How to Know You're Throwing Money Away for Auto Insurance in Newcastle

Have you had enough of scraping the payment together each month for car insurance? You are in the same boat as many other Wyoming drivers.

Insurance companies such as State Farm, Allstate, GEICO and Progressive constantly blast consumers with advertising and it is challenging if not impossible to sift through the bull and do the work needed to find the best deal.

It's important to compare prices once or twice a year because prices are constantly changing. If you had the best deal six months ago there is a good chance you can find better rates now. So just forget all the misinformation about auto insurance because you're going to get a crash course in the only way to find lower rates on auto insurance.

How to Lower your Auto Insurance Rates

Consumers need to have an understanding of some of the elements that come into play when calculating the rates you pay for auto insurance. Having a good understanding of what influences your rates empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

The list below includes some of the factors used by your company to calculate rates.

Marriage pays dividends - Being married actually saves money when buying auto insurance. It translates into being more mature and it's statistically proven that drivers who are married are more cautious.
Claim-free discounts can add up - If you are a frequent claim filer, you can definitely plan on either policy cancellation or increased premiums. Car insurance companies in Wyoming provide cheaper rates to drivers who do not file claims often. Your insurance policy is intended for major claims that would cause financial hardship.
Your car's features help determine rates - Driving a car that has an advanced theft prevention system can help bring down rates. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all hinder your car from being stolen.
Liability insurance protects assets - The liability section of your policy will protect you if ever you are found liable for personal injury or accident damage. Liability provides legal defense coverage which can be incredibly expensive. This coverage is very inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.
Extra add-on coverages are wasting money - There are a lot of extra bells and whistles that you can buy when buying auto insurance. Insurance for rental car reimbursement, towing coverage and additional equipment coverage are examples of these. These coverages may sound good at first, but now you might not need them so eliminate the coverages to reduce your premium.
More miles equals more premium - The more you drive every year the more you will pay for auto insurance. Almost all companies charge to insure your cars based on their usage. Vehicles used primarily for pleasure use can get a lower rate than vehicles that are driven to work every day. Double check that your auto insurance policy is rated on the correct driver usage, because it can save money.
Do you qualify for a multi-policy discount? - The majority of companies will give a discount to insureds who consolidate policies with them such as combining an auto and homeowners policy. Discounts can be anywhere from five to ten percent in most cases. Even with this discount, you may still want to comparison shop to verify if the discount is saving money. Consumers may find better rates by splitting coverages up.

Compare the Market for Auto Insurance in Newcastle

All major auto insurance companies allow you to get price estimates on their websites. This process is quite simple as you just type in the amount of coverage you want as detailed in the form. After the form is submitted, the system will obtain your credit score and driving record and quotes a price. Online quotes streamlines rate comparisons, but having to visit each company's website and repetitively fill out multiple forms can be a bit repetitive. But it's very important to perform this step in order to find the best price on auto insurance.

The preferred way to find cheaper rates uses one form that gets price quotes from multiple companies. The form is fast, reduces the work, and makes online quotes a lot less work. Once the form is submitted, it is rated and you are able to buy your choice of the resulting price quotes. If the quotes result in lower rates, it's easy to complete the application and purchase the new policy. The entire process takes just a few minutes to complete and could lower your rates considerably.

To find out if lower rates are available, click here to open in new window and submit your coverage information. If you have a policy now, it's recommended you type in coverages and limits exactly as shown on your declarations page. This makes sure you will have comparison quotes for the exact same coverage.

Are you getting all your discounts?

Companies offering auto insurance don't list all their discounts in a way that's easy to find, so here is a list both the well known and the more hidden auto insurance savings.

Homeowners Pay Less - Owning a house in Newcastle may trigger a auto insurance policy discount because of the fact that having a home requires personal responsibility.
Drivers Ed for Students - Cut your cost by having your teen driver complete a driver education course in high school.
Pay Upfront and Save - If you pay your bill all at once instead of making monthly payments you could save up to 5%.
Organization Discounts - Being a member of a civic or occupational organization could qualify you for a break on auto insurance.
Defensive Driving Course - Successfully completing a defensive driving course could save 5% or more if your company offers it.

It's important to note that most of the big mark downs will not be given to the entire cost. Most cut the cost of specific coverages such as liability, collision or medical payments. So when the math indicates adding up those discounts means a free policy, you're out of luck.

To choose companies with the best auto insurance discounts in Newcastle, follow this link.

How can State Farm, GEICO and Progressive save drivers who switch?

Auto insurance companies such as State Farm, GEICO and Progressive regularly use ads on television and other media. They all seem to say the same thing that you can save if you move your coverage to them. How can each company claim to save you money?

Insurance companies can use profiling for the type of customer that makes them money. An example of a desirable insured might be a mature driver, has no tickets, and has a high credit rating. A customer getting a price quote who fits that profile gets the lowest rates and as a result will probably save when they switch companies.

Potential customers who are not a match for the requirements will have to pay higher prices which usually ends up with the customer not buying. The ads say "people who switch" not "everybody who quotes" save that much money. That's why insurance companies can state the savings. Because of the profiling, you need to get as many quotes as possible. It's impossible to know the company that will have the lowest rates.

Additional detailed information is available at the Wyoming Insurance Department website. Visitors are able to get help finding coverage, download brochures, view a list of available companies, and find out which companies have the most complaints.

The best insurance company isn't always the cheapest

Lower-priced auto insurance is possible both online as well as from independent agents in Newcastle, and you need to price shop both so you have a total pricing picture. Some insurance companies don't offer online price quotes and most of the time these smaller companies sell through independent agents.

As you restructure your insurance plan, it's not a good idea to reduce coverage to reduce premium. In many cases, an insured dropped comprehensive coverage or liability limits to discover at claim time that they should have had better coverage. Your aim should be to purchase plenty of coverage at an affordable rate.