Tired of trying to scrape together enough money to pay your car insurance bill each month? You are in the same boat as many other Mississippi drivers.
Popular companies such as Allstate, Progressive and Geico constantly bombard you with fancy advertisements and it can be hard to avoid their marketing magic and effectively compare rates to find the best deal.
If you currently have car insurance, you will most likely be able to lower your premiums substantially using this strategy. Finding affordable coverage in Madison is not rocket science. Nevertheless, Mississippi vehicle owners benefit from understanding how insurance companies compete online and take advantage of how the system works.
Smart Buyers can Save Money
Consumers need to have an understanding of the factors that go into determining the price you pay for auto insurance. Having a good understanding of what impacts premium levels helps enable you to make changes that will entitle you to big savings.
Listed below are a few of the “ingredients” that factor into prices.
- Do you need the policy add-ons? – There are many extra coverages that can waste your money on your policy. Insurance for personal injury protection, accident forgiveness and membership fees are some examples. These may sound like a good investment initially, but your needs may have changed so eliminate the coverages to reduce your premium.
- Drive a safer car and pay less – Cars with high safety ratings tend to have better insurance rates. These vehicles result in less severe injuries and better occupant protection translates into savings for insurance companies and lower rates for you.
- Consolidate policies to earn discounts – Many auto insurance companies will award you with lower prices to people who carry more than one policy, otherwise known as a multi-policy discount. Even with this discount, it’s in your best interest to compare rates to make sure you are getting the best deal.
- Always keep insurance in force – Driving your car without having proper coverage can get your license suspended and as a result your rates will increase for letting your coverage lapse. Not only will you pay more, but being ticketed for driving with no insurance can result in a license revocation or jail time.
- Liability coverage is cheap – Liability coverage is the protection when a jury decides you are liable for damages from an accident. It provides legal defense starting from day one. Liability insurance is quite affordable when compared with rates for comp and collision, so buy as much as you can afford.
How to Buy Madison Auto Insurance Online
There are multiple methods to shop for auto insurance, but one way is less time-consuming than others. You could spend the better part of a day talking about coverages with local insurance agents in Madison, or you could use online quoting to maximize your effort.
Most of the best insurance companies participate in a marketplace that enables customers to submit their information once, and each company then gives them pricing based on that information. This saves time by eliminating repetitive form submissions for every auto insurance company.
To fill out one form to compare multiple rates now click here to open in new window.
One minor caviat to getting quotes like this is you are unable to specify which companies to get pricing from. So if you prefer to choose specific insurance companies to compare prices, we have a listing of low cost auto insurance companies in Mississippi. View list of Mississippi insurance companies.
Which method you use is up to you, but ensure you are comparing exactly the same coverages on every quote you get. If the quotes have unequal deductibles or liability limits it’s not possible to find the best deal in Madison. Slightly different coverages may result in a large different in cost. Just keep in mind that comparing more company’s prices provides better odds of finding the best rates.
Are you getting all your discounts?
Companies do not advertise all available discounts in an easy-to-find place, so the following is a list of both the well known and the more hidden ways to save on auto insurance.
- E-sign – Some insurance companies will discount your bill up to fifty bucks for buying a policy and signing up digitally online.
- Anti-lock Brake System – Anti-lock brake equipped vehicles are safer to drive and therefore earn up to a 10% discount.
- 55 and Retired – If you’re over the age of 55, you can possibly qualify for reduced rates.
- Passive Restraint Discount – Cars that have air bags can qualify for discounts of more than 20%.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to take driver’s ed class if it’s offered in school.
- More Vehicles More Savings – Insuring multiple cars or trucks on the same auto insurance policy qualifies for this discount.
- Good Students Pay Less – Performing well in school can be rewarded with saving of up to 25%. This discount can apply up until you turn 25.
- Discount for Life Insurance – Some companies give a break if you buy a life insurance policy as well.
