How to Know You're Throwing Money Away for Auto Insurance in Lafayette

Have you had enough of scraping the payment together each month for car insurance? You are no different than many other drivers in Colorado. Numerous battle for your hard-earned dollar, so it's not easy to compare every and get the definite lowest rate

It's important to do rate comparisons before your policy renews because prices are constantly changing. Even if you got the best price a few years ago there is a good chance you can find better rates now. Block out anything you think you know about auto insurance because I'm going to let you in on the secrets to the tricks you need to know to find the best coverage while lowering your premiums.

If you have a current auto insurance policy or need new coverage, you will benefit by learning to get lower rates and possibly find even better coverage. Choosing the best insurance company for you in Lafayette is not that difficult. Colorado consumers only need to know the most effective way to shop their coverage around over the internet.

Why some people pay less for insurance in Lafayette

Consumers need to have an understanding of the rating factors that help determine the price you pay for auto insurance. Understanding what impacts premium levels allows you to make educated decisions that may reward you with lower auto insurance prices.

The following are a few of the "ingredients" companies use to determine rates.

Bump up deductibles to save - Physical damage insurance, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Examples of covered claims could be running into the backend of another car, damage caused by hail, and burglary. Physical damage deductibles are how much you are required to spend before a claim is paid by your company. The higher the amount you're willing to pay, the less your company will charge you for insurance.
Frequent auto insurance claims increase rates - Car insurance companies in Colorado give better rates to insureds who file claims infrequently. If you frequently file small claims, you can expect either a policy non-renewal or much higher rates. Auto insurance is designed for major claims that would cause financial hardship.
Lower miles equals lower premium - Driving more miles every year the more you will pay for auto insurance. Most companies apply a rate based upon how you use the vehicle. Autos left parked in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Make sure your auto insurance coverage is showing the proper vehicle usage.
Higher safety ratings means cheaper insurance - Cars with high safety ratings tend to have better insurance rates. These vehicles result in less severe injuries and lower injury rates translates into fewer and smaller insurance claims and lower rates for you.
Your credit rating is important - Credit history is a huge factor in your rate calculation. Therefore, if your credit history is not that good, you could save money insuring your by repairing your credit. Drivers with high credit ratings tend to file fewer claims and have better driving records than drivers who have lower credit scores.
Optional equipment can affect rates - Driving a car with anti-theft technology or alarm system can save you a little every year. Theft prevention features like GM's OnStar, tamper alarm systems and vehicle immobilizers all hinder your vehicle from being stolen.
Don't skimp on liability - Liability coverage will protect you if ever a court rules you are at fault for damages from an accident. Liability insurance provides for a legal defense starting from day one. This coverage is very inexpensive when compared with rates for comp and collision, so drivers should carry high limits.
Discounts for married couples - Having a spouse can get you a discount on your auto insurance policy. It is viewed as being more responsible it has been statistically shown that drivers who are married are more cautious.

How to Compare Lafayette Auto Insurance Rates

All major auto insurance companies such as State Farm, GEICO and Progressive provide pricing online. This process is pretty easy as you just type in into the quote form. After the form is submitted, the company's rating system will obtain your credit score and driving record and returns a price quote based on many factors. Online price quotes makes comparing rates easy, but the process of having to visit several different sites and type in the same information can be a bit repetitive. Unfortunately, it is important to get many rate quotes if you want to find a lower rate.

The preferred way to lower your auto insurance bill uses one form that gets price quotes from more than one company. It's a real time-saver, reduces the work, and makes online quotes much more enjoyable. As soon as you send your information, it gets priced and you can select any of the resulting price quotes. If one or more price quotes are lower than your current rates, you can click and sign and purchase the new policy. The whole process takes 15 minutes at the most and you will find out if you're overpaying now.

To find out how much you're overpaying now, click here and fill out the form. If you currently have coverage, we recommend you input the coverage information as close as possible to your current policy. This makes sure you will have comparison quotes for the exact same coverage.

More discounts equal less premium

Auto insurance companies do not list all their discounts in an easy-to-find place, so we took the time to find both well-publicized and the harder-to-find ways to save on auto insurance. If they aren't giving you every credit available, you are paying more than you should be.

Homeowners Pay Less - Owning a house in Lafayette may earn you a small savings due to the fact that maintaining a home is proof that your finances are in order.
Employee of Federal Government - Employees or retirees of the government can save as much as 8% with select insurance companies.
Auto/Life Discount - Companies who offer life insurance give lower rates if you buy a life insurance policy as well.
Drive Less and Save - Fewer annual miles can earn better rates on cars that stay parked.
Multiple Vehicles - Having multiple vehicles with the same company qualifies for this discount.
Braking Control Discount - Vehicles equipped with ABS or steering control can reduce accidents and qualify for as much as a 10% discount.
Discount for New Cars - Buying coverage on a new vehicle can cost up to 25% less since new cars are generally safer.

A little note about advertised discounts, most discount credits are not given to the entire cost. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. So when the math indicates all the discounts add up to a free policy, you won't be that lucky.

To choose companies who offer auto insurance discounts in Lafayette, click this link.

Switch companies and save? Really?

Colorado consumers can't ignore all the ads for the lowest price auto insurance by companies like State Farm, GEICO and Progressive. They all seem to make the same claim about savings after switching to them.

How do they all make almost identical claims? This is how they do it.

All companies can use profiling for the type of driver that makes them money. For example, a desirable insured could possibly be a mature driver, is a homeowner, and drives less than 7,500 miles a year. A customer getting a price quote who matches those parameters is entitled to the best price and therefore will cut their rates substantially.

Consumers who do not match the "perfect" profile will have to pay higher prices which leads to the driver buying from a lower-cost company. The ads state "drivers who switch" not "everyone that quotes" save money. That's why companies can truthfully advertise the way they do. Because of the profiling, you need to quote coverage with many companies. It's impossible to know the company that will provide you with the cheapest rates.

Even more information can be found at the Colorado DORA Division of Insurance website. Colorado consumers can report car insurance fraud, download brochures, file complaints about an insurance agent or broker, and find disaster information.

And the best car insurance company is...

The cheapest auto insurance can be purchased online and with local Lafayette insurance agents, and you need to price shop both in order to have the best price selection to choose from. Some auto insurance companies do not offer online price quotes and most of the time these regional insurance providers sell through independent agents.

When shopping online for auto insurance, you should never reduce coverage to reduce premium. In many cases, an accident victim reduced physical damage coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your aim should be to buy a smart amount of coverage for the lowest price.