How to Know You're Wasting Money for Auto Insurance in Lexington

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Trust us, you're not the only one. Numerous battle for your hard-earned dollar, so it can be very hard to choose a to get the lowest rate

It's important to price shop coverage at least once a year because insurance rates are constantly changing. If you had the best rates a few years ago you will most likely find a better rate today. You can find a lot of wrong information about auto insurance on the web, but we're going to give you some great ways to put money back in your pocket.

Take advantage of discounts

Car insurance is not cheap, buy you may qualify for discounts to help offset the cost. Certain discounts will be applied at the time of quoting, but some may not be applied and must be manually applied before you will receive the discount. If they aren't giving you every credit possible, you are throwing money away.

Anti-theft Discount - Anti-theft and alarm systems can help prevent theft and earn discounts up to 10%.
Low Mileage - Keeping the miles down could qualify for lower rates on the low mileage vehicles.
Student Driver Training - Make teen driver coverage more affordable by requiring them to take driver's ed class in high school.
Pay Upfront and Save - If you pay your bill all at once instead of monthly or quarterly installments you could save 5% or more.
Military Discounts - Having a deployed family member can result in better rates.
Discount for Life Insurance - Companies who offer life insurance give lower rates if you buy a life insurance policy as well.

As a disclaimer on discounts, most credits do not apply the the whole policy. Most only apply to specific coverage prices like comprehensive or collision. Even though it may seem like all the discounts add up to a free policy, auto insurance companies aren't that generous. Any amount of discount will cut your overall premium however.

Are auto insurance companies telling the truth?

Illinois consumers get pounded daily by advertisements that promise big savings from companies such as Allstate and Progressive. All the ads say the same thing about savings if you move your policy.

How do they all make almost identical claims? It's all in the numbers.

All companies are able to cherry pick for the right customer that earns them a profit. A good example of a preferred risk could possibly be between the ages of 30 and 50, has no tickets, and drives less than 7,500 miles a year. A driver who fits that profile is entitled to the best price and most likely will cut their rates substantially.

Potential insureds who don't qualify for the "perfect" profile will be charged more money which usually ends up with the driver buying from a lower-cost company. Company advertisements say "customers who switch" not "people who quote" save that kind of money. That's the way companies can truthfully advertise the way they do.

That is why you should quote coverage with many companies. It is impossible to predict which auto insurance company will provide you with the cheapest rates.

Find out more about auto insurance

Additional information can be read on the website for the Illinois Department of Insurance found here. Illinois consumers can read consumer alerts, find disaster information, view a list of available companies, and file complaints about an insurance agent or broker.

And the best car insurance company is...

When shopping online for auto insurance, you should never buy lower coverage limits just to save a few bucks. Too many times, an insured dropped collision coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to buy enough coverage at the best price, not the least amount of coverage.

Cheap auto insurance is possible online in addition to many Lexington insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. Some auto insurance companies do not provide you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.