Are you burned out from wondering where the money will come from each month for car insurance? You’re in the same situation as most other drivers in Virginia. You have so many insurance companies to buy insurance from, and although it’s nice to have a selection, more choices can make it harder to compare rates and find the lowest cost car insurance.
Six things that impact your rates
Many different elements are part of the equation when premium rates are determined. Some are obvious like an MVR report, but other factors are more transparent such as your credit history or your commute time. Consumers need to have an understanding of some of the things that help determine the price you pay for car insurance. If you have a feel for what determines premiums, this helps enable you to make changes that can help you get lower premium levels.
- Theft deterrents save – Selecting a car model with anti-theft technology or alarm system can get you a discount on your car insurance. Theft deterrent systems like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping your vehicle from being stolen.
- Liability limits are a factor – Liability insurance will provide protection if you are found liable for damages caused by your negligence. Your policy’s liability insurance provides you with a defense in court which can be incredibly expensive. Liability insurance is pretty cheap as compared to coverage for physical damage, so drivers should make sure they buy enough to cover all assets.
- Bad credit will cost you – Credit score factor in determining what you pay. Therefore, if your credit is low, you could save money insuring your vehicle by improving your credit score. People with very high credit ratings tend to be better drivers and file fewer claims than drivers with bad credit.
- Infrequent drivers can save – The more you drive in a year’s time the more you’ll pay to insure it. Most insurance companies calculate rates based upon how the vehicle is primarily used. Cars and trucks used primarily for pleasure use receive better premium rates compared to those used for work or business. Make sure your vehicle rating shows annual mileage, because improper ratings can cost you money.
- Raising physical damage deductibles lowers rates – Physical damage coverage, also known as collision and other-than-collision, covers your vehicle from damage. A few examples of covered claims are a windshield shattered by a rock, damage caused by hail, and rolling your vehicle. Physical damage deductibles define how much you are willing to pay before your car insurance pays a claim. The higher the amount you have to pay, the less money you will pay for car insurance.
- lapses raise car insurance rates – Driving without insurance is against the law and as a result your rates will increase for letting your insurance coverage expire. And not only will insurance be more expensive, failure to provide proof of insurance can result in a steep fine or even jail time. You may then have to file a SR-22 with the Virginia department of motor vehicles.
Cheaper Virginia car insurance quotes with discounts
Buying car insurance is not cheap, but discounts can save money and there are some available that can dramatically reduce your bill. Certain discounts will be triggered automatically when you complete an application, but some must be asked for before you get the savings.
- Multi-policy Discount – If you combine your auto and homeowners policies with the same insurance company you will save 10% to 20% off each policy.
- Professional Organizations – Being in certain professional organizations is a simple method to lower premiums on your next renewal.
- Driver’s Education for Students – Teen drivers should participate in a local driver’s education class if offered at their school.
- Employee of Federal Government – Being employed by or retired from a federal job could provide a small rate reduction with select insurance companies.
- Discount for Home Ownership – Being a homeowner may earn you a small savings since owning and maintaining a home means you have a higher level of financial diligence.
- Air Bags and Passive Restraints – Vehicles equipped with air bags or automatic seat belts can get savings of 20 to 30 percent.
You should keep in mind that most discount credits are not given the the whole policy. Most cut the cost of specific coverages such as liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, you aren’t that lucky.
Popular car insurance companies and a selection of discounts are shown below.
- State Farm offers discounts including multiple autos, Drive Safe & Save, Steer Clear safe driver discount, safe vehicle, driver’s education, and accident-free.
- Liberty Mutual may have discounts that include multi-car, multi-policy, new move discount, exclusive group savings, and new vehicle discount.
- American Family offers discounts for bundled insurance, early bird, good driver, mySafetyValet, and Steer into Savings.
- Progressive policyholders can earn discounts including good student, multi-vehicle, multi-policy, online quote discount, and continuous coverage.
- Farmers Insurance discounts include electronic funds transfer, bundle discounts, business and professional, multi-car, and homeowner.
- Auto-Owners Insurance may include discounts for paperless, safe driver, paid in full, air bags, anti-theft, multi-policy, and student away at school.
- SAFECO offers premium reductions for teen safety rewards, multi-car, teen safe driver, anti-lock brakes, and accident prevention training.
If you want , ask every prospective company how you can save money. A few discounts may not apply to policyholders in Vinton.
What if I want to buy from local Vinton insurance agencies?
Many people just want to go talk to an agent. One of the best bonuses of getting online price quotes is the fact that you can find the best rates but also keep your business local. Buying from and supporting local insurance agents is important especially in Vinton.
After filling out this simple form, your insurance coverage information is sent to insurance agents in Vinton who will give you quotes to get your business. You won’t need to leave your computer as quotes are delivered straight to your inbox. It’s the lowest rates and a licensed agent to talk to. If you want to compare rates from a specific car insurance provider, just search and find their rate quote page and fill out the quote form the provide.
If you would like help to find an agent near you, view this full listing of insurance agents in Vinton.
Finding the right insurer is decision based upon more than just a cheap price quote. These are some questions you should get answers to.
- Do they reduce claim amounts on high mileage vehicles?
- Does the quote include credit and driving reports?
- Does the agency have a current Errors and Omissions policy?
- If your car is totalled, how to they determine the replacement cost?
- Can you contact them at any time?
- Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
If you get good feedback to any questions you have and locked in a price quote, you have narrowed it down to an provider that is professional and can properly insure your vehicles.
Do you really save 40% when you switch?
Companies like State Farm, Allstate and GEICO constantly bombard you with ads on TV and radio. They all seem to advertise the message about savings after switching to their company. But how can every company make the same claim? It’s all in the wording.
All the different companies have specific criteria for the driver that earns them a profit. For example, a profitable insured could be a married male, carries full coverage, and insures a new vehicle. Anyone that matches those criteria will get the preferred rates and will probably save quite a bit of money when switching.
Consumers who may not quite match these criteria will see higher premiums and this can result in the customer buying from a different company. If you listen closely, the ads state “people that switch” but not “all drivers who get quotes” can save as much as they claim. That’s the way insurance companies can make claims that they all have the best auto insurance rates.
This really illustrates why it’s extremely important to compare quotes as often as possible. You cannot predict with any certainty which company will provide you with the cheapest rates.
Additional information can be found on the located here. Visitors are able to get help finding coverage, find disaster information, file complaints about a company, and read industry bulletins.
Smart consumers save more
As you restructure your insurance plan, make sure you don’t reduce coverage to reduce premium. There are a lot of situations where someone dropped full coverage only to regret at claim time that the savings was not a smart move. The aim is to buy enough coverage for the lowest cost, but do not skimp to save money.
Lower-priced car insurance can be found from both online companies as well as from insurance agents, so get from both of them to get a complete price analysis. Some insurance companies don’t offer the ability to get quotes online and usually these small, regional companies sell through independent insurance agents.