Car Insurance in Derwood - 5 Discounts You Might be Losing Out On

Saving money on Derwood car insurance is a challenge for consumers new to shopping for insurance online. Drivers have so many options that it can quickly become a challenge to find lower rates in Derwood.

It's important to do rate comparisons before your policy renews since rates are constantly changing. Even if you got the best deal last year a different company probably has better rates today. Starting now, forget all the misinformation about car insurance because we're going to show you the only way to remove unneeded coverages and save money.

Save big with these 5 discounts

Auto insurance companies don't always publicize every available discount in a way that's easy to find, so here is a list some of the more common and the more hidden discounts you could be receiving. If you aren't receiving every discount available, you are throwing money away.

  • Multi-policy Discount - If you have multiple policies with the same company you will save approximately 10% to 15%.
  • Employee of Federal Government - Active or retired federal employment may qualify you for a discount with certain companies.
  • Theft Prevention System - Vehicles with anti-theft systems help deter theft and qualify for as much as a 10% discount.
  • Military Rewards - Being deployed with a military unit could mean lower rates.
  • Anti-lock Brakes - Cars that have steering control and anti-lock brakes are safer to drive and earn discounts up to 10%.

As a disclaimer on discounts, some of the credits will not apply to the entire cost. Most only cut the cost of specific coverages such as comprehensive or collision. So despite the fact that it appears having all the discounts means you get insurance for free, car insurance companies aren't that generous.

Derwood car insurance quote

Car insurance ads bend the truth

Consumers get pounded daily by advertisements for the lowest price auto insurance by companies like Allstate and Progressive. All the ads have a common claim about savings if you switch to them.

How can each company make the same claim?

All the different companies can use profiling for the type of driver that earns them a profit. An example of a preferred risk could be a mature driver, is a homeowner, and has great credit. Any new insured that hits that "sweet spot" will qualify for the lowest rates and most likely will save when they switch companies.

Consumers who fall outside the requirements will be charged higher prices and this can result in business going elsewhere. The ad wording is "people who switch" not "people who quote" save money. That's why companies can truthfully advertise the savings. That is why drivers should quote coverage with many companies. It's just too difficult to predict the company that will give you the biggest savings.

Learn more today

Even more information is available at the Maryland Insurance Administration website. Consumers can read consumer alerts, download brochures, and view a list of available companies.

In the end, you save

As you prepare to switch companies, it's not a good idea to skimp on coverage in order to save money. Too many times, an accident victim reduced comprehensive coverage or liability limits to discover at claim time that the small savings ended up costing them much more. The aim is to purchase a proper amount of coverage at an affordable rate, not the least amount of coverage.

Drivers switch companies for many reasons like policy non-renewal, extreme rates for teen drivers, unfair underwriting practices and even policy cancellation. Whatever your reason, finding the right car insurance provider is less work than it seems.

You just learned a lot of techniques to reduce car insurance prices online. The key thing to remember is the more quotes you get, the better likelihood of reducing your rate. Drivers may discover the best price on car insurance is with a company that doesn't do a lot of advertising.