If you’re new to shopping for , you may be bewildered by the sheer number local agents and online companies that all say they have the best rates.
You should make it a habit to price shop coverage quite often because prices are rarely the same from one policy term to another. Just because you found the best rate a couple years back you will most likely find a better premium rate today. Forget anything you know (or think you know) about car insurance because I’m going to teach you the things you must know in order to find better rates and still maintain coverage.
If you currently have car insurance, you will be able to lower your premiums substantially using this strategy. The purpose of this article is to instruct you on the most effective way to quote insurance and some tips to save money. Although Oregon drivers do need to learn how the larger insurance companies price insurance differently and take advantage of how the system works.
There are several ways of comparing rate quotes from many different Oregon insurance companies. The best way to find affordable insurance rates involves getting comparison quotes online. This can be accomplished by using one of the methods below.
- The recommended way consumers can make multiple comparisons is a comparison rater form click here to open form in new window. This type of form saves time by eliminating separate forms for every company. A single, simple form will return price quotes from all major companies. This is perfect if you don’t have a lot of time.
- A harder way to shop for car insurance online is to manually visit the website for every company you want to comare to complete a price quote. For examples sake, we’ll pretend you want to view quotes from State Farm, Progressive and American Family. To get each rate you have to spend time on each company’s site to input your insurance information, which can get rather old.
For a list of links to companies insuring cars in Cornelius, click here.
Whichever way you choose to compare rates, do your best to use exactly the same coverage limits and deductibles for every quote you compare. If your comparisons have higher or lower deductibles you can’t possibly truly determine the lowest rate in Cornelius. Slightly different coverages may result in large price differences. Just remember that having more price comparisons will improve the odds of getting the best price.
Ads can be misleading
Progressive, Geico, Allstate and State Farm seem to constantly run ads on television and other media. They all seem to advertise the message that drivers will save a bundle if you switch your car insurance policy to them. How is it plausible that every one can save you money? This is how they do it.
All companies can use profiling for the driver that earns them the highest profit. For instance, a profitable customer may need to be married and over the age of 30, has no driving citations, and has excellent credit. A customer getting a price quote who fits those characteristics will most likely get cheap prices and will save if they switch.
Drivers who don’t qualify for those standards may be forced to pay a higher premium and business going elsewhere. Company advertisements say “people who switch” not “all people who quote” save that kind of money. That’s why insurance companies can confidently make those statements. Because every company is different, you need to do a price quote comparison at every renewal. It is just not possible to predict which car insurance company will give you the biggest savings.
Informed consumers save more
An important part of buying insurance is that you know a few of the rating criteria that play a part in calculating your premiums. If you understand what influences your rates, this enables you to make decisions that could help you find better car insurance rates. Lots of things are part of the equation when you get your auto insurance bill. Some are pretty understandable like an MVR report, but some are less obvious like where you live or your financial responsibility.
- Teenage driver insurance rates – Inexperience drivers tend to get distracted easily behind the wheel so car insurance rates are higher. Mature drivers are more responsible, cause fewer claims and accidents .
- Marriage is a good thing – Walking down the aisle may save some money compared to being single. Having a spouse translates into being more mature and statistics prove being married results in fewer claims.
- Your address can modify price – Being located in less populated areas may provide you with better prices when shopping for auto insurance. Drivers who live in large cities tend to have more auto accidents and more severe claims. Fewer drivers translates into fewer accidents in addition to fewer liability claims.
- Car insurance liability insurance limits – The liability section of your policy is the protection in the event that you are ruled to be at fault for personal injury or accident damage. Liability provides you with a defense in court to defend your case. This coverage is very inexpensive compared to insuring for physical damage coverage, so do not cut corners here.
- Raising physical damage deductibles saves money – Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your car from damage. Some coverage claims are a broken side mirror, collision with an animal, and damage caused by flying debris. Physical damage deductibles represent how much money the insured will be required to pay if you file a covered claim. The higher the amount you have to pay, the bigger discount you will receive.
