How to Know You're Wasting Money for Auto Insurance in Sherrodsville
Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Trust us, you're not the only one.
Drivers have so many to buy insurance from, and even though it's nice to be able to choose, too many choices makes it more difficult to compare rates.
It's important to compare prices every six months because prices are constantly changing. Just because you found the best deal a couple years back there is a good chance you can find better rates now. Starting right now, block out anything you think you know about auto insurance because you're going to get a crash course in the proper way to find lower rates on auto insurance.
This information will help educate you on how car insurance quotes work. If you currently have a car insurance policy, you will be able to save some money using this strategy. Nevertheless, Ohio drivers do need to know the way insurance companies sell online and take advantage of how the system works.
How to Lower your Auto Insurance Rates
Consumers need to have an understanding of the factors that play a part in calculating the price you pay for auto insurance. Knowing what determines base rates empowers consumers to make smart changes that may reward you with much lower annual insurance costs.
Shown below are some of the factors used by your company to calculate rates.
- Having a spouse can save you money - Being married helps lower the price on auto insurance. It translates into being more mature and responsible and statistics show being married results in fewer claims.
- Protect yourself with liability coverage - Your policy's liability coverage provides coverage if ever a court rules you are at fault for personal injury or accident damage. Liability provides legal defense coverage which can be incredibly expensive. This coverage is very inexpensive as compared to coverage for physical damage, so do not skimp.
- Do you work long hours in a high stress job? - Jobs such as doctors, social workers and financial analysts have higher average rates due to job stress and long work days. Conversely, occupations such as actors, engineers and retirees get better rates.
- Do you know your deductibles? - Coverage for physical damage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. A few examples of covered claims could be collision with another vehicle, damage from fire, and rolling your vehicle. The deductibles are how much you are willing to pay out-of-pocket if you file a covered claim. The more money you have to pay, the less your auto insurance will be.
- Careful drivers pay lower rates - Your driving citation history has a lot to do with how much you pay for insurance. Just one speeding ticket can bump up the cost twenty percent or more. Drivers who don't get tickets get better rates than their less careful counterparts. Drivers who have dangerous citations such as DUI or reckless driving may need to submit a SR-22 form with their state DMV in order to prevent a license revocation.
- Extra coverages can waste money - There are quite a few extra coverages that you can buy on your auto insurance policy. Coverages for rental car reimbursement, towing coverage and additional equipment coverage are some examples. They may seem good initially, but now you might not need them so eliminate them to save money.
Compare Quotes for Sherrodsville Auto Insurance
All major auto insurance companies like State Farm, GEICO and Progressive quote price estimates on their websites. This process is quite simple as you just type in the coverages you want as detailed in the form. After the form is submitted, the company's rating system will obtain credit information and your driving record and provides a quote based on these and other factors. Quoting online streamlines rate comparisons, but the work required to visit multiple sites and type in the same information can be a bit repetitive. But it's very important to have as many quotes as possible if you are searching for better auto insurance pricing.
The preferred way to lower your rates uses one form that gets price quotes from several different companies. The form is fast, eliminates form submissions, and makes online quotes much easier. Immediately after you send the form, it is quoted with multiple companies and you can pick any one of the resulting price quotes.
If you find a better price you can simply submit the application and buy the new coverage. It only takes a few minutes and can result in significant savings.
To find out what other companies charge, click here to open in new window and complete the simple form. If you have a policy now, it's recommended you type in the coverages exactly as they are listed on your policy. This makes sure you will have a rate comparison for the exact same coverage.
These discounts can lower your rates
Insuring your vehicles can cost a lot, but discounts can save money and there are some available that you may not know about. Larger premium reductions will be automatically applied when you quote, but some must be asked about prior to getting the savings.
- Sign Online - A few companies will discount your bill up to fifty bucks simply for signing over the internet.
- Organization Discounts - Participating in a qualifying organization may earn a discount on auto insurance.
- Multiple Cars - Buying coverage for all your vehicles with the same company can get a discount on all vehicles.
- Claim Free - Drivers with accident-free driving histories can earn big discounts as compared to accident-prone drivers.
- Homeowners Discount - Owning a house in Sherrodsville can save you money because maintaining a house requires personal responsibility.
- Discount for Good Grades - This discount can earn a discount of 20% or more. The discount lasts up until you turn 25.
- Passive Restraints - Factory air bags and/or automatic seat belt systems may earn rate discounts of up to 25% or more.
It's important to understand that some credits don't apply to all coverage premiums. The majority will only reduce specific coverage prices like liability, collision or medical payments. So even though they make it sound like adding up those discounts means a free policy, it doesn't quite work that way. Any qualifying discounts will bring down the cost of coverage.
To choose companies with discount auto insurance rates in Ohio, click here.
Are you falling for claims of savings?
Auto insurance companies such as State Farm, GEICO and Progressive consistently run ads on television and other media. They all seem to have a common claim of big savings if you change your coverage to them. How does each company make almost identical claims? It's all in the numbers.
Insurance companies are able to cherry pick for the type of customer that makes them money. An example of a desirable insured could possibly be a mature driver, has no driving citations, and drives less than 10,000 miles a year. A customer getting a price quote that hits that "sweet spot" gets the lowest rates and as a result will probably save when switching.
Potential customers who are not a match for these standards will have to pay a higher premium and this can result in the driver buying from a lower-cost company. Company advertisements say "customers who switch" not "everybody who quotes" save that much money. That's the way insurance companies can confidently advertise the way they do.
Because of the profiling, you need to get a wide range of price quotes. It's impossible to know which auto insurance company will provide you with the cheapest rates.
Additional auto insurance information is available on the website for the Ohio Department of Insurance found here. Ohio consumers can get help finding coverage, find out which companies have the most complaints, read industry bulletins, and report car insurance fraud.
Shop smart and save
Low-cost auto insurance can be sourced online as well as from independent agents in Sherrodsville, and you need to price shop both to have the best rate selection. Some auto insurance companies don't offer online price quotes and most of the time these smaller companies sell through independent agents.
You just read a lot of ways to compare auto insurance prices online. It's most important to understand that the more rate comparisons you have, the better your chances of lowering your rates. Consumers may even find the best price on auto insurance is with some of the smallest insurance companies. These smaller insurers can often provide lower rates in certain areas than the large multi-state companies such as .