On the flip side, jobs such as pilots, athletes and homemakers have the lowest average rates.
- Sex matters – Statistics show that men are more aggressive behind the wheel. Now that doesn’t mean women are better drivers. They both have accidents in similar numbers, but men tend to have more serious accidents. Men also have more aggressive citations like reckless driving and DUI.
- Your spouse saves you money – Having a spouse can actually save you money on car insurance. Having a spouse usually means you are more mature than a single person it has been statistically shown that being married results in fewer claims.
- Discounts for multiple policies – Many car insurance companies will award you with lower prices to people who carry more than one policy in the form of a multi-policy discount. Even with this discount, it’s in your best interest to compare rates to ensure the best deal.
Do you qualify for discounts?
Companies don’t always publicize every available discount very well, so the following is a list of some of the more common and the harder-to-find ways to save on car insurance.
- Accident Waiver – Some insurance companies allow you one accident before raising your premiums so long as you haven’t had any claims for a particular time prior to the accident.
- Early Signing – Some insurance companies reward drivers for buying a policy prior to your current policy expiration. This can save 10% or more.
- Anti-lock Brakes – Cars that have steering control and anti-lock brakes can reduce accidents and therefore earn up to a 10% discount.
- Homeowners Pay Less – Owning a house in Hope can help you save on car insurance because maintaining a house shows financial diligence.
- Save with a New Car – Adding a new car to your policy can be considerably cheaper compared to insuring an older model.
- Employee of Federal Government – Being employed by or retired from a federal job could cut as much as 10% off with certain companies.
Consumers should know that most discounts do not apply to the overall cost of the policy. Most only cut the cost of specific coverages such as medical payments or collision. Just because you may think all those discounts means the company will pay you, you won’t be that lucky.
Can’t I compare rates from local Hope agents?
Some people just want to buy from a local agent. One of the great benefits of price shopping on the web is you may find the lowest rates but still work with a licensed agent.
For easy comparison, once you complete this quick form, your insurance coverage information is immediately sent to agents in your area who will return price quotes for your business. You never need to visit any agencies because quoted prices will be sent straight to your inbox. It doesn’t get any easier! You can find better rates and an insurance agent to talk to.
Picking an provider needs to be determined by more than just the bottom line cost. Here are some questions to ask:
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
- Is their price quote a firm figure or are their hidden costs?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do they make recommendations based only on price?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Can they provide you with a list of referrals?
Do you need an independent or captive insurance agency?
When searching for a good Hope insurance agent, there are a couple of different types of agents that differ in how they can insure your vehicles. Agencies in Hope are categorized either captive or independent (non-captive).
Captive Agents
Captive insurance agents can only place business with one company like Farmers Insurance or State Farm. These agents are unable to shop your coverage around so they are skilled at selling on more than just price. Captive agents are well schooled on their company’s products and that can be a competitive advantage.
The following are Hope captive agents who may provide you with price quote information.
Farm Bureau Insurance – 1902 E 3rd St – Hope, AR 71801 – (870) 777-9002
Shelter Insurance – 909 S Main St – Hope, AR 71801 – (870) 777-5710
State Farm Insurance – 807 E 3rd St – Hope, AR 71801 – (870) 777-2929
Independent Agents
Independent agents are not employed by any specific company so they can insure your vehicles with any number of different companies depending on which coverage is best. To move your coverage to a new company, an independent agent can move your coverage and you won’t have to switch agencies.
When searching for an agent, it’s recommended you include price quotes from several independent insurance agents for the best price selection.
Shown below are independent agents in Hope that can give you price quotes.
Greening-Ellis Insurance – 209 S Main St – Hope, AR 71801 – (870) 777-4661
Frazier Insurance – 506 E 2nd St – Hope, AR 71801 – (870) 777-8633
For a full directory of Hope insurance agents, visit this site.
Upon receiving acceptable answers to your questions as well as a affordable price, it’s possible that you found a car insurance agent that is a good match to adequately provide car insurance.
Cheaper insurance is a realistic goal
Affordable car insurance is available both online and also from your neighborhood Hope agents, so you should be comparing quotes from both so you have a total pricing picture. Some insurance companies may not provide you the ability to get quotes online and most of the time these small insurance companies sell through independent agents.
When buying insurance coverage, never skimp on coverage in order to save money. There are too many instances where an insured cut full coverage only to regret at claim time that the savings was not a smart move. Your goal should be to buy enough coverage for the lowest price, not the least amount of coverage.
Additional consumer information websites
More detailed Arkansas car insurance information is available at the Arkansas Insurance Department website. Arkansas consumers can learn about specific coverages, report car insurance fraud, read enforcement actions against agents and companies, and file complaints about an insurance agent or broker.