Feel like you’re a prisoner to high-priced auto insurance? Trust us when we tell you you are not the only one feeling buyer’s remorse. Popular companies such as GEICO, Progressive and Allstate constantly bombard you with TV and radio ads and it is challenging if not impossible to ignore the flashy ads and find the best price available.
If you have a current auto insurance policy or need a new policy, you will benefit by learning to shop for the lowest rates and possibly find even better coverage. Finding the best rates in Greenwich is not that difficult. Connecticut consumers just need to understand the tricks to get comparison quotes over the internet.
Don’t pay full price with these discounts
Insurance can cost an arm and a leg, but companies offer discounts to help offset the cost. A few discounts will automatically apply at the time of purchase, but a few must be asked about before you will receive the discount. If you don’t get every credit possible, you’re just leaving money on the table.
- Save with a New Car – Buying coverage on a new vehicle is cheaper because new vehicles have to meet stringent safety requirements.
- Braking Control Discount – Vehicles equipped with ABS or steering control can avoid accidents and will save you 10% or more.
- Sign Online – A few companies will give a small break for buying a policy and signing up over the internet.
- Senior Discount – If you qualify as a senior citizen, you may qualify for a discount up to 10%.
- Service Members Pay Less – Being on active duty in the military may qualify for rate reductions.
- Drivers Ed for Students – Have your child successfully complete driver’s ed class in school.
It’s important to understand that most of the big mark downs will not be given to your bottom line cost. Most only apply to specific coverage prices like comprehensive or collision. So when it seems like you would end up receiving a 100% discount, it just doesn’t work that way. But all discounts will bring down your premiums.
How to Lower your Auto Insurance Rates
It’s important that you understand the rating factors that help determine your auto insurance rates. Having a good understanding of what impacts premium levels allows you to make educated decisions that could result in much lower annual insurance costs.
- Drive a safer car and pay less – Safer cars tend to have better insurance rates. Safe vehicles protect occupants better and any reduction in injury severity translates into fewer and smaller insurance claims passed on to you as lower rates.
- Do you have enough liability coverage? – Liability coverage provides coverage if a jury decides you are liable for personal injury or accident damage. Liability insurance provides legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so do not cut corners here.
- Pay less after the wedding – Having a wife or husband actually saves money on your auto insurance policy. It usually means you are more mature and it’s proven that married drivers get in fewer accidents.
- Save money with special equipment – Purchasing a vehicle with an alarm system can help bring down rates. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all aid in stopping auto theft.
- More claims means more premium – Insurance companies in Connecticut generally give lower rates to policyholders who do not rely on their insurance for small claims. If you tend to file frequent claims, you can look forward to either policy cancellation or increased premiums. Insurance coverage is designed for the bigger claims that can’t be paid out-of-pocket.
- High deductibles save money – The deductibles represent how much money you are willing to pay if you file a covered claim. Physical damage insurance, also known as collision and other-than-collision, covers damage that occurs to your car. Examples of covered claims would be colliding with a building, collision with an animal, or theft. The more you’re willing to pay, the lower your rates will be.
- Traffic violations increase rates – A bad driving record has a big impact on rates. Even one citation can boost insurance rates twenty percent or more. Careful drivers tend to pay less for car insurance than their less careful counterparts. If you have dangerous violations like reckless driving, hit and run or driving under the influence may find they need to submit a SR-22 form with their state DMV in order to prevent a license revocation.
Neighborhood agents for auto insurance
A small number of people would prefer to buy from a licensed agent and that is OK! Good agents can point out coverage gaps and help submit paperwork. One of the great benefits of getting online price quotes is you can get lower rates and still have an agent to talk to. And supporting local businesses is important especially in Greenwich.
Once you complete this form (opens in new window), your coverage information is sent to local insurance agents in Greenwich who will return price quotes for your insurance coverage. You don’t have to even leave your home as quotes are delivered straight to your inbox. It doesn’t get any easier!
How to choose the best auto insurance agent in Greenwich
When searching for a reliable agent, there are two different agency structures that you can select. Greenwich agents are either independent (non-captive) or captive. Both types can insure your vehicles, but it’s important to know the difference between them because it can impact your agent selection.
Independent Insurance Agents
Independent insurance agents are not required to write business for one company so they can insure your vehicles with many different companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, your agent can switch companies and you don’t have to find a new agent. When searching for an agent, it’s recommended you include price quotes from at least one independent agent to ensure the widest selection of prices.
Below is a short list of independent agencies in Greenwich who may be able to give you price quotes.
Trm Insurance – 75 Holly Hill Ln # 2 – Greenwich, CT 06830 – (203) 323-1195
John M Glover Agency Inc – – Greenwich, CT 06830 – (203) 869-1476
Elkanah Mead Agency Inc – 87 Greenwich Ave # 2 – Greenwich, CT 06830 – (203) 869-0302
Partner Reinsurance Co-US – 1 Greenwich Plz # 3 – Greenwich, CT 06830 – (203) 485-4200
Captive Insurance Agents
Captive agents are contracted to one company like State Farm, AAA, Farmers Insurance or Allstate. These agents are unable to shop your coverage around so they have to upsell other benefits. They receive extensive training on the products they sell which helps them compete with independent agents.
Shown below is a list of captive agents in Greenwich that can give you rate quotes.
Allstate Insurance – 282 Railroad Ave # 2 – Greenwich, CT 06830 – (203) 869-8220
To view a full list of auto insurance agents in Greenwich, click here to link.
Choosing an insurance agent needs to be determined by more than just the price. Some important questions to ask are:
- How are they compensated?
- Who are their largest clients?
- Does the agency support the community they serve?
- How much can you save by raising your physical damage deductibles?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Are they full-time agents?
- Are there any discounts that you might be missing?
After getting good answers to these questions and a low price estimate, chances are good that you have found a car insurance agent that meets your needs to insure your vehicles.
Misconceptions in auto insurance advertisements
Connecticut drivers can’t get away from ads for car insurance savings by companies like Allstate, GEICO and Progressive. All the ads make an identical promise that you can save if you change to them.
How do they all say the same thing? It’s all in the numbers.
Insurance companies have a preferred profile for the driver that earns them a profit. For instance, a desirable insured could possibly be a mature driver, insures multiple vehicles, and has excellent credit. A driver who fits that profile receives the best rates and therefore will save a lot of money.
Consumers who fall outside the requirements must pay higher prices which leads to business going elsewhere. Company advertisements say “customers that switch” not “everybody who quotes” save money. That is how companies can truthfully make the claims of big savings.
This illustrates why you absolutely need to compare many company’s rates. It’s impossible to know which company will give you the biggest savings.
Find out more about auto insurance
Additional information can be read on the website for the Connecticut Insurance Department through this link. Connecticut consumers can discover disciplinary actions, download brochures, read state legal mandates and laws, and find disaster information.
More effort can pay off
When trying to cut insurance costs, do not sacrifice coverage to reduce premiums. In many cases, someone sacrificed liability limits or collision coverage only to discover later that their decision to reduce coverage ended up costing them more. The proper strategy is to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.
In this article, we presented a lot of ways to compare auto insurance prices online. The key thing to remember is the more rate quotes you have, the better your chances of lowering your rates. Consumers could even find that the most savings is with some of the lesser-known companies. Regional companies can often insure niche markets at a lower cost compared to the large companies like Allstate or State Farm.