Tightwads Guide to Saving on North Lake Auto Insurance

Expensive auto insurance can dwindle your savings account and force you to make sacrifices. Comparison shopping is a great way to help make ends meet.

Since consumers have many companies and agents to choose from, it is hard for the average consumer to find the lowest price insurer.

North Lake Rates are Influenced by These Factors

Consumers need to have an understanding of the factors that play a part in calculating the price you pay for auto insurance. When you know what positively or negatively impacts premium levels enables informed choices that will entitle you to better auto insurance rates.

Shown below are a few of the "ingredients" auto insurance companies consider when setting prices.

Save money with special equipment - Purchasing a vehicle with an alarm system can help lower your rates. Theft prevention devices like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping auto theft.
Pleasure use saves money - The higher the mileage driven in a year's time the higher your rate. Most insurance companies apply a rate based upon how you use the vehicle. Cars that are left in the garage qualify for better rates as compared to vehicles used primarily for driving to work. Verify your auto insurance declarations sheet properly reflects the correct usage for each vehicle.
Policy add-ons can waste money - There are quite a few add-on coverages that can waste your money on your auto insurance policy. Things like personal injury protection, accident forgiveness and term life insurance are some examples. These may sound like a good investment when you first buy your policy, but if they're wasting money remove them from your policy.
Multi-policy discounts can save money - Some insurance companies provide better rates to customers who buy several policies from them, otherwise known as a multi-policy discount. Even if you're getting this discount you still need to comparison shop to ensure the best deal.
Higher deductibles cost less - The deductibles define the amount you are willing to pay out-of-pocket in the event of a claim. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some instances where coverage would apply could be running into the backend of another car, damage from fire, and burglary. The higher the amount you are required to pay out-of-pocket, the bigger discount you will receive.

More discounts equal less premium

Auto insurance companies don't list every discount very well, so we took the time to find both well-publicized as well as the least known discounts you could be receiving.

Pay Now and Pay Less - By paying your policy upfront instead of making monthly payments you may reduce your total bill.
Life Insurance Discount - Companies who offer life insurance give a break if you buy life insurance from them.
Safety Course Discount - Taking a course in driver safety could cut 5% off your bill if your company offers it.
Anti-theft System - Vehicles with anti-theft systems are stolen less frequently and will save you 10% or more.
Multiple Cars - Having all your vehicles with the same company may reduce the rate for each vehicle.
Save over 55 - If you're over the age of 55, you may receive better auto insurance rates.

As a disclaimer on discounts, some credits don't apply to your bottom line cost. A few only apply to individual premiums such as liability and collision coverage. So when it seems like you would end up receiving a 100% discount, auto insurance companies aren't that generous.

To choose insurance companies with discount auto insurance rates in Wisconsin, click here.

Switch companies and save? Really?

Auto insurance providers like State Farm, Allstate and GEICO consistently run ads in print and on television. They all have a common claim about savings if you change to their company. But how can every company make almost identical claims?

Different companies have a preferred profile for the driver that makes them money. For example, a driver they prefer could possibly be between 25 and 40, has no prior claims, and chooses high deductibles. A customer getting a price quote that hits that "sweet spot" receives the best rates and therefore will save a lot of money.

Potential insureds who do not match this ideal profile will be quoted more money and this can result in the driver buying from a lower-cost company. Company advertisements say "customers that switch" not "everyone that quotes" save that much. This is how companies can truthfully state the savings. This emphasizes why you should quote coverage with many companies. It's impossible to know which insurance companies will give you the biggest savings.

It's not one size fits all

When buying the right insurance coverage for your personal vehicles, there really is no cookie cutter policy. Everyone's needs are different and your policy should reflect that. Here are some questions about coverages that can help discover if you would benefit from an agent's advice.

Are my tools covered if they get stolen from my vehicle?
What happens if I owe more than my vehicle is worth?
Do I really need UM/UIM coverage?
Do I need special endorsements for business use of my vehicle?
Can I afford to buy a different vehicle if my vehicle is totaled?
Should I put collision coverage on all my vehicles?
Are there companies who specialize in insuring high-risk drivers?

If you can't answer these questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Even more information can be found at the Wisconsin Office of the Commissioner of Insurance website. Wisconsin consumers can view a list of available companies, file complaints about an insurance agent or broker, discover disciplinary actions, and read consumer alerts.

Other informative sites include this page for auto insurance prices in Wisconsin and this list of insurance agents in North Lake, WI.

Shop smart and save

When buying insurance coverage, do not buy poor coverage just to save money. There have been many situations where consumers will sacrifice physical damage coverage only to discover later that their decision to reduce coverage ended up costing them more. The proper strategy is to buy enough coverage at a price you can afford while still protecting your assets.

Cheap auto insurance is attainable online and also from your neighborhood North Lake agents, so you should compare both to have the best chance of lowering rates. Some insurance companies may not provide online price quotes and these regional insurance providers work with independent agents.