Car Insurance in Providence, KY - 7 Tricks to Save Money

Scraping up a payment for overpriced car insurance can take a big chunk out of your savings account and make it impossible to make ends meet. Doing a price comparison is free and is an excellent way to make sure you're not throwing money away.

Big-name insurance companies like State Farm, Allstate, GEICO and Progressive persitently shower you with catchy ads and it is difficult to sift through the bull and effectively compare rates to find the best deal.

If you have car insurance now, you should be able to lower your premiums substantially using these techniques. Choosing the best insurance company for you in Providence is easy if you know what you're doing. But Kentucky car owners do need to know how insurance companies price insurance differently and use this information to your advantage.

More discounts equal less premium

Auto insurance companies don't list every discount in a way that's easy to find, so we break down some of the more common and the more hidden ways to save on car insurance.

Payment Method - If paying your policy premium upfront instead of monthly or quarterly installments you could save up to 5%.
Auto/Life Discount - Select insurance companies reward you with better rates if you take out a life insurance policy as well.
New Car Discount - Adding a new car to your policy is cheaper since new cars are generally safer.
Lower Rates for Military - Having a family member in the military may qualify for rate reductions.
Anti-theft Discount - Vehicles equipped with anti-theft or alarm systems help deter theft and qualify for as much as a 10% discount.
Clubs and Organizations - Belonging to a civic or occupational organization could trigger savings when shopping for car insurance.
Claim Free - Drivers who don't have accidents can save substantially when compared to drivers who are more careless.

Consumers should know that most discount credits are not given to your bottom line cost. Most only reduce the cost of specific coverages such as liability and collision coverage. So when it seems like it's possible to get free car insurance, companies don't profit that way.

It's not one size fits all

When it comes to buying adequate coverage for your personal vehicles, there really is not a "perfect" insurance plan. Everyone's needs are different so this has to be addressed. Here are some questions about coverages that can help discover if you may require specific advice.

Are my tools covered if they get stolen from my vehicle?
When does my teenage driver need to be added to my policy?
Who is covered when they drive my vehicle?
Am I covered when pulling a rental trailer?
Do I need special endorsements for business use of my vehicle?
Do I qualify for additional discounts?
Will I be non-renewed for getting a DUI or other conviction?

If it's difficult to answer those questions but a few of them apply, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier

Switch companies and save? Really?

Car insurance providers like State Farm, Allstate and GEICO continually stream ads in print and on television. They all make the same claim that you'll save big after switching your coverage to them. How can each company make the same claim?

All companies have a preferred profile for the type of customer that earns them a profit. For example, a driver they prefer could be over the age of 50, has no prior claims, and has a high credit rating. Any new insured who matches those parameters will get the preferred rates and therefore will save when they switch companies.

Consumers who do not match the requirements will be quoted higher rates which leads to business going elsewhere. The ads state "people who switch" not "everyone that quotes" save that much money. This is how companies can state the savings. This emphasizes why you should quote coverage with many companies. It's just too difficult to predict which insurance companies will have the lowest rates.

More detailed Kentucky car insurance information can be found at the Kentucky Department of Insurance website. Consumers can view a list of available companies, view agent and company licensing information, file complaints about an insurance agent or broker, and read consumer alerts.

Shop smart and save

As you restructure your insurance plan, it's not a good idea to buy lower coverage limits just to save a few bucks. There have been many situations where consumers will sacrifice uninsured motorist or liability limits only to regret that they should have had better coverage. The proper strategy is to get the best coverage possible at an affordable rate while still protecting your assets.

Discount car insurance can be purchased from both online companies as well as from independent agents in Providence, and you should be comparing both to get a complete price analysis. Some insurance companies don't offer you the ability to get quotes online and these regional insurance providers work with independent agents.