It’s important to understand that most credits do not apply to all coverage premiums. A few only apply to specific coverage prices like collision or personal injury protection. Just because it seems like you would end up receiving a 100% discount, you won’t be that lucky.
What if I want to buy from a local Madison agent?
Some people prefer to buy from a licensed agent and there is nothing wrong with that. One of the best bonuses of comparing insurance prices online is that you can obtain the lowest rates but still work with a licensed agent.
For easy comparison, once you complete this quick form, your coverage information is sent to participating agents in Madison who will return price quotes for your business. You never need to leave your house since price quotes are sent straight to your inbox. How’s that for easy! You can find better rates and a licensed agent to work with.
Picking a company requires more thought than just a low price. Any agent should be forthright in answering these questions:
- Is vehicle mileage a factor when determining depreciation for repairs?
- How much will you save each year by using a higher deductible?
- Which insurance companies are they affiliated with?
- Who are their largest clients?
- Did they already check your driving record and credit reports?
- What will you get paid if your car is a total loss? How is that amount determined?
The type of insurance agent you choose is important
When finding a reputable insurance agent or broker, you need to know there are two different types of agents to choose from. Madison agents are classified as either captive or independent (non-captive).
Captive Insurance Agents
This type of agents can only write with one company such as Allstate, State Farm and Farmers Insurance. These agents are unable to compare other company’s rates so they are skilled at selling on more than just price. They are very knowledgeable on the products they sell which can be an advantage.
The following is a list of captive agents in Madison that can give you price quotes.
State Farm Insurance – 7720 Old Canton Rd # D – Madison, MS 39110 – (601) 856-8009
Shelter Insurance – 950 Highway 51 # D – Madison, MS 39110 – (601) 856-9555
Farmers Insurance Group – 104 Saxony Ct – Madison, MS 39110 – (601) 856-0030
Independent Agencies or Brokers
These agents are not employed by any specific company so they have the ability to put coverage amongst many companies enabling the ability to shop coverage around. To transfer your coverage to a different company, an independent agent can move your coverage without you having to go to a different agency.
When comparing rates, you should always get quotes from at a minimum one independent agency to ensure the widest selection of prices.
Shown below is a list of independent agents in Madison that can give you price quotes.
Insurance Associates-Madison – 2085 Main St – Madison, MS 39110 – (601) 853-2227
State Auto Insurance Co – 215 Heritage Dr – Madison, MS 39110 – (601) 792-4598
For a complete listing of Madison insurance agents, simply jump to this page.
After getting acceptable answers to all your questions in addition to an acceptable price estimate, you have narrowed it down to a car insurance agent that can service your policy.
How do I know if I need professional advice?
When buying the best auto insurance coverage, there isn’t really a “perfect” insurance plan. Every situation is different so this has to be addressed. For instance, these questions can help discover whether or not you would benefit from an agent’s advice.
- Does coverage extend to a rental car in a foreign country?
- Why am I required to buy high-risk coverage?
- What is the difference between comprehensive and collision coverage?
- Should I rate my vehicle as pleasure use or commute?
- When does my teenage driver need to be added to my policy?
- Do I need PIP (personal injury protection) coverage in Mississippi?
If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.
Even more information can be found at the Mississippi Insurance Department website. Visitors are able to learn about specific coverages, read industry bulletins, and view agent and company licensing information.
The following information may also be useful.
In the end, you save
As you shop your coverage around, make sure you don’t reduce coverage to reduce premium. In many instances, an accident victim reduced full coverage only to regret that it was a big error on their part. The proper strategy is to purchase plenty of coverage at the best price while not skimping on critical coverages.
We covered a lot of ways to reduce auto insurance prices online. The key concept to understand is the more you quote, the better chance you’ll have of finding lower rates. Consumers may even find the best prices are with the smaller companies. Smaller companies may have significantly lower rates on certain market segments than their larger competitors like Allstate, Geico and Progressive.