- Deter theft and lower premiums – Buying a car with an alarm system can get you a discount on your car insurance. Anti-theft features like vehicle immobilizer systems, OnStar, and tracking devices like LoJack help track and prevent auto theft.
Car insurance policy discounts
Car insurance can cost a lot, but you might find some hidden discounts that you may not know about. Certain discounts will be triggered automatically when you complete an application, but a few must be asked about before you get the savings. If you are not receiving all the discounts possible, you may be paying too high a price.
- Use Seat Belts – Requiring all passengers to use their safety belts can save a little on the premium charged for medical payments and/or PIP.
- Driving Data Discount – People who choose to allow their insurance company to study vehicle usage remotely such as Drivewise from Allstate or Snapshot from Progressive might get better premium rates if they show good driving skills.
- Driver’s Ed – Cut your cost by having your teen driver sucessfully take a drivers education course as it will make them better drivers and lower rates.
- Include Life Insurance and Save – If the company offers life insurance, you could get a small discount if you purchase life insurance from them.
- Student in College – Any of your kids living away from home attending college and won’t have access to an insured vehicle may be able to be covered for less.
- Renewal Discounts – Some car insurance companies reward drivers for buying a policy early. Ten percent is about the average savings.
- Discount for Multiple Policies – When you combine your homeowners and auto insurance with one insurance company you may earn at least 10% off all policies.
- Good Student Discount – Performing well in school may save you up to 25%. The good student discount can last well after school through age 25.
- Cornelius Homeowners Pay Less – Just owning your own home may trigger a policy discount on car insurance since owning and maintaining a home demonstrates responsibility.
- 55 and Retired – Drivers that qualify as senior citizens may qualify for a small discount on rates.
As a footnote on discounts, most discount credits are not given the the whole policy. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. So even though it sounds like all those discounts means the company will pay you, it’s just not the way it works.
The best car insurance companies and some of the premium reductions they offer can be read below.
- Travelers offers discounts for student away at school, save driver, multi-policy, home ownership, good student, and multi-car.
- 21st Century offers discounts including driver training, air bags, defensive driver, homeowners, and student driver.
- State Farm has savings for passive restraint, accident-free, good student, multiple autos, multiple policy, defensive driving training, and Steer Clear safe driver discount.
- Geico offers premium reductions for military active duty, anti-lock brakes, membership and employees, multi-policy, daytime running lights, and air bags.
- SAFECO may have discounts that include homeowner, anti-lock brakes, safe driver, teen safe driver, anti-theft, multi-car, and accident prevention training.
- AAA includes discounts for multi-policy, multi-car, AAA membership discount, education and occupation, and pay-in-full.
When getting , it’s a good idea to each company or agent the best way to save money. Some of the discounts discussed earlier may not apply to policies everywhere. For a list of car insurance companies with the best discounts in Oregon, click here.
How do I know if I need professional advice?
When it comes to buying adequate coverage for your vehicles, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs.
These are some specific questions might point out whether your personal situation might need professional guidance.
- Should I drop comprehensive coverage on older vehicles?
- Can my teen driver be rated on a liability-only vehicle?
- Am I covered if I wreck a rental car?
- Will I lose any money if I cancel my policy before it expires?
- Does my policy cover my teen driver if they drive my company car?
- Is my nanny covered when driving my vehicle?
If it’s difficult to answer those questions, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form.
More effort can pay off
In this article, we presented a lot of information how to lower your car insurance rates. The key thing to remember is the more rate quotes you have, the higher the chance of saving money. Consumers may even find the best rates are with a small local company.
Insureds switch companies for many reasons like high prices, an unsatisfactory settlement offer, high rates after DUI convictions and policy non-renewal. Regardless of your reason, finding a great new company can be less work than you think.
Cheaper car insurance is definitely available on the web as well as from insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance companies do not provide the ability to get quotes online and usually these regional carriers only sell through local independent agencies.
Read more about Oregon car insurance
Additional detailed information can be found at the Oregon Insurance Division website. Visitors are able to learn about specific coverages, find out industry alerts, and find disaster information.