7 Tips Shown to Save on Car Insurance Costs in Whiteford

Expensive car insurance can overdraw your personal savings and force you to prioritize other expenses. Comparison shopping is free and is an excellent way to lower your monthly bill.

You have multiple to buy insurance from, and although it's nice to have multiple companies, having more makes it harder to compare rates.

Don't pay full price with these seven discounts

Insuring your fleet can be pricey, but you may find discounts that can drop the cost substantially. A few discounts will automatically apply when you quote, but less common discounts must be asked for before you get the savings.

  • Pay Upfront and Save - If paying your policy premium upfront instead of monthly or quarterly installments you can actually save on your bill.
  • Own a Home - Simply owning a home may earn you a small savings because of the fact that having a home is proof that your finances are in order.
  • Accident Free - Drivers who don't have accidents can save substantially when compared to drivers who are more careless.
  • Accident Waiver - Certain companies allow you one accident before your rates go up if your claims history is clear for a set time period.
  • Braking Control Discount - Cars that have steering control and anti-lock brakes prevent accidents and qualify for as much as a 10% discount.
  • Multiple Policy Discount - If you have multiple policies with the same insurance company you could get a discount of at least 10% off all policies.
  • Military Rewards - Having a family member in the military can result in better rates.

As a disclaimer on discounts, many deductions do not apply to all coverage premiums. The majority will only reduce specific coverage prices like liability and collision coverage. So even though it sounds like all the discounts add up to a free policy, car insurance companies aren't that generous. Any amount of discount will bring down your premiums.

compare Whiteford car insurance rates

The car insurance bait and switch

Car insurance providers like State Farm, Allstate and GEICO regularly use ads in print and on television. They all make the same claim about savings if you move to them. How does each company make the same claim? It's all in the numbers.

Insurance companies have a preferred profile for the type of driver that earns them a profit. For example, a driver they prefer could be between 30 and 50, insures multiple vehicles, and has great credit. Any new insured who matches those parameters gets the lowest rates and therefore will save when switching.

Drivers who don't measure up to these standards will be quoted a higher premium which leads to business going elsewhere. Company advertisements say "customers who switch" not "everyone that quotes" save money. This is how companies can truthfully advertise the savings.

This emphasizes why you should get a wide range of price quotes. It's just too difficult to predict which insurance companies will give you the biggest savings.

For more Maryland car insurance information

Additional information can be found on the website for the Maryland Insurance Administration found here. Consumers can view a list of available companies, report car insurance fraud, read industry bulletins, and learn about insurance regulations.

Shop smart and save

Cheap car insurance is definitely available from both online companies and with local Whiteford insurance agents, so compare prices from both to have the best selection. There are still a few companies who do not offer you the ability to get quotes online and these regional insurance providers work with independent agents.

As you prepare to switch companies, never buy lower coverage limits just to save a few bucks. There have been many situations where drivers have reduced physical damage coverage only to discover later that the small savings ended up costing them much more. The proper strategy is to buy the best coverage you can find at the best price while still protecting your assets.