If you’re new to shopping for auto insurance online, you can be overwhelmed due to the large number of companies vying for business in Richmond.
Smart consumers take time to shop coverage around at least once a year because insurance rates are rarely the same from one policy term to another. Despite the fact that you may have had the lowest rates six months ago a different company probably has better rates today. Don’t believe everything you read about auto insurance online but by reading this article, you’re going to learn some tested techniques to slash your auto insurance rates.
This article will introduce you to how car insurance quotes work and some money-saving tips. If you currently have a car insurance policy, you will be able to reduce your rates substantially using this information. Indiana drivers only need to know how to compare price quotes online.
Decisions you make can impact your rates
An important part of buying insurance is that you know the factors that play a part in calculating the price you pay for auto insurance. Knowing what controls the rates you pay empowers consumers to make smart changes that will entitle you to better auto insurance rates.
Shown below are a partial list of the pieces used by your company to calculate prices.
- Do men or women drive better? – Statistics show that men are more aggressive behind the wheel. However, don’t assume that women are BETTER drivers than men. They both cause accidents at a similar rate, but men cause more damage and cost insurance companies more money. Men also receive more costly citations like reckless driving and DUI.
- Careful drivers pay lower rates – Good drivers have lower premiums than their less careful counterparts. Even one ticket can increase rates twenty percent or more. Drivers with dangerous tickets like DWI, reckless driving or hit and run convictions are required to file a SR-22 with their state motor vehicle department in order to prevent a license revocation.
- More miles equals more premium – The more miles you rack up on your car in a year the higher your rates will be. The majority of insurers apply a rate based on how the vehicle is used. Autos that are left in the garage can get a lower rate compared to those used for work or business. Verify your auto insurance policy shows how each vehicle is driven, because it can save money.
- Claim-free discounts can add up – If you tend to file frequent claims, you can pretty much guarantee higher rates. Companies in Indiana generally give better rates to insureds who are claim-free. Insurance coverage is intended for the large, substantial claims.
- Higher deductibles cost less – Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, protects your car from damage. A few examples of covered claims are running into the backend of another car, damage from fire, or theft. Your deductibles are the amount of money you are willing to pay out-of-pocket before your auto insurance pays a claim. The higher the amount you have to pay, the less your company will charge you for insurance.
- Safer cars are cheaper to insure – Vehicles with good safety scores are cheaper to insure. The safest vehicles have better occupant injury protection and better occupant protection means less money paid by your insurance company and thus lower rates.
- Don’t cancel a policy without a new one in place – Letting your insurance expire will be a sure-fire way to trigger a rate increase. Not only will rates go up, but not being able to provide proof of insurance may earn you a steep fine or even jail time.You may then be required to submit proof of financial responsibility or a SR-22 with the Indiana motor vehicle department.
- How your age affects price – Young drivers in Indiana are statistically proven to be more careless behind the wheel so they pay higher auto insurance rates. Parents adding a youthful driver to your policy can be very expensive. Older drivers are viewed as being more responsible, statistically cause fewer accidents and get fewer tickets.
Low Cost Richmond Auto Insurance
Finding a better price on auto insurance is a fairly straight forward process. All you need to do is take the time comparing rate quotes online from several insurance companies. It is quite easy and can be accomplished in just a few minutes using one of these methods.
Probably the best way to get the best comparison quotes would be an industry-wide quote request form (click to open form in new window). This type of form eliminates the need for repetitive form entry for every auto insurance company. A single, simple form will return price quotes from all major companies. This is by far the quickest method.
A slightly less efficient method to shop for auto insurance online is going to the website for each individual company and complete a new quote form. For sake of this example, let’s assume you want rates from Geico, 21st Century and Liberty Mutual. To get rate quotes you would need to spend time on each company’s site to input your insurance information, and that’s why the first method is more popular. To view a list of companies in Richmond, click here.
The least efficient method to compare rates is to spend time driving to different Richmond agent offices. The ability to buy insurance online makes this process obsolete unless you have a need for the trained guidance of a local Richmond agent. Drivers can find lower rates online but buy from a local insurance agent and we’ll talk about that later.
It’s your choice how you get your quotes, but make absolute certain that you use apples-to-apples coverages and limits for each price quote. If your comparisons have higher or lower deductibles it will be very difficult to make a fair comparison in Richmond.
Ads can be misleading
Consumers in Indiana get pounded daily by advertisements for car insurance savings by State Farm and Allstate. They all say the same thing about savings if you switch to their company.
How can each company claim to save you money? It’s all in the numbers.
Insurance companies have a certain “appetite” for the type of driver they prefer to insure. For instance, a driver they prefer might be profiled as over the age of 50, insures multiple vehicles, and has great credit. A propective insured that hits that “sweet spot” will get the preferred rates and as a result will probably save when switching.
Potential customers who are not a match for these standards will be quoted a more expensive rate and this can result in the driver buying from a lower-cost company. The ads state “drivers who switch” not “everyone that quotes” save that much money. This is how companies can advertise the way they do.
