Tired of being strong-armed to pay your car insurance bill each month? You’re in the same situation as most other car owners in Vermont.
Having so many choices of insurance companies, it can be impossible to pick the lowest cost car insurance company.
Compare the Market for Auto Insurance in Castleton
Comparing auto insurance rates can be challenging if you aren’t aware of the most efficient way to do it. You can spend countless hours talking about coverages with local insurance agents in Castleton, or you can stay home and use the web to maximize your effort.
Most car insurance companies enroll in a system where prospective buyers submit their information once, and each company provides a quote determined by their information. This saves time by eliminating quote forms for each company you want a rate for.
To enter your information into the quoting system, click here (opens in new window).
The only downside to using this type of system is that you can’t choose which companies you will receive quotes from. So if you prefer to choose specific insurance companies to compare prices, we put together a list of auto insurance companies in Vermont. Click to view list.
Whichever way you use, ensure you are comparing identical information for every company. If your comparisons have different values for each quote it will be very difficult to determine which rate is truly the best in Castleton. Having just a slight variation in coverage limits can mean a large discrepancy in price. And when comparison shopping, obtaining a wide range of quotes will increase your chances of finding the best offered rates.
Save 15 percent in 15 minutes? Is it for real?
Auto insurance providers like Allstate, Geico and Progressive constantly bombard you with ads on TV and radio. They all make the same claim that you can save if you switch to them. How do they all say the same thing?
Insurance companies have a certain “appetite” for the type of customer that is profitable for them. For example, a desirable insured could be a mature driver, has no driving citations, and drives less than 7,500 miles a year. A customer getting a price quote who meets those qualifications is entitled to the best price and as a result will probably cut their rates substantially.
Consumers who are not a match for this ideal profile will be charged more money and this can result in the customer not buying. The ad wording is “customers who switch” not “everybody who quotes” save that much. That is how companies can advertise the way they do. That is why drivers should get a wide range of price quotes. It is impossible to predict which insurance companies will have the lowest rates.
Decisions you make can impact your rates
It’s important that you understand the factors that come into play when calculating the rates you pay for auto insurance. When you know what positively or negatively controls the rates you pay enables informed choices that can help you get lower auto insurance prices.
- Where you live – Choosing to live in less populated areas has it’s advantages when insuring your vehicles. Drivers in populated areas regularly have congested traffic and longer commutes to work. Less people living in that area means a lower chance of having an accident and a lower car theft rate.
- Marriage pays dividends – Being married can actually save you money on auto insurance. It usually means you are more mature than a single person it has been statistically shown that married drivers get in fewer accidents.
- Special features that cut premiums – Choosing a vehicle with anti-theft technology or alarm system can help bring down rates. Anti-theft features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart auto theft.
- Don’t sacrifice liability coverage – Your policy’s liability coverage provides coverage if ever a jury decides you are liable for personal injury or accident damage. It will provide legal defense up to the limits shown on your policy. This coverage is very inexpensive as compared to coverage for physical damage, so drivers should carry high limits.
- Better crash test results mean better rates – Vehicles with high crash test scores get lower rates. These vehicles have better occupant injury protection and better occupant protection translates into fewer and smaller insurance claims and more competitive rates for policyholders.
- Type of vehicle determines base rates – The performance level of the car you are buying insurance for makes a substantial difference in the rate you pay. The most favorable rates are for low performance passenger models, but other factors influence the final cost greatly.
- Small claims can cost you – If you frequently file small claims, you can look forward to either a policy non-renewal or much higher rates. Companies in Vermont give cheaper rates to policyholders who do not rely on their insurance for small claims. Auto insurance is intended for larger claims.
Save money by taking advantage of these discounts
Auto insurance companies don’t always list every available discount in a way that’s easy to find, so we researched both well-publicized as well as the least known auto insurance savings.
- Pay Now and Pay Less – If paying your policy premium upfront instead of paying each month you could save up to 5%.
- Braking Control Discount – Cars that have steering control and anti-lock brakes prevent accidents and therefore earn up to a 10% discount.
- Homeowners Pay Less – Owning a home in Castleton can save you money due to the fact that maintaining a home demonstrates responsibility.
- Paperwork-free – A handful of insurance companies give back up to $50 for buying your policy online.
- Low Mileage – Fewer annual miles can qualify you for discounted rates on garaged vehicles.
- Defensive Driver – Taking part in a driver safety course can save you 5% or more depending on where you live.
- Discount for Life Insurance – Companies who offer life insurance give a break if you buy life insurance.
- Air Bag Discount – Factory air bags and/or automatic seat belt systems can qualify for discounts of up to 25% or more.
- Early Switch Discount – Some companies give discounts for switching to them prior to your current policy expiration. It’s a savings of about 10%.
- Good Student – Performing well in school can be rewarded with saving of up to 25%. Earning this discount can benefit you up to age 25.
As a disclaimer on discounts, some credits don’t apply to the entire cost. Some only reduce specific coverage prices like medical payments or collision. So when the math indicates it’s possible to get free car insurance, companies don’t profit that way.
For a list of insurance companies offering auto insurance discounts in Castleton, click here.
Final thoughts
We just covered some good ideas how you can get a better price on auto insurance. The key thing to remember is the more times you quote, the higher your chance of finding lower rates. You may be surprised to find that the lowest priced auto insurance comes from a company that doesn’t do a lot of advertising. They may cover specific market segments cheaper as compared to the big name companies such as Allstate and Progressive.
As you go through the steps to switch your coverage, don’t be tempted to buy poor coverage just to save money. In too many instances, drivers have reduced comprehensive coverage or liability limits to discover at claim time that it was a big error on their part. Your focus should be to buy a smart amount of coverage for the lowest price while still protecting your assets.
Even more information can be found at the Vermont Department of Financial Regulation website. Vermont drivers can view a list of available companies, file complaints about a company, and find a variety of consumer forms.