Tightwads Guide to Saving on Elkton Auto Insurance

Nobody likes having to buy auto insurance, especially knowing they are paying too much.

Because you have many online and local companies to choose from, it's difficult to find the cheapest provider.

It's important to check auto insurance prices periodically since insurance rates are constantly changing. Despite the fact that you may have had the best deal a year ago you can probably find a better price now. So just forget anything you know (or think you know) about auto insurance because it's time to teach you the only way to save money, get proper coverage and the best rates.

Buying affordable protection in Elkton is simple if you know the tricks. Essentially everyone who has to buy auto insurance will be able to cut their insurance bill. Nevertheless, Kentucky vehicle owners do need to know how insurance companies compete online and take advantage of how the system works.

What determines how much you pay?

Consumers need to have an understanding of the different types of things that help determine auto insurance rates. When you know what positively or negatively determines base rates allows you to make educated decisions that may reward you with big savings.

Men pay higher rates - Statistics show women tend to be less risk to insure than men. However, this does not mean women are better drivers. They both cause accidents at about the same rate, but the males have costlier accidents. They also receive more costly citations like reckless driving and DUI. Male drivers age 16 to 19 are the most expensive to insure and are penalized with high auto insurance rates.
Traffic citations inflate rates - Just one speeding ticket can increase rates by twenty percent. Good drivers get better rates compared to drivers with tickets. Drivers who have flagrant citations such as DWI, reckless driving or hit and run convictions may need to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to keep their license.
With age comes lower rates - Teenage drivers in Kentucky are known to be more careless behind the wheel so auto insurance rates are higher. Parents adding a young driver to your policy can be quite pricey. Older drivers are viewed as being more responsible, file fewer claims and tend to be better behind the wheel.
How many coverages with the same company - Many insurers will give a discount to people who buy several policies from them, otherwise known as a multi-policy discount. If you currently are using one company, it's still a good idea to comparison shop to make sure you are getting the best deal.

Don't pay full price with these discounts

Insuring your vehicles can cost a lot, but there are discounts available to cut the cost considerably. Some discounts apply automatically when you purchase, but lesser-known reductions have to be specifically requested before being credited.

Accident Forgiveness - Some insurance companies allow you one accident before hitting you with a surcharge as long as you don't have any claims for a particular time prior to the accident.
Good Student - This discount can be rewarded with saving of up to 25%. The discount lasts well after school through age 25.
College Student - Kids in college who live away from home and do not have access to a covered vehicle may be able to be covered for less.
Theft Prevention System - Cars that have factory anti-theft systems are stolen less frequently and earn discounts up to 10%.
Military Rewards - Being on active duty in the military may qualify for rate reductions.
Sign Online - A handful of insurance companies give back up to $50 simply for signing online.
Driver Safety - Taking part in a course teaching defensive driving skills can save you 5% or more if your company offers it.

It's important to understand that most discounts do not apply to the entire policy premium. Most only cut specific coverage prices like liability, collision or medical payments. Just because you may think having all the discounts means you get insurance for free, it doesn't quite work that way. Any qualifying discounts will help reduce your premiums.

To choose companies who offer auto insurance discounts in Kentucky, click here to view.

The auto insurance bait and switch

Auto insurance companies such as State Farm, GEICO and Progressive continually stream ads in print and on television. They all seem to make an identical promise of big savings after switching to them. But how can every company say the same thing? It's all in the numbers.

All the different companies have a certain "appetite" for the type of driver that makes them money. An example of a desirable insured might be profiled as over the age of 50, a clean driving record, and has excellent credit. A propective insured who meets those qualifications will qualify for the lowest rates and therefore will save a lot of money.

Consumers who don't measure up to this ideal profile will have to pay higher prices and ends up with business not being written. The ad wording is "customers who switch" not "everyone that quotes" save money. That is how insurance companies can confidently make those claims.

Because of the profiling, you should get as many quotes as possible. It's not possible to predict which company will have the lowest rates.

Your personal situation dictates your coverage

When buying proper insurance coverage for your vehicles, there really is no one size fits all plan. Every situation is different so your insurance should reflect that Here are some questions about coverages that may help highlight whether or not you may require specific advice.

Does my policy cover me when driving someone else's vehicle?
Do I need to file an SR-22 for a DUI in Kentucky?
What are Kentucky no-fault laws?
Am I covered when renting a car or should I buy coverage from the car rental agency?
Do I have coverage when using my vehicle for my home business?
Does my personal policy cover me when driving my company car?

If you're not sure about those questions then you might want to talk to an agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.

Additional Kentucky consumer information

Additional auto insurance information is available on the website for the Kentucky Department of Insurance found here. Kentucky drivers can learn about insurance regulations, file complaints about a company, read enforcement actions against agents and companies, and read consumer alerts.

Other informative sites include this site for Kentucky auto insurance information and see this list of insurance agents in Elkton.

Final considerations

Low-cost auto insurance can be bought on the web and with local Elkton insurance agents, and you should be comparing both in order to have the best price selection to choose from. Some companies do not offer online price quotes and most of the time these smaller companies sell through independent agents.

In this article, we covered many tips how you can save on auto insurance. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. You may be surprised to find that the biggest savings come from some of the smallest insurance companies. Some small companies can often provide lower rates in certain areas as compared to the big name companies such as .

While you're price shopping online, do not buy poor coverage just to save money. In many cases, someone dropped comprehensive coverage or liability limits to discover at claim time they didn't purchase enough coverage. Your aim should be to purchase a proper amount of coverage at the best price.