Overpriced auto insurance can empty your personal savings and put the squeeze on your family’s finances. Comparing price quotes is free and is an excellent way to tighten up your finances.
Big-name insurance companies like GEICO and Progressive increase brand awareness with advertising and consumers find it hard to ignore the propoganda and find the best price available.
If you currently have car insurance, you will be able to cut costs considerably using this information. Choosing the best insurance company for you in Franklin is not rocket science. Nevertheless, Wisconsin car owners need to have an understanding of how big insurance companies price insurance differently and take advantage of how the system works.
Save money by taking advantage of these discounts
Companies do not list all available discounts in a way that’s easy to find, so the following is a list of both the well known and the harder-to-find auto insurance savings.
- Discount for Good Grades – A discount for being a good student can save 20 to 25%. This discount can apply up until you turn 25.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to take driver’s ed class in school.
- Theft Prevention System – Anti-theft and alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
- Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.
- Senior Citizens – Mature drivers may receive a small decrease in premiums.
- Passive Restraints and Air Bags – Vehicles with factory air bags or motorized seat belts may earn rate discounts up to 30%.
- No Charge for an Accident – A few companies will allow you to have one accident before hitting you with a surcharge so long as you haven’t had any claims prior to the accident.
It’s important to understand that some of the credits will not apply to the entire cost. Some only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Just because you may think all those discounts means the company will pay you, you won’t be that lucky.
To choose insurers who offer auto insurance discounts in Wisconsin, click here.
When should I use an insurance agent?
When it comes to choosing coverage for your personal vehicles, there is no cookie cutter policy. Every situation is different and a cookie cutter policy won’t apply. For example, these questions can help discover whether your personal situation may require specific advice.
- Is business property covered if stolen from my car?
- Do I need special endorsements for business use of my vehicle?
- Is my business laptop covered if it gets stolen from my vehicle?
- What are Wisconsin no-fault laws?
- What is the difference between comprehensive and collision coverage?
- Does liability extend to a camper or trailer?
- Are all vehicle passengers covered by medical payments coverage?
- What should my uninsured motorist coverage limits be in Wisconsin?
- Is my vehicle covered for smoke damage?
- Does my policy cover me when driving someone else’s vehicle?
If you can’t answer these questions but a few of them apply, you may need to chat with an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.
Do drivers who switch really save $398 a year?
Companies like 21st Century, Allstate and State Farm consistently run ads in print and on television. All the ads make the same claim that you can save if you change your coverage to them. How can each company say the same thing?
Different companies have a certain “appetite” for the driver that is profitable for them. For example, a driver they prefer might be profiled as over the age of 40, has no driving citations, and has great credit. Any driver who matches those parameters is entitled to the best price and most likely will save quite a bit of money when switching.
Drivers who don’t meet the requirements must pay a more expensive rate and ends up with the customer not buying. Company advertisements say “people who switch” not “everyone that quotes” save money. That’s the way insurance companies can confidently claim big savings. This illustrates why it is so important to get quotes from several different companies. It’s not possible to predict which company will fit your personal profile best.
More consumer information in Wisconsin
More tips and info about auto insurance can be read at the Wisconsin Office of the Commissioner of Insurance website. Wisconsin drivers can download brochures, discover disciplinary actions, and view agent and company licensing information.
These articles may also be worth reading.
- Learn How to Lower Your Premiums for Franklin Auto Insurance
- Expert Methods to Paying Less for Franklin Car Insurance
One last thing
You just read some good ideas how to lower your auto insurance rates. It’s most important to understand that the more rate quotes you have, the better your comparison will be. You may even find the best price on auto insurance is with a company that doesn’t do a lot of advertising. Some small companies may often insure only within specific states and give getter rates than the large multi-state companies such as State Farm and Allstate.
Affordable auto insurance can be purchased both online and with local Franklin insurance agents, and you need to price shop both to have the best rate selection. A few companies do not offer online quoting and most of the time these regional insurance providers sell through independent agents.