No one in their right mind cherishes buying auto insurance, particularly when the cost is too high. Multiple insurers compete for your business, and because of this it can be hard to compare insurance companies and get the definite best rates possible.
You probably qualify for some discounts
Auto insurance companies don’t necessarily list all available discounts very well, so we researched both the well known and the harder-to-find discounts you could be receiving. If you don’t get every credit you deserve, you’re paying more than you need to.
- Senior Discount – If you qualify as a senior citizen, you can possibly qualify for a small decrease in premiums.
- Discount for Swiching Early – A few companies offer discounts for signing up prior to your current policy expiring. The savings is around 10%.
- Resident Student – Any of your kids who are attending college and do not have a car may qualify for this discount.
- Student Driver Training – Have your child take driver’s ed class if it’s offered in school.
- Multiple Vehicles – Buying coverage for multiple vehicles on one policy qualifies for this discount.
- Discounts for Safe Drivers – Safe drivers may receive a discount up to 45% less than drivers with accident claims.
- Military Rewards – Being on active duty in the military could mean lower rates.
- Fewer Miles Equal More Savings – Fewer annual miles could qualify for a substantially lower rate.
- Accident Forgiveness – A handful of insurance companies allow you one accident before your rates go up if your claims history is clear for a certain period of time.
Drivers should understand that most credits do not apply to the entire cost. Most only reduce the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like all those discounts means the company will pay you, it doesn’t quite work that way.
You have some control over your rates
Smart consumers have a good feel for the different types of things that go into determining auto insurance rates. When you know what positively or negatively controls the rates you pay empowers consumers to make smart changes that may reward you with better auto insurance rates.
- Theft deterrents lower rates – Owning a car with a theft deterrent system can save you a little every year. Theft prevention features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent auto theft.
- Multiple policies with one company can save – Most insurers provide better rates to policyholders who buy several policies from them, otherwise known as a multi-policy discount. Even with this discount, you may still want to comparison shop to ensure the best deal. You may still be able to find better rates by splitting coverages up.
- Rate your vehicle for proper use – The more miles you rack up on your car every year the more you’ll pay to insure your vehicle. Most insurance companies charge to insure your cars based on how the vehicle is used. Autos left parked in the garage get more affordable rates than those used for commuting. Make sure your auto insurance policy is showing how each vehicle is driven.
- Increase deductibles and save – Deductibles for physical damage define the amount you are required to spend in the event of a claim. Physical damage coverage, also known as collision and other-than-collision, covers damage that occurs to your car. Some examples of claims that would be covered are running into the backend of another car, damage caused by hail, and windstorm damage. The more money the insured has to pay upfront, the lower your rates will be.
- Do men or women drive better? – Statistics show that women are safer drivers than men. That doesn’t necessarily mean that women are BETTER drivers than men. They both are in accidents in similar percentages, but the males cause more damage. They also have more aggressive citations like DUI and reckless driving. Male drivers age 16 to 19 are most likely to cause an accident and therefore are the most expensive to insure.
- How your age affects price – Youthful drivers in Texas are statistically proven to be more careless behind the wheel so they pay higher auto insurance rates. If you’ve ever had to add a teen driver onto your auto insurance can really hurt. Older drivers are viewed as being more responsible, tend to cause fewer accidents and get fewer tickets.
- Do you have enough liability coverage? – Liability coverage is the coverage that protects you when a jury decides you are liable for causing damage or personal injury in an accident. Liability provides for a legal defense up to the limits shown on your policy. Liability insurance is quite affordable when compared with rates for comp and collision, so drivers should carry high limits.
Some additional reading
Additional detailed information can be found at the Texas Department of Insurance website. Consumers can read industry bulletins, download brochures, and find disaster information.
Other useful links include QuoteClickInsure.com and this link which helps you find a Waxahachie agent.
Buy online or local, you save
We just presented a lot of tips how to lower your auto insurance rates. It’s most important to understand that the more you quote, the better your chances of lowering your rates. Consumers could even find that the best price on auto insurance is with some of the smallest insurance companies. Smaller companies may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.
Discount auto insurance can be purchased online as well as from independent agents in Waxahachie, and you need to price shop both to have the best selection. Some auto insurance companies don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.
As you go through the steps to switch your coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In many instances, an insured cut comprehensive coverage or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. Your focus should be to buy the best coverage you can find at a price you can afford while still protecting your assets.