How to Know You're Wasting Money for Car Insurance in Belmont

Did you fall for a flashy sales pitch and buy an underperforming, overpriced car insurance policy? Trust us, you're not the only one. Because there are so many choices, it's difficult to find the most cost effective provider.

It's important to compare rates at least once a year because rates are constantly changing. Just because you found the best deal a year ago you can probably find a better price now. So block out anything you think you know about car insurance because you're going to learn the proper way to properly buy coverages and cut your premium.

You have some control over your rates

Consumers need to have an understanding of the factors that play a part in calculating your car insurance rates. When you know what positively or negatively impacts premium levels enables informed choices that may reward you with lower car insurance prices.

Shown below are some of the factors car insurance companies consider when setting rates.

Males pay more for insurance - Statistics demonstrate women tend to be less risk to insure than men. Now that doesn't mean men are worse drivers. Women and men tend to get into accidents at about the same rate, but the males tend to have more serious accidents. They also get more serious tickets such as reckless driving.
Safer occupants lowers premiums - Cars with high safety ratings get lower rates. These vehicles reduce injuries and fewer injuries means lower claim amounts passed on to you as lower rates.
Adjust deductibles and save - Physical damage coverage, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some instances where coverage would apply are collision with another vehicle, damage caused by hail, and windstorm damage. The deductibles are how much you are willing to pay out-of-pocket in the event of a claim. The more money you are required to pay out-of-pocket, the less your car insurance will be.
How credit affects car insurance rates - Credit score is a big factor in calculating your car insurance rates. Drivers who have good credit tend to be better drivers and file fewer claims than drivers who have poor credit. So if your credit rating is low, you could save money insuring your by improving your rating.
How's your driving record? - Your driving citation history has a big impact on rates. Careful drivers get better rates than their less careful counterparts. Even a single moving violation can boost insurance rates forty percent or more. Drivers who have dangerous citations such as reckless driving, hit and run or driving under the influence may need to file a SR-22 with their state motor vehicle department in order to prevent a license revocation.
Where you live can impact rates - Choosing to live in a rural area can be a good thing when it comes to car insurance. Urban drivers regularly have much more traffic and longer commute times. Fewer people translates into fewer accidents and also fewer theft and vandalism claims.
How many coverages with the same company - Some insurance companies will give a discount to policyholders who carry more than one policy, otherwise known as a multi-policy discount. Even if you're getting this discount it's still a good idea to comparison shop to ensure the best deal. Drivers may still find a better deal by insuring with multiple companies.

Save big with these discounts

Companies offering auto insurance don't always advertise all their discounts very well, so here is a list some of the more common and also the lesser-known discounts you could be receiving. If you don't get every credit possible, you are paying more than you should be.

55 and Retired - If you're over the age of 55, you may receive better car insurance rates.
Drive Less and Save - Low mileage vehicles can qualify you for a substantially lower rate.
Multiple Cars - Insuring all your vehicles with the same company can get a discount on all vehicles.
Anti-lock Brakes - Vehicles equipped with ABS or steering control can avoid accidents and earn discounts up to 10%.
Discount for Good Grades - This discount can get you a discount of up to 25%. The discount lasts up until you turn 25.
Bundle and Save - If you insure your home and vehicles with the same company you may save up to 20% off your total premium.

A little note about advertised discounts, some of the credits will not apply the the whole policy. A few only apply to specific coverage prices like liability, collision or medical payments. So even though it sounds like you can get free auto insurance, you won't be that lucky.

To choose companies with discount car insurance rates in Maine, click here.

Car insurance ads bend the truth

Consumers can't ignore all the ads that promise big savings by Progressive, GEICO, Allstate and State Farm. They all seem to have a common claim about savings if you change to their company.

But how can every company make the same claim? It's all in the numbers.

All companies are able to cherry pick for the driver that makes them money. An example of a desirable insured could be between the ages of 30 and 50, has no tickets, and has excellent credit. A customer that hits that "sweet spot" receives the best rates and most likely will save a lot of money.

Consumers who fall outside this ideal profile will have to pay higher prices and this can result in business going elsewhere. Company advertisements say "customers who switch" not "people who quote" save that much. That's the way companies can truthfully make those claims. Because of the profiling, you should get a wide range of price quotes. Because you never know which car insurance company will have the lowest rates.

Even more information is available at the Maine Bureau of Insurance website. Consumers can learn about insurance regulations, find disaster information, report car insurance fraud, and find out industry alerts.

Other informative sites include this Car Insurance FAQ and this page of insurance agents in Belmont.

Best coverage at the best price

While you're price shopping online, do not buy poor coverage just to save money. There are many occasions where an insured dropped liability limits or collision coverage only to find out they didn't purchase enough coverage. Your aim should be to buy enough coverage at the best price.

Cheaper car insurance can be sourced from both online companies and also from your neighborhood Belmont agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some companies may not provide online price quotes and most of the time these smaller companies sell through independent agents.

We just showed you a lot of techniques to save on car insurance. It's most important to understand that the more times you quote, the better your comparison will be. You may even discover the lowest rates come from some of the smallest insurance companies. Some small companies may cover specific market segments cheaper than their larger competitors like .