Pretty sure you bought an overpriced auto insurance policy? Say no more because you’re not alone. Popular companies such as State Farm, Progressive and GEICO continually bombard you with ad campaigns and it is difficult to ignore the promise of big savings and effectively compare rates to find the best deal.
It’s smart to shop coverage around at least once a year because auto insurance prices go up and down regularly. Despite the fact that you may have had the best deal a few years ago other companies may now be cheaper. Block out anything you think you know about auto insurance because you’re going to get a crash course in the only way to find better rates and still maintain coverage.
If you have car insurance now, you will most likely be able to cut costs considerably using these tips. Buying car insurance in Soda Springs is not rocket science. But Idaho consumers must know how big insurance companies sell online because it can help you find the best coverage.
Four things that determine your costs
Lots of things are part of the equation when you get your auto insurance bill. Some factors are common sense like your driving record, although others are more transparent such as your credit history or your financial responsibility. The best way to find cheaper auto insurance is to take a look at the factors that play a part in calculating the level of your policy premiums. If you understand what controls the rates you pay, this enables you to make decisions that may reward you with much lower annual insurance costs.
- Fast cars cost more to insure – The performance level of the vehicle you need to insure makes a big difference in your auto insurance rates. Lower performance four cylinder passenger vehicles generally receive the lowest base rates, but many other things help determine your insurance rates.
- Drive less and get lower costs – The higher the mileage driven every year the more you’ll pay to insure your vehicle. Many insurance companies calculate prices partially by how you use the vehicle. Autos not used for work or commuting cost less to insure than those that get driven frequently. Ask your agent if your auto insurance declarations sheet properly reflects annual mileage.
- No auto insurance claims equals cheaper prices – Car insurance companies in Idaho give discounts to people that do not abuse their auto insurance. If you tend to file frequent claims, you can pretty much guarantee higher rates. Your car insurance is intended for major claims that would cause financial hardship.
- Remove unneeded incidental coverages – Insurance policies have a lot of optional add-on coverages that you can buy on your auto insurance policy. Add-on coverages like coverage for rental cars, accident forgiveness, and extra life insurance coverage are some examples. These may sound like a good investment when you first buy your policy, but your needs may have changed so consider taking them off your policy.
How to buy auto insurance online
All the larger auto insurance companies give prices online. Doing online price comparisons is quite easy as you simply type in your personal and coverage information as detailed in the form. After you submit the form their system automatically retrieves your driving and credit reports and provides a quote based on these factors. This streamlines rate comparisons, but the time it takes to visit multiple sites and type in the same data can get tiresome after awhile. But it’s very important to do this if you are searching for lower prices.
Isn’t there an easier way to compare rates?
A more efficient way to find better auto insurance pricing requires only one form that gets price quotes from multiple companies. It’s a real time-saver, requires much less work on your part, and makes price shopping online a lot less work. After sending your information, it is quoted and you can select any one of the quotes that you receive. If you find a better price you can simply submit the application and purchase coverage. The whole process takes just a few minutes to complete and you will know how your current rates stack up.
In order to compare rates now, click here to open in new window and enter your vehicle and coverage information. To compare your current rates, we recommend you input coverages and limits identical to your current policy. This guarantees you will receive an apples-to-apples comparison based on the exact same insurance coverage.
Are you falling for claims of savings?
Popular auto insurance providers such as GEICO, State Farm and Progressive regularly use ads on television and other media. All the companies tend to make the same promise about savings if you just switch your coverage. That’s great but how can every company offer drivers better rates? This is the way they can do it.
Different companies have specific criteria for the driver they prefer to insure. One example of a profitable risk profile may be between the ages of 30 and 45, has never had a policy lapse, and drives less than 10,000 miles a year. Someone that fits those parameters will get the preferred premium rates and is almost guaranteed to save a lot of money.
Potential insureds who don’t qualify for those criteria will probably have to pay higher premium rates and this can result in business not being written. If you pay attention, the ads say “people that switch” not “all people who quote” can get the lowest rates when switching. That is how companies can make it sound like they have such great car insurance rates. This really illustrates why you need to get price quotes at each policy renewal. You cannot predict which auto insurance company will have the lowest rates.
Discounts for cheaper auto insurance quotes
The cost of insuring your cars can be expensive, but you can get discounts that many consumers don’t even know exist. Some discounts apply automatically when you get a quote, but lesser-known reductions have to be asked for in order for you to get them. If you do not check that you are getting every discount you qualify for, you could be saving more on your auto insurance.
- Theft Deterent – Cars, trucks, and SUVs equipped with anti-theft or alarm systems are less likely to be stolen so companies will give you a small discount.
- Student Driver Training – Teen drivers should enroll and complete driver’s education if offered at their school.
- Safety Course Discount – Completing a course in defensive driver can save you 5% or more depending on where you live.
- Air Bag Discount – Vehicles equipped with air bags or automatic seat belts may earn rate discounts of 20 to 30 percent.
- More Vehicles More Savings – Purchasing coverage when you have more than one vehicle with one company can reduce the rates for all insured vehicles.
- Good Drivers – Insureds without accidents could pay up to 40% less than drivers with accidents.
Discounts lower rates, but most discounts do not apply to your bottom line cost. Some only reduce the cost of specific coverages such as comprehensive or collision. So even though it sounds like adding up those discounts means a free policy, it’s just not the way it works.
To find insurance companies that offer some of these discounts in Idaho, click here.
You may need specialized auto insurance coverage
When buying proper insurance coverage for your vehicles, there is no single plan that fits everyone. Every situation is different and your policy should reflect that. These are some specific questions may help highlight whether you would benefit from professional advice.
- Does my liability insurance cover pulling a trailer or camper?
- Do I need roadside assistance coverage?
- Do I benefit by insuring my home with the same company?
- What happens if I owe more than my vehicle is worth?
- Should I file a claim if it’s only slightly more than my deductible?
- Can I afford to buy a different vehicle if my vehicle is totaled?
If you don’t know the answers to these questions but you know they apply to you, you may need to chat with a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier
Additional detailed information can be read at the Idaho Department of Insurance website. Idaho consumers can file complaints about a company, learn about insurance regulations, and read enforcement actions against agents and companies.
Best coverage at the best price
Cheap auto insurance can be bought online as well as from insurance agents, so you should compare both to have the best chance of lowering rates. Some companies do not provide the ability to get quotes online and usually these regional insurance providers provide coverage only through local independent agencies.
You just learned a lot of ways to lower your auto insurance rates. The most important thing to understand is the more rate comparisons you have, the better likelihood of getting . You may even discover the best price on auto insurance is with an unexpected company. Some small companies can often insure niche markets at a lower cost than their larger competitors like State Farm or Progressive.