How to Know You're Paying Too Much for Car Insurance in Okolona

I can't think of anyone who cherishes buying car insurance, especially when the cost is too high. Drivers have so many to buy insurance from, and although it's a good thing to be able to choose, too many choices makes it more difficult to compare rates.

How to Lower your Car Insurance Rates

Consumers need to have an understanding of the rating factors that go into determining your car insurance rates. Knowing what influences your rates empowers consumers to make smart changes that could result in lower car insurance prices.

  • Extra add-on coverages are wasting money - There are many additional coverages that you can get tricked into buying on your policy. Coverages for personal injury protection, accidental death and additional equipment coverage may be wasting your money. These coverages may sound good when talking to your agent, but now you might not need them so eliminate them to save money.
  • Do you know you're credit rating? - A driver's credit score is a huge factor in determining your rates. Therefore, if your credit rating is lower than you'd like, you could save money insuring your by spending a little time repairing your credit. People with high credit ratings tend to be more responsible than those with poor credit.
  • How's your driving record? - Drivers who don't get tickets tend to pay less for car insurance than bad drivers. Only having one speeding ticket can bump up the cost twenty percent or more. Drivers with serious tickets such as DUI or reckless driving are required to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
  • Are you male or female? - Statistics show that women are safer drivers than men. That doesn't necessarily mean that women are BETTER drivers than men. Women and men cause accidents at a similar rate, but the male of the species cause more damage. Men also tend to have more aggressive citations such as reckless driving. Young males tend to get in the most accidents and are penalized with high car insurance rates.

car insurance in Okolona

Don't pay full price with these discounts

Companies offering auto insurance don't always advertise all available discounts very clearly, so the following is a list of some of the more common and the harder-to-find ways to save on car insurance. If you're not getting every credit you qualify for, you are paying more than you should be.

  • Defensive Driver - Completing a driver safety course can save you 5% or more if your company offers it.
  • Braking Control Discount - Vehicles equipped with ABS or steering control are safer to drive and qualify for as much as a 10% discount.
  • Good Student - This discount can get you a discount of up to 25%. The good student discount can last until age 25.
  • Accident Forgiveness - Certain companies will allow you to have one accident before hitting you with a surcharge so long as you haven't had any claims prior to the accident.
  • Homeowners Savings - Owning a home in Okolona may earn you a small savings because owning a home demonstrates responsibility.

Keep in mind that most discount credits are not given to your bottom line cost. A few only apply to the price of certain insurance coverages like liability and collision coverage. So when the math indicates you can get free auto insurance, it just doesn't work that way.

To choose insurers offering car insurance discounts in Kentucky, click this link.

The car insurance bait and switch

Consumers can't ignore all the ads for cheaper car insurance from the likes of 21st Century, Allstate and State Farm. All the companies make the same claim that you can save if you switch your coverage to them.

How does each company make the same claim? This is how they do it.

All companies have a certain "appetite" for the type of customer that makes them money. A good example of a profitable customer could be between the ages of 40 and 55, owns a home, and has great credit. A customer who matches those parameters receives the best rates and therefore will save when switching.

Drivers who don't measure up to these standards must pay a higher premium which leads to business going elsewhere. Company advertisements say "drivers who switch" not "everyone that quotes" save that much money. That is how insurance companies can advertise the savings. This illustrates why you should get a wide range of price quotes. Because you never know which company will give you the biggest savings.

Your personal situation dictates your coverage

When buying coverage for your vehicles, there isn't really a best way to insure your cars. Everyone's situation is unique so this has to be addressed. Here are some questions about coverages that might point out whether or not you will benefit from professional help.

  • Do I really need UM/UIM coverage?
  • Does my insurance cover a custom paint job?
  • Do I need to file an SR-22 for a DUI in Kentucky?
  • Does my policy cover me when driving someone else's vehicle?
  • Why am I required to buy high-risk coverage?
  • When do I need to add a new car to my policy?
  • Should I drop comprehensive coverage on older vehicles?

If it's difficult to answer those questions but one or more may apply to you, you may need to chat with an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies. It is quick, free and may give you better protection.

Additional detailed information can be read at the Kentucky Department of Insurance website. Consumers can discover disciplinary actions, find out industry alerts, file complaints about a company, and learn about insurance regulations.

Okolona car insurance quote

In the end, you save

Affordable car insurance is available from both online companies as well as from independent agents in Okolona, so you should be comparing quotes from both to have the best selection. There are still a few companies who don't offer online price quotes and usually these small insurance companies provide coverage only through local independent agents.

As you prepare to switch companies, never buy poor coverage just to save money. There are a lot of situations where an insured cut full coverage and found out when filing a claim that the small savings ended up costing them much more. The proper strategy is to buy enough coverage for the lowest price while not skimping on critical coverages.

We just showed you some good ideas how to save on car insurance. The key thing to remember is the more companies you get rates for, the more likely it is that you will get a better rate. You may even discover the lowest priced car insurance comes from a smaller regional carrier. Some small companies can often insure niche markets at a lower cost as compared to the big name companies such as .