Overpriced auto insurance can take a big chunk out of your checking account and put the squeeze on your family’s finances. Shopping your coverage around is a smart way to slash your bill and have more diposable income.
Numerous car insurance companies battle to insure your vehicles, so it’s not easy to compare every provider and get the definite lowest price
It’s a good habit to do rate comparisons before your policy renews because insurance rates fluctuate regularly. Even if you got the lowest price a few years ago you can probably find a lower rate today. Starting right now, forget all the misinformation about auto insurance because you’re going to learn the easiest way to properly buy coverages and cut your premium.
How to Buy Hailey Auto Insurance Online
Effectively comparing auto insurance prices is a ton of work if you don’t utilize the easiest way. You could spend the better part of a day driving to insurance agencies in Hailey, or you could save time and use the internet to maximize your effort.
All the larger companies participate in an industry program where insurance shoppers send in one quote, and every company can provide price quotes based on that information. This eliminates the need for repetitive form submissions for each company you want a rate for.
To find out what other companies charge click here to start a free quote.
The single downside to using this type of system is you can’t choose which carriers you want pricing from. So if you want to choose specific insurance companies to receive pricing from, we have a listing of low cost auto insurance companies in Idaho. View list of Idaho insurance companies.
Which method you use is up to you, but double check that you are using apples-to-apples coverage limits and deductibles with every price quote. If your comparisons have higher or lower deductibles it will be impossible to make an equal comparison in Hailey. Quoting even small variations in insurance coverages may result in a large different in cost. It’s important to know that quoting more helps locate a better price.
Can you really save $417 a year?
Companies like Geico, State Farm and Progressive consistently run ads in print and on television. All the ads say the same thing that you can save if you change your coverage to them. But how can every company say the same thing? It’s all in the numbers.
All the different companies can use profiling for the driver that is profitable for them. An example of a desirable insured might be profiled as over the age of 40, insures multiple vehicles, and chooses high deductibles. A customer getting a price quote that hits that “sweet spot” will get very good rates and is almost guaranteed to pay quite a bit less when switching companies.
Consumers who are not a match for the “perfect” profile must pay a more expensive rate and this can result in business not being written. The ads say “customers that switch” not “everyone that quotes” save that much. That is how companies can advertise the savings. This illustrates why you need to compare as many rates as you can. It is impossible to predict which insurance companies will give you the biggest savings.
Don’t miss these 5 discounts
Auto insurance companies don’t always list all their discounts in an easy-to-find place, so we break down some of the more common and the harder-to-find savings tricks you should be using.
- Multi-policy Discount – When you have multiple policies with one company you will save at least 10% off all policies.
- Passive Restraint Discount – Vehicles equipped with air bags or motorized seat belts can qualify for discounts up to 30%.
- Lower Rates for Military – Being on active duty in the military could be rewarded with lower premiums.
- Homeowners Savings – Owning a house in Hailey can help you save on auto insurance because maintaining a house demonstrates responsibility.
- Anti-theft Discount – Cars that have factory anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
It’s important to note that some of the credits will not apply to your bottom line cost. The majority will only reduce specific coverage prices like liability, collision or medical payments. Just because it seems like you can get free auto insurance, companies wouldn’t make money that way.
More tips and info about auto insurance is located at the Idaho Department of Insurance website. Consumers can find disaster information, read consumer alerts, and file complaints about an insurance agent or broker.
Auto insurance coverages
Knowing the specifics of your policy can help you determine which coverages you need and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages found on most auto insurance policies.
Comprehensive protection
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as vandalism, theft and fire damage. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Liability auto insurance
Liability insurance protects you from damage or injury you incur to a person or their property by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000.
Liability coverage protects against claims like court costs, loss of income, bail bonds, funeral expenses and legal defense fees. How much liability should you purchase? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford. Idaho requires minimum liability limits of 20,000/50,000/15,000 but you should consider buying more liability than the minimum.
Medical expense coverage
Medical payments and Personal Injury Protection insurance pay for bills for hospital visits, surgery and ambulance fees. They are often used to fill the gap from your health insurance program or if there is no health insurance coverage. Coverage applies to all vehicle occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay
Uninsured or underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your vehicle.
Because many people only carry the minimum required liability limits (which is 20/50/15), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Auto collision coverage
This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision coverage pays for claims such as sideswiping another vehicle, crashing into a building and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Another option is to increase the deductible to save money on collision insurance.
More effort can pay off
As you shop your coverage around, never buy lower coverage limits just to save a few bucks. There are many occasions where an insured cut uninsured motorist or liability limits only to regret at claim time that their decision to reduce coverage ended up costing them more. Your aim should be to purchase plenty of coverage at the best price, not the least amount of coverage.
The cheapest auto insurance is attainable from both online companies in addition to many Hailey insurance agents, and you should be comparing both so you have a total pricing picture. Some insurance companies do not provide online quoting and usually these smaller companies provide coverage only through local independent agents.