Think you have an expensive car insurance policy? You’re in good company because you’re not the only one. Since you have so many insurance companies to choose from, it can be impossible to locate the best car insurance provider.
You need to compare prices every six months because rates change frequently. Even if you got the best rate six months ago there is a good chance you can find better prices now. There is a lot of bad information regarding car insurance online but you can learn some guaranteed methods to slash your car insurance rates.
There are multiple methods to compare car insurance quotes, but one way is more efficient than others. You could spend the better part of a day driving to insurance companies in Newton, or you can utilize online quoting for quick rates.
Many of the larger companies participate in an industry program where prospective buyers submit one quote, and at least one company can give them a price for coverage. This saves time by eliminating quote requests to each company. To compare rates now click here (opens in new window).
The one disadvantage to pricing coverage this way is you are unable to specify the providers to receive prices from. If you would rather choose individual companies to receive pricing from, we have assembled a list of car insurance companies in North Carolina. Click here to view list.
Whichever method you choose, ensure you’re using exactly the same coverages on every quote. If you compare different deductibles it’s not possible to determine the best price in Newton.
Can you really save $473 a year?
Consumers can’t escape the ads that claim the lowest premium rates from the likes of Geico, State Farm and Progressive. They all seem to have a common claim about how much you will save if you just switch your coverage.
How does every car insurance company offer drivers better rates? It’s all in the words they use.
Car insurance companies have specific criteria for the type of customer that will generate a profit. For example, a preferred risk might be described as between the ages of 30 and 50, has no claims, and does not commute to work. Any new insured who matches those parameters will get the preferred rates as well as cut their rates substantially.
Potential customers who do not fit these criteria may receive higher rates which results in business going elsewhere. If you pay close attention to the ads, they say “customers who switch” but not “all drivers who get quotes” save the amount stated. That’s the way companies can make those statements. That is why it is so important to quotes as often as possible. Because you cannot predict with any certainty which company will have the lowest rates for your situation.
How to lower your car insurance rates
An important part of buying insurance is that you know the factors that help calculate your car insurance rates. If you understand what impacts premium levels, this allows you to make educated decisions that could result in lower car insurance prices. Many things are part of the calculation when you get a price on insurance. Some of the criteria are obvious such as traffic violations, although others are more transparent like your continuous coverage or how safe your car is.
The list below includes some of the factors car insurance companies consider when setting rates.
- Adjust deductibles and save – Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your vehicle. Some coverage claims are a broken side mirror, hail damage, and windstorm damage. The deductibles you choose represent how much money you are willing to pay out-of-pocket before a claim is paid by your company. The larger the amount you have to pay, the bigger discount you will receive.
- Better rates on safer cars – Vehicles with high crash test scores tend to be cheaper to insure. Vehicles built for safety reduce the chance of injuries and reduced instances of injuries means less claims paid passed on to you as lower rates. If your vehicle is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may pay a lower rate.
- More mileage equals more premium – The more you drive in a year’s time the more you will pay for car insurance. The majority of insurers charge to insure your cars determined by how the vehicle is used. Cars used primarily for pleasure use can be on a lower rate level than cars that get driven a lot. It’s a good idea to make sure your vehicle rating states the correct usage.
- High credit scores save money – Having a bad credit history can be an important factor in calculating your premium rate. Drivers who have excellent credit scores tend to be more responsible as compared to drivers with lower ratings. If your credit can use some improvement, you could save money insuring your vehicle by improving your rating.
- Claim-free discounts can add up – Companies in North Carolina award the best rates to people who file claims infrequently. If you are the type of insured that files lots of claims you can expect higher rates. Your insurance policy is meant to be used in the event of claims that pose a financial burden.
- If you don’t need it don’t buy it – There are quite a few add-on coverages that sound like a good idea at the time if you aren’t careful. Coverages like rental car reimbursement, towing coverage, and extra equipment coverage may be costing you every month. They may seem like a good idea initially, but if you don’t need them eliminate them to save money.
Take advantage of every car insurance discount
Car insurance is expensive, but there’s a good chance there are discounts that could drop your premiums quite a bit. Many of these discounts will be applied automatically at the time you complete a quote, but some need to be asked about before you get the savings. If you aren’t receiving every discount you deserve, you’re paying more than you need to.
- Seat Belts Save more than Lives – Forcing all vehicle occupants to wear their seat belts can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
- Telematics Data – Policyholders that allow their insurance company to monitor driving habits by using a telematic data system such as Progressive’s Snapshot and State Farm’s In-Drive might see lower rates if they exhibit good driving behavior.
- Drivers Ed for Students – Require your teen driver to complete a driver education course if it’s offered in school.
- E-sign – A handful of larger companies give back up to $50 for buying your policy over the internet.
- Accident Forgiveness – but some insurance companies will let one accident slide before raising your premiums with the catch being you have to be claim-free for a set time period.
- Resident Student – who attend college more than 100 miles from home and do not have a car may be able to be covered for less.
A little disclaimer on discounts, most discounts do not apply to the entire cost. Most only cut individual premiums such as collision or personal injury protection. Just because you may think all the discounts add up to a free policy, it’s just not the way it works.
Some of the larger companies that may offer quotes with most of these discounts may include but are not limited to:
If you are trying to find , ask every prospective company the best way to save money. Some of the earlier mentioned discounts might not be offered on policies in your area. To see companies that provide some of the discounts listed above in North Carolina, click this link.
Leave no stone unturned
Budget-conscious car insurance can be sourced from both online companies and with local Newton insurance agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance companies may not have price quotes online and these regional carriers sell through independent agents.
When you , do not buy less coverage just to save a little money. There have been many cases where drivers have reduced liability coverage limits to discover at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to buy the best coverage you can find at the best price while still protecting your assets.
Even more information can be found at the North Carolina Department of Insurance website. North Carolina consumers can file complaints about a company, find out industry alerts, and download brochures.
The articles below may also help you learn more about car insurance in Newton