How to Know You're Wasting Money for Auto Insurance in Miami Springs
Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Believe me when I say you're not alone.
Consumers have many to buy insurance from, and although it's nice to have multiple companies, it can be more difficult to compare rates.
It's important to compare rates at least once a year because prices are constantly changing. Just because you found the best deal two years ago you will most likely find a better rate today. Starting now, block out anything you think you know about auto insurance because you're going to get a crash course in the only way to properly buy coverages and cut your premium.
These discounts can lower your rates
Insuring your vehicles can cost a lot, but there could be available discounts that you may not know about. Some discounts apply automatically when you quote, but lesser-known reductions have to be specially asked for before you get the savings.
- Sign Online - A handful of insurance companies will discount your bill up to fifty bucks just for signing your application over the internet.
- Drive Less and Save - Fewer annual miles can qualify you for a substantially lower rate.
- Multiple Vehicles - Buying coverage for multiple vehicles on one policy can get a discount on all vehicles.
- Drivers Education - Make teen driver coverage more affordable by requiring them to complete a driver education course if it's offered in school.
- Service Members Pay Less - Being deployed with a military unit may qualify for rate reductions.
It's important to note that some of the credits will not apply the the whole policy. Most only apply to specific coverage prices like liability, collision or medical payments. So even though it sounds like having all the discounts means you get insurance for free, you're out of luck. But any discount will bring down the cost of coverage.
Are you falling for claims of savings?
Auto insurance companies such as State Farm, GEICO and Progressive continually stream ads on television and other media. They all seem to have a common claim that you can save after switching to their company. How does each company make almost identical claims? It's all in the numbers.
All the different companies are able to cherry pick for the driver that earns them a profit. An example of a desirable insured could possibly be over the age of 50, has no tickets, and chooses high deductibles. A customer getting a price quote that hits that "sweet spot" is entitled to the best price and as a result will probably save when switching.
Drivers who are not a match for these standards will have to pay a higher premium and this can result in the driver buying from a lower-cost company. The ads state "customers who switch" not "everybody who quotes" save that much. That's the way insurance companies can state the savings.
Because of the profiling, you should quote coverage with many companies. It's impossible to know which auto insurance company will give you the biggest savings.
Find out more about auto insurance
More information is available on the website for the Florida Office of Insurance Regulation found here. Florida consumers can get help finding coverage, discover disciplinary actions, report car insurance fraud, and download brochures.
Affordable insurance is out there
Lower-priced auto insurance can be sourced online and also from your neighborhood Miami Springs agents, and you should be comparing both to have the best selection. Some insurance companies may not provide you the ability to get quotes online and most of the time these smaller companies sell through independent agents.
When buying insurance coverage, never buy lower coverage limits just to save a few bucks. In many cases, an insured dropped comprehensive coverage or liability limits to discover at claim time that their decision to reduce coverage ended up costing them more. Your aim should be to buy a smart amount of coverage at the best price.
