Free Guide to Spending Less for Thompson Auto Insurance Online
Expensive auto insurance can take a big chunk out of your savings account and make it hard to pay other bills. Comparison shopping is a great way to reduce premiums and put more money in your pocket.
Because you have many companies and agents to choose from, it can be hard to pick the best company.
It's important to get comparison quotes yearly because prices are constantly changing. Even if you got the lowest rates a couple years back the chances are good that you can find a lower rate today. So ignore everything you know about auto insurance because you're going to get a crash course in the tricks you need to know to save on auto insurance.
More discounts equal less premium
Auto insurance companies don't always advertise all their discounts very well, so we break down both the well known and the more hidden discounts you could be receiving.
- Life Insurance Discount - Companies who offer life insurance give a break if you buy life insurance from them.
- Bundle and Save - When you combine your home and auto insurance with the same insurance company you could get a discount of 10% to 20% off each policy.
- Anti-lock Brakes - Anti-lock brake equipped vehicles are safer to drive and qualify for as much as a 10% discount.
- Good Student Discount - A discount for being a good student can save 20 to 25%. This discount can apply until age 25.
- Own a Home - Owning a house in Thompson can save you money because owning a home is proof that your finances are in order.
- Seat Belt Usage - Drivers who require all occupants to wear their seat belts could save 15% off the personal injury premium cost.
As a disclaimer on discounts, some credits don't apply to your bottom line cost. Most cut the cost of specific coverages such as collision or personal injury protection. So when it seems like you could get a free auto insurance policy, auto insurance companies aren't that generous.
To see a list of companies offering auto insurance discounts in Ohio, click here.
How to Get Cheap Auto Insurance in Thompson, OH
Most companies provide insurance quotes directly from their websites. This process doesn't take much effort as you just type in your required coverages into the quote form. Once you submit the form, the system will obtain your driving record and credit report and quotes a price based on many factors. This makes it a lot easier to compare rates but having to visit each company's website and repetitively type in the same information can be a bit repetitive. Unfortunately, it is important to get many rate quotes if you want to find a lower rate.
The preferred way to compare auto insurance pricing uses one form that obtains quotes from many companies. It's a real time-saver, requires less work, and makes online quotes a lot less work. Immediately after you send the form, it gets priced and you can choose any or none of the price quotes you receive. If the quotes result in lower rates, it's easy to complete the application and buy the policy. The whole process takes less than 15 minutes and you'll know if lower rates are available.
To find out how much you're overpaying now, click here and enter your information. To compare your current rates, we recommend that you enter the coverages identical to your current policy. This makes sure you will have comparison quotes based on the exact same insurance coverage.
Understand what determines the rate you pay
An important part of buying insurance is that you know the factors that go into determining the rates you pay for auto insurance. When you know what positively or negatively impacts premium levels helps enable you to make changes that may reward you with better auto insurance rates.
Listed below are a few of the "ingredients" that factor into rates.
- Big city or small town - Residing in a small town can be a good thing when talking about auto insurance. Urban drivers have much more traffic and longer commute times. Fewer drivers means reduced accidents.
- Clean credit earns discounts - Credit score is a large factor in determining what you pay for auto insurance. Therefore, if your credit score is lower than you'd like, you could pay less to insure your by improving your rating. Consumers who have excellent credit tend to be less risk to insure than drivers who have poor credit.
- Higher deductibles cost less - Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of claims that would be covered would be colliding with a building, collision with an animal, and burglary. The deductibles are how much you are willing to pay in the event of a claim. The higher the amount the insured has to pay upfront, the bigger discount you will receive.
- Don't cancel a policy without a new one in place - Allowing your auto insurance policy to lapse is a quick way to increase your auto insurance rates. And not only will insurance be more expensive, but being ticketed for driving with no insurance can result in a license revocation or jail time.Then you may be required to file a SR-22 with the Ohio DMV.
- Your job and insurance rates - Did you know your occupation can influence how much you pay for auto insurance? Jobs such as lawyers, social workers and stock brokers are shown to have the highest rates attributed to high stress levels and long work hours. On the other hand, jobs such as pilots, students and homemakers pay the least.
It's not one size fits all
When choosing adequate coverage for your personal vehicles, there really is no perfect coverage plan. Each situation is unique and your policy should reflect that. Here are some questions about coverages that can help discover if you would benefit from professional advice.
- When does my teenage driver need to be added to my policy?
- What is the difference between comprehensive and collision coverage?
- Does my insurance cover a custom paint job?
- Do I need to file an SR-22 for a DUI in Ohio?
- Does my policy cover my teen driver if they drive my company car?
- Why am I be forced to buy a membership to get insurance from some companies?
- Will I be non-renewed for getting a DUI or other conviction?
If you can't answer these questions but you think they might apply to your situation then you might want to talk to a licensed 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.
Switch companies and save? Really?
Auto insurance companies such as GEICO, State Farm and Progressive constantly bombard you with ads in print and on television. They all seem to have a common claim about savings if you switch your policy. But how can every company claim to save you money?
Different companies have a preferred profile for the right customer that is profitable for them. For example, a desirable insured might be a mature driver, has no prior claims, 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 therefore will save a lot of money.
Consumers who do not match this ideal profile will have to pay higher rates and this can result in the customer not buying. The ads say "people who switch" not "everyone that quotes" save that kind of money. This is how companies can truthfully advertise the way they do. Because of the profiling, drivers must quote coverage with many companies. It's impossible to know which insurance companies will provide you with the cheapest rates.
Shop smart and save
As you go through the steps to switch your coverage, don't be tempted to reduce coverage to reduce premium. In many instances, consumers will sacrifice uninsured motorist or liability limits only to regret that the savings was not a smart move. The ultimate goal is to purchase plenty of coverage at an affordable rate.
We covered a lot of ways to compare auto insurance prices online. The key thing to remember is the more rate quotes you have, the higher your chance of finding lower rates. Drivers may discover the best price on auto insurance is with a company that doesn't do a lot of advertising. These smaller insurers may have significantly lower rates on certain market segments as compared to the big name companies such as .
Even more information can be found at the Ohio Department of Insurance website. Visitors are able to view agent and company licensing information, find out industry alerts, report car insurance fraud, and find a variety of consumer forms.