Wasting Money on Auto Insurance in Stephenville? Here’s How to Save!

Have you had enough of being strong-armed to buy car insurance? You’re in the same situation as millions of other consumers.

With consumers having so many choices, it’s nearly impossible to pick the cheapest provider.

Buying car insurance in Stephenville is not that difficult. If you currently have a car insurance policy, you stand a good chance to be able to cut costs considerably using these tips. Nevertheless, Texas car owners can benefit from knowing the methods companies use to determine prices because it can help you find the best coverage.

Decisions you make can impact your rates

It’s important that you understand the rating factors that go into determining auto insurance rates. Having a good understanding of what determines base rates empowers consumers to make smart changes that could result in lower auto insurance prices.

Listed below are a partial list of the pieces used by your company to calculate premiums.

  • Theft deterrents lower rates – Purchasing a vehicle with an alarm system can get you a discount on your auto insurance. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your vehicle from being stolen.
  • How credit affects auto insurance rates – Your credit score is a important factor in your rate calculation. So if your credit history is lower than you’d like, you could save money insuring your by repairing your credit. Consumers who have high credit scores tend to be less risk to insure than those with poor credit.
  • Your auto insurance rates can be influenced by your job – Did you know your occupation can influence how much you pay for auto insurance? Careers like lawyers, executives and accountants tend to have higher rates than average in part from job stress and lengthy work days. On the flip side, jobs such as scientists, athletes and homemakers receive lower rates.
  • Higher deductibles cost less – Physical damage deductibles represent how much money you are required to spend out-of-pocket in the event of a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some instances where coverage would apply are colliding with a building, vandalism, and rolling your vehicle. The higher the amount you are required to pay out-of-pocket, the less your auto insurance will be.
  • Men fork out a little more – Statistics have proven that women are safer drivers than men. However, this does not mean women are better drivers. Both sexes have accidents at about the same rate, but the men have costlier accidents. Men also statistically get cited for more serious violations like DUI and reckless driving. Young males are the most expensive to insure and are penalized with high auto insurance rates.
  • How many coverages with the same company – Some insurance companies give discounts to people who buy several policies from them, otherwise known as a multi-policy discount. If you currently are using one company, it’s still a good idea to comparison shop to ensure the best deal. Drivers may still find a better deal by buying auto insurance from a different company.

Cut your auto insurance rates with discounts

Auto insurance companies don’t always list every available discount in an easy-to-find place, so here is a list some of the more common as well as the least known auto insurance savings.insurance quote Texas

  • More Vehicles More Savings – Insuring multiple cars or trucks on one policy could earn a price break for each car.
  • Safe Drivers – Safe drivers can pay as much as 50% less than less cautious drivers.
  • Service Members Pay Less – Being on active duty in the military may qualify for rate reductions.
  • Auto/Life Discount – Some companies give a break if you buy life insurance.
  • Low Mileage Discounts – Keeping the miles down could be rewarded with discounted rates on garaged vehicles.

It’s important to note that most credits do not apply to the entire policy premium. Most cut specific coverage prices like liability, collision or medical payments. So when the math indicates you could get a free auto insurance policy, companies don’t profit that way.

Can you really save $383 a year?

Auto insurance providers like Progressive, GEICO, Allstate and State Farm continually stream television and radio advertisements. They all make an identical promise about savings after switching to them. But how can every company claim to save you money? This is how they do it.

All the different companies are able to cherry pick for the type of driver that earns them a profit. For example, a desirable insured could be between 25 and 40, owns a home, and drives less than 7,500 miles a year. A driver that hits that “sweet spot” will qualify for the lowest rates and therefore will save quite a bit of money when switching.

Drivers who fall outside the requirements must pay a more expensive rate which leads to business not being written. The ads say “people who switch” but not “drivers who get quotes” save that much money. That’s the way insurance companies can confidently state the savings. This illustrates why it’s extremely important to get quotes from several different companies. It’s just too difficult to predict which auto insurance company will fit your personal profile best.

More tips and info about auto insurance can be found at the Texas Department of Insurance website. Texas drivers can find out industry alerts, read industry bulletins, and file complaints about an insurance agent or broker.

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One last thing

When trying to cut insurance costs, you should never skimp on coverage in order to save money. There are many occasions where an insured dropped liability coverage limits only to regret that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to purchase plenty of coverage at a price you can afford.

In this article, we covered a lot of information how to lower your auto insurance rates. It’s most important to understand that the more companies you get rates for, the better likelihood of reducing your rate. You may be surprised to find that the lowest rates come from a smaller regional carrier. Regional companies may have significantly lower rates on certain market segments as compared to the big name companies such as Allstate, GEICO and Progressive.

Cheaper auto insurance is attainable from both online companies in addition to many Stephenville insurance agents, and you need to price shop both in order to have the best chance of saving money. There are still a few companies who do not provide you the ability to get quotes online and these small insurance companies work with independent agents.