Did budget coverage turn out to be overpriced auto insurance? It’s a common feeling and many Union drivers feel the same as you. You have so many car insurance companies to choose from, and although it’s nice to have a selection, it can be more challenging to compare rates.
It is always a good idea to compare prices periodically because auto insurance prices are variable and change quite frequently. Even if you think you had the best deal on your last policy there may be better deals available now. Block out anything you think you know about auto insurance because you’re going to get a crash course in the proper way to remove unneeded coverages and save money.
Informed consumers save more
Part of the auto insurance buying process is learning the rating factors that help determine auto insurance rates. If you have some idea of what impacts premium levels, this allows you to make good choices that can help you get lower rates. Lots of things are taken into consideration when premium rates are determined. Most are fairly basic like an MVR report, but some are more obscure like your continuous coverage or your financial responsibility.
- Frequent claims will cost you more – If you file a lot of claims you shouldn’t be surprised to get higher rates. Auto insurance companies in Missouri provide the lowest premiums to insureds who file claims infrequently. Auto insurance is intended for the large, substantial claims.
- Get better rates if married – Your spouse can actually save you money on auto insurance. Having a significant other demonstrates that you tend to be more mature than a single person and it’s statistically proven that married couples file fewer claims.
- Only buy extra policy coverages you need – There are many optional add-on coverages that can waste your money if you aren’t careful. Coverages for personal injury protection, high-cost glass coverage, and extra life insurance coverage are probably not needed. You may think they are a good idea when discussing your needs, but if you don’t need them consider taking them off your policy.
- Drivers with good credit save on auto insurance – Having a bad credit history is likely to be a major factor in determining your rates. Drivers who have excellent credit scores tend to be better drivers and file fewer claims than drivers who have bad credit. If your credit rating is lower than you’d like, you could be paying less to insure your vehicle if you improve your credit rating.
- Drive lots and pay more – The more you drive your car each year the more you’ll pay to insure your vehicle. Most companies apply a rate based on how the vehicle is used. Vehicles that have low annual miles cost less to insure than vehicles that are driven to work every day. Double check that your declarations sheet is showing the correct usage for each vehicle, because it can save money.
Take policy discounts and save
Some companies don’t always list every disount available in a way that’s easy to find, so the following list contains a few of the more common in addition to some of the lesser obvious credits available to lower your premiums when you .
- Buy New and Save – Putting auto insurance coverage on a new car can be considerably cheaper since new vehicles are generally safer.
- Service Members Pay Less – Being on active duty in the military could trigger a small discount.
- Club Memberships – Joining qualifying clubs or civic groups may earn a discount on auto insurance.
- Discounts for Multiple Vehicles – Having more than one vehicle with the same company can get a discount for every vehicle.
- Theft Prevention Discount – Cars with anti-theft systems help deter theft and earn discounts up to 10% off your .
- Discount for Multiple Policies – If you can bundle your auto and home insurance and insure them with the same company you could earn a discount of nearly 15% which can help you find .
- Cautious Drivers – Accident-free drivers could pay up to 40% less than their less cautious counterparts.
- Senior Citizen Discount – Older drivers may qualify for a discount up to 10%.
- No Charge for an Accident – This isn’t a discount exactly, but companies like Geico and Liberty Mutual permit an accident before hitting you with a surcharge if you are claim-free prior to the accident.
- ABS and Traction Control Discounts – Vehicles with ABS braking systems or traction control are much safer to drive so companies give up to a 10% discount.
One thing to note about discounts is that some of the credits will not apply to your bottom line cost. Most only cut the cost of specific coverages such as comprehensive or collision. Even though it may seem like you can get free auto insurance, it’s just not the way it works.
To see a list of auto insurance companies that offer the discounts shown above in Union, click here to view.
Learn more about auto insurance in Missouri
More information can be read on the found here. Consumers can learn about insurance regulations, get help finding coverage, find a variety of consumer forms, and read industry bulletins.
The following articles may also be useful.
More effort can pay off
We covered quite a bit of information on how to get a better price on auto insurance. The key concept to understand is the more price quotes you have, the better chance you’ll have of finding . Consumers may even find the best price on auto insurance is with an unexpected company. They may have significantly lower prices on certain market segments than their larger competitors like Progressive and Geico.
When searching for , do not skimp on critical coverages to save a buck or two. Too many times, an insured cut collision coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. The aim is to get the best coverage possible at the best possible price while still protecting your assets.