Consumer Tested Strategies to Save on Basalt Auto Insurance

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Trust us, you're not the only one.

Drivers have multiple to buy insurance from, and even though it's nice to have multiple companies, it can be more challenging to compare rates.

Don't pay full price with these discounts

Companies offering auto insurance don't list all available discounts very clearly, so the following is a list of both well-publicized and also the lesser-known discounts you could be receiving.

Fewer Miles Equal More Savings - Low mileage vehicles could qualify for a substantially lower rate.
Multiple Cars - Having all your vehicles on one policy can get a discount on all vehicles.
Homeowners Discount - Owning a home in Basalt can save you money because maintaining a house demonstrates responsibility.
Service Members Pay Less - Being deployed with a military unit could be rewarded with lower premiums.
Discount for New Cars - Buying coverage on a new vehicle is cheaper compared to insuring an older model.
Discount for Swiching Early - Some companies give discounts for switching policies prior to your current policy expiring. The savings is around 10%.

A little note about advertised discounts, some credits don't apply the the whole policy. Most only apply to specific coverage prices like liability and collision coverage. So even though they make it sound like you could get a free auto insurance policy, you won't be that lucky.

The auto insurance bait and switch

21st Century, Allstate and State Farm consistently run ads in print and on television. All the companies have a common claim about savings if you change to their company. How does each company make almost identical claims? It's all in the numbers.

Different companies are able to cherry pick for the driver that earns them a profit. A good example of a profitable customer could possibly be between the ages of 30 and 50, has no tickets, and drives less than 7,500 miles a year. A driver that hits that "sweet spot" is entitled to the best price and therefore will save when switching.

Drivers who don't measure up to these standards must pay a higher premium and this can result in the driver buying from a lower-cost company. Company advertisements say "customers who switch" not "everyone that quotes" save that much. That's the way companies can truthfully advertise the way they do. This illustrates why you should get as many quotes as possible. It is impossible to predict which auto insurance company will provide you with the cheapest rates.

Even more information can be read at the Colorado DORA Division of Insurance website. Colorado consumers can find disaster information, report car insurance fraud, discover disciplinary actions, and read industry bulletins.

Shop smart and save

Cheaper auto insurance can be sourced online and also from your neighborhood Basalt agents, and you should compare price quotes from both to have the best selection. Some auto insurance companies may not provide you the ability to get quotes online and usually these small insurance companies provide coverage only through local independent agents.

When shopping online for auto insurance, it's very important that you do not buy lower coverage limits just to save a few bucks. There are a lot of situations where an insured dropped full coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The proper strategy is to buy enough coverage at the best price while not skimping on critical coverages.