How to Know You're Throwing Money Away for Car Insurance in Oconomowoc

Are you tired of scraping the payment together each month for car insurance? You are in the same boat as most other car owners in Wisconsin.

Big companies like State Farm, Allstate, GEICO and Progressive constantly bombard you with TV and radio ads and it is difficult to sift through the bull and effectively compare rates to find the best deal.

It's important to take a look at other company's rates before your policy renews because rates are constantly changing. Even if you got the best rates a year ago you may be paying too much now. There is a lot of bad advice regarding car insurance online, so I'm going to show you some great ways to slash your car insurance rates.

If you have car insurance now, you should be able to reduce your rates substantially using this strategy. Finding the best rates in Oconomowoc is not that difficult. Although Wisconsin car owners do need to know how the larger insurance companies price online insurance.

Comparison of Car Insurance in Oconomowoc

Most major insurance companies provide coverage prices online. The process is pretty painless as you just type in as detailed in the form. Behind the scenes, their rating system will obtain your credit score and driving record and returns a price. Online quotes helps simplify price comparisons, but having to visit different websites and fill out multiple forms can get tiresome after awhile. But it's very important to do this if you want to find better car insurance pricing.

Quote rates the easy way

A less time-consuming method to lower your car insurance bill utilizes a single form that gets price quotes from more than one company. The form is fast, reduces the work, and makes price shopping online a little more enjoyable. After your information is entered, it gets priced and you can choose your choice of the returned quotes. If a lower price is quoted, it's easy to complete the application and purchase the new policy. The whole process can be completed in less than 10 minutes and you will find out if you're overpaying now.

If you want to find out what other companies charge, click here to open in new window and submit your coverage information. If you have your current policy handy, we recommend you enter the limits and deductibles as close as possible to your current policy. This way, you will get an apples-to-apples comparison based on similar coverages.

Oconomowoc Rates are Influenced by These Factors

It's important that you understand the rating factors that go into determining your car insurance rates. Having a good understanding of what impacts premium levels enables informed choices that may reward you with lower car insurance prices.

  • Bump up deductibles to save - Insurance for physical damage to your car, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some instances where coverage would apply are a windshield shattered by a rock, damage caused by hail, and rolling your vehicle. Physical damage deductibles are how much you are willing to pay before your car insurance pays a claim. The more expense you are required to pay out-of-pocket, the less your company will charge you for insurance.
  • An active claims history can cost you - If you tend to file frequent claims, you can definitely plan on either a policy non-renewal or much higher rates. Car insurance companies in Wisconsin give cheaper rates to insureds who are claim-free. Auto insurance is meant to be used in the event of major claims that would cause financial hardship.
  • How many coverages with the same company - Most car insurance companies will give a discount to policyholders who consolidate policies with them such as combining an auto and homeowners policy. Discounts can add up to ten or even up to twenty percent in some cases. Even if you're getting this discount you still need to shop around to ensure the best deal. You may still be able to find better rates by insuring with multiple companies.
  • Safer cars are cheaper to insure - Cars with high safety ratings tend to have better insurance rates. These vehicles reduce injuries and fewer injuries translates into fewer and smaller insurance claims and more competitive rates for policyholders.
  • How's your driving record? - Your driving citation history has a huge affect on how much you pay. Careful drivers have lower premiums than bad drivers. Only having one moving violation can boost insurance rates by twenty percent. Drivers who have serious citations such as reckless driving, hit and run or driving under the influence may need to submit a SR-22 form with their state motor vehicle department in order to continue driving.
  • Battle of the sexes - The statistics show women are more cautious behind the wheel. That doesn't necessarily mean that men are worse drivers. Women and men are in accidents at a similar rate, but the males cause more damage. They also have more aggressive citations such as reckless driving. Youthful male drivers are most likely to cause an accident and thus pay the highest rates.
  • Proper usage rating affects rates - The more miles you rack up on your car every year the more you will pay for car insurance. Most insurance companies rate vehicles based upon how you use the vehicle. Autos left parked in the garage get more affordable rates than vehicles that are driven to work every day. Make sure your car insurance policy is rated on how each vehicle is driven.
  • Your job and insurance rates - Did you know your job can affect your rates? Jobs such as real estate brokers, executives and dentists tend to have the highest average rates because of high stress levels and lengthy work days. Other occupations such as farmers, historians and homemakers receive lower rates.

These discounts can lower your rates

Companies that sell car insurance do not advertise all their discounts in a way that's easy to find, so the following is a list of some of the more common as well as the least known ways to save on car insurance.

  • Homeowners Pay Less - Owning a house in Oconomowoc may earn you a small savings because owning a home demonstrates responsibility.
  • Employee of Federal Government - Simply working for the federal government can save as much as 8% with select insurance companies.
  • Anti-theft Discount - Vehicles equipped with anti-theft or alarm systems help deter theft and will save you 10% or more.
  • Service Members Pay Less - Having a family member in the military could mean lower rates.
  • Good Students Pay Less - Getting good grades can get you a discount of up to 25%. The good student discount can last until age 25.
  • 55 and Retired - Older drivers may qualify for better car insurance rates.
  • Drivers Ed for Students - Require your teen driver to complete a driver education course in school.

A little note about advertised discounts, many deductions do not apply to the entire cost. Some only reduce individual premiums such as liability, collision or medical payments. So despite the fact that it appears it's possible to get free car insurance, you won't be that lucky.

For a list of companies offering car insurance discounts in Oconomowoc, click this link.

Even more information can be read at the Wisconsin Office of the Commissioner of Insurance website. Consumers can report car insurance fraud, download brochures, read consumer alerts, and find disaster information.

Affordable insurance is out there

The cheapest car insurance can be found from both online companies and also from your neighborhood Oconomowoc agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies may not provide online quoting and most of the time these small insurance companies sell through independent agents.

While you're price shopping online, it's not a good idea to reduce needed coverages to save money. In many cases, an accident victim reduced full coverage and found out when filing a claim they didn't purchase enough coverage. Your aim should be to find the BEST coverage at a price you can afford.