Are you tired of robbing Peter to pay Paul to buy car insurance? You are in the same boat as the majority of other car owners in Texas.
Big companies like GEICO, 21st Century and Progressive persitently shower you with advertising and it is difficult to see past the corporate glitz and take the time to shop coverage around.
It’s a good idea to price shop coverage once or twice a year because prices are adjusted regularly by insurance companies. Even if you got the best rates for Cooper insurance last year other companies may now be cheaper. So block out anything you think you know about auto insurance because we’re going to show you one of the easiest ways to save on auto insurance.
If you are paying for car insurance now, you should be able to save some money using these methods. Finding affordable coverage is easy if you know what you’re doing. But Texas vehicle owners must know how big insurance companies price online insurance and apply this information to your search.
These discounts can slash auto insurance rates
Companies do not advertise every discount in an easy-to-find place, so we break down both well-publicized as well as the least known discounts you could be receiving.
- Life Insurance – Select insurance companies reward you with a break if you buy auto and life insurance together.
- Payment Method – If you pay your bill all at once rather than paying monthly you may reduce your total bill.
- Defensive Driving Course – Successfully completing a driver safety course can save you 5% or more if you qualify.
- Passive Restraint Discount – Vehicles with factory air bags or motorized seat belts may earn rate discounts of up to 25% or more.
- Employee of Federal Government – Employees or retirees of the government can save as much as 8% for Cooper insurance depending on your company.
- Safe Driver Discount – Insureds without accidents may save up to 50% more for Cooper insurance than drivers with accidents.
- Military Discounts – Having a deployed family member could mean lower rates.
- E-sign – A handful of insurance companies may give you up to $50 for buying a policy and signing up digitally online.
- Multiple Cars – Insuring all your vehicles on the same auto insurance policy may reduce the rate for each vehicle.
- Homeowners Pay Less – Simply owning a home can help you save on auto insurance due to the fact that maintaining a home is proof that your finances are in order.
Consumers should know that most of the big mark downs will not be given to your bottom line cost. Most only apply to the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like adding up those discounts means a free policy, you won’t be that lucky.
For a list of insurers with discount auto insurance rates in Texas, follow this link.
Mini Cooper insurance rates have many determining factors
Smart consumers have a good feel for the factors that go into determining the rates you pay for auto insurance. Understanding what influences your rates enables informed choices that can help you get much lower annual insurance costs.
- High deductibles save money – Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Mini. A few examples of covered claims would be a windshield shattered by a rock, vandalism, or theft. Physical damage deductibles are how much you are willing to pay out-of-pocket if you file a covered claim. The more money you have to pay, the bigger discount you will receive for Cooper insurance.
- Better credit scores mean better rates – Your credit score is a important factor in calculating your auto insurance rates. Drivers with high credit ratings tend to file fewer claims and have better driving records as compared to drivers with poor credit. If your credit score is low, you could potentially save money when insuring your Mini Cooper by improving your rating.
- You might want pay the small claims yourself – If you tend to file frequent claims, you can pretty much guarantee either policy cancellation or increased premiums. Insurance companies in Texas provide lower rates to insureds who do not rely on their insurance for small claims. Your insurance policy is intended for the large, substantial claims.
- Your location affects your rates – Choosing to live in a small town can be a good thing when insuring your vehicles. Lower population means reduced accidents. Drivers in populated Texas areas regularly have much more traffic to deal with and much longer commute distances. Higher commute times means higher likelihood of an accident.
- More than one policy can earn a discount – Most insurance companies will award you with lower prices to insureds who carry more than one policy, otherwise known as a multi-policy discount. Even with this discount, you still need to shop around to verify if the discount is saving money. You may still be able to find better rates by splitting coverages up.
- Men fork out a little more – Statistics demonstrate women tend to be less risk to insure than men. However, this does not mean women are better drivers. Women and men tend to get into accidents at about the same rate, but the males have costlier accidents. They also have more aggressive citations such as reckless driving. Male drivers age 16 to 19 are several times more likely to be in an accident and are penalized with high auto insurance rates.
- Discounts for married couples – Getting married can get you a discount on auto insurance. It means you’re more mature and responsible and it’s statistically proven that married drivers get in fewer accidents.
Don’t listen to company ads
Auto insurance providers like State Farm, GEICO and Progressive continually stream ads on TV and radio. They all say the same thing of big savings after switching to them. How can each company say the same thing?
All the different companies have a certain “appetite” for the type of driver they prefer to insure. For example, a desirable insured might be profiled as a mature driver, has no tickets, and drives newer vehicles. Any driver that hits that “sweet spot” receives the best rates and is almost guaranteed to save a lot of money.
Consumers who don’t meet the “perfect” profile will be charged more money and this can result in the customer not buying. The ads say “people who switch” not “people who quote” save that much. That is how insurance companies can make the claims of big savings. That is why drivers should get a wide range of price quotes. It’s just too difficult to predict which insurance companies will fit your personal profile best.
Additional detailed information can be found at the Texas Department of Insurance website. Consumers can download brochures, read enforcement actions against agents and companies, and get help finding coverage.
Quote often and quote early
When trying to cut insurance costs, do not reduce needed coverages to save money. In many instances, someone sacrificed collision coverage only to find out that their decision to reduce coverage ended up costing them more. Your goal should be to find the BEST coverage for the lowest price while not skimping on critical coverages.
We just presented some good ideas how to save on Mini Cooper insurance. The most important thing to understand is the more providers you compare, the better your comparison will be. Consumers could even find that the best price on auto insurance is with a small local company. They can often insure niche markets at a lower cost compared to the large companies like Allstate and Progressive.