How to Know You're Paying Too Much for Auto Insurance in Eagle Lake

No one looks forward to buying auto insurance, particularly when the cost is too high.

You have so many to buy insurance from, and even though it's nice to have multiple companies, lots of choices makes it harder to compare rates.

It's important to shop coverage around occasionally because prices are constantly changing. If you had the best rates a couple years back a different company probably has better rates today. There is too much inaccurate information about auto insurance on the web, but we're going to give you some great ways to find cheap auto insurance.

Choosing the best insurance company for you in Eagle Lake is easy if you know what you're doing. Essentially everyone who is required by state law to have auto insurance stands a good chance to be able to reduce their rates. But Maine consumers do need to know how insurance companies determine prices.

More discounts equal less premium

Companies don't always advertise every available discount very clearly, so the following is a list of both the well known as well as the least known discounts you could be receiving.

Anti-lock Brakes - Cars that have steering control and anti-lock brakes prevent accidents and qualify for as much as a 10% discount.
Theft Prevention Discount - Vehicles with anti-theft systems prevent vehicle theft and will save you 10% or more.
Pay Upfront and Save - By paying your policy upfront instead of monthly or quarterly installments you could save up to 5%.
Resident Student - Youth drivers living away from home attending college without a vehicle on campus may be able to be covered for less.
E-sign - A few companies may give you up to $50 for buying a policy and signing up over the internet.
Low Mileage - Keeping the miles down could qualify for a substantially lower rate.
Drivers Education - Make teen driver coverage more affordable by requiring them to take driver's ed class in high school.
Claim Free - Good drivers with no accidents pay less compared to drivers who are more careless.
Federal Employees - Active or retired federal employment could cut as much as 10% off with certain companies.
Passive Restraint Discount - Vehicles with factory air bags or motorized seat belts may earn rate discounts of more than 20%.

Drivers should understand that some credits don't apply to your bottom line cost. Most only cut individual premiums such as comprehensive or collision. So even though they make it sound like adding up those discounts means a free policy, companies wouldn't make money that way.

Tips to Get Lower Eagle Lake Rates

Smart consumers have a good feel for the factors that come into play when calculating the rates you pay for auto insurance. Knowing what controls the rates you pay empowers consumers to make smart changes that can help you get much lower annual insurance costs.

High credit ratings translate to low rates - Your credit rating is a important factor in determining your rates. People with good credit tend to be more responsible than drivers with lower credit ratings. Therefore, if your credit score can use some improvement, you could potentially save money when insuring your by spending a little time repairing your credit.
One company can mean more discounts - The majority of insurance companies give discounts to insureds who buy several policies from them in the form of a multi-policy discount. Even though this discount sounds good, you still need to compare other company rates to verify if the discount is saving money.
Equipment add-ons that lower auto insurance rates - Owning a car with an alarm system can get you a discount on your auto insurance. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system can help prevent auto theft.
Older drivers pay less - Youthful drivers in Maine tend to be less responsible behind the wheel so they pay higher auto insurance rates. Having to add a teenage driver onto a policy can be very expensive. Older drivers tend to be more responsible, statistically cause fewer accidents and tend to be better behind the wheel.

It's not one size fits all

When it comes to buying coverage for your vehicles, there isn't really a perfect coverage plan. Everyone's needs are different and your policy should reflect that. Here are some questions about coverages that might point out if you may require specific advice.

Can I get a multi-policy discount for packaging my home and auto coverage?
Am I covered when renting a car or should I buy coverage from the car rental agency?
What can I do if my company won't pay a claim?
Why does it cost so much to insure a teen driver in Eagle Lake?
Does my personal policy cover me when driving my company car?
Is my dog or cat covered if injured in an accident?
Is my cargo covered for damage or theft?

If you can't answer these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of auto insurance companies in your area.

Switch companies and save? Really?

Companies like Allstate and Progressive regularly use ads in print and on television. All the ads have a common claim that you'll save big if you move your coverage to them. How does each company claim to save you money?

Insurance companies have a certain "appetite" for the type of customer that earns them a profit. A good example of a preferred risk might be over the age of 50, owns a home, and drives less than 10,000 miles a year. A customer getting a price quote that hits that "sweet spot" will qualify for the lowest rates and therefore will save when switching.

Potential customers who do not match these standards will be charged a more expensive rate and this can result in the customer not buying. The ad wording is "customers that switch" not "everyone that quotes" save that much money. That is how companies can advertise the way they do. That is why drivers should get a wide range of price quotes. It's impossible to know which company will provide you with the cheapest rates.

For more Maine car insurance information

More detailed Maine auto insurance information can be read at the Maine Bureau of Insurance website. Visitors are able to find out industry alerts, read consumer alerts, view a list of available companies, and read enforcement actions against agents and companies.

Affordable insurance is out there

As you go through the steps to switch your coverage, it's very important that you do not skimp on coverage in order to save money. Too many times, an insured cut full coverage and found out when filing a claim that the savings was not a smart move. The aim is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.

Budget-conscious auto insurance is possible both online as well as from independent agents in Eagle Lake, and you should be comparing both to have the best rate selection. Some auto insurance companies don't offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.