Expensive auto insurance can overdraw your savings account and make it hard to pay other bills. Shopping your coverage around is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket. There is such a variety of auto insurance companies to buy insurance from, and even though it’s nice to be able to choose, it can be more challenging to get the best deal.
It is always a good idea to get comparison quotes on a regular basis because rates trend upward over time. Just because you had the best price a few years ago the chances are good that you can find a lower rate today. There is a lot of bad advice regarding auto insurance on the web, but by reading this article, you’re going to learn some great ways to quit paying high auto insurance rates.
Pay less by taking advantage of discounts
The price of auto insurance can be rather high, but you may find discounts to help offset the cost. Certain discounts will be triggered automatically when you get a quote, but some may not be applied and must be specifically requested prior to receiving the credit. If you don’t get every credit you deserve, you are paying more than you should be.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and therefore earn up to a 10% discount.
- Good Students Pay Less – Getting good grades can save 20 to 25%. The good student discount can last up to age 25.
- Military Discounts – Being on active duty in the military could be rewarded with lower premiums.
- Payment Method – If you pay your entire premium ahead of time instead of paying each month you could save 5% or more.
- Early Switch Discount – Some companies give discounts for switching policies before your current policy expires. It’s a savings of about 10%.
- Low Mileage – Driving fewer miles can qualify you for lower rates on the low mileage vehicles.
Keep in mind that some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like comprehensive or collision. Even though it may seem like you would end up receiving a 100% discount, companies wouldn’t make money that way. Any qualifying discounts will help reduce your premiums.
For a list of insurers with discount auto insurance rates in Nevada, follow this link.
Your coverage should be tailored to you
When buying proper insurance coverage, there isn’t really a “perfect” insurance plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that Here are some questions about coverages that might help in determining if you might need an agent’s assistance.
- Which companies will insure high-risk drivers?
- Who is covered when they drive my vehicle?
- Do I need added coverage for expensive stereo equipment?
- Am I covered when driving a rental car?
- What if I don’t agree with a claim settlement offer?
- Should I rate my vehicle as pleasure use or commute?
- Can I drive in Mexico and have coverage?
- Do I need PIP coverage since I have good health insurance?
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and may give you better protection.
Do drivers who switch really save?
Nevada consumers constantly see and hear ads for car insurance savings from companies such as State Farm, Geico and Progressive. All the ads say the same thing of big savings if you move your policy.
How does each company make almost identical claims?
All the different companies have a preferred profile for the right customer that earns them a profit. For instance, a driver they prefer could be between the ages of 40 and 55, has no prior claims, and drives less than 10,000 miles a year. Any driver who matches those parameters receives the best rates and is almost guaranteed to save quite a bit of money when switching.
Drivers who don’t measure up to these standards will have to pay more money which leads to business not being written. The ads state “drivers who switch” not “people who quote” save that kind of money. That’s the way insurance companies can make those claims.
Because of the profiling, you need to compare as many rates as you can. It’s not possible to predict the company that will provide you with the cheapest rates.
More information can be found on the website for the Nevada Division of Insurance through this link. Nevada drivers can view a list of available companies, find a variety of consumer forms, and discover disciplinary actions.
Budget-conscious auto insurance can be purchased on the web and with local Boulder City insurance agents, so compare prices from both to have the best rate selection. Some companies do not offer the ability to get a quote online and many times these smaller companies only sell through independent insurance agents.
As you shop your coverage around, it’s not a good idea to buy poor coverage just to save money. In many instances, drivers have reduced uninsured motorist or liability limits only to find out they didn’t have enough coverage. Your strategy should be to find the BEST coverage for the lowest price while still protecting your assets.