Tightwads Tips for Saving on Draper Auto Insurance
Tired of robbing Peter to pay Paul each month for car insurance? Your situation is no different than the majority of other car owners in Utah.
There is such a variety of to buy insurance from, and even though it's nice to have multiple companies, so many choices can make it hard to compare rates.
It's important to get comparison quotes before your policy renews since insurance rates are constantly changing. Despite the fact that you may have had the best price last year a different company probably has better rates today. Ignore everything you know about auto insurance because we're going to demonstrate one of the best ways to find great coverage at a great price.
Buying car insurance in Draper is quite easy. If you currently have a car insurance policy, you will be able to lower your premiums substantially using these methods. Nevertheless, Utah vehicle owners do need to know how companies compete online and apply this information to your search.
Take advantage of discounts
Companies offering auto insurance don't list every available discount very clearly, so we took the time to find some of the best known and the more hidden discounts you could be receiving.
- Multi-policy Discount - If you have multiple policies with the same company you will save at least 10% off all policies.
- Employee of Federal Government - Active or retired federal employment could cut as much as 10% off with certain companies.
- Resident Student - Youth drivers who attend school more than 100 miles from home and do not have access to a covered vehicle may qualify for this discount.
- Homeowners Pay Less - Being a homeowner can save you money due to the fact that maintaining a home is proof that your finances are in order.
- Seat Belt Usage - Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% off your PIP or medical payments premium.
- No Claims - Claim-free drivers can save substantially compared to drivers who are more careless.
- Low Mileage - Fewer annual miles can earn a substantially lower rate.
- Air Bag Discount - Vehicles with factory air bags may earn rate discounts of up to 25% or more.
Consumers should know that some credits don't apply to the entire cost. Most cut the cost of specific coverages such as comprehensive or collision. Even though it may seem like adding up those discounts means a free policy, companies don't profit that way.
Understand what determines the rate you pay
Smart consumers have a good feel for the factors that help determine auto insurance rates. Knowing what determines base rates helps enable you to make changes that can help you get much lower annual insurance costs.
The following are a few of the "ingredients" that factor into your rates.
- Bundling policies can get discounts - Many insurance companies give discounts to people who carry more than one policy in the form of a multi-policy discount. If you currently are using one company, you may still want to compare other company rates to confirm you are receiving the best rates possible. You may still find better rates by buying auto insurance from a different company.
- Your auto insurance rates can be influenced by your job - Did you know your auto insurance rates can be affected by your occupation? Occupations like lawyers, social workers and financial analysts are shown to have higher average rates attributed to job stress and long work days. Conversely, professions such as farmers, engineers and performers pay the least.
- Older drivers pay less - Teenage drivers in Utah are known to be less responsible in a vehicle so they pay higher auto insurance rates. Mature drivers tend to be more responsible, statistically cause fewer accidents and receive fewer citations.
- Bump up deductibles to save - Coverage for physical damage, termed comprehensive and collision coverage on your policy, protects your car from damage. Some examples of claims that would be covered are colliding with a building, damage from fire, and windstorm damage. The deductibles are the amount of money you are required to spend if you file a covered claim. The higher the amount the insured has to pay upfront, the less your company will charge you for insurance.
- No coverage gaps is important - Allowing your auto insurance policy to lapse will be a guaranteed way to pay more for auto insurance. Not only will you pay more, but being ticketed for driving with no insurance may earn you a license revocation or jail time.You may have to submit proof of financial responsibility or a SR-22 with the Utah DMV.
- High crash test scores lower rates - Vehicles with high crash test scores get lower rates. Safer cars have better occupant injury protection and better occupant protection translates into fewer and smaller insurance claims and thus lower rates.
- Add-on coverages can add up - There are a ton of extra bells and whistles you can purchase if you aren't careful. Coverages for roadside assistance, better glass coverage and membership fees are some examples. They may seem good at first, but your needs may have changed so eliminate them to save money.
- Protect your assets with liability insurance - Liability coverage will protect you in the event that a jury decides you are liable for damages caused by your negligence. It will provide for a legal defense which can be incredibly expensive. Liability is cheap when compared with rates for comp and collision, so do not skimp.
Are auto insurance companies telling the truth?
Companies like Allstate and Progressive continually stream ads on TV and radio. All the ads have a common claim of big savings after switching your policy. How does each company say the same thing?
Insurance companies can use profiling for the right customer that earns them a profit. For example, a preferred risk might be profiled as between 25 and 40, is a homeowner, and has great credit. A propective insured that hits that "sweet spot" gets the lowest rates and most likely will save when switching.
Drivers who don't qualify for these standards will be charged a higher premium and this can result in business not being written. The ads say "people who switch" not "people who quote" save that kind of money. That's why insurance companies can confidently advertise the savings. That is why drivers should get a wide range of price quotes. It's not possible to predict the company that will give you the biggest savings.
Learn more today
More tips and info about auto insurance can be found at the Utah Insurance Department website. Utah drivers can read consumer alerts, read industry bulletins, read enforcement actions against agents and companies, and report car insurance fraud.
Shop smart and save
As you prepare to switch companies, never skimp on coverage in order to save money. Too many times, an accident victim reduced physical damage coverage only to regret at claim time that the small savings ended up costing them much more. The aim is to purchase plenty of coverage at an affordable rate, not the least amount of coverage.
Cost effective auto insurance can be bought on the web in addition to many Draper insurance agents, so you should compare both to have the best selection. There are still a few companies who do not provide you the ability to get quotes online and many times these regional insurance providers only sell through independent insurance agents.