Did you fall for a flashy sales pitch and buy high-priced auto insurance? Don’t sweat it because you are not the only one feeling buyer’s remorse. Due to the increasing number of choices of insurance companies, it’s nearly impossible to locate the most affordable insurance company.
Verify you’re earning every discount
Insuring your fleet can be pricey, but you might be missing out on some discounts that can help lower your rates. Certain discounts will be applied at quote time, but some discounts are required to be specifically requested in order for you to get them.
- Paperwork-free – Certain insurance companies will give you a small discount for buying a policy and signing up on their website.
- Cautious Driver Discounts – Drivers who avoid accidents may save up to 50% more compared to accident prone drivers.
- Discount for Swiching Early – A few auto insurance companies allow discounts for buying a new policy prior to your current policy expiring. This discount can save up to 10%.
- Pay Now and Pay Less – By paying your entire bill at once instead of making monthly payments you can actually save on your bill.
- Accident Forgiveness Coverage – This one is not really a discount per se, but some insurance companies will forgive one accident before they charge you more for coverage with the catch being you have to be claim-free prior to the accident.
One thing to note about discounts is that some of the credits will not apply to all coverage premiums. Most only cut individual premiums such as liability, collision or medical payments. Even though it appears all those discounts means the company will pay you, companies wouldn’t make money that way.
To see insurance companies that offer the discounts shown above in Bradford, click this link.
When should I discuss my situation with an agent?
When buying coverage for your personal vehicles, there is no “perfect” insurance plan. Everyone’s needs are different so your insurance should reflect that For example, these questions may help highlight whether or not you might need professional guidance.
- How many claims can I have before being cancelled?
- Do I qualify for additional discounts?
- Should I sign the liability waiver when renting a car?
- Do I pay less if my vehicle is kept in my garage?
- Do I need higher deductibles?
- Am I covered when driving in Canada or Mexico?
- What is covered by UM/UIM coverage?
- Do I need to file an SR-22 for a DUI in Pennsylvania?
- Do I need rental car coverage?
If you can’t answer these questions but one or more may apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier
Slick advertising tricks that work
Respected companies like State Farm, Allstate and Geico endlessly run ads on television and other media. They all seem to seem to make the promise about saving some big amount after switching your auto insurance coverage to their company. That’s great but how can every company offer you a better deal? This is the way they can do it.
Companies have specific guidelines for the type of insured that earns them the highest profit. A good example of a desirable insured should be over the age of 40, carries full coverage, and drives less than 10,000 miles a year. A propective insured that matches those criteria gets the lowest rates as well as save a lot of money.
Consumers who do not match these standards will probably have to pay more expensive rates with the end result being the customer buying from someone else. The ad wording is “people who switch” not “all people who quote” save money. This is how insurance companies can advertise the way they do.
Because every company is different, drivers must do a rate comparison at every renewal. It is impossible to guess which auto insurance company will give you lower car insurance rates than your current company.
Additional reading for auto insurance information
Additional information is located on the website for the Pennsylvania Insurance Department located here. Pennsylvania drivers can view a list of available companies, discover disciplinary actions, read state legal mandates and laws, and find a variety of consumer forms.
What is YOUR best insurance company?
As you go through the steps to switch your coverage, it’s very important that you do not reduce coverage to reduce premium. Too many times, an insured dropped uninsured motorist or liability limits only to find out they didn’t have enough coverage. Your goal is to find the BEST coverage for the lowest cost while not skimping on critical coverages.
Cost effective auto insurance can be found both online and from local insurance agents, so you need to with both to have the best selection. Some companies may not provide rate quotes online and many times these smaller providers only sell through local independent agencies.
We just covered a lot of information how to save on auto insurance. The most important thing to understand is the more price quotes you have, the more likely it is that you will get a better rate. Consumers may even find the biggest savings come from the least-expected company. These smaller insurers may often insure only within specific states and give getter rates compared to the large companies like Geico and State Farm.