Feel like you’re a prisoner to an overpriced car insurance policy? Believe me when I say there are lots of people in the same boat.
Many insurers vie for your business, so it can be very hard to choose a provider to find the absolute lowest cost out there.
It’s a good habit to compare prices quite often because rates go up and down regularly. Just because you found the lowest price a year ago there may be better deals available now. You’ll find quite a bit of inaccurate information about car insurance on the internet, so I’m going to show you some good information on how to slash your car insurance rates.
Factors that affect insurance rates
An important part of buying insurance is that you know the rating factors that come into play when calculating the rates you pay for car insurance. When you know what positively or negatively controls the rates you pay helps enable you to make changes that can help you get better car insurance rates.
The list below includes a few of the “ingredients” that factor into your rates.
- Performance makes a difference – The type of car you are insuring makes a huge difference in your rates. The lowest base rates are for economy passenger cars, but other factors influence the final cost greatly.
- Multi-policy discounts can save money – Many insurers provide better rates to insureds who carry more than one policy such as combining an auto and homeowners policy. Discounts can be five, ten or even twenty percent. If you currently are using one company, it’s still a good idea to comparison shop to make sure you are getting the best deal. You may still find better rates by buying car insurance from a different company.
- A lapse in coverage is a bad thing – Allowing your car insurance policy to lapse is a fast way to trigger a rate increase. And not only will your rates increase, failure to provide proof of insurance will get you a steep fine or even jail time.
- High crash test scores lower rates – Vehicles with high crash test scores are cheaper to insure. These vehicles reduce injuries and better occupant protection means less money paid by your insurance company and more competitive rates for policyholders.
- High numbers of claims are not good – Auto insurance companies in Indiana award lower rates to people who do not rely on their insurance for small claims. If you frequently file small claims, you can look forward to either policy cancellation or increased premiums. Your insurance policy is intended to be relied upon for larger claims.
Comprehensive Richmond Car Insurance Comparison
Most companies quote price estimates on the web. Getting quotes is quite easy as you simply type in the coverage amounts you desire as detailed in the form. Behind the scenes, the system collects reports for credit and driving violations and quotes a price. Being able to quote online streamlines rate comparisons, but the work required to visit different websites and complete many quote forms gets old quite quickly. But it’s very important to compare as many rates as possible in order to find the best price possible.
An easier way to compare rates uses one form that gets price quotes from multiple companies. It saves time, eliminates repetitive work, and makes price shopping online a lot less work. As soon as you send your information, it is rated and you can select any one of the quotes that you receive. If a lower price is quoted, it’s easy to complete the application and buy the new coverage. The entire process takes just a few minutes to complete and you will know how your current rates stack up.
In order to get comparison pricing now, click here and input your coverage information. If you currently have coverage, we recommend you copy the limits and deductibles identical to your current policy. This makes sure you will get rate quotes using the exact same coverages.
Discounts are basically free money
Companies that sell car insurance don’t always list all available discounts very clearly, so the following is a list of some of the more common and the more hidden discounts you could be receiving.
- Sign Online – A handful of insurance companies will discount your bill up to fifty bucks just for signing your application digitally online.
- Clubs and Organizations – Participating in a professional or civic organization could qualify you for a break on car insurance.
- Save with a New Car – Buying coverage on a new vehicle can be considerably cheaper compared to insuring an older model.
- Student in College – Children who live away from home and do not have a car can receive lower rates.
- Theft Prevention Discount – Anti-theft and alarm systems are stolen less frequently and qualify for as much as a 10% discount.
- Own a Home – Simply owning a home can help you save on car insurance because of the fact that having a home is proof that your finances are in order.
- Employee of Federal Government – Employees or retirees of the government can save as much as 8% with select insurance companies.
Keep in mind that some of the credits will not apply to the overall cost of the policy. Most only apply to individual premiums such as medical payments or collision. Just because you may think all the discounts add up to a free policy, it just doesn’t work that way.
For a list of insurers who offer car insurance discounts in Richmond, click this link.
Can’t I compare rates from local Richmond agents?
Some people would rather visit with an insurance agent and that is a personal choice. One of the great benefits of comparing insurance prices online is you can get lower rates but also keep your business local.
After completing this simple form, your coverage information is submitted to companies in Richmond who will compete for your insurance coverage. You don’t have to leave your computer because quoted prices will be sent to the email address you provide. How’s that for easy! You can find better rates AND a local agent.
Deciding on an insurer needs to be determined by more than just a low price. Ask your prospective agent these questions:
- Is the agent and/or agency licensed to do business in Indiana?
- Are claim adjusters local or do you have to take your car somewhere else?
- If your car is totalled, how to they determine the replacement cost?
- If they are an independent agency, which companies do they recommend?
- If you are a high risk driver, do they have special markets for your coverage?
- Is the agency involved in supporting local community causes?
- What insurance companies do they work with?
- Will your rates increase after a single accident?
Shown below are Richmond car insurance companies that are able to give price quote information.
Doug Auger Insurance – 1903 National Rd W, Richmond, IN 47374 – (765) 966-7268
State Farm Insurance – 1055 Engel Dr, Richmond, IN 47374 – (765) 966-4536
Farm Bureau Insurance – 1444 NW 5th St, Richmond, IN 47374 – (765) 962-9548
Thackrey Insurance – 1810 Williamsburg Pike, Richmond, IN 47374 – (765) 962-4700
Upon getting acceptable answers for all questions you ask and an affordable coverage quote, most likely you have located a company that is a good match to adequately provide car insurance.
When should I talk to an agent?
When it comes to choosing the best car insurance coverage, there really is not a single plan that fits everyone. Your needs are not the same as everyone else’s so your insurance needs to address that. Here are some questions about coverages that can help discover whether your personal situation might need professional guidance.
- Does coverage extend to a rental car in a foreign country?
- Am I covered when using my vehicle for business?
- Is there coverage for injuries to my pets?
- Am I covered when driving in Canada or Mexico?
- Do I need added coverage for expensive stereo equipment?
- How high should my uninsured/underinsured coverage be in Indiana?
- Does my policy cover my teen driver if they drive my company car?
If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area.
More tips and info about car insurance is available at the Indiana Department of Insurance website. Consumers can read industry bulletins, get help finding coverage, find a variety of consumer forms, and find out industry alerts.
These articles may also be worth reading.
- 8 Ways You Can Buy Auto Insurance for Less in Richmond, KY
- Best Car Insurance Exclusively for Richmond Residents
Online plus local equals savings
Discount car insurance is attainable online as well as from independent agents in Richmond, and you need to price shop both to get a complete price analysis. A few companies don’t offer the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.
We just showed you many ideas to compare car insurance prices online. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. Consumers could even find that the lowest rates come from a smaller regional carrier. These smaller insurers often have lower prices on specific markets than their larger competitors like Allstate, GEICO and Progressive.
As you shop your coverage around, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many instances, someone dropped liability coverage limits only to regret that the savings was not a smart move. Your strategy should be to buy a smart amount of coverage at the best price while still protecting your assets.