Are you sick and tired of paying out the nose to pay your car insurance bill each month? Your situation is no different than millions of other consumers.
Big companies like GEICO, Progressive and Allstate constantly blast consumers with catchy ads and consumers find it hard to see past the geckos and flying pigs and effectively compare rates to find the best deal.
It’s a good habit to get comparison quotes on a regular basis because insurance rates tend to go up over time. Even if you got the lowest rates two years ago the chances are good that you can find a lower rate today. There is a lot of bad information regarding car insurance on the internet, so we’re going to give you some great ways to quit paying high car insurance rates.
How to Lower your Car Insurance Rates
Consumers need to have an understanding of the rating factors that come into play when calculating your car insurance rates. Understanding what determines base rates helps enable you to make changes that will entitle you to big savings.
The list below includes a partial list of the pieces that factor into prices.
- Don’t get talked into coverage you don’t need – There are many extra coverages you can purchase on your policy. Insurance for roadside assistance, better glass coverage and additional equipment coverage are some examples. They may seem like a good idea when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.
- Younger drivers pay higher rates – Teenage drivers in Vermont are statistically proven to be less responsible in a vehicle so they pay higher car insurance rates. Mature drivers tend to be more responsible, file fewer claims and tend to be better behind the wheel.
- Being married is a good thing – Having a spouse can actually save you money when buying car insurance. Having a spouse means you’re more mature it has been statistically shown that married drivers get in fewer accidents.
- A clean driving record saves money – Drivers with clean records tend to pay less for car insurance than their less careful counterparts. Only having one citation may increase your cost twenty percent or more. Drivers with dangerous tickets like hit and run, DWI or reckless driving convictions are required to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to prevent a license revocation.
Don’t overlook these discounts
Insurance can be prohibitively expensive, but you can get discounts to reduce the price significantly. Some trigger automatically when you complete an application, but less common discounts must be asked for before you will receive the discount.
- Seat Belt Usage – Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% off the personal injury premium cost.
- E-sign – A few companies may give you up to $50 for buying a policy and signing up over the internet.
- Sign Early and Save – Some insurance companies reward drivers for switching to them prior to your current policy expiring. It can save you around 10%.
- Passive Restraints – Vehicles with factory air bags can get savings of more than 20%.
- Senior Citizens – Older drivers can possibly qualify for a small decrease in premiums.
- Military Discounts – Having a family member in the military could mean lower rates.
- Anti-lock Brake System – Vehicles equipped with ABS or steering control are safer to drive and earn discounts up to 10%.
- Life Insurance – Some companies give a break if you buy life insurance from them.
It’s important to note that some of the credits will not apply to the entire policy premium. Most only cut the cost of specific coverages such as liability, collision or medical payments. Even though it may seem like you would end up receiving a 100% discount, car insurance companies aren’t that generous. Any qualifying discounts will reduce the cost of coverage.
To see a list of providers offering car insurance discounts in Westminster, click here to view.
Is my situation unique?
When it comes to buying adequate coverage, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s and a cookie cutter policy won’t apply. Here are some questions about coverages that can help discover whether or not you would benefit from professional advice.
- How high should my uninsured/underinsured coverage be in Vermont?
- How many claims can I have before being cancelled?
- What is covered by UM/UIM coverage?
- Is there coverage for injuries to my pets?
- Should I buy more coverage than the required Vermont minimum liability coverage?
- Is my custom paint covered by insurance?
- Does my insurance cover my expensive audio equipment?
If it’s difficult to answer 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, simply complete this short form or go to this page to view a list of companies.
For more reading
Much more information about car insurance in Vermont can be read on the website for the Vermont Department of Financial Regulation located here. Vermont drivers can download brochures, read state legal mandates and laws, and find disaster information.
The following information may also be useful.
- Buy Westminster, MD Auto Insurance Like a Tightwad
- Is Your Westminster Car Insurance Leaving a Hole in Your Pocket?
- Westminster, CO Insurance Agencies Five Minutes to Find the Best
Buy online or local, you save
Lower-priced car insurance is definitely available online as well as from independent agents in Westminster, and you should compare price quotes from both to get a complete price analysis. Some car insurance companies don’t offer online quoting and many times these small insurance companies only sell through independent insurance agents.
As you go through the steps to switch your coverage, you should never reduce coverage to reduce premium. Too many times, someone dropped liability limits or collision coverage and learned later that the small savings ended up costing them much more. Your aim should be to get the best coverage possible for the lowest price.