If online car insurance comparisons are new to you, you may be overwhelmed by the sheer number of online companies offering insurance in Cleveland.
Lower your Cleveland Car Insurance Rates
It’s important that you understand the different types of things that play a part in calculating the price you pay for car insurance. When you know what positively or negatively determines base rates enables informed choices that could result in cheap car insurance in Cleveland.
Shown below are some of the items car insurance companies consider when setting premiums.
- Is your vehicle built for speed? – The make and model of the vehicle you own makes a huge difference in your rates. Low performance passenger cars usually have the lowest rates, but there are many factors that impact the final cost.
- Don’t let your coverage lapse – Driving your car without having proper coverage is a misdemeanor and as a result your rates will increase for letting your insurance lapse. And not only will your rates increase, failure to provide proof of insurance will get you a steep fine or even jail time.
- Lower miles equals lower premium – Driving more miles in a year the more you’ll pay to insure your vehicle. Almost all companies apply a rate based on their usage. Vehicles that are left in the garage receive lower rates than vehicles that are driven to work every day. Verify your car insurance coverage is showing the proper vehicle usage, because improper ratings can cost you money.
- Lower rates with optional equipment – Purchasing a vehicle that has an advanced theft prevention system can save you a little every year. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping your vehicle from being stolen.
- Safe vehicles cost less to insure – Cars with high safety ratings are cheaper to insure. The safest vehicles result in less severe injuries and better occupant protection translates into fewer and smaller insurance claims and more competitive rates for policyholders.
- Protect yourself with liability coverage – The liability section of your policy is the coverage that protects you in the event that you are found liable for causing damage or personal injury in an accident. It will provide legal defense coverage which can be incredibly expensive. Liability is cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
- Younger drivers pay higher rates – Young drivers in Ohio are statistically proven to be less responsible behind the wheel so they pay higher car insurance rates. If you’ve ever had to add a young driver to your car insurance policy can be very expensive. Older drivers tend to be more responsible, statistically cause fewer accidents and receive fewer citations.
Are you getting all your discounts?
Companies offering auto insurance don’t always list all available discounts very well, so we took the time to find both the well known and the harder-to-find car insurance savings. If you don’t get every credit you qualify for, you are throwing money away.
- Claim Free – Drivers with accident-free driving histories can earn big discounts compared to accident-prone drivers.
- Federal Government Employee – Active or retired federal employment can save as much as 8% depending on your company.
- Safety Course Discount – Taking part in a driver safety course could possibly earn you a 5% discount and easily recoup the cost of the course.
- Drivers Education – Make teen driver coverage more affordable by requiring them to complete a driver education course in school.
- Clubs and Organizations – Belonging to a qualifying organization could qualify you for a break on your policy.
- Seat Belts Save more than Lives – Drivers who require all occupants to wear their seat belts can save up to 15% off your medical payments premium.
It’s important to note that some of the credits will not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So when the math indicates all those discounts means the company will pay you, it just doesn’t work that way.
Misconceptions in car insurance advertisements
Consumers can’t get away from ads for cheaper car insurance from companies such as State Farm and Allstate. All the ads make an identical promise about savings if you change your policy.
How do they all make the same claim? This is how they do it.
Insurance companies have a preferred profile for the type of customer they prefer to insure. An example of a driver they prefer might be over the age of 50, insures multiple vehicles, and has a short commute. A propective insured that hits that “sweet spot” gets the lowest rates and most likely will save quite a bit of money when switching.
Potential customers who do not match this ideal profile must pay higher prices and ends up with the driver buying from a lower-cost company. The ads state “drivers who switch” not “everybody who quotes” save that much. This is how insurance companies can confidently make those claims. This illustrates why you should compare as many rates as you can. It’s impossible to know which insurance companies will provide you with the cheapest rates.
More detailed Ohio car insurance information is available at the Ohio Department of Insurance website. Visitors are able to learn about specific coverages, view agent and company licensing information, and read enforcement actions against agents and companies.
Buy online or local, you save
We’ve covered some good ideas how to compare car insurance prices online. 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 best price on car insurance is with some of the lesser-known companies.
Lower-priced car insurance is available on the web in addition to many Cleveland insurance agents, so you should compare both to have the best selection. There are still a few companies who do not provide you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.
Consumers who switch companies do it for a variety of reasons including an unsatisfactory settlement offer, extreme rates for teen drivers, being labeled a high risk driver and even not issuing a premium refund. No matter why you want to switch, choosing a new insurance company is not as hard as you think.