Car Insurance in Panama - 10 Discounts You Might be Forgetting

Sick and tired of robbing Peter to pay Paul each month for car insurance? You are in the same boat as many other drivers in Oklahoma.

Big companies like State Farm, Allstate, GEICO and Progressive persitently shower you with TV and radio ads and it is difficult to sift through the bull and find the best price available.

It's important to compare rates once or twice a year since rates are constantly changing. Even if you got the lowest price a year ago you can probably find a lower rate today. There is a lot of bad advice regarding car insurance on the web, but we're going to give you some great ways to find affordable car insurance.

If you currently have car insurance, you stand a good chance to be able to cut costs considerably using these methods. Buying car insurance in Panama is not that difficult. Although Oklahoma car owners do need to know how insurance companies price online insurance because it can help you find the best coverage.

Panama car insurance quote

Comprehensive Car Insurance Comparison in Panama

There are several ways to compare rate quotes and find the best price. The best method to compare insurance prices is to perform an online rate comparison. This can be done in several different ways.

  • The recommended way to find the lowest comparison rates is to use a rate comparison form click to view form in new window. This method prevents you from having to do repetitive form submissions for each company. Taking the time to complete one form compares rates from multiple companies.
  • A different way to compare rate quotes is going to the website for each individual company to request a price quote. For example, let's assume you want rates from , and . You would have to visit each site and enter your information, which is why the first method is more popular. To view a list of companies in Panama, click here.

Whichever way you use, double check that you are using exactly the same coverage limits and deductibles for each price quote. If you have different liability limits it's not possible to truly determine the lowest rate in Panama. Just a small difference in coverages may result in a large different in cost. It's important to know that getting more free quotes will increase your chances of finding the best rates.

Take advantage of discounts

Car insurance is not cheap, but there could be available discounts that many people don't even know exist. Some discounts apply automatically when you get a quote, but a few must be specifically requested before you will receive the discount.

  • Anti-theft System - Anti-theft and alarm systems help deter theft and will save you 10% or more.
  • Service Members Pay Less - Having a deployed family member could mean lower rates.
  • Anti-lock Brake Discount - Anti-lock brake equipped vehicles are safer to drive and earn discounts up to 10%.
  • Homeowners Pay Less - Being a homeowner may trigger a car insurance policy discount because owning a home shows financial diligence.
  • Employee of Federal Government - Being employed by or retired from a federal job can earn a discount up to 10% with certain companies.
  • Discount for Life Insurance - Companies who offer life insurance give better rates if you take out life insurance from them.
  • Resident Student - Children who are attending college and do not have a car may qualify for this discount.
  • One Accident Forgiven - A handful of insurance companies will forgive one accident before raising your premiums if you are claim-free for a certain period of time.
  • Multi-policy Discount - When you combine your home and auto insurance with the same company you will save 10% to 20% off each policy.
  • Passive Restraint Discount - Vehicles with factory air bags can qualify for discounts of 20% or more.

A little note about advertised discounts, most of the big mark downs will not be given to the entire cost. Some only reduce individual premiums such as comprehensive or collision. So when it seems like you could get a free car insurance policy, you won't be that lucky. Any amount of discount will reduce your overall premium however.

To see a list of providers offering car insurance discounts in Panama, follow this link.

Additional information is located on the website for the Oklahoma Insurance Department located here. Consumers can read consumer alerts, view a list of available companies, find out industry alerts, and report car insurance fraud.