How to Know You're Spending Too Much for Auto Insurance in Maineville

Scraping up a payment for overpriced auto insurance can take a big chunk out of your bank account and force you to make sacrifices. Doing a price comparison is free, only takes a few minutes, and is a good way to lower your monthly bill.

You have so many to pick from, and although it's a good thing to have multiple companies, lots of choices makes it harder to compare rates.

Buying car insurance in Maineville is easy if you know what you're doing. If you have car insurance now, you will most likely be able to lower your premiums substantially using these methods. But Ohio vehicle owners do need to know the way companies determine prices and use this information to your advantage.

Take advantage of discounts

Car insurance companies do not list every discount very clearly, so we break down some of the best known and also the lesser-known savings tricks you should be using.

  • Claim Free - Drivers who don't have accidents can save substantially when compared to drivers who are more careless.
  • Own a Home - Simply owning a home can help you save on auto insurance because of the fact that having a home is proof that your finances are in order.
  • Pay Upfront and Save - If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save up to 5%.
  • New Vehicle Savings - Adding a new car to your policy is cheaper since new cars are generally safer.
  • Drivers Education - Make teen driver coverage more affordable by requiring them to successfully complete driver's ed class in high school.
  • Low Mileage Discounts - Keeping the miles down can earn discounted rates on garaged vehicles.
  • Government Employees - Active or retired federal employment can save as much as 8% with a few auto insurance companies.
  • Distant Student - Kids in college who attend school more than 100 miles from home without a vehicle on campus may qualify for this discount.
  • Anti-theft Discount - Cars that have factory anti-theft systems prevent vehicle theft and earn discounts up to 10%.
  • Lower Rates for Military - Being on active duty in the military can result in better rates.

Drivers should understand that most discount credits are not given to all coverage premiums. Most only cut specific coverage prices like comp or med pay. So when the math indicates you can get free auto insurance, companies wouldn't make money that way.

Tips to Get Lower Maineville Rates

Smart consumers have a good feel for the different types of things that come into play when calculating auto insurance rates. Knowing what controls the rates you pay empowers consumers to make smart changes that will entitle you to lower auto insurance prices.

The list below includes a few of the "ingredients" used by your company to calculate prices.

  • Rates may be lower depending on your job - Careers like lawyers, business owners and financial analysts have higher average rates due to stressful work requirements and lengthy work days. Conversely, professions such as pilots, engineers and the unemployed get better rates.
  • Pay less if you're married - Having a spouse actually saves money on your policy. Having a significant other translates into being more mature than a single person and statistics show married drivers get in fewer accidents.
  • Optional equipment can affect rates - Purchasing a vehicle with a theft deterrent system can get you a discount on your auto insurance. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping car theft.
  • Where do you drive? - The more you drive in a year's time the higher your rate. Almost all companies price each vehicle's coverage based on how the vehicle is used. Cars and trucks left parked in the garage qualify for better rates than those used for commuting. Make sure your auto insurance policy shows the correct driver usage.
  • Extra add-on coverages are wasting money - There are a lot of add-on coverages that can waste your money if you aren't careful. Coverages for roadside assistance, accident forgiveness and additional equipment coverage may be costing you every month. They may seem like a good idea initially, but now you might not need them so eliminate them to save money.
  • Too many auto insurance claims drive up costs - Companies in Ohio award lower rates to people who do not file claims often. If you tend to file frequent claims, you can expect higher rates. Auto insurance is intended to be relied upon for the bigger claims that can't be paid out-of-pocket.

Are auto insurance companies telling the truth?

Auto insurance providers like Progressive, Allstate and GEICO regularly use ads on TV and radio. They all make an identical promise that you'll save big if you move your coverage to them. How does each company say the same thing? It's all in the numbers.

All companies have a preferred profile for the type of customer that earns them a profit. For example, a driver they prefer might be profiled as between the ages of 30 and 50, insures multiple vehicles, and chooses high deductibles. A propective insured who meets those qualifications will qualify for the lowest rates and most likely will save when switching.

Consumers who don't qualify for these standards will be quoted higher prices and ends up with business not being written. The ad wording is "customers who switch" not "people who quote" save that much money. This is how companies can state the savings. This emphasizes why drivers should compare as many rates as you can. It's not possible to predict which insurance companies will give you the biggest savings.

More detailed Ohio auto insurance information can be found at the Ohio Department of Insurance website. Ohio drivers can read industry bulletins, get help finding coverage, view a list of available companies, and file complaints about an insurance agent or broker.

Also read more on this online resource for auto insurance quotes in Ohio and this list of insurance agents in Maineville.

Final considerations

Budget-conscious auto insurance is possible on the web as well as from independent agents in Maineville, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance companies don't offer you the ability to get quotes online and these regional insurance providers work with independent agents.

When buying insurance coverage, make sure you don't skimp on coverage in order to save money. There are too many instances where drivers have reduced uninsured motorist or liability limits only to regret that their decision to reduce coverage ended up costing them more. Your strategy should be to purchase a proper amount of coverage at the best price while still protecting your assets.