Best Way to Find Cheaper Oxford Auto Insurance
If you're new to shopping for auto insurance online, you may be overwhelmed because of the huge number of auto insurance companies all offering big savings in Oxford.
Are you getting all your discounts?
Companies don't necessarily list every discount in an easy-to-find place, so here is a list both well-publicized and the more hidden auto insurance savings. If they aren't giving you every credit you qualify for, you are throwing money away.
- Federal Employees - Active or retired federal employment may qualify you for a discount with a few auto insurance companies.
- Theft Prevention System - Anti-theft and alarm systems can help prevent theft and qualify for as much as a 10% discount.
- Low Mileage Discounts - Low mileage vehicles can qualify you for lower rates on the low mileage vehicles.
- Homeowners Savings - Simply owning a home may trigger a auto insurance policy discount because maintaining a house requires personal responsibility.
- Anti-lock Brake Discount - Cars that have steering control and anti-lock brakes can avoid accidents and therefore earn up to a 10% discount.
- Multiple Policy Discount - If you have multiple policies with one insurance company you may earn approximately 10% to 15%.
As a disclaimer on discounts, most credits do not apply to your bottom line cost. The majority will only reduce the cost of specific coverages such as comp or med pay. So when the math indicates having all the discounts means you get insurance for free, auto insurance companies aren't that generous.
What determines how much you pay?
Smart consumers have a good feel for some of the elements that play a part in calculating the price you pay for auto insurance. Understanding what impacts premium levels allows you to make educated decisions that will entitle you to big savings.
Shown below are some of the factors companies use to determine prices.
- More claims means more premium - Companies in Ohio provide better rates to insureds who file claims infrequently. If you are a frequent claim filer, you can look forward to either policy cancellation or increased premiums. Insurance coverage is designed for larger claims.
- How many coverages with the same company - Some companies provide better rates to customers who consolidate policies with them. It's known as a multi-policy discount. Discounts can be anywhere from five to ten percent in most cases. Even if you're getting this discount you may still want to compare other company rates to make sure you are getting the best deal.
- Better crash test results mean better rates - Vehicles with good safety scores are cheaper to insure. The safest vehicles result in less severe injuries and lower injury rates means less money paid by your insurance company and lower rates for you.
- Lower deductibles cost more - Your deductibles define the amount you are willing to pay out-of-pocket before a claim is paid by your company. Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your car. Examples of covered claims could be running into the backend of another car, damage from fire, and burglary. The more money you're willing to pay, the lower your rates will be.
Tailor your coverage to you
When it comes to buying proper insurance coverage for your vehicles, there is no cookie cutter policy. Each situation is unique.
For instance, these questions might point out whether you would benefit from an agent's advice.
- Am I covered if I drive in a foreign country?
- Does my personal auto insurance policy cover using my vehicle for business use?
- Is my dog or cat covered if injured in an accident?
- Is my nanny covered when driving my vehicle?
- When do I need to add a new car to my policy?
- Does my car insurance cover rental cars?
- Can I get a multi-policy discount for packaging my home and auto coverage?
If you don't know the answers to these questions but you think they might apply to your situation, you might consider talking to an agent. To find an agent in your area, fill out this quick form. It's fast, doesn't cost anything and can provide invaluable advice.
How can Progressive, Allstate and GEICO save drivers who switch?
Ohio consumers get pounded daily by advertisements for cheaper car insurance by companies like Progressive, Allstate and GEICO. They all say the same thing about savings if you change to them.
How do they all make almost identical claims?
All the different companies have a certain "appetite" for the type of driver that earns them a profit. An example of a driver they prefer could possibly be between 25 and 40, owns a home, and has excellent credit. A customer getting a price quote who fits that profile gets the lowest rates and as a result will probably cut their rates substantially.
Potential customers who are not a match for the "perfect" profile will be quoted a higher premium which usually ends up with the driver buying from a lower-cost company. Company advertisements say "people who switch" not "everybody who quotes" save money. That is how companies can truthfully make those claims. This emphasizes why drivers should compare many company's rates. It's impossible to know which company will have the lowest rates.
For more Ohio car insurance information
Even more information is available at the Ohio Department of Insurance website. Ohio consumers can download brochures, read consumer alerts, and find disaster information.
Best coverage at the best price
Consumers leave their current company for many reasons like extreme rates for teen drivers, policy non-renewal, delays in responding to claim requests and even lack of trust in their agent. Regardless of your reason for switching companies, finding the right auto insurance provider is less work than it seems.
While you're price shopping online, you should never skimp on coverage in order to save money. There are too many instances where an insured cut liability limits or collision coverage only to find out they didn't purchase enough coverage. Your strategy should be to buy the best coverage you can find at an affordable rate while still protecting your assets.
Cheap auto insurance is attainable online and with local Oxford insurance agents, so you should compare both to have the best rate selection. Some companies do not offer you the ability to get quotes online and these smaller companies work with independent agents.