Are you overwhelmed by the number of car insurance company choices in Mustang? Many other consumers are too. You have so many choices that it can easily become more work than you anticipated to find better rates.
It’s a good idea to get comparison quotes at least once a year due to the fact that insurance rates are usually higher with each renewal. If you had the best rates a year ago the chances are good that you can find a lower rate today. Starting right now, forget anything you know (or think you know) about car insurance because it’s time to teach you the right way to save money, get proper coverage and the best rates.
Finding affordable coverage in Mustang is easy if you know what you’re doing. If you have car insurance now, you will most likely be able to save some money using these tips. Nevertheless, Oklahoma consumers do need to understand the methods companies use to sell insurance online.
Are you getting all your discounts?
Companies that sell car insurance don’t always advertise all their discounts in a way that’s easy to find, so we break down some of the more common as well as the least known savings tricks you should be using.
- Air Bag Discount – Vehicles equipped with air bags or motorized seat belts can qualify for discounts of up to 25% or more.
- Senior Discount – Mature drivers can possibly qualify for better car insurance rates.
- Theft Prevention System – Vehicles with anti-theft systems prevent vehicle theft and earn discounts up to 10%.
- Use Seat Belts – Buckling up and requiring all passengers to wear their seat belts could save 15% off your PIP or medical payments premium.
- Sign Online – A few companies give back up to $50 simply for signing over the internet.
- Pay Now and Pay Less – If you pay your bill all at once instead of paying each month you could save 5% or more.
- Multiple Cars – Buying insurance for all your vehicles on one policy could earn a price break for each car.
It’s important to note that most credits do not apply to your bottom line cost. Most cut the price of certain insurance coverages like comp or med pay. So despite the fact that it appears it’s possible to get free car insurance, you won’t be that lucky.
Understand what determines the rate you pay
It’s important that you understand the rating factors that come into play when calculating the price you pay for car insurance. Having a good understanding of what influences your rates enables informed choices that may reward you with lower car insurance prices.
The list below includes some of the items car insurance companies consider when setting rates.
- Performance influences rates – The performance of the car you drive makes a significant difference in how high your rates are. The lowest rates are usually for lower performance four cylinder passenger cars, but the cost you end up paying is determined by many additional factors.
- Traffic violations increase rates – Careful drivers get better rates than bad drivers. Even a single speeding ticket can boost insurance rates by as much as thirty percent. Drivers with serious tickets like reckless driving, hit and run or driving under the influence are required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
- Liability insurance protects assets – Liability insurance is the coverage that protects you when you are found to be at fault for damages caused by your negligence. Liability insurance provides legal defense up to the limits shown on your policy. Liability insurance is quite affordable compared to physical damage coverage, so drivers should carry high limits.
- High crash test scores lower rates – Cars with high safety ratings can get you lower premiums. Safer cars have better occupant injury protection and better occupant protection means lower claim amounts and thus lower rates.
Can switching companies really save?
Companies like State Farm and Allstate constantly bombard you with television and radio advertisements. All the ads have a common claim of big savings if you switch your coverage to them. But how can every company claim to save you money?
All companies have a certain “appetite” for the type of driver that makes them money. For example, a desirable insured might be between the ages of 30 and 50, is a homeowner, and chooses high deductibles. A propective insured who matches those parameters receives the best rates and is almost guaranteed to pay quite a bit less when switching companies.
Potential insureds who are not a match for the requirements will have to pay a higher premium which leads to the driver buying from a lower-cost company. The ad wording is “drivers who switch” not “everyone that quotes” save that much. That’s why insurance companies can advertise the savings. Because of the profiling, drivers must get quotes from several different companies. It is impossible to predict which insurance companies will provide you with the cheapest rates.
Some additional reading
More detailed Oklahoma car insurance information is available at the Oklahoma Insurance Department website. Oklahoma consumers can read state legal mandates and laws, file complaints about an insurance agent or broker, and find out industry alerts.
Other related articles:
- 8 Excellent Ways to Slash Ford Mustang Insurance Cost in Nevada
- How to Find the Lowest Price for Ford Mustang Insurance in Ohio
- Quick Guide to Buying Coverage Online for a Ford Mustang
Summing up your car insurance search
People change insurance companies for any number of reasons including policy cancellation, poor customer service, an unsatisfactory settlement offer and even delays in paying claims. No matter why you want to switch, finding a great new company is pretty simple and you could end up saving a buck or two.
You just read many ways to lower your car insurance rates. The key concept to understand is the more providers you compare, the better chance you’ll have of finding lower rates. You may even discover the lowest priced car insurance comes from the least-expected company.
Discount car insurance is attainable on the web and also from your neighborhood Mustang agents, and you need to comparison shop both to have the best selection. A few companies may not provide the ability to get a quote online and these small insurance companies work with independent agents.