Paying for high-priced car insurance can drain your bank account and force you to make sacrifices. Doing a price comparison is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.
Since consumers have many insurance providers from which to choose, it can be impossible to choose the cheapest provider.
Many Things Influence your Rates
It’s important that you understand some of the elements that come into play when calculating your car insurance rates. When you know what positively or negatively influences your rates allows you to make educated decisions that may reward you with lower car insurance prices.
- Males pay more for insurance – Statistics demonstrate that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Women and men have accidents at about the same rate, but the male of the species cause more damage. Men also tend to receive more costly citations such as DWI and reckless driving. Teenage male drivers are the most expensive to insure and therefore have the most expensive car insurance rates.
- Is your vehicle built for speed? – The type of car you own makes a big difference in determining your rates. Lower performance four cylinder passenger cars generally have the cheapest insurance rates, but there are many factors that impact the final cost.
- Marriage brings a discount – Getting married actually saves money on car insurance. It translates into being more mature it has been statistically shown that married couples file fewer claims.
- Older drivers save more – More mature drivers are viewed as being more responsible, tend to cause fewer accidents and get fewer tickets. Teen drivers have a tendency to be less responsible when driving therefore car insurance rates are much higher.
- Lower rates with optional equipment – Owning a car that has an advanced theft prevention system can save you a little every year. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent auto theft.
- Small claims can cost you – If you file claims often, you can pretty much guarantee higher rates. Companies in Kentucky provide discounts to drivers who do not file claims often. Insurance coverage is intended for the large, substantial claims.
- Liability coverage protects you – The liability section of your policy will protect you in the event that you are found liable for damages from an accident. It provides legal defense coverage which can cost thousands of dollars. Liability is cheap compared to insuring for physical damage coverage, so do not skimp.
- Low deductibles can be expensive – Your deductibles define the amount you are willing to pay if you file a covered claim. Physical damage insurance, termed comprehensive and collision coverage on your policy, covers damage that occurs to your car. A few examples of covered claims could be running into the backend of another car, collision with an animal, and burglary. The more you have to pay, the less your company will charge you for insurance.
Do you qualify for a discount?
Companies offering auto insurance do not list all available discounts very clearly, so we took the time to find both the well known and the more hidden car insurance savings.
- Low Mileage Discounts – Low mileage vehicles could be rewarded with discounted rates on garaged vehicles.
- Sign Early and Save – A few companies offer discounts for switching policies prior to your current policy expiring. It can save you around 10%.
- Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can avoid accidents and qualify for as much as a 10% discount.
- Seat Belt Usage – Using a seat belt and requiring all passengers to use their safety belts could save 15% on the medical payments or PIP coverage costs.
- Drivers Education – Cut your cost by having your teen driver take driver’s ed class in high school.
- Good Student Discount – Performing well in school can save 20 to 25%. This discount can apply well after school through age 25.
It’s important to understand that most credits do not apply the the whole policy. Most only apply to specific coverage prices like liability and collision coverage. Just because you may think it’s possible to get free car insurance, it doesn’t quite work that way.<img class="alignright" style="padding-top:15px" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-79.jpg" alt="Edgewood KY car insurance prices” />
To choose insurers with discount car insurance rates in Kentucky, click this link.
What coverages do I need?
When it comes to buying the right insurance coverage, there really is no “best” method to buy coverage. Each situation is unique and your policy should reflect that. For instance, these questions may help you determine if your situation could use an agent’s help.
- How high should my medical payments coverage be?
- Can I afford to pay high deductible claims out of pocket?
- What companies insure drivers after a DUI or DWI?
- Does coverage extend to a rental car in a foreign country?
- Does my liability insurance cover pulling a trailer or camper?
- When does my teenage driver need to be added to my policy?
If you don’t know the answers to these questions but you think they might apply to your situation, you might consider talking to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.
For more Kentucky car insurance information
More detailed Kentucky car insurance information can be read at the Kentucky Department of Insurance website. Kentucky consumers can file complaints about a company, file complaints about an insurance agent or broker, read enforcement actions against agents and companies, and read industry bulletins.
Online plus local equals savings
We just presented some good ideas how to save on car insurance. The most important thing to understand is the more rate comparisons you have, the better likelihood of reducing your rate. Drivers may discover the biggest savings come from the least-expected company. Some small companies can often provide lower rates in certain areas than their larger competitors like Allstate and Progressive.
As you shop your coverage around, don’t be tempted to buy less coverage just to save a little money. There are many occasions where drivers have reduced liability coverage limits and learned later that it was a big mistake. Your goal should be to buy a smart amount of coverage at an affordable rate, not the least amount of coverage.
Cheap car insurance can be found online and also from your neighborhood Edgewood agents, and you should compare price quotes from both to have the best selection. Some car insurance companies may not provide you the ability to get quotes online and many times these small, regional companies only sell through independent insurance agents.