I can’t think of a single person who rejoices having to buy car insurance, especially when they are paying too much. Companies like State Farm, Geico and Farmers Insurance all promote huge savings with catchy ads and it is difficult to see through the cute green geckos and mayhem and do the work needed to find the best deal.
These discounts can reduce car insurance rates
Companies don’t necessarily list every possible discount in a way that’s easy to find, so the list below gives a summary of both well-publicized and also the more inconspicuous discounts you could be receiving when you .
- Onboard Data Collection – People who choose to allow their company to track driving patterns by installing a telematics device such as Allstate’s Drivewise and State Farm’s In-Drive system might get better premium rates as long as the data is positive.
- Homeowners Savings – Just being a homeowner can get you a discount since owning and maintaining a home shows financial diligence.
- Accident Waiver – Not really a discount, but some insurance companies will turn a blind eye to one accident without the usual rate increase if you have no claims prior to being involved in the accident.
- Active Military Service – Having an actively deployed family member could qualify you for better premium rates.
- Drive Safe and Save – Insureds who avoid accidents can save up to 40% or more on their compared to accident prone drivers.
- More Vehicles More Savings – Buying insurance for several vehicles with the same car insurance company can reduce rates for all insured vehicles.
- Theft Prevention System – Cars and trucks with anti-theft systems are less likely to be stolen and earn discounts up to 10% off your .
As a sidenote, most discounts do not apply to the overall cost of the policy. Most cut individual premiums such as medical payments or collision. Despite the appearance that you would end up receiving a 100% discount, it’s just not the way it works.
The best car insurance companies and a selection of discounts are shown below.
- Progressive offers premium reductions for multi-policy, multi-vehicle, homeowner, continuous coverage, online quote discount, and good student.
- The Hartford has savings for vehicle fuel type, air bag, anti-theft, good student, bundle, and driver training.
- Mercury Insurance policyholders can earn discounts including good driver, multi-policy, professional/association, multi-car, and type of vehicle.
- Geico discounts include defensive driver, military active duty, membership and employees, air bags, and daytime running lights.
- AAA may offer discounts for multi-car, good student, multi-policy, education and occupation, pay-in-full, and good driver.
- State Farm offers discounts including good driver, multiple policy, passive restraint, Steer Clear safe driver discount, driver’s education, and accident-free.
When quoting, ask every insurance company which discounts you may be entitled to. Some discounts may not apply to policies in Camden. If you would like to choose from a list of car insurance companies that provide some of the discounts listed above in Maine, click here.
Learn how to get car insurance cheaper
The best way to find cheaper car insurance is to take a look at the different types of things that play a part in calculating the level of your policy premiums. If you know what positively or negatively impacts your premiums, this enables informed choices that can help you get lower premium levels. Multiple criteria are taken into consideration when quoting car insurance. Some are pretty understandable like your driving record, but other factors are not quite as obvious like your continuous coverage or your vehicle rating.
The factors shown below are some of the major factors car insurance companies consider when setting rates.
- Drivers with good credit save – Your credit score factor in determining what you pay. If your credit score is lower than you’d like, you could potentially save money when insuring your vehicle by spending a little time repairing your credit. Insureds that have very high credit ratings tend to file fewer claims and have better driving records than drivers with worse credit.
- Discounts for married drivers – Walking down the aisle may cut your premiums on car insurance. Having a spouse usually means you are more financially stable and it’s proven that drivers who are married file infrequent claims.
- Performance influences insurance rates – The performance level of the vehicle you need insurance for makes a substantial difference in your car insurance bill. Lower cost passenger cars usually have the lowest rates, but your final cost has many other factors.
- Never let your coverage lapse – Allowing your car insurance policy to lapse can be a fast way to increase your rates. And not only will your rates increase, not being able to provide proof of insurance may result in a license revocation or jail time. You will then be forced to prove you have insurance by filing a SR-22 with the Maine department of motor vehicles.
- Good drivers pay less – Your driving citation history has a lot to do with how much you pay for insurance. Only having one speeding ticket can bump up the cost by as much as thirty percent. Good drivers pay lower auto insurance prices compared to bad drivers. Drivers with serious citations such as DUI or reckless driving are required to file a SR-22 with the DMV in their state in order to prevent their license from being revoked.
- Drive less and get lower costs – The more you drive your car in a year the more you’ll pay to insure your vehicle. Many insurance companies charge to insure your cars based on how the vehicle is used. Cars and trucks left parked in the garage cost less to insure than cars that get driven a lot. It’s a smart idea to ensure your car insurance coverage is rated on the correct driver usage.
When do I need an agent’s advice?
When it comes to buying adequate coverage for your vehicles, there is no cookie cutter policy. Everyone’s needs are different and a cookie cutter policy won’t apply. These are some specific questions can aid in determining if your insurance needs would benefit from professional advice.
- Am I covered when pulling a rental trailer?
- Is a new car covered when I drive it off the dealer lot?
- Is my business laptop covered if it gets stolen from my vehicle?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Do I have coverage when using my vehicle for my home business?
- Should I put collision coverage on all my vehicles?
- Who is covered when they drive my vehicle?
If you don’t know the answers to these questions, you may need to chat with a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier It is quick, free and you can get the answers you need.
Save $475 a year. For real?
Maine consumers can’t ignore all the ads that claim the lowest prices by Progressive, Allstate and Geico. They all seem to tend to make the same promise that drivers will save a bundle just by switching your coverage.
How is it possible that every company can charge less that you’re paying now? This is the trick they use.
All the different companies have specific characteristics for the type of driver that earns them the most money. An example of a desirable insured should be between 30 and 50, owns a home, and insures a new vehicle. Any driver who matches that profile receives the best premium rates and will save when they switch companies.
Potential customers who do not match the requirements will get higher rates and this results in the customer buying from someone else. The wording the ads use say “people who switch” not “everybody who quotes” save money. This is how insurance companies can confidently advertise the way they do. This really illustrates why you absolutely need to compare often. Because without a comparison, you cannot know the company that will give you the biggest savings.
More tips and info about car insurance is available at the Maine Bureau of Insurance website. Maine consumers can read industry bulletins, file complaints about a company, and view agent and company licensing information.
The following information may also be useful.
Smart consumers save more
Some insurance companies don’t offer rates over the internet and many times these smaller providers prefer to sell through independent agents. Low-cost car insurance is possible online and also from your neighborhood Camden agents, and you need to price shop both so you have a total pricing picture.
As you prepare to switch companies, don’t be tempted to buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured dropped uninsured motorist or liability limits only to find out that it was a big mistake. Your goal should be to buy the best coverage you can find at a price you can afford but still have enough coverage for asset protection.
In this article, we covered some good ideas how you can save on car insurance. The key thing to remember is the more providers you compare, the better your chances of lowering your prices. You may even discover the best premium rates are with the smaller companies. Some small companies may cover specific market segments cheaper than their larger competitors like Geico and State Farm.