Have you fallen victim to an overpriced auto insurance policy? Trust us when we tell you there are many Troy consumers feeling the pinch from expensive auto insurance. Insurance companies such as Allstate and Progressive all promote huge savings with catchy ads and it is difficult to see through the deception and do the work needed to find the best deal.
How much can you save with discounts?
Car insurance companies don’t list all their discounts very clearly, so here is a list some of the best known and the more hidden auto insurance savings. If you’re not getting every credit available, you are paying more than you should be.
- Drivers Ed for Students – Require your teen driver to complete a driver education course in school.
- Anti-theft Discount – Vehicles with anti-theft systems help deter theft and earn discounts up to 10%.
- Discount for Good Grades – This discount can get you a discount of up to 25%. The discount lasts well after school through age 25.
- Seat Belts Save – Requiring all passengers to wear their seat belts can save 10% or more on the medical payments or PIP coverage costs.
- Resident Student – Any of your kids living away from home attending college and do not have access to a covered vehicle can receive lower rates.
- No Charge for an Accident – Certain companies permit an accident without raising rates as long as you don’t have any claims prior to the accident.
- Fewer Miles Equal More Savings – Low mileage vehicles could qualify for discounted rates on garaged vehicles.
- More Vehicles More Savings – Having multiple cars or trucks with the same company qualifies for this discount.
Consumers should know that most discount credits are not given the the whole policy. Most only reduce the cost of specific coverages such as medical payments or collision. So even though it sounds like it’s possible to get free car insurance, companies wouldn’t make money that way.
To choose insurance companies who offer auto insurance discounts in Troy, click this link.
Decisions you make can impact your rates
Smart consumers have a good feel for some of the elements that go into determining the price you pay for auto insurance. Knowing what determines base rates allows you to make educated decisions that may reward you with better auto insurance rates.
- Special features that cut premiums – Purchasing a vehicle with anti-theft technology or alarm system can save you a little every year. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your car from being stolen.
- Where do you drive? – Driving more miles in a year the more you will pay for auto insurance. Most insurance companies price each vehicle’s coverage based on how the vehicle is used. Autos that are left in the garage can get a lower rate than those used for commuting. Verify your auto insurance coverage shows the proper vehicle usage, because it can save money.
- Higher safety ratings means cheaper insurance – Cars with high safety ratings get lower rates. These vehicles result in less severe injuries and better occupant protection translates into savings for insurance companies and thus lower rates.
- Your job and insurance rates – Occupations like lawyers, business owners and accountants are shown to have higher rates than average due to job stress and lengthy work days. On the flip side, jobs such as actors, athletes and retirees pay the least.
- Too many auto insurance claims drive up costs – Companies in Michigan generally give better rates to drivers who do not rely on their insurance for small claims. If you tend to file frequent claims, you can look forward to higher rates. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.
- Your credit rating is important – Having a bad credit score is a huge factor in calculating your auto insurance rates. Drivers who have high credit scores tend to be better drivers and file fewer claims than those with lower ratings. If your credit score is low, you could be paying less to insure your by improving your credit score.
Can’t I compare rates from local Troy agents?
A small number of people would rather sit down with an agent and that is a personal choice. Insurance agents are trained to spot inefficiencies and help you file claims. One of the great benefits of price shopping on the web is you can get the best rates and still have an agent to talk to.
To make it easy to find an agent, after completing this form (opens in new window), your coverage information is transmitted to insurance agents in Troy who will give you bids for your insurance coverage. You don’t have to even leave your home due to the fact that quote results will go immediately to your email address. Now that’s easy!
Choosing an insurer requires more thought than just a cheap price. Agents should be asked these questions:
- Is working in the agency their full-time job?
- What insurance company do they write the most business with?
- If your car is in the repair shop, do you have coverage for a rental car?
- Is assistance available after office hours?
- Are you getting all the discounts the company offers?
- Do they assist clients in filing claims?
Auto insurance agents in Troy come in two varieties
If you’re trying to find local Troy agents, there are a couple of different types of agents that you can select. Agencies in Troy are categorized either independent (non-captive) or captive. Both types can write coverage properly, but it’s worth mentioning how they are different since it can impact the type of agent you choose
Captive Insurance Agents
These agents work for only one company and some examples include Liberty Mutual, State Farm, Allstate and AAA. They generally cannot shop your coverage around so keep that in mind. They are very knowledgeable on their company’s products which helps them compete with independent agents.
Shown below are Troy captive insurance agents who may provide you with comparison quotes.
Allstate Insurance – 3622 Rochester Rd – Troy, MI 48083 – (248) 524-9970
State Farm Insurance – 2888 E Long Lake Rd # 140 – Troy, MI 48085 – (248) 689-2992
Farmers Insurance Group – 1475 W Big Beaver Rd # 220 – Troy, MI 48084 – (248) 643-7575
Independent Agents
Independent insurance agents do not work for one specific company but instead can place your coverage with any number of different companies depending on which coverage is best. If your agent finds better pricing, your agent can switch companies and you won’t have to switch agencies. When searching for an agent, we recommend you include price quotes from at least one independent agent to have the most options to choose from.
The following is a short list of independent agents in Troy that can give you comparison quotes.
Industrial Insurance Svc – 2855 Coolidge Hwy # 202 – Troy, MI 48084 – (248) 649-1500
Knollenberg Agency – 198 E Big Beaver Rd – Troy, MI 48083 – (248) 528-0200
Wayne Oakland Agency – 3221 W Big Beaver Rd # 109 – Troy, MI 48084 – (248) 649-6006
E M Schroeder Agency – 275 E Big Beaver Rd # 102 – Troy, MI 48083 – (248) 689-1020
Lenders Financial Insurance – 2838 E Long Lake Rd – Troy, MI 48085 – (248) 689-2001
For a complete listing of insurance agents in Troy, please click here.
Upon receiving positive responses to these questions and an affordable coverage quote, most likely you have located an insurance agent that is a good match to service your policy.
Learn more today
Even more information can be found at the Michigan Office of Financial and Insurance Regulation website. Visitors are able to read consumer alerts, discover disciplinary actions, read industry bulletins, and file complaints about an insurance agent or broker.
Online plus local equals savings
Low-cost auto insurance is possible online and also from your neighborhood Troy agents, and you need to comparison shop both in order to have the best chance of saving money. A few companies may not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.
We just covered a lot of tips how to reduce auto insurance prices online. It’s most important to understand that the more times you quote, the better your comparison will be. Drivers may discover the best price on auto insurance is with the smaller companies. They may have significantly lower rates on certain market segments compared to the large companies like State Farm, Geico and Nationwide.