Wasting Money on Auto Insurance in Cumberland, MD? Here’s How to Save!

Sick and tired of trying to scrape together enough money each month for car insurance? You’re in the same situation as many other Maryland drivers.

Many insurers vie for your insurance dollar, and because of this it can be hard to compare insurers and uncover the absolute best rate

If you are paying for car insurance now, you should be able to reduce your rates substantially using these techniques. Buying car insurance in Cumberland is quite easy. But Maryland car owners do need to know the way companies sell online and take advantage of how the system works.

Cut your premium with discounts

Insuring your vehicles can cost a lot, but there could be available discounts to help offset the cost. Certain discounts will be applied at the time of purchase, but a few must be asked about prior to getting the savings.

  • Auto/Life Discount – Companies who offer life insurance give lower rates if you buy life insurance from them.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to wear their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Homeowners Savings – Owning a house in Cumberland may trigger a auto insurance policy discount because maintaining a house is proof that your finances are in order.
  • Federal Government Employee – Active or retired federal employment could cut as much as 10% off depending on your company.
  • Claim Free – Drivers with accident-free driving histories can save substantially as compared to frequent claim filers.
  • Multiple Cars – Buying insurance for all your vehicles on one policy qualifies for this discount.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and will save you 10% or more.
  • Military Rewards – Having a family member in the military can result in better rates.

A little note about advertised discounts, many deductions do not apply to all coverage premiums. Some only apply to the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like having all the discounts means you get insurance for free, you’re out of luck. Any qualifying discounts will reduce your premiums.

Ads can be misleading

Allstate and Progressive consistently run television and radio advertisements. All the companies have a common claim about savings if you change to them. How does each company make the same claim?Cumberland MD insurance comparisons

All the different companies have a certain “appetite” for the driver that earns them a profit. For example, a preferred risk could possibly be between 25 and 40, a clean driving record, and has excellent credit. Any new insured who matches those parameters is entitled to the best price and as a result will probably cut their rates substantially.

Potential insureds who don’t meet these standards will be charged a more expensive rate and this can result in business not being written. The ads say “drivers who switch” not “people who quote” save that much money. That’s why insurance companies can confidently claim big savings.

That is why you absolutely need to get as many comparisons as possible. You cannot predict which auto insurance company will provide you with the cheapest rates.

Learn more about Maryland auto insurance

Much more information about auto insurance in Maryland is available on the website for the Maryland Insurance Administration located here. Consumers can report car insurance fraud, read enforcement actions against agents and companies, find a variety of consumer forms, and view agent and company licensing information.

More related Cumberland auto insurance information:

Cumberland MD insurance comparisons

One last thing

We covered quite a bit of information on how to reduce auto insurance prices online. The key concept to understand is the more companies you get rates for, the better likelihood of reducing your rate. Consumers could even find that the lowest premiums are with a company that doesn’t do a lot of advertising. These smaller insurers may cover specific market segments cheaper than their larger competitors like Progressive and GEICO.

Low-cost auto insurance can be found both online and also from your neighborhood Cumberland agents, and you should be comparing both to have the best selection. There are still a few companies who may not provide online price quotes and many times these smaller companies only sell through independent insurance agents.

When you buy insurance online, do not skimp on critical coverages to save a buck or two. There are many occasions where someone dropped liability limits or collision coverage only to regret at claim time that the few dollars in savings costed them thousands. Your strategy should be to purchase plenty of coverage at a price you can afford, not the least amount of coverage.