Having to pay for overpriced car insurance can drain your savings account, especially in this economy. Comparison shopping is free, only takes a few minutes, and is a good way to cut your insurance bill. Consumers have many car insurance companies to insure vehicles with, and although it’s a good thing to have multiple companies, it can be more challenging to find the best rates.
Smart consumers take time to do rate comparisons yearly because insurance rates change frequently. Just because you had the lowest price a year ago you can probably find a better price now. There is a lot of wrong information about car insurance online but by reading this article, you’re going to learn the easiest ways to reduce your car insurance bill.
Locating cheaper car insurance coverage in Homer is easy if you know what you’re doing. If you have a policy now or are looking for a new policy, you can use this information to find the best rates while maintaining coverages. Alaska vehicle owners just need to know how to get comparison quotes on the web.
Smart Consumers Save More
It’s important that you understand the factors that come into play when calculating car insurance rates. When you know what positively or negatively controls the rates you pay empowers consumers to make smart changes that can help you get big savings.
- Better crash test results mean better rates – Vehicles with good safety scores tend to have better insurance rates. Safer cars have better occupant injury protection and better occupant protection translates into fewer and smaller insurance claims passed on to you as lower rates.
- What are your deductibles? – Physical damage deductibles represent how much money you are required to spend out-of-pocket if you file a covered claim. Physical damage insurance, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Some examples of claims that would be covered could be colliding with a building, vandalism, and burglary. The more the insured has to pay upfront, the bigger discount you will receive.
- Pay less after the wedding – Having a spouse can get you a discount on car insurance. Marriage usually means you are more mature and responsible and statistics show married couples file fewer claims.
- Extra add-on coverages are wasting money – There are many add-on coverages you can purchase on your policy. Things like vanishing deductibles, better glass coverage and motor club memberships are examples of these. They may seem like a good idea when you first buy your policy, but if you don’t need them remove them from your policy.
- High numbers of claims are not good – Car insurance companies in Alaska award better rates to policyholders who do not rely on their insurance for small claims. If you tend to file frequent claims, you can expect higher rates. Auto insurance is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
Compare the Market for Car Insurance in Homer, Alaska
Most companies provide pricing directly from their websites. Getting online quotes is quite easy as you simply enter the coverage amounts you desire as requested by the quote form. When the form is submitted, their rating system collects your driving and credit reports and generates a price based on many factors. Quoting online makes comparing rates easy, but the work required to visit a lot of sites and enter the same data into a form can be a bit repetitive. But it is imperative to have as many quotes as possible in order to get the lowest price.
Compare rates the easy way
The quickest way to compare rates requires only one form to return rates from several different companies. The form is fast, requires much less work on your part, and makes online quotes much more enjoyable. As soon as the form is sent, it gets priced and you are able to buy your choice of the price quotes you receive.
If a lower price is quoted, you can simply submit the application and purchase coverage. The whole process just takes a couple of minutes and may save quite a bit of money.
To compare rates using this form now, click here and submit the form. If you have a policy now, it’s recommended you copy your coverages as close as possible to your current policy. This ensures you will have a fair comparison based on the exact same insurance coverage.
The fine print in car insurance ads
Alaska drivers get pounded daily by advertisements for cheaper car insurance by companies like GEICO, State Farm and Progressive. All the companies have a common claim of big savings if you switch to them.
But how can every company say the same thing? This is how they do it.
All the different companies have a certain “appetite” for the driver that makes them money. An example of a driver they prefer could possibly be between 30 and 50, has no tickets, and drives newer vehicles. A customer getting a price quote that hits that “sweet spot” will qualify for the lowest rates and is almost guaranteed to pay quite a bit less when switching companies.
Consumers who fall outside this ideal profile will be charged higher prices and this can result in business not being written. The ad wording is “customers who switch” not “everybody who quotes” save that much money. That is how companies can make the claims of big savings.
That is why you should compare many company’s rates. It’s just too difficult to predict which car insurance company will have the lowest rates.
Policy discounts you shouldn’t miss
Car insurance is not cheap, but you may find discounts that many people don’t even know exist. Larger premium reductions will be automatically applied when you get a quote, but some may not be applied and must be manually applied before they will apply. If they aren’t giving you every credit possible, you are paying more than you should be.
- New Vehicle Savings – Insuring a new car can save up to 30% because new vehicles have to meet stringent safety requirements.
- Homeowners Pay Less – Owning a house in Homer may trigger a car insurance policy discount because of the fact that having a home is proof that your finances are in order.
- E-sign – A few companies give back up to $50 for buying your policy online.
- Early Signing – Some insurance companies reward drivers for buying a policy prior to your current policy expiring. This can save 10% or more.
- Bundle and Save – When you have multiple policies with the same insurance company you will save up to 20% off your total premium.
- College Student – Children living away from home attending college without a vehicle on campus can receive lower rates.
- Government Employees – Active or retired federal employment can earn a discount up to 10% with a few car insurance companies.
- Military Discounts – Being deployed with a military unit can result in better rates.
- Senior Discount – Mature drivers may qualify for a discount up to 10%.
- Club Memberships – Participating in a civic or occupational organization could qualify you for a break on car insurance.
It’s important to note that most discounts do not apply to the entire policy premium. Most only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates having all the discounts means you get insurance for free, you’re out of luck. But all discounts will help reduce your overall premium however.
For a list of companies with the best car insurance discounts in Alaska, click this link.
Insurance agents can help
When it comes to choosing the best car insurance coverage for your vehicles, there really is not a one size fits all plan. Everyone’s situation is unique and a cookie cutter policy won’t apply. These are some specific questions can aid in determining whether your personal situation will benefit from professional help.
- Do I pay less if my vehicle is kept in my garage?
- Does my medical payments coverage pay my health insurance deductible?
- Why am I required to buy high-risk coverage?
- Exactly who is provided coverage by my policy?
- Are my friends covered when driving my vehicle?
- What if I total my vehicle and owe more than it’s worth?
- Do I have coverage when using my vehicle for my home business?
- When should I remove comp and collision on my vehicle?
If you don’t know the answers to these questions but you know they apply to you, you may need to chat with a licensed agent. To find an agent in your area, simply complete this short form or you can also visit this page to select a carrier It only takes a few minutes and can provide invaluable advice.
More information can be read on the website for the Alaska Division of Insurance located here. Visitors are able to file complaints about an insurance agent or broker, find out which companies have the most complaints, get help finding coverage, and read consumer alerts.
Smart shoppers get results
The cheapest car insurance can be purchased both online as well as from independent agents in Homer, so you should be comparing quotes from both in order to have the best chance of saving money. Some insurance providers don’t offer online price quotes and usually these smaller companies provide coverage only through local independent agents.
As you shop your coverage around, you should never reduce needed coverages to save money. There have been many cases where drivers have reduced full coverage and found out when filing a claim that the few dollars in savings costed them thousands. The proper strategy is to purchase a proper amount of coverage at an affordable rate.