Consumer Tested Strategies to Save on Randallstown Auto Insurance

Paying for high-priced auto insurance can dwindle your personal savings and make it hard to pay other bills. Comparison shopping is a smart way to reduce premiums and put more money in your pocket. With consumers having so many options when it comes to auto insurance, it can be diffult for consumers to find the best company.

Randallstown Rates are Influenced by These Factors

Consumers need to have an understanding of some of the elements that go into determining the price you pay for auto insurance. When you know what positively or negatively impacts premium levels enables informed choices that could result in lower auto insurance prices.

Listed below are some of the factors auto insurance companies consider when setting premiums.

  • Increase deductibles and save - Your deductibles represent how much money you are willing to pay in the event of a claim. Physical damage coverage, 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 colliding with a building, collision with an animal, and burglary. The more money you are required to pay out-of-pocket, the bigger discount you will receive.
  • With age comes lower rates - Teen drivers in Maryland are statistically proven to get distracted easily when driving so auto insurance rates are higher. If you've ever had to add a young driver to your auto insurance policy can break the bank. More mature drivers are more responsible, tend to file fewer claims and get fewer tickets.
  • Credit scores impact auto insurance rates - A driver's credit score is a huge factor in determining what you pay for auto insurance. If your credit history is lower than you'd like, you could save money insuring your by improving your rating. Drivers who have high credit ratings tend to be better drivers and file fewer claims than drivers who have poor credit.
  • One company can mean more discounts - Most companies will award you with lower prices to customers who consolidate policies with them, otherwise known as a multi-policy discount. Even if you're getting this discount it's in your best interest to comparison shop to ensure the best deal.
  • Careful drivers pay lower rates - Only having one speeding ticket can boost insurance rates by as much as thirty percent. Careful drivers tend to pay less for car insurance than bad drivers. Drivers with serious tickets such as reckless driving, hit and run or driving under the influence are required to submit a SR-22 form with their state DMV in order to continue driving.

Are you getting all your discounts?

Companies don't necessarily list all available discounts very well, so here is a list both well-publicized and the harder-to-find auto insurance savings. If you don't get every credit you deserve, you are paying more than you should be.

  • Multi-car Discount - Buying coverage for more than one vehicle with the same company qualifies for this discount.
  • Student in College - Children who live away from home and do not have a car can be insured at a reduced rate.
  • Anti-lock Brake Discount - Vehicles equipped with ABS or steering control are safer to drive and therefore earn up to a 10% discount.
  • Anti-theft Discount - Anti-theft and alarm systems are stolen less frequently and therefore earn up to a 10% discount.
  • Discount for New Cars - Buying coverage on a new vehicle can cost up to 25% less since new cars are generally safer.
  • Paperless Signup - Certain companies will discount your bill up to fifty bucks for buying your policy online.

A little note about advertised discounts, most credits do not apply to the overall cost of the policy. Most only cut the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears all the discounts add up to a free policy, you won't be that lucky.

To choose insurers offering auto insurance discounts in Maryland, follow this link.

How can Allstate, GEICO and Progressive save drivers who switch?

Maryland consumers can't ignore all the ads for car insurance savings by Allstate, GEICO and Progressive. All the companies say the same thing about savings if you switch to their company.

But how can every company make almost identical claims? This is how they do it.

All companies have a preferred profile for the driver that makes them money. An example of a profitable customer could possibly be between the ages of 30 and 50, insures multiple vehicles, and drives less than 10,000 miles a year. A customer getting a price quote who fits that profile will qualify for the lowest rates and as a result will probably save a lot of money.

Potential insureds who are not a match for this ideal profile must pay more money which usually ends up with the driver buying from a lower-cost company. The ad wording is "drivers who switch" not "everybody who quotes" save that much. This is how companies can truthfully advertise the way they do. This illustrates why you should get a wide range of price quotes. It's impossible to know which insurance companies will provide you with the cheapest rates.

Tailor your coverage to you

When buying proper insurance coverage for your personal vehicles, there really is no cookie cutter policy. Everyone's situation is unique and a cookie cutter policy won't apply. For instance, these questions may help you determine whether you might need an agent's assistance.

  • Can I afford to buy a different vehicle if my vehicle is totaled?
  • What are Maryland no-fault laws?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I need special endorsements for business use of my vehicle?
  • Should I file a claim if it's only slightly more than my deductible?
  • Does my personal policy cover me when driving my company car?
  • Is my dog or cat covered if injured in an accident?
  • What can I do if my company won't pay a claim?

If you don't know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It is quick, free and may give you better protection.

More sites with auto insurance information

Even more information is available at the Maryland Insurance Administration website. Maryland consumers can report car insurance fraud, read enforcement actions against agents and companies, find out industry alerts, and read consumer alerts.

Other informative sites include this link for Maryland auto insurance quotes and this page for help finding agents in Randallstown, MD.

Randallstown auto insurance comparison

In the end, you save

Cheaper auto insurance can be found online and also from your neighborhood Randallstown agents, and you should compare price quotes from both in order to have the best chance of saving money. Some auto insurance companies may not provide online price quotes and usually these smaller companies provide coverage only through local independent agents.

As you go through the steps to switch your coverage, do not buy poor coverage just to save money. In too many instances, drivers have reduced comprehensive coverage or liability limits to discover at claim time that the savings was not a smart move. Your focus should be to purchase a proper amount of coverage for the lowest price while not skimping on critical coverages.

You just read a lot of information how to save on auto insurance. The key thing to remember is the more rate comparisons you have, the better likelihood of reducing your rate. Consumers may even find the lowest rates come from a smaller regional carrier. Some small companies may cover specific market segments cheaper than the large multi-state companies such as .