This emphasizes why it is so important to get quotes from several different companies. You cannot predict which auto insurance company will provide you with the cheapest rates.
Cut your auto insurance rates with discounts
Car insurance can cost a lot, but you may find discounts that you may not know about. Certain discounts will be triggered automatically when you quote, but a few must be asked about before you get the savings. If you aren’t receiving every discount you deserve, you are throwing money away.
- Clubs and Organizations – Belonging to a civic or occupational organization could trigger savings on auto insurance.
- Senior Discount – Older drivers may qualify for a small decrease in premiums.
- Multi-policy Discount – When you combine your home and auto insurance with the same company you may save up to 20% off your total premium.
- E-sign – A few companies may give you up to $50 for buying a policy and signing up digitally online.
- Anti-lock Brake System – Cars that have steering control and anti-lock brakes can avoid accidents and qualify for as much as a 10% discount.
- Discount for Good Grades – A discount for being a good student can save 20 to 25%. This discount can apply well after school through age 25.
- Claim Free – Claim-free drivers can earn big discounts when compared with accident-prone drivers.
Drivers should understand that most credits do not apply to the entire cost. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. Even though it may seem like all those discounts means the company will pay you, companies wouldn’t make money that way. Any amount of discount will cut your overall premium however.
To choose insurers who offer auto insurance discounts in Richmond, follow this link.
Don’t I need to talk to an agent?
Certain consumers just want to visit with an insurance agent and that is OK! Insurance agents can point out coverage gaps and help submit paperwork. One of the great benefits of comparing insurance prices online is the fact that you can find the best rates and still choose a local agent. And providing support for small agencies is important particularly in Richmond.
After completing this short form, the quote information is emailed to companies in Richmond who will compete for your business. You don’t have to even leave your home as quotes are delivered straight to your inbox. Now that’s easy!
Insurance agencies in Richmond come in two varieties
When looking for an insurance agent, you need to know there are two types of insurance agents that you can select. Richmond agents can either be independent (non-captive) or captive. Either one can insure your vehicles, but it’s worth learning the differences because it can impact your selection of an agent.
Independent Agents (or Brokers)
Independent agents are not locked into one company but instead can place your coverage amongst many companies and possibly get better coverage at lower prices. If your agent finds better pricing, the business is moved internally without you having to go to a different agency. When comparison shopping, you should always contact at a minimum one independent agency to have the most options to choose from. They often place coverage with smaller companies which can be an advantage.
Below is a short list of independent insurance agencies in Richmond who can help you get price quotes.
- Doug Auger Insurance – 1903 National Rd W – Richmond, IN 47374 – (765) 966-7268
- Thackrey Insurance – 1810 Williamsburg Pike – Richmond, IN 47374 – (765) 962-4700
Captive Insurance Agents
This type of agents write business for a single company like American Family, State Farm and Allstate. They generally cannot compare other company’s rates so keep that in mind. These agents are very knowledgeable in insurance sales which can be an advantage. Consumers often buy insurance from these agents partially due to loyalty to the company and the convenience of having a single billing for all their coverages.
Shown below are captive insurance agents in Richmond who can help you get comparison quotes.
- Farm Bureau Insurance – 1444 NW 5th St – Richmond, IN 47374 – (765) 962-9548
- State Farm Insurance – 1055 Engel Dr – Richmond, IN 47374 – (765) 966-4536
- American Family Insurance – 3400 E Main St – Richmond, IN 47374 – (765) 939-1862
For a complete listing of captive insurance agents in Richmond, please go to this site.
Deciding on an insurance agency requires more thought than just the premium amount. Any agent should have no problem answering these questions:
- Do they make recommendations based only on price?
- What insurance company do they write the most business with?
- If they are an independent agency, which companies do they recommend?
- If you are a high risk driver, do they have special markets for your coverage?
- What is the agency’s Better Business Bureau rating?
Upon receiving acceptable answers to any questions you have as well as a affordable price, you’ve probably found an insurance agent that will properly service your auto insurance policy.
Additional auto insurance information can be found on the Indiana Department of Insurance website. Click here for link. Visitors are able to file complaints about a company, find disaster information, and find out which companies have the most complaints.
These articles may also be worth reading.
- Best Car Insurance Exclusively for Richmond Residents
- Things You Must Know Before Shopping for Richmond Auto Insurance Online
A little work can save a LOT of money
When buying insurance coverage, don’t be tempted to buy lower coverage limits just to save a few bucks. There have been many cases where someone sacrificed collision coverage and learned later that their decision to reduce coverage ended up costing them more. Your strategy should be to purchase plenty of coverage for the lowest price while still protecting your assets.
We just presented some good ideas how to reduce auto insurance prices online. The key thing to remember is the more rate comparisons you have, the better your chances of lowering your rates. Consumers could even find that the lowest rates come from a smaller regional carrier.
Drivers switch companies for a number of reasons such as high prices, an unsatisfactory settlement offer, being labeled a high risk driver and high rates after DUI convictions. Regardless of your reason for switching companies, finding a new auto insurance company is easier than you think.