Have you fallen victim to an overpriced auto insurance policy? Believe me, many Lynchburg consumers feel financially strained by their auto insurance policy.
Because there are so many companies and agents to choose from, it is hard for the average consumer to choose the best insurer.
You should take the time to compare rates before your policy renews since insurance rates trend upward over time. Despite the fact that you may have had the best rates a few years ago you can probably find a lower rate today. So ignore everything you know about auto insurance because you’re going to learn one of the best ways to reduce your cost while increasing coverage.
Finding affordable coverage in Lynchburg is easy if you know what you’re doing. If you currently have a car insurance policy, you will most likely be able to reduce your rates substantially using these methods. But Virginia car owners must know how companies sell insurance online and apply this information to your search.
Why you might pay higher rates in Lynchburg
Smart consumers have a good feel for the rating factors that come into play when calculating the price you pay for auto insurance. Having a good understanding of what influences your rates allows you to make educated decisions that may reward you with much lower annual insurance costs.
The list below includes a few of the “ingredients” companies use to determine rates.
- Better credit scores mean better rates – Credit score is a large factor in calculating your auto insurance rates. If your credit score is lower than you’d like, you could save money insuring your by spending a little time repairing your credit. People with excellent credit tend to be more responsible than drivers with poor credit.
- Your location is important – Being located in a small town can be a good thing when insuring your vehicles. Drivers in populated areas have much more traffic and longer commute times. Fewer people means reduced accidents and a lower car theft rate.
- Do you qualify for a multi-policy discount? – Many companies will award you with lower prices to people who carry more than one policy in the form of a multi-policy discount. Even though this discount sounds good, it’s in your best interest to comparison shop to confirm you are receiving the best rates possible. You may still find a better deal by buying insurance from more than one company.
- Proper usage rating affects rates – Driving more miles every year the higher your rates will be. Most insurance companies charge to insure your cars determined by how the vehicle is used. Vehicles not used for work or commuting qualify for better rates than those used for commuting. Ask your agent if your auto insurance coverage is rated on the proper vehicle usage.
- How your age affects price – Mature drivers are more responsible, tend to file fewer claims and are safer drivers. Teen drivers are known to be careless and easily distracted in a vehicle therefore auto insurance rates are much higher.
Don’t overlook these discounts
Auto insurance companies don’t always advertise every available discount very clearly, so here is a list some of the more common and the harder-to-find auto insurance savings.
- No Charge for an Accident – Certain companies will forgive one accident before your rates go up if your claims history is clear for a particular time prior to the accident.
- Memberships – Being a member of a qualifying organization may earn a discount on auto insurance.
- Own a Home – Owning a house in Lynchburg may trigger a auto insurance policy discount due to the fact that maintaining a home demonstrates responsibility.
- Safe Drivers – Drivers who avoid accidents can get discounts for up to 45% lower rates than drivers with accident claims.
- Multiple Cars – Having all your vehicles on one policy qualifies for this discount.
Consumers should know that some of the credits will not apply to the entire cost. A few only apply to the price of certain insurance coverages like comp or med pay. Even though it may seem like it’s possible to get free car insurance, companies don’t profit that way.
To choose insurance companies with discount auto insurance rates in Lynchburg, click here to view.
Quote online but still have a local agent
A small number of people would prefer to talk to a local agent and that is OK! The best thing about price shopping on the web is you may find the lowest rates and still choose a local agent.
By using this form (opens in new window), your insurance data is immediately sent to local insurance agents in Lynchburg who will return price quotes for your insurance coverage. You won’t need to leave your computer because quoted prices will be sent to your email. It doesn’t get any easier! You’ll get the best rates AND a local agent.
Picking a company should depend on more than just the bottom line cost. Any agent should have no problem answering these questions:
- Does the agency have a good rating with the Better Business Bureau?
- Will your rates increase after a single accident?
- Do they assist clients in filing claims?
- Does the company allow you to choose your own collision repair facility?
- If your car is in the repair shop, do you have coverage for a rental car?
Captive or Independent: There is a difference
When researching local Lynchburg agents, you must know there are a couple types of insurance agents from which to choose. Agencies in Lynchburg are either independent (non-captive) or captive.
Captive Agents
Captive insurance agents have only one company to place business with and some examples include State Farm or Allstate. They usually cannot compare other company’s rates so they have no alternatives for high prices. Captives are very knowledgeable on their products and sales techniques which helps them compete with independent agents.
Listed below is a list of captive agents in Lynchburg who may provide you with price quote information.
Liberty Mutual Insurance – 7803 Timberlake Rd – Lynchburg, VA 24502 – (434) 237-1658
Allstate Insurance – 20722 Timberlake Rd # 8 – Lynchburg, VA 24502 – (434) 237-6699
State Farm Insurance – 1119 Oakley Ave # 1 – Lynchburg, VA 24501 – (434) 528-1234
Independent Agents
Independent insurance agents do not work for one specific company but rather can write business with lots of companies depending on which coverage is best. To move your coverage to a new company, your agent can switch companies and you won’t have to switch agencies.
When comparing rates, it’s a good idea to include price quotes from multiple independent agents to ensure the widest selection of prices.
Listed below are independent agencies in Lynchburg willing to provide comparison quotes.
Robinson Agency – 3831 Old Forest Rd – Lynchburg, VA 24501 – (434) 385-0071
Title Agency Of Virginia Inc – 20580 Timberlake Rd – Lynchburg, VA 24502 – (434) 237-5928
Nationwide Insurance – 800 Graves Mill Rd – Lynchburg, VA 24502 – (434) 237-7200
Andy Mathews Insurance Svc – 508 Leesville Rd # A – Lynchburg, VA 24502 – (434) 832-0400
For a full directory of auto insurance agents in Lynchburg, please click here.
After getting reasonable responses to these questions and locked in a price quote, chances are good that you have found a car insurance agent that will service your policy.
Don’t listen to company ads
Auto insurance providers like Progressive, Allstate and Geico consistently run ads in print and on television. They all have a common claim of big savings if you change your policy. But how can every company say the same thing?
Different companies have a certain “appetite” for the right customer that is profitable for them. An example of a profitable customer could be a mature driver, insures multiple vehicles, and has great credit. A driver who matches those parameters will get very good rates and most likely will save when switching.
Consumers who don’t qualify for the requirements will have to pay higher rates which leads to the driver buying from a lower-cost company. The ad wording is “people who switch” but not “drivers who get quotes” save money. That is how insurance companies can make the claims of big savings. Because of the profiling, it’s extremely important to get as many quotes as possible. Because you never know which company will fit your personal profile best.
Even more information is located at the Virginia Bureau of Insurance website. Consumers can view agent and company licensing information, read state legal mandates and laws, get help finding coverage, and file complaints about an insurance agent or broker.
Buy online or local, you save
Budget-conscious auto insurance can be purchased both online and with local Lynchburg insurance agents, and you need to price shop both so you have a total pricing picture. Some insurance providers do not offer online quoting and these small, regional companies work with independent agents.
When you buy insurance online, it’s a bad idea to reduce needed coverages to save money. There are too many instances where an insured cut full coverage to discover at claim time they didn’t purchase enough coverage. Your strategy should be to get the best coverage possible at a price you can afford.