Expensive auto insurance can take a big chunk out of your funds and force you to cut corners elsewhere. Price shopping at each renewal is an excellent way to reduce premiums and put more money in your pocket.
Due to the abundance of companies to choose from, it’s difficult to pick the cheapest insurance company.
Pricing the cheapest coverage in West Plains is quite easy. Just about every vehicle owner who has to buy auto insurance stands a good chance to be able to lower their premiums. But Missouri drivers do need to understand how big insurance companies determine prices.
Learn how to buy auto insurance more affordably
Smart consumers have a good feel for some of the elements that are used to determine your auto insurance rates. If you have some idea of what controls the rates you pay, this enables you to make decisions that may reward you with lower rates.
Listed below are some of the things auto insurance companies consider when setting your prices.
- How much liability protection – Your policy’s liability coverage will protect you if ever you are found to be at fault for damages from an accident. Liability provides legal defense up to the limits shown on your policy. This coverage is very inexpensive compared to comp and collision, so insureds should have plenty of protection for their assets.
- Stress out and pay more – Occupational choices like military generals, social workers and dentists usually pay the highest rates attributed to intense work-related stress and long work hours. On the other hand, jobs such as professors, historians and homemakers have lower than average premiums.
- Get married and pay less – Walking down the aisle can get you a discount on your auto insurance policy. Marriage demonstrates that you tend to be more mature than a single person and it’s statistically proven that married couples file fewer claims.
- More performance means more cost – The performance level of the vehicle you own makes a substantial difference in determining your rates. Low performance passenger cars usually are quite affordable to insure, but the cost you end up paying is determined by many additional factors.
- Cars with good safety ratings cost less to insure – Safe vehicles can get you lower premiums. These vehicles have better occupant injury protection and reduced instances of injuries means lower claim amounts and cheaper rates on your policy. If your vehicle has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
Don’t miss these rate-reducing discounts
Some insurers don’t list every possible discount very clearly, so the below list has a few of the more common in addition to some of the lesser obvious credits that you can use to lower your rates.
- Passive Restraints – Options like air bags or motorized seat belts may qualify for discounts up to 30%.
- Seat Belts Save – Forcing all vehicle occupants to buckle up can save 10% or more off the personal injury premium cost.
- West Plains Homeowners Discount – Owning a home in West Plains can save a few bucks since owning and maintaining a home is proof that your finances are in order.
- Good Student – Excelling in school can be rewarded with saving of up to 25%. The good student discount can last up to age 25.
- No Charge for an Accident – This isn’t a discount exactly, but a few companies such as GEICO and Liberty Mutual will turn a blind eye to one accident before they charge you more for coverage if you have no claims for a set time period.
- Telematics Data – West Plains drivers who agree to allow their insurance company to look at their driving habits remotely such as State Farm’s In-Drive might see lower rates if they have good driving habits.
- ABS Brakes – Cars and trucks with anti-lock braking systems are much safer to drive and qualify for as much as a 10% discount.
- Discounts for Government Workers – Employees or retirees of the government can earn a discount up to 10% with select insurance companies.
Consumers should know that some of the credits will not apply to the entire cost. Some only reduce the cost of specific coverages such as comp or med pay. Just because it seems like all those discounts means the company will pay you, company stockholders wouldn’t be very happy. But any discount will bring down your policy premium.
Companies and their possible discounts are:
- AAA offers premium reductions for education and occupation, good student, good driver, AAA membership discount, pay-in-full, anti-theft, and multi-policy.
- Progressive has discounts for good student, continuous coverage, online signing, multi-policy, and multi-vehicle.
- State Farm may have discounts that include multiple autos, anti-theft, accident-free, defensive driving training, driver’s education, and Steer Clear safe driver discount.
- Esurance has savings for paid-in-full, claim free, anti-lock brakes, homeowner, Switch & Save, and DriveSense.
- Nationwide includes discounts for multi-policy, defensive driving, easy pay, good student, accident-free, Farm Bureau membership, and family plan.
When quoting, ask all the companies which discounts you qualify for. Some of the discounts discussed earlier may not be available in your state. To choose companies with discount auto insurance rates in Missouri, click here.
Do I need special coverages?
When it comes to choosing coverage, there really is not a perfect coverage plan. Everyone’s situation is unique so your insurance needs to address that. For instance, these questions may help you determine whether your personal situation might need an agent’s assistance.
- What are Missouri no-fault laws?
- Do I need medical payments coverage since I have good health insurance?
- Are all vehicle passengers covered by medical payments coverage?
- Am I covered when driving in Canada or Mexico?
- Do I have any recourse if my insurance company denies a claim?
- Am I covered when driving a rental car?
If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area.
More information can be found on the Missouri Department of Insurance website found here. Missouri consumers can report car insurance fraud, view agent and company licensing information, find out industry alerts, and find out which companies have the most complaints.
You can find cheaper coverage
A few companies do not offer the ability to get a quote online and many times these regional carriers prefer to sell through independent insurance agencies. Cheap auto insurance can be bought both online as well as from insurance agents, and you should be comparing both to have the best chance of lowering rates.
You just read many ways to save on auto insurance. The key concept to understand is the more you , the higher your chance of finding . Consumers could even find that the best price on auto insurance is with a company that doesn’t do a lot of advertising. These companies may often insure only within specific states and give getter rates than their larger competitors like GEICO and State Farm.