Confused by the sheer number of car insurance choices in Faribault? Many other drivers are as well. Drivers have so many companies to choose from that it can easily become a challenge to compare prices.
Consumers need to do rate comparisons once or twice a year because insurance rates change frequently. Just because you found the lowest rates last year you will most likely find a better rate today. So just block out anything you think you know about car insurance because you’re going to learn how to quote online to save on car insurance.
What impacts Faribault insurance rates?
An important part of buying insurance is that you know some of the elements that go into determining the price you pay for car insurance. Knowing what controls the rates you pay helps enable you to make changes that could result in lower car insurance prices.
- Cautious drivers pay less – A bad driving record has a lot to do with how much you pay for insurance. Even one ticket may increase your cost forty percent or more. Drivers with clean records have lower premiums compared to drivers with tickets. If you have flagrant violations such as hit and run, DWI or reckless driving convictions may find they need to file a SR-22 with their state DMV in order to keep their license.
- Is your vehicle built for speed? – The performance level of the car you are buying insurance for makes a significant difference in your rates. Lower performance four cylinder passenger models generally have the cheapest insurance rates, but the cost you end up paying is determined by many additional factors.
- Men fork out a little more – Statistics have proven that men are more aggressive behind the wheel. Now that doesn’t mean women are better drivers. Women and men have accidents in similar numbers, but the men tend to have more serious accidents. Men also statistically receive more costly citations like reckless driving and DUI.
- More people means more accidents – Choosing to live in less populated areas can be a good thing when insuring your vehicles. Drivers who live in large cities have much more traffic and longer commute times. Less people living in that area means fewer accidents.
- One company can mean more discounts – The majority of companies give discounts to people who carry more than one policy. It’s known as a multi-policy discount. This can amount to anywhere from five to ten percent in most cases. Even with this discount, you still need to shop around to ensure the best deal.
You probably qualify for some discounts
Insuring your vehicles can cost a lot, but you may find discounts that many people don’t even know exist. A few discounts will automatically apply at quote time, but less common discounts must be requested specifically prior to getting the savings. If they aren’t giving you every credit possible, you’re paying more than you need to.
- Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less than drivers with accident claims.
- New Car Discount – Insuring a new car can save up to 30% because new vehicles have to meet stringent safety requirements.
- Drivers Education – Cut your cost by having your teen driver enroll in driver’s education in school.
- Accident Forgiveness – Certain companies will allow you to have one accident before hitting you with a surcharge so long as you haven’t had any claims for a set time period.
- Passive Restraint Discount – Factory air bags and/or automatic seat belt systems can qualify for discounts of more than 20%.
Keep in mind that many deductions do not apply to the entire cost. Some only reduce individual premiums such as medical payments or collision. Just because you may think you could get a free car insurance policy, it just doesn’t work that way. But all discounts will help reduce the cost of coverage.
Additional reading for car insurance information
Much more information about car insurance in Minnesota is available on the Minnesota Department of Commerce website located here. Consumers can find a variety of consumer forms, discover disciplinary actions, view a list of available companies, and find out industry alerts.
A tidy conclusion
Insureds change insurance companies for a number of reasons such as lack of trust in their agent, policy cancellation, an unsatisfactory settlement offer and even high rates after DUI convictions. Regardless of your reason, choosing a new company is not as hard as you think.
While you’re price shopping online, you should never buy poor coverage just to save money. There are a lot of situations where an accident victim reduced full coverage to discover at claim time that it was a big error on their part. Your goal should be to buy the best coverage you can find for the lowest price while not skimping on critical coverages.
Low-cost car insurance is available online and also from your neighborhood Faribault agents, and you need to price shop both to have the best chance of lowering rates. Some insurance providers may not provide the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.