Feel like you have an underperforming, overpriced auto insurance policy? Trust us, you’re not the only one. With so many insurance companies to choose from, it is hard for the average consumer to locate a lower cost auto insurance provider.
You should make it a habit to compare prices once or twice a year due to the fact that insurance prices tend to go up over time. Just because you had the best rates on your last policy you can probably find a better premium rate now. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to the things you must know in order to save money, get proper deductibles and limits, all at the lowest rate.
Get cheap premiums by understanding these factors
When buying auto insurance it’s important to understand some of the factors that play a part in calculating the rates you pay for auto insurance. When you understand what influences your rates, this enables informed choices that will entitle you to lower premium levels.
- Your location is a factor – Choosing to live in less populated areas is a positive aspect when buying auto insurance. Fewer drivers on the road translates into fewer accidents in addition to fewer liability claims. Drivers in populated Montana areas regularly have much more traffic and higher rates of accident claims. More time commuting means more chances of being involved in an auto accident.
- How old are your drivers? – Mature drivers are shown to be more cautious, are lower risk to insure , and usually have better credit.Teenage drivers tend to be inattentive and easily distracted behind the wheel and because of this, their auto insurance rates are much higher.
- Raise comp and collision deductibles and save – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your vehicle. Some coverage claims would be a windshield shattered by a rock, damage from fire, and rolling your vehicle. Comp and collision deductibles are how much you are required to spend if a claim is determined to be covered. The more damage repair cost the insured is willing to pay, the better rate you will receive.
- Is your car built for speed? – The type of vehicle you are insuring makes a huge difference in your auto insurance rates. The lowest premiums will generally be found on lower cost passenger cars, but many other things help determine your insurance rates.
Lower rate quotes by applying discounts
Some insurers do not list the complete list of policy discounts in an easy-to-find place, so here is a list some of the more common as well as some of the hidden credits that may apply to you.
- College Student – Any of your kids who attend college more than 100 miles from home and do not have a car may be insured at a cheaper rate.
- Discount for Life Insurance – Select insurance companies reward you with a lower rate if you buy a life policy as well.
- Telematics Devices – People who choose to allow driving data collection to look at where and when they drive by using a telematic data system such as State Farm’s In-Drive could save a few bucks if they have good driving habits.
- Student Discounts – This discount can be rewarded with saving of up to 25%. The good student discount can last until age 25.
- Employee of Federal Government – Active or retired federal employment could qualify for a slight premium decrease but check with your company.
- Defensive Driver – Successfully completing a course that instructs on driving safety could earn you a small percentage discount and easily recoup the cost of the course.
As a disclaimer on discounts, most discount credits are not given to the entire policy premium. Some only apply to specific coverage prices like collision or personal injury protection. So despite the fact that it appears it’s possible to get free car insurance, you won’t be that lucky. But all discounts will reduce your policy cost.
Companies and the discounts they provide can be read below.
- Esurance offers discounts including multi-car, good student, safety device, good driver, Switch & Save, emergency road assistance, and renters.
- The Hartford offers discounts for bundle, anti-theft, good student, air bag, and driver training.
- AAA may have discounts that include multi-car, good student, multi-policy, pay-in-full, anti-theft, education and occupation, and AAA membership discount.
- Geico policyholders can earn discounts including military active duty, air bags, seat belt use, daytime running lights, multi-vehicle, and driver training.
- State Farm offers premium reductions for safe vehicle, passive restraint, good driver, driver’s education, defensive driving training, anti-theft, and student away at school.
If you are trying to find , ask all companies you are considering which discounts you may be entitled to. Discounts may not be offered in your area. To choose insurers with discount rates in Hot Springs, click here to view.
Truth in auto insurance advertising
Consumers in Montana can’t ignore all the ads that promise big savings for switching by companies like Progressive, Geico, Allstate and State Farm. They all seem to tend to make the same promise that drivers will save a bundle just by switching your auto insurance policy to them.
How is it plausible that every one can sell you cheaper insurance coverage? It’s all in how they say it.
All the different companies have a preferred profile for the right customer that is profitable for them. For instance, a desirable risk should be between the ages of 30 and 50, has no claims, and drives newer vehicles. A driver who fits that profile will get very good Hot Springs rates and therefore will save quite a bit of money when switching.
Consumers who do not meet this stringent profile may receive a higher rate which usually ends up with the customer not buying. The wording the ads use say “customers who switch” not “everybody who quotes” save that much money. This is how companies can make those claims.
This illustrates why it’s extremely important to do a price quote comparison at every renewal. It’s impossible to know which company will have the best premium rates at this point in time.
Your auto insurance coverage should be tailored to you
When it comes to buying adequate coverage for your vehicles, there really is no “best” method to buy coverage. Your needs are not the same as everyone else’s and your policy should reflect that. These are some specific questions can help discover whether your personal situation might need an agent’s assistance.
- Is my vehicle covered for flood damage?
- Why am I required to buy high-risk coverage?
- Can I afford to buy a different vehicle if my vehicle is totaled?
- Who is covered by my policy?
- What can I do if my company denied a claim?
- How high should my medical payments coverage be?
If you’re not sure about those questions but a few of them apply, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, free and may give you better protection.
Montana insurance information
More information can be read on the found here. Montana drivers can learn about specific coverages, view agent and company licensing information, and find disaster information.
The following articles may also be useful.
- Finding a Great Auto Insurance Provider in Hot Springs
- Is Your Hot Springs, AR Car Insurance Too High? Start Saving Today
Keep this in mind
As you , you should never buy lower coverage limits just to save a few bucks. There are a lot of situations where someone sacrificed collision coverage only to regret at claim time that the savings was not a smart move. Your goal should be to purchase a proper amount of coverage at the best possible price.
Budget-friendly auto insurance can be purchased on the web and also from your neighborhood Hot Springs agents, so you should compare both in order to have the best price selection to choose from. Some insurance providers do not offer internet price quotes and usually these regional carriers work with independent agents.