No one in their right mind looks forward to paying premiums for car insurance, especially when they know they are paying too much. Having so many insurance companies to choose from, it can be impossible to find the right car insurance provider.
You should make it a habit to do price comparisons before your next renewal due to the fact that insurance prices go up and down regularly. If you had the lowest rate a few years ago there is a good chance you can find better premium rates now. Forget all the misinformation about car insurance because you’re going to learn one of the best ways to save on car insurance.
How to lower your car insurance cost in Newport
Shopping for lower car insurance rates can be a lot of work if you aren’t aware of the fastest way to get free quotes. You could spend the better part of a day talking to agents in Newport, or you could use the internet to get rate comparisons in just a few minutes.
Many popular insurance companies participate in a marketplace that enables customers to only type in their quote data once, and each participating company then gives them pricing based on that information. This prevents consumers from doing quote requests to every company. To compare rates using this form now click here to open in new window.
The single downside to using this type of system is that consumers can’t choose the companies you want to price. If you would rather choose specific providers to compare prices, we have assembled a list of companies who write car insurance in Arkansas. Click to view list.
Whichever way you choose to compare rates, make sure you compare equivalent coverage information on every quote. If the quotes have different limits and deductibles on each one it’s impossible to make a fair comparison in Newport.
But they said I’d save $495 a year!
Consumers can’t escape the ads that claim the cheapest auto insurance rates from companies such as Allstate and Progressive. They all make an identical promise that you can save after switching to their company.
How is it possible that every company can charge you less for auto insurance? Just pay attention to how they say it.<img class="alignright" style="padding-top:15px;" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-49.jpg" alt="Newport Arkansas auto insurance“/>
Most companies offer their best rates for the right customer that will not have excessive claims. One example of a profitable customer should be between the ages of 30 and 50, has no claims, and drives a lower-performance vehicle. Anyone that matches those criteria will probably get cheap prices and is almost guaranteed to cut their rates substantially.
Insureds who do not match this ideal profile will have to pay higher rates and the customer buying from someone else. If you pay attention, the ads say “people who switch” but not “all drivers who get quotes” save that kind of money. That’s the way insurance companies can confidently claim big savings. This really emphasizes why drivers must compare as many as you can. It’s impossible to know the company that will have the best rates at this point in time.
Choices you make can reduce your rates
Many things are part of the calculation when quoting car insurance. Most are fairly basic like an MVR report, but other criteria are not as apparent like your vehicle usage or your financial responsibility.
- Higher prices for specific employers – Did you know your career choice can influence rates? Careers such as doctors, architects and financial analysts tend to pay higher premiums than the average policyholder because of intense work situations and lots of time spent away from family. Other occupations like farmers, engineers and retirees pay lower than average rates.
- Location can modify price – Residing in less populated areas is a positive aspect when shopping for auto insurance. People in densly populated areas tend to have traffic congestion and more time behind the wheel. Fewer drivers on the road means less chance of accidents in addition to lower liability claims
- Save money by having high credit – Having a good credit rating can be a huge factor in determining what you pay. People that have excellent credit tend to be better risks to insure than drivers who have lower credit ratings. If your credit history is low, you could potentially save money when insuring your vehicle if you improve your credit rating.
- Liability coverage claims can be big – Liability coverage is the coverage that protects you if you are ruled to be at fault for damages from an accident. It will provide legal defense coverage to attempt to prove you were not liable. It is affordable coverage compared to insuring for physical damage coverage, so buy as much as you can afford.
- Lower premiums with theft deterrents – Choosing to buy a car with a theft deterrent system can save you a little every year. Theft deterrent systems such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping auto theft and help lower rates.
- Expect high rates for teens – Older, more experienced drivers are viewed as being more responsible, tend to file fewer claims , and usually have better credit.Teen drivers are statistically shown to be more careless behind the wheel so they pay higher car insurance rates.
More discounts mean lower premiums
Companies that sell car insurance don’t always list every discount very clearly, so below is a list some of the best known and the more hidden discounts you could be receiving when you .
- Theft Deterent – Cars equipped with anti-theft or alarm systems are stolen with less frequency and qualify for as much as a 10% discount.
- Passenger Safety Discount – Factory options such as air bags and/or automatic seat belt systems may earn rate discounts of 25 to 30%.
- Full Payment Discount – If paying your policy premium upfront as opposed to paying monthly you could save 5% or more.
- Good Grades Discount – A discount for being a good student can get you a discount of up to 25%. The discount lasts up to age 25.
- Multi-car Discount – Drivers who insure multiple cars on one policy could earn a price break for each car.
- Drivers Ed for Students – Teen drivers should sucessfully take a drivers education course in school or through a local driver safety program.
As a sidenote, most of the big mark downs will not be given to the entire cost. Most cut the price of certain insurance coverages like liability, collision or medical payments. So even though you would think all those discounts means the company will pay you, that’s just not realistic.
The best car insurance companies and some of the premium reductions they offer include:
- State Farm includes discounts for good driver, defensive driving training, multiple policy, student away at school, accident-free, and passive restraint.
- Farmers Insurance may have discounts that include business and professional, switch companies, early shopping, alternative fuel, teen driver, mature driver, and electronic funds transfer.
- Progressive may offer discounts for continuous coverage, multi-policy, online signing, online quote discount, good student, and multi-vehicle.
- Geico offers premium reductions for membership and employees, air bags, good student, daytime running lights, seat belt use, and anti-lock brakes.
- Auto-Owners Insurance has savings for paid in full, paperless, multiple vehicles, safe vehicle, good student, student away at school, and group or association.
- The Hartford has discounts for defensive driver, vehicle fuel type, anti-theft, air bag, bundle, and driver training.
- Farm Bureau may include discounts for renewal discount, driver training, multi-policy, safe driver, 55 and retired, multi-vehicle, and youthful driver.
- USAA offers discounts for good student, new vehicle, annual mileage, defensive driver, and multi-policy.
When getting a coverage quote, ask every prospective company to apply every possible discount. Some discounts may not be available everywhere.
It’s not one size fits all
When it comes to choosing the right insurance coverage, there is no one size fits all plan. Everyone’s needs are different so this has to be addressed. For instance, these questions can help discover whether or not you may require specific advice.
- Does my vehicle qualify for pleasure use?
- How high should my uninsured/underinsured coverage be in Arkansas?
- Do I really need UM/UIM coverage?
- Am I covered when delivering products for my home-based business?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Do I have coverage if my license is suspended?
- Is Arkansas a no-fault state?
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It’s fast, free and may give you better protection.
Don’t give up on cheaper rates
Cheaper car insurance can be sourced on the web as well as from insurance agents, and you should be comparing both to get a complete price analysis. There are still a few companies who do not provide rates over the internet and usually these regional carriers sell through independent insurance agents.
We just showed you some good ideas how you can reduce car insurance auto insurance rates online. It’s most important to understand that the more price quotes you have, the more likely it is that you will get a better rate. You may even find the biggest savings come from a company that doesn’t do a lot of advertising. These companies can often provide lower premium rates in certain areas than their larger competitors like Allstate and Progressive.
More consumer information in Arkansas
Additional detailed information is located at the Arkansas Insurance Department website. Consumers can file complaints about an insurance agent or broker, read enforcement actions against agents and companies, download brochures, and discover disciplinary actions.
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