Are you sick and tired of robbing Peter to pay Paul each month for car insurance? You’re in the same situation as many other Florida consumers.
Companies like GEICO, Farmers Insurance and State Farm all claim big savings with fancy advertisements and it is challenging if not impossible to ignore the flashy ads and do the work needed to find the best deal.
It is always a good idea to compare prices every six months because insurance rates are usually higher with each renewal. If you had the lowest rates two years ago a different company probably has better rates today. Forget all the misinformation about auto insurance because we’re going to demonstrate one of the quickest ways to save money, get proper deductibles and limits, all at the lowest rate.
How to Lower Your Auto Insurance Cost in Daytona Beach
To find the best auto insurance prices, there are several ways to compare rate quotes from auto insurance companies in your area. The recommended way to compare insurance prices consists of obtaining rate quotes online. This can be done in several different ways.
The recommended way to get quotes is a comparison rater form like this one (opens in new window). This method keeps you from doing separate quotation requests for each company. A single form compares rates .
Another way to obtain and compare quotes online is spending the time to visit the website for each individual company to complete their respective quote request forms. For instance, let’s assume you want rates from Liberty Mutual, State Farm and Farmers. You would have to take the time to go to each site to enter your coverage information, which is why the first method is more popular.
For a list of links to insurance companies in Daytona Beach, click here.
Which method you use is up to you, but double check that you are using the exact same coverages and limits with each company. If the quotes have unequal deductibles or liability limits it will be impossible to find the best deal in Daytona Beach. Slightly different limits may cause a big price difference. And when comparison shopping, comparing a large number of companies helps you find the best price.
Don’t miss these discounts
Car insurance companies do not list every discount very clearly, so we break down some of the best known and the harder-to-find savings tricks you should be using.
- Theft Prevention Discount – Vehicles with anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
- Multiple Cars – Buying coverage for all your vehicles on one policy can get a discount on all vehicles.
- Service Members Pay Less – Having a deployed family member can result in better rates.
- Federal Government Employee – Being employed by or retired from a federal job may qualify you for a discount with certain companies.
- Good Students Pay Less – Performing well in school can earn a discount of 20% or more. The good student discount can last up to age 25.
- Life Insurance Discount – Larger companies have a discount if you purchase auto and life insurance together.
- Memberships – Being a member of a professional or civic organization could qualify you for a break when shopping for auto insurance.
- Drive Safe and Save – Insureds without accidents can get discounts for up to 45% lower rates than drivers with accidents.
It’s important to note that many deductions do not apply to all coverage premiums. Most only apply to the cost of specific coverages such as liability, collision or medical payments. So when the math indicates you would end up receiving a 100% discount, auto insurance companies aren’t that generous.
To choose providers who offer auto insurance discounts in Daytona Beach, follow this link.
When might I need help?
When choosing the right insurance coverage, there is no perfect coverage plan. Each situation is unique so your insurance should reflect that For instance, these questions can aid in determining whether you might need an agent’s assistance.
- Why am I required to get a high-risk car insurance policy?
- Do I need roadside assistance coverage?
- What if I total my vehicle and owe more than it’s worth?
- When should I drop full coverage on my vehicle?
- Why is insurance for a teen driver so high in Daytona Beach?
- Am I covered when delivering products for my home-based business?
- Can I rate high risk drivers on liability-only vehicles?
- Does my policy cover me when driving someone else’s vehicle?
If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier
Decisions you make can impact your rates
Consumers need to have an understanding of the factors that help determine your auto insurance rates. Understanding what impacts premium levels helps enable you to make changes that could result in lower auto insurance prices.
The following are some of the factors that factor into premiums.
- Choose a safe vehicle and save – Cars with high safety ratings are cheaper to insure. The safest vehicles protect occupants better and better occupant protection translates into fewer and smaller insurance claims and thus lower rates.
- Traffic citations inflate rates – Only having one citation can increase rates by as much as thirty percent. Good drivers tend to pay less for car insurance compared to drivers with tickets. Drivers with flagrant tickets like DWI, reckless driving or hit and run convictions are required to submit a SR-22 or proof of financial responsibility with their state DMV in order to keep their license.
- Consolidate policies to earn discounts – Most companies provide better rates to people who buy several policies from them such as combining an auto and homeowners policy. Discounts can be anywhere from five to ten percent in most cases. Even if you’re getting this discount it’s in your best interest to comparison shop to ensure the best deal. You may still be able to find better rates by insuring with multiple companies.
- Policy add-ons can waste money – There are a lot of add-on coverages that you can buy on your auto insurance policy. Things like vanishing deductibles, towing coverage and motor club memberships may be wasting your money. These coverages may sound good when talking to your agent, but if you don’t need them remove them from your policy.
Ads can be misleading
Auto insurance providers like State Farm and Allstate constantly bombard you with ads on television and other media. They all have a common claim that you’ll save big if you switch to their company. How can each company claim to save you money?
Insurance companies have a certain “appetite” for the right customer that is profitable for them. A good example of a desirable insured could possibly be between 25 and 40, is a homeowner, and has a high credit rating. A driver who fits that profile gets the lowest rates and most likely will save a lot of money.
Consumers who are not a match for the “perfect” profile must pay more money and this can result in business going elsewhere. Company advertisements say “customers who switch” not “everyone that quotes” save that kind of money. That is how companies can truthfully make those claims. This illustrates why drivers must quote coverage with many companies. You cannot predict the company that will have the lowest rates.
In the end, you save
When trying to cut insurance costs, you should never skimp on critical coverages to save a buck or two. In many cases, someone dropped comprehensive coverage or liability limits only to discover later they didn’t have enough coverage. Your goal should be to find the BEST coverage at an affordable rate while still protecting your assets.
We just covered a lot of techniques to shop for auto insurance online. The key concept to understand is the more you quote, the higher your chance of finding lower rates. Consumers may even find the best prices are with an unexpected company. These smaller insurers may have significantly lower rates on certain market segments than the large multi-state companies such as GEICO and State Farm.
The cheapest auto insurance is definitely available both online as well as from independent agents in Daytona Beach, and you need to comparison shop both in order to have the best price selection to choose from. There are still a few companies who don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.
Online resources for education
More detailed Florida auto insurance information is located at the Florida Office of Insurance Regulation website. Visitors are able to view a list of available companies, read consumer alerts, and discover disciplinary actions.