Pricey auto insurance can bottom out your monthly budget and make it hard to pay other bills. Shopping your coverage around can save money and help to make sure you’re not throwing money away.
Choosing the best insurance company for you in Bonney Lake is not that difficult. If you have car insurance now, you stand a good chance to be able to lower your premiums substantially using these tips. Washington consumers just need to understand the most efficient way to find the lowest price on the web.
Why you might pay higher rates in Bonney Lake
The best way to find cheaper auto insurance is to take a look at the factors that help determine the price you pay for auto insurance. When you know what positively or negatively controls the rates you pay, this helps enable you to make changes that can earn you better auto insurance rates.
The itemized list below are some of the things auto insurance companies consider when setting prices.
- Amount of liability coverage – Your policy’s liability coverage is the coverage that protects you if ever you are found liable for personal injury or accident damage. It provides legal defense coverage which can cost thousands of dollars. Liability insurance is quite affordable when compared with rates for comp and collision, so drivers should buy more than the minimum limits required by law.
- Choose high safety ratings and save – Vehicles with good safety scores tend to have better insurance rates. Safer cars reduce the chance of injuries and fewer injuries translates into savings for insurance companies and more competitive rates for policyholders.
- Influences performance influences auto insurance costs – The performance level of the car, truck or SUV you need to insure makes a big difference in the rate you pay. The cheapest rates are usually found on smaller low performance passenger cars, but many other things help determine your insurance rates.
- Traffic violations can be expensive – Being a careful driver influences premium rates substantially. Only having one citation could increase your next policy renewal twenty percent or more. Good drivers get better rates as compared to those with violations. People who have severe violations such as DUI or willful reckless driving may find that they have to to prove financial responsibility with the DMV in their state in order to prevent their license from being revoked.
- Younger drivers pay more – Inexperience drivers are statistically proven to be more careless behind the wheel so auto insurance rates are higher. If you’ve ever had to add a teenage driver onto a policy can be very expensive. Older drivers tend to be more responsible, tend to cause fewer accidents and get fewer tickets.
- Deter theft and pay less – Choosing to buy a car that has an advanced theft prevention system can help lower your rates. Theft prevention devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack all aid in stopping car theft and help bring rates down.
Take policy discounts and save
Car insurance companies do not list all possible discounts in a way that’s easy to find, so we took the time to find both the well known and also the lesser-known discounts that you can inquire about if you .
- Seat Belt Usage – Forcing all vehicle occupants to use their safety belts can save 10% or more on the premium charged for medical payments and/or PIP.
- Auto/Life Discount – Companies who offer life insurance give a discounted premium rate on car insurance if you buy a life policy as well.
- Driver Safety – Taking part in a course teaching driver safety skills can save you 5% or more and easily pay for the cost of the class.
- 55 and Retired – If you’re over the age of 55, you are able to get reduced rates.
- Safe Drivers – Safe drivers could pay up to 40% less than drivers with accident claims.
A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. Some only reduce specific coverage prices like comprehensive or collision. If you do the math and it seems like having all the discounts means you get insurance for free, you’re out of luck. Any amount of discount should definitely cut your policy premium.
A list of auto insurance companies and a partial list of their discounts are detailed below.
- Geico may offer discounts for good student, membership and employees, anti-theft, anti-lock brakes, and air bags.
- Auto-Owners Insurance has discounts for company car, anti-lock brakes, good student, multiple vehicles, anti-theft, and group or association.
- American Family offers premium reductions for early bird, TimeAway discount, accident-free, Steer into Savings, defensive driver, and mySafetyValet.
- Esurance includes discounts for homeowner, DriveSense, multi-policy, renters, good student, and Switch & Save.
- Progressive may include discounts for multi-policy, online quote discount, online signing, good student, homeowner, continuous coverage, and multi-vehicle.
- State Farm offers discounts including accident-free, good student, Drive Safe & Save, good driver, and multiple policy.
- AAA policyholders can earn discounts including AAA membership discount, anti-theft, good student, good driver, education and occupation, and multi-policy.
If you are trying to find , ask every insurance company which credits you are entitled to. Some of the discounts discussed earlier may not apply in Bonney Lake. To see a list of providers that offer some of these discounts in Washington, click here to view.
Which policy gives me the best coverage?
When choosing coverage, there really is not a perfect coverage plan. Every insured’s situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight whether you might need professional guidance.
- What if I don’t agree with a claim settlement offer?
- Is my cargo covered for damage or theft?
- When should I remove comp and collision on my vehicle?
- Can I afford to pay high deductible claims out of pocket?
- Does my policy cover me when driving someone else’s vehicle?
- Is there coverage for injuries to my pets?
- Should I have combined single limit or split liability limits?
If you can’t answer these questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.
Additional detailed information can be read at the Washington State Office of the Insurance Commissioner website. Visitors are able to learn about specific coverages, download brochures, and view agent and company licensing information.
Compare but don’t skimp
When buying insurance coverage, don’t be tempted to skimp on critical coverages to save a buck or two. There have been many cases where someone dropped liability coverage limits only to find out that they should have had better coverage. Your goal is to get the best coverage possible at the lowest possible cost, but do not skimp to save money.
Cheaper auto insurance can be found online and with local Bonney Lake insurance agents, and you need to price shop both to have the best chance of lowering rates. Some insurance companies do not offer online price quotes and most of the time these smaller companies work with local independent agents.