Scraping up a payment for overpriced auto insurance can empty your savings account and force you to make sacrifices. Shopping your coverage around is a great way to slash your bill and have more diposable income.
You have multiple auto insurance companies to insure vehicles with, and although it’s nice to have multiple companies, lots of choices makes it harder to locate the cheapest rates.
It’s smart to compare rates occasionally due to the fact that insurance rates are variable and change quite frequently. Just because you had the best price a few years ago there is a good chance you can find better rates now. So just forget all the misinformation about auto insurance because you’re going to get a crash course in one of the best ways to find better rates and still maintain coverage.
Finding the best rates in Ferndale is quite easy. In a nutshell, everyone who buys auto insurance will most likely be able to lower their premiums. But Michigan car owners must understand the methods companies use to market on the web and take advantage of how the system works.
Cut your auto insurance rates with discounts
Companies that sell car insurance don’t always publicize all available discounts very well, so we researched both the well known and the more hidden auto insurance savings.
- Auto/Life Discount – Companies who offer life insurance give a break if you buy life insurance.
- Senior Citizens – If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums.
- Use Seat Belts – Drivers who require all occupants to buckle their seat belts could save 15% on the medical payments or PIP coverage costs.
- Organization Discounts – Being a member of a qualifying organization could trigger savings when buying auto insurance.
- Claim Free – Drivers who don’t have accidents pay much less when compared to accident-prone drivers.
- Lower Rates for Military – Having a family member in the military can result in better rates.
- Safe Driver Discount – Safe drivers can pay as much as 50% less than drivers with accident claims.
- Passive Restraints – Vehicles with factory air bags or motorized seat belts can qualify for discounts of up to 25% or more.
Keep in mind that most discount credits are not given to the entire cost. Some only reduce specific coverage prices like comprehensive or collision. So when it seems like all those discounts means the company will pay you, auto insurance companies aren’t that generous.
For a list of providers who offer auto insurance discounts in Ferndale, click here.
Informed Drivers can Cut Their Rates
An important part of buying insurance is that you know some of the elements that go into determining auto insurance rates. Knowing what determines base rates empowers consumers to make smart changes that will entitle you to big savings.
- Rate your vehicle for proper use – The more you drive every year the more you’ll pay to insure your vehicle. The majority of insurers charge to insure your cars determined by how the vehicle is used. Vehicles that are left in the garage can get a lower rate compared to those used for work or business. Verify your auto insurance policy properly reflects the correct driver usage, because it can save money.
- Drive a safer car and pay less – Cars with high safety ratings get lower rates. Safe vehicles protect occupants better and better occupant protection means lower claim amounts passed on to you as lower rates.
- Lower deductibles cost more – Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of claims that would be covered are running into the backend of another car, damage caused by hail, or theft. Physical damage deductibles are how much you are required to spend in the event of a claim. The more the insured has to pay upfront, the less your auto insurance will be.
- Do men or women drive better? – Statistics demonstrate that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Both sexes are in accidents at about the same rate, but the male of the species cause more damage. Men also tend to have more aggressive citations such as DWI and reckless driving. Male drivers age 16 to 19 are most likely to cause an accident and therefore are the most expensive to insure.
You are unique and your auto insurance should be too
When choosing the best auto insurance coverage for your personal vehicles, there is no perfect coverage plan. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions might point out if your insurance needs would benefit from professional advice.
- Is there coverage for injuries to my pets?
- When should I drop full coverage on my vehicle?
- Can my teen driver be rated on a liability-only vehicle?
- How many claims can I have before being cancelled?
- Does medical payments coverage apply to all occupants?
- Does my policy pay for OEM or aftermarket parts?
- What is high-risk coverage and where do I buy it?
If you can’t answer these questions, you may need to chat with an agent. To find an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area.
To learn even more about auto insurance
Additional detailed information is available at the Michigan Office of Financial and Insurance Regulation website. Michigan drivers can find disaster information, discover disciplinary actions, learn about specific coverages, and read enforcement actions against agents and companies.
Do the work, save more money
You just learned some good ideas how you can save on auto insurance. The key thing to remember is the more companies you get rates for, the better chance you’ll have of finding lower rates. Drivers may discover the lowest premiums are with a small local company. They can often insure niche markets at a lower cost as compared to the big name companies such as State Farm and Allstate.
The cheapest auto insurance is attainable on the web and also from your neighborhood Ferndale agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some auto insurance companies may not provide you the ability to get quotes online and most of the time these smaller companies sell through independent agents.