Consumer Tested Strategies to Save on Payne Auto Insurance
Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Believe me when I say there are lots of people in the same boat.
Insurance companies such as GEICO and Progressive promote their brand names with ad campaigns and it is challenging if not impossible to sift through the bull and effectively compare rates to find the best deal.
Why some people pay less for insurance in Payne
Consumers need to have an understanding of some of the elements that help determine the price you pay for auto insurance. Having a good understanding of what impacts premium levels allows you to make educated decisions that could result in lower auto insurance prices.
- Higher safety ratings means cheaper insurance - Cars with high safety ratings are cheaper to insure. Safe vehicles result in less severe injuries and lower injury rates means lower claim amounts and more competitive rates for policyholders.
- Do you know your deductibles? - Your deductibles represent how much money you are required to spend before your auto insurance pays a claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Examples of covered claims could be colliding with a building, damage caused by hail, and burglary. The more expense you're willing to pay, the less your auto insurance will be.
- Men pay higher rates - Statistics demonstrate women are more cautious behind the wheel. However, this does not mean women are better drivers. Women and men have accidents at a similar rate, but the male of the species have costlier accidents. Men also tend to get cited for more serious violations such as DWI and reckless driving. Youthful male drivers are most likely to cause an accident and are penalized with high auto insurance rates.
- Your auto insurance rates can be influenced by your job - Did you know that where you work can have an impact on rates? Occupations such as real estate brokers, architects and dentists tend to pay the highest average rates because of high stress levels and lengthy work days. Other occupations like actors, historians and performers have the lowest average rates.
- Extra coverages can waste money - There are a ton of extra coverages that you can get tricked into buying on your auto insurance policy. Insurance for vanishing deductibles, accidental death and motor club memberships are examples of these. These may sound like a good investment when you first buy your policy, but if you don't need them eliminate the coverages to reduce your premium.
- Multi-policy discounts can save money - Many companies will award you with lower prices to customers who have multiple policies with them such as combining an auto and homeowners policy. Discounts can add up to anywhere from five to ten percent in most cases. Even if you're getting this discount you still need to comparison shop to make sure you are getting the best deal. You may still find a better deal by insuring with multiple companies.
How to Compare Auto Insurance Quotes in Payne, Ohio
The are a couple different ways of comparing rate quotes from auto insurance companies in your area. One of the best ways to find the lowest rates is to perform an online rate comparison. This is very easy and can be done using a couple different methods.
- The fastest way to get the best comparison quotes is a comparison rater form click here to open form in new window. This method eliminates the need for multiple quote forms for every auto insurance company. Filling out one form will get you rate comparisons from multiple low-cost companies.
- A less efficient way to shop for auto insurance online requires you to visit the website for every company you want to comare to complete their respective quote request forms. For examples sake, we'll pretend you want to compare rates from , and . To get rate quotes you would need to take the time to go to each site and enter your policy data, which is why the first method is more popular.
For a list of links to companies insuring cars in Payne, click here.
Whichever way you use, ensure you are comparing exactly the same coverage information on every quote you get. If you use unequal deductibles or liability limits it will be impossible to determine which rate is truly the best in Payne. Just a small difference in coverages can mean a large discrepancy in price. Just remember that more quotes will improve the odds of getting the best offered rates.
Policy discounts you shouldn't miss
Companies offering auto insurance don't always advertise all available discounts in a way that's easy to find, so the following is a list of both well-publicized as well as the least known auto insurance savings.
- Fewer Miles Equal More Savings - Fewer annual miles could qualify for lower rates on the low mileage vehicles.
- Multiple Vehicles - Buying insurance for multiple vehicles with the same company may reduce the rate for each vehicle.
- Save over 55 - If you're over the age of 55, you may be able to get reduced rates.
- Accident Free - Drivers with accident-free driving histories pay less when compared with accident-prone drivers.
- Driver Safety - Completing a course in driver safety could possibly earn you a 5% discount if your company offers it.
- Anti-theft Discount - Anti-theft and alarm systems help deter theft and will save you 10% or more.
A little note about advertised discounts, most of the big mark downs will not be given to all coverage premiums. Most only apply to individual premiums such as liability and collision coverage. So even though they make it sound like all the discounts add up to a free policy, you won't be that lucky.
To choose insurers who offer auto insurance discounts in Payne, follow this link.
Save $429 a year? Really?
21st Century, Allstate and State Farm continually stream television and radio advertisements. All the companies say the same thing about savings after switching to them. How can each company make almost identical claims?
All companies are able to cherry pick for the type of driver that makes them money. A good example of a profitable customer could possibly be between the ages of 40 and 55, has no driving citations, and chooses high deductibles. A driver who fits that profile is entitled to the best price and is almost guaranteed to save when they switch companies.
Potential customers who don't qualify for the requirements must pay a higher premium which usually ends up with the driver buying from a lower-cost company. The ads state "customers that switch" but not "drivers who get quotes" save money. That's the way companies can truthfully state the savings. This illustrates why you need to get as many quotes as possible. It is impossible to predict which auto insurance company will give you the biggest savings.
Even more information can be read at the Ohio Department of Insurance website. Ohio consumers can find disaster information, report car insurance fraud, learn about insurance regulations, and read industry bulletins.
The best insurance company isn't always the cheapest
Cheaper auto insurance can be bought online and with local Payne insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance companies do not offer online price quotes and usually these small insurance companies provide coverage only through local independent agents.
When buying insurance coverage, it's a bad idea to reduce coverage to reduce premium. There are a lot of situations where someone sacrificed full coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. The proper strategy is to buy a smart amount of coverage at a price you can afford while not skimping on critical coverages.