How to Know You're Spending Too Much for Auto Insurance in Reynoldsburg
Expensive auto insurance can dwindle your savings account, especially in this economy. Comparison shopping is a smart way to lower your monthly bill.
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.
It's important to compare prices yearly because prices are constantly changing. Just because you had the best deal a year ago a different company probably has better rates today. Starting right now, ignore everything you know about auto insurance because you're going to get a crash course in the only way to find lower rates on auto insurance.
Be sure to get all your discounts
The cost of insuring your cars can be expensive, but you can get discounts that you may not even be aware of. Certain discounts will be applied at the time of quoting, but lesser-known reductions have to be specifically requested before you will receive the discount.
- College Student - Children who live away from home and do not have a car can receive lower rates.
- Bundle and Save - If you have multiple policies with one company you could get a discount of at least 10% off all policies.
- Good Student Discount - Performing well in school can earn a discount of 20% or more. The discount lasts until age 25.
- Sign Online - A few companies may give you up to $50 for buying your policy over the internet.
- Own a Home - Owning a house in Reynoldsburg may trigger a auto insurance policy discount because owning a home requires personal responsibility.
- Drivers Education - Make teen driver coverage more affordable by requiring them to complete a driver education course in school.
As a disclaimer on discounts, most credits do not apply to your bottom line cost. Some only reduce specific coverage prices like liability, collision or medical payments. So when it seems like adding up those discounts means a free policy, auto insurance companies aren't that generous. Any amount of discount will bring down the amount you have to pay.
Good Decisions Result in Lower Rates
Smart consumers have a good feel for some of the elements that go into determining the rates you pay for auto insurance. Knowing what impacts premium levels enables informed choices that may reward you with much lower annual insurance costs.
Listed below are some of the factors auto insurance companies consider when setting rates.
- Older drivers pay less - Youthful drivers in Ohio are statistically proven to be more careless when driving so they pay higher auto insurance rates. If you've ever had to add a young driver to your auto insurance policy can be very expensive. More mature drivers are viewed as being more responsible, statistically cause fewer accidents and are safer drivers.
- Big city or small town - Residing in small towns and rural areas can be a good thing when talking about auto insurance. City drivers tend to have much more traffic and longer commute times. Fewer people translates into fewer accidents and also fewer theft and vandalism claims.
- Cautious drivers pay less - Careful drivers get better rates than bad drivers. Just one moving violation can boost insurance rates by as much as thirty percent. Drivers who have serious citations such as reckless driving, hit and run or driving under the influence may need to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to continue driving.
- Your spouse saves you money - Being married can actually save you money when buying auto insurance. It means you're more responsible and statistics show married drivers get in fewer accidents.
- Claim-free discounts can add up - If you tend to file frequent claims, you can expect either policy cancellation or increased premiums. Car insurance companies in Ohio provide lower rates to insureds who are claim-free. Your insurance policy is intended for the bigger claims that can't be paid out-of-pocket.
How do I know if I need professional advice?
When it comes to buying proper insurance coverage for your personal vehicles, there isn't really a perfect coverage plan. Every situation is different and a cookie cutter policy won't apply. For example, these questions can help discover whether or not you might need an agent's assistance.
- Do I pay less if my vehicle is kept in my garage?
- What are the best liability limits?
- Do I need to file an SR-22 for a DUI in Ohio?
- Why does it cost so much to insure a teen driver in Reynoldsburg?
- Does my liability insurance cover pulling a trailer or camper?
- Does my policy cover my teen driver if they drive my company car?
- Am I covered if I drive in a foreign country?
If you don't know the answers to these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you don't have a local agent, fill out this quick form or you can go here for a list of companies in your area.
Is there truth in advertising?
Auto insurance companies such as Progressive, GEICO, Allstate and State Farm constantly bombard you with television and radio advertisements. They all seem to say the same thing about savings if you switch to their company. How does each company claim to save you money? It's all in the numbers.
Insurance companies have a preferred profile for the driver that earns them a profit. An example of a desirable insured might be between the ages of 30 and 50, has no prior claims, and has excellent credit. A customer getting a price quote who fits that profile will get very good rates and is almost guaranteed to save when switching.
Potential insureds who don't measure up to these standards will have to pay more money which usually ends up with the customer not buying. The ads say "customers who switch" but not "drivers who get quotes" save that much. This is how companies can truthfully make those claims.
Because of the profiling, drivers should get quotes from several different companies. It's impossible to know which insurance companies will have the lowest rates.
Learn more about auto insurance in Ohio
Additional information is available on the website for the Ohio Department of Insurance found here. Visitors are able to read enforcement actions against agents and companies, view agent and company licensing information, file complaints about a company, and get help finding coverage.
While you're price shopping online, it's very important that you do not skimp on coverage in order to save money. There are many occasions where consumers will sacrifice comprehensive coverage or liability limits to discover at claim time they didn't purchase enough coverage. Your aim should be to find the BEST coverage at the best price.
We covered a lot of tips how to reduce auto insurance prices online. The key thing to remember is the more times you quote, the higher your chance of finding lower rates. Consumers could even find that the lowest rates come from some of the smallest insurance companies. Regional companies may have significantly lower rates on certain market segments compared to the large companies like .
Cheap auto insurance is available both online and also from your neighborhood Reynoldsburg agents, and you should compare price quotes from both to have the best chance of lowering rates. Some companies may not provide you the ability to get quotes online and most of the time these smaller companies sell through independent agents.