Are you overwhelmed by the crazy number of auto insurance options in Lima? You have a lot of company. Consumers have so many options that it can quickly become a ton of work to find the best price.
You have some control over your rates
An important part of buying insurance is that you know some of the elements that go into determining the price you pay for auto insurance. When you know what positively or negatively controls the rates you pay empowers consumers to make smart changes that can help you get lower auto insurance prices.
Listed below are some of the items used by your company to calculate your rates.
- Where you live is a factor – Being located in less populated areas is a positive aspect when talking about auto insurance. Fewer drivers means reduced accidents as well as less vandalism and auto theft. Drivers who live in large Ohio cities have more traffic problems and longer commutes to work. More time commuting translates into higher accident risk.
- Adjust deductibles and save – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. A few examples of covered claims would be running into the backend of another car, collision with an animal, and rolling your vehicle. Deductibles for physical damage are the amount of money you are required to spend before your auto insurance pays a claim. The more you have to pay, the bigger discount you will receive.
- Having a spouse can save you money – Having a wife or husband can get you a discount on your policy. Having a significant other means you’re more mature and responsible it has been statistically shown that being married results in fewer claims.
- Rates may be lower depending on your job – Did you know that where you work can have an impact on rates? Jobs such as lawyers, social workers and accountants have higher rates than average because of high stress and long work days. On the flip side, professions such as pilots, athletes and homemakers get better rates.
Are you getting all your discounts?
The price of auto insurance can be rather high, but discounts can save money and there are some available that many people don’t even know exist. Certain discounts will be triggered automatically when you get a quote, but lesser-known reductions have to be inquired about prior to getting the savings.
- Distant Student – Youth drivers who are attending college and don’t have a car may be able to be covered for less.
- 55 and Retired – Older drivers can possibly qualify for a discount up to 10%.
- Drive Safe and Save – Drivers who avoid accidents can pay as much as 50% less than drivers with accident claims.
- Multiple Cars – Insuring all your vehicles on the same auto insurance policy may reduce the rate for each vehicle.
- Sign Early and Save – Some insurance companies reward drivers for buying a policy before your current policy expires. It can save you around 10%.
- Good Students Pay Less – Getting good grades can earn a discount of 20% or more. Earning this discount can benefit you well after school through age 25.
- Anti-lock Brakes – Anti-lock brake equipped vehicles can avoid accidents and qualify for as much as a 10% discount.
- Defensive Driving Course – Completing a defensive driving course could save 5% or more and easily recoup the cost of the course.
- Pay Upfront and Save – By paying your policy upfront instead of paying each month you could save up to 5%.
- Student Driver Training – Require your teen driver to take driver’s ed class if offered at their school.
Keep in mind that most discounts do not apply to all coverage premiums. Most only reduce individual premiums such as liability and collision coverage. Just because you may think all the discounts add up to a free policy, companies don’t profit that way. Any qualifying discounts will cut the amount you have to pay.
To choose insurance companies with discount auto insurance rates in Lima, follow this link.
Drivers who switch save $433 a year? Really?
Allstate and Progressive continually stream ads on television and other media. All the companies make an identical promise that you can save after switching your coverage to them. How can each company make almost identical claims? This is how they do it.
Different companies have a certain “appetite” for the type of driver they prefer to insure. A good example of a driver they prefer might be profiled as over the age of 50, owns a home, and has excellent credit. A propective insured that hits that “sweet spot” is entitled to the best price and most likely will save when switching.
Drivers who do not match this ideal profile will be charged a more expensive rate which usually ends up with the driver buying from a lower-cost company. The ads say “customers who switch” but not “drivers who get quotes” save that much money. That’s the way companies can advertise the savings.
That is why drivers should get a wide range of price quotes. It’s just too difficult to predict which auto insurance company will have the lowest rates.
More Ohio auto insurance resources
More information can be read on the Ohio Department of Insurance website located here. Ohio consumers can find out industry alerts, read industry bulletins, file complaints about a company, and download brochures.
The following information may also be useful.
Quote often and quote early
Cost effective auto insurance is possible from both online companies and with local Lima insurance agents, and you should be comparing both to get a complete price analysis. A few companies do not offer the ability to get a quote online and usually these regional insurance providers provide coverage only through local independent agents.
Drivers change insurance companies for a number of reasons such as lack of trust in their agent, denial of a claim, an unsatisfactory settlement offer or delays in paying claims. Regardless of your reason, switching auto insurance companies is not as difficult as it may seem.
Throughout this article, we presented some good ideas how you can shop for auto insurance online. The key concept to understand is the more quotes you get, the better chance you’ll have of finding lower rates. Consumers may even find the biggest savings come from the smaller companies.