Nobody looks forward to paying for car insurance, especially knowing their premiums are too high. Drivers have multiple auto insurance companies to buy insurance from, and although it’s a good thing to have a choice, it makes it harder to locate the cheapest rates.
You should make it a habit to compare rates occasionally because rates are rarely the same from one policy term to another. Just because you had the best rates two years ago a different company probably has better rates today. Starting right now, forget anything you know (or think you know) about car insurance because it’s time to teach you how to quote online to properly buy coverages and cut your premium.
How much can you save with discounts?
Companies that sell car insurance don’t necessarily list all available discounts very well, so we researched some of the best known and the more hidden savings tricks you should be using. If you don’t get every credit possible, you are paying more than you should be.
- Fewer Miles Equal More Savings – Low mileage vehicles could qualify for better rates on cars that stay parked.
- Pay Now and Pay Less – By paying your policy upfront instead of making monthly payments you could save 5% or more.
- Homeowners Discount – Simply owning a home may trigger a car insurance policy discount because of the fact that having a home shows financial diligence.
- Senior Discount – Mature drivers may be able to get reduced rates.
- Multi-car Discount – Buying coverage for more than one vehicle on the same car insurance policy may reduce the rate for each vehicle.
A little note about advertised discounts, most of the big mark downs will not be given to the entire policy premium. Most only cut the cost of specific coverages such as liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, car insurance companies aren’t that generous.
To see a list of insurance companies with discount car insurance rates in Mckinney, click here to view.
Smart Consumers Save More
An important part of buying insurance is that you know the different types of things that play a part in calculating your car insurance rates. When you know what positively or negatively influences your rates empowers consumers to make smart changes that could result in big savings.
- Pay less after the wedding – Having a spouse can actually save you money on car insurance. Having a spouse translates into being more mature than a single person and it’s statistically proven that married couples file fewer claims.
- Where you live – Being located in a rural area can be a good thing when insuring your vehicles. Less people living in that area means fewer accidents. Drivers who live in large Texas cities regularly have much more traffic to deal with and much longer commute distances. Higher commute times means more change of being in an accident.
- Liability coverage protects you – Liability insurance provides coverage if ever a court rules you are at fault for damages caused by your negligence. It will provide legal defense which can be incredibly expensive. This coverage is very inexpensive compared to physical damage coverage, so do not skimp.
- Optional equipment can affect rates – Driving a car that has an advanced theft prevention system can save you a little every year. Theft prevention devices like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your vehicle from being stolen.
- No coverage gaps is important – Allowing your car insurance policy to lapse is a guaranteed way to trigger a rate increase. Not only will rates go up, but not being able to provide proof of insurance may earn you a hefty fine and possibly a revoked license.You may then be required to file a SR-22 with the Texas motor vehicle department.
- Multiple policies with one company can save – Some companies give discounts to customers who carry more than one policy in the form of a multi-policy discount. Even with this discount, it’s still a good idea to compare other company rates to verify if the discount is saving money.
How much car insurance do I need?
When it comes to choosing the right insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Each situation is unique so this has to be addressed. For example, these questions could help you determine whether your personal situation could use an agent’s help.
- Do I need higher deductibles?
- Will I lose any money if I cancel my policy before it expires?
- When should I drop full coverage on my vehicle?
- Does my policy cover my teen driver if they drive my company car?
- Why am I required to buy high-risk coverage?
- Am I covered when using my vehicle for business?
- Should I file a claim if it’s only slightly more than my deductible?
- When do I need to add a new car to my policy?
- What are the best liability limits?
- What are Texas no-fault laws?
If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier It is quick, free and can provide invaluable advice.
More resources for learning
More tips and info about car insurance is available at the Texas Department of Insurance website. Consumers can download brochures, learn about insurance regulations, report car insurance fraud, and find out which companies have the most complaints.
More related Mckinney car insurance information:
Compare but don’t skimp
As you shop your coverage around, it’s very important that you do not skimp on coverage in order to save money. There are too many instances where someone sacrificed physical damage coverage and found out when filing a claim they didn’t have enough coverage. Your aim should be to find the BEST coverage for the lowest price, not the least amount of coverage.
Cost effective car insurance can be purchased from both online companies as well as from independent agents in Mckinney, and you should be comparing both to have the best chance of lowering rates. Some car insurance companies don’t offer online price quotes and usually these smaller companies provide coverage only through local independent agents.