Having to pay for overpriced auto insurance can dwindle your bank account and force you to make sacrifices. Doing a price comparison is a smart way to help make ends meet. Because you have many options when it comes to auto insurance, it is very difficult to locate the right car insurance company.
Discounts are great for lower rates
Insuring your fleet can be pricey, but you may find discounts that you may not even be aware of. Some discounts apply automatically when you quote, but some may not be applied and must be asked for before you will receive the discount. If you’re not getting every credit you qualify for, you’re just leaving money on the table.
- Pay Upfront and Save – By paying your policy upfront instead of making monthly payments you can actually save on your bill.
- Senior Discount – Mature drivers may qualify for a small decrease in premiums.
- Safe Driver Discount – Drivers who avoid accidents can pay as much as 50% less than less cautious drivers.
- College Student – Any of your kids living away from home attending college and don’t have a car may be able to be covered for less.
- Anti-lock Brakes – Vehicles with anti-lock braking systems can avoid accidents and therefore earn up to a 10% discount.
- Passive Restraints and Air Bags – Vehicles equipped with air bags and/or automatic seat belt systems can get savings up to 30%.
- Driver Safety – Taking a driver safety course could cut 5% off your bill depending on where you live.
- No Charge for an Accident – A handful of insurance companies permit an accident before your rates go up if your claims history is clear prior to the accident.
It’s important to note that most credits do not apply the the whole policy. The majority will only reduce individual premiums such as liability, collision or medical payments. Just because it seems like having all the discounts means you get insurance for free, auto insurance companies aren’t that generous. But any discount will bring down your premiums.
For a list of providers who offer auto insurance discounts in Indiana, follow this link.
Informed Drivers can Cut Their Rates
Consumers need to have an understanding of the different types of things that go into determining your auto insurance rates. Having a good understanding of what impacts premium levels enables informed choices that could result in lower auto insurance prices.
Listed below are a few of the “ingredients” auto insurance companies consider when setting premiums.
- Mature drivers pay less – Mature drivers tend to be more responsible, file fewer claims and tend to be better behind the wheel. Teen drivers are statistically proven to be careless and easily distracted in a vehicle and because of this, their auto insurance rates are much higher.
- Cautious drivers pay less – Whether or not you get tickets has a big impact on rates. Drivers who don’t get tickets get better rates compared to drivers with tickets. Even one citation can bump up the cost by twenty percent. Drivers with flagrant tickets such as DUI or reckless driving are required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to keep their license.
- Never let your coverage lapse – Allowing your coverage to lapse is a quick way to bump up your auto insurance costs. And not only will your rates increase, getting caught without coverage may earn you a revoked license or a big fine.
- Safer cars are cheaper to insure – Vehicles with high crash test scores tend to have better insurance rates. Safer cars result in less severe injuries and fewer injuries means less money paid by your insurance company and lower rates for you.
- Pay less after the wedding – Having a wife or husband can actually save you money on your auto insurance policy. Marriage translates into being more mature than a single person and statistics show married couples file fewer claims.
- High deductibles save money – Deductibles for physical damage represent how much money you are willing to pay out-of-pocket before your auto insurance pays a claim. Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. A few examples of covered claims are colliding with a building, damage from fire, and rolling your vehicle. The more expense you have to pay, the bigger discount you will receive.
You may need specialized coverage
When it comes to buying proper insurance coverage for your personal vehicles, there really is not a cookie cutter policy. Every insured’s situation is different and your policy should reflect that. For example, these questions might help in determining whether or not you might need an agent’s assistance.
- Why am I be forced to buy a membership to get insurance from some companies?
- Is borrowed equipment or tools covered if stolen or damaged?
- Am I covered when driving on a suspended license?
- Does medical payments coverage apply to all occupants?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Should I buy only the required Indiana minimum liability coverage?
- Does my vehicle qualify for pleasure use?
- What if I total my vehicle and owe more than it’s worth?
If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an agent. To find an agent in your area, complete this form or click here for a list of auto insurance companies in your area. It is quick, free and can provide invaluable advice.
More information can be read on the website for the Indiana Department of Insurance. Click here for link. Visitors are able to file complaints about an insurance agent or broker, find out industry alerts, and view a list of available companies.
A tidy conclusion
We’ve covered a lot of ways to compare auto insurance prices online. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. You may even discover the best prices are with a company that doesn’t do a lot of advertising. They may often insure only within specific states and give getter rates than their larger competitors like Geico and State Farm.
As you go through the steps to switch your coverage, never buy poor coverage just to save money. There have been many cases where an accident victim reduced physical damage coverage only to regret at claim time that the savings was not a smart move. Your focus should be to get the best coverage possible at the best price.