If you’re looking for lower-cost insurance online, are you baffled by the crazy number of car insurance sources available to you? Lot’s of other drivers are too. You have such a vast assortment of sources available that it can turn into a ton of work to find the best prices. Elgin is the perfect city to reside in, but trying to pay high car insurance rates can make it hard for many drivers to afford.
Discounts can really help lower premiums
Companies don’t always list every disount available in a way that’s easy to find, so we researched a few of the more common and also the lesser-known credits that may apply to you. If you don’t get every credit possible, you’re paying more than you need to.
- Good Grades Discount – Getting good grades can earn a discount of 20% or more. Many companies even apply the discount to college students well after school through age 25.
- Accident-Free Discounts – Elgin drivers who stay claim-free pay much less in comparison with drivers with a long claim history.
- Multi-policy Discount – If you can bundle your home and auto insurance with one company you could save at least 10 to 15 percent or more.
- Passive Restraints – Options like air bags or motorized seat belts could see savings as much as 30%.
- Seat Belts Save – Drivers who always wear seat belts and also require passengers to wear their seat belts may be able to save a few bucks on medical payment and PIP coverage.
- Full Payment Discount – If paying your policy premium upfront rather than paying monthly you could save up to 5%.
- Paper-free Discount – A handful of car insurance companies will give a small break for buying a policy and signing up on their website.
- Distant Student – Kids who are enrolled in a college that is more than 100 miles from home and don’t have a car may be insured at a cheaper rate.
- Discount for New Cars – Buying a new car model can save up to 30% because newer models keep occupants safer.
Remember that most discount credits are not given to the entire policy premium. Most only cut specific coverage prices like liability, collision or medical payments. Despite the appearance that adding up those discounts means a free policy, insurance companies wouldn’t stay in business.
Popular car insurance companies and some of the discounts include:
- State Farm may include discounts for good student, Drive Safe & Save, passive restraint, driver’s education, anti-theft, and student away at school.
- American Family may offer discounts for mySafetyValet, good student, good driver, accident-free, and Steer into Savings.
- Geico has savings for military active duty, defensive driver, multi-policy, good student, and anti-lock brakes.
- 21st Century discounts include good student, anti-lock brakes, theft prevention, defensive driver, driver training, early bird, and teen driver.
- Progressive may have discounts that include multi-vehicle, homeowner, online signing, continuous coverage, online quote discount, good student, and multi-policy.
When getting a coverage quote, ask all the companies what discounts are available to you. Some of the discounts discussed earlier might not be offered in Elgin. If you would like to see a list of providers that have a full spectrum of discounts in North Dakota, click this link.
Cut Your Costs with these tips
Lots of factors are used when you get a price on insurance. A few of the factors are predictable like an MVR report, although some other factors are more transparent such as your marital status or how financially stable you are. When buying car insurance it’s important to understand the factors that help determine your car insurance rates. If you understand what controls the rates you pay, this allows you to make educated decisions that may result in much lower annual insurance costs.<img class="alignright" style="padding-top:15px;" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-7.jpg" alt="Elgin car insurance prices“/>
The items below are a few of the things used by companies to determine your prices.
- Vehicle options can affect rates – Owning a car with anti-theft technology or alarm system can help lower your premiums. Theft prevention devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent car theft.
- Decrease premiums by maintaining coverage – Driving without insurance coverage in place is a big no-no and any future policy may cost more because you let your insurance coverage expire. Not only will you pay higher rates, the inability to provide proof of insurance could result in a hefty fine and possibly a revoked license.
- Put fewer miles on your vehicle – The higher the miles on your car in a year’s time the more you will pay for car insurance. A lot of insurance companies rate vehicles based upon how you use the vehicle. Autos used primarily for pleasure use receive lower rates than those used for commuting. Double check that your car insurance declarations sheet states how each vehicle is driven.
- Having a spouse pays dividends – Getting married may save some money on your policy. Having a spouse translates into being more financially stable and insurance companies reward insureds because married drivers tend to file fewer claims.
- Safer occupants lowers prices – Safe vehicles are cheaper to insure. These vehicles reduce occupant injuries and lower injury rates translates directly to fewer claims which can result in lower premiums. If your car or truck is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may cost less to insure.
- Liability coverage – Your car insurance policy’s liability coverage will afford coverage when you are found to be at fault for an accident. Your policy’s liability insurance provides you with a defense in court starting from day one. It is affordable coverage compared to other policy coverages, so drivers should buy more than the minimum limits required by law.
- Your career may increase prices – Jobs such as lawyers, social workers and dentists generally have higher premiums than the average policyholder attributed to intense work-related stress and extremely grueling work hours. Conversely, careers such as professors, engineers and performers have lower than average premiums.
Is there truth in advertising?
Respected companies like Allstate and Progressive regularly use television and radio advertisements. All the companies have a common claim that drivers can save some big amount if you get a free and switch your coverage. How does each company charge less that you’re paying now? It’s all in how they say it.
Most companies have a preferred profile for the type of customer that earns them a profit. One example of a driver they prefer might be described as a mature driver, has no driving citations, and drives less than 5,000 miles a year. Anyone that meets those criteria receive the lowest rate quotes and most likely will pay quite a bit less when switching companies.
Consumers who do not match these stringent criteria must pay a higher premium which results in business going elsewhere. If you pay close attention to the ads, they say “people who switch” not “all people who quote” will save that much if they switch. That’s why insurance companies can advertise the savings. This really drives home the point why you should compare rate quotes every year. It is impossible to predict with any certainty which company will fit your personal profile best.
Additional resources for North Dakota consumers
More tips and info about car insurance can be found at the North Dakota Insurance Department website. Consumers can read industry bulletins, download brochures, read state legal mandates and laws, and discover disciplinary actions.
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More effort can pay off
Cheaper car insurance is possible on the web and from local agencies, so you need to with both to have the best selection. There are still a few companies who may not provide online rate quotes and most of the time these regional insurance providers only sell coverage through independent insurance agents.
While you’re price shopping online, you should never buy poor coverage just to save money. In many cases, consumers will sacrifice physical damage coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. The goal is to get the best coverage possible at an affordable rate and still be able to protect your assets.
Drivers change insurance companies for a number of reasons such as extreme rates for teen drivers, unfair underwriting practices, policy non-renewal or even high rates after DUI convictions. It doesn’t matter what your reason, choosing a new insurance company can be pretty painless.