Good Car Insurance

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good car insurance

Good Car Insurance

As prices on car insurance premiums continue to rise, it might be time to start taking any opportunity you can to lower your costs, without sacrificing insurance coverage. So, what can you do to get good car insurance quotes and not break the bank? Here are a few steps you can take that will save you money.

Do Your Research on the Coverage You Need

Make sure you are aware of the facts before you start contacting the best car insurance companies for quotes. A Pennsylvania Insurance Department study showed that less than 30% of almost 100 Philadelphia insurance agents willingly volunteer discount information that could reduce premiums by 20% or more. It’s important to be able to ask about discounts or deductibles, or else you may not be given that information.

Some forms of coverage are easier to obtain than others. A good resource to use is NAIC.org. You can find contact information for the insurance office in your state. This will help you look up complaint statistics and discount records so that you can decide who is worth talking to and who isn’t.

Compare Premiums Before Buying a Policy

There is more than enough data to prove that different auto insurance companies pricing varies a lot for the same exact coverage. The price differences can be dramatic. Some insurers can charge double for the same plan, depending on your state, region, credit score, and a variety of other factors.

No matter the rates in your area, you can find a lot of variables between pricing if you take time to get quoted online. Try starting with comparison sites like good to go insurance company. There, you can you can get the best auto insurance rates for up to 10 insurers at a time. You can compare good car insurance companies like Geico, Allstate, State Farm, Progressive, and more. This is the first step you can take to lower your auto insurance cost.

There is also auto insurance pricing guides available to give you a general idea of what to look for. However, you might require more specific details for your specific needs.

Get a Handle on Your Teen’s Driving

Young drivers between the ages of 16 and 25 pay a lot more for their coverage than others. This is simply because stats show there are much riskier motorists. Teens are much more likely to have accidents. This includes distracted incidents like texting and talking while driving. As soon as they turn 25 or get married, the prices should go down quite a bit.

There are great discounts you can take advantage of if your teenager is a good student. A consistent A or B average can reduce premiums by 15%. You can also qualify for a discount if you spend most of your school year more than 100 miles away from home.

Be a Careful Driver and Save More

You can get a big discount of 10% or more on your ins bill if you have had a clean record for three years. Careful drivers that have an unblemished driving record for six or more years can get a discount of about 20%.

Other discounts you can use to save hundreds more include:

  • Being a woman who is the household’s only driver
  • Senior citizen
  • Being a participant in a survey or data-tracking program
  • Other good driving habits
  • Driving a car with multiple airbags
  • Veteran and active military discounts

Check the Rating of Your Car

The higher the claim rate of your car type, the higher your ins coverage will cost. Unfortunately, it doesn’t matter how good of a driver you are. Depending on the reliability and collision safety, you might be charged less. It’s important to research the average rates of your particular make and model to get a pricing baseline. You can then use this info to push for lower rates.

If you’re looking to buy a new car, check out CarSafety.org to look at loss data on almost every kind of automobile out there. This can help you decide what your next vehicle purchase should be, based on multiple factors.

Raise Your Deductibles and Save Hundreds Annually

What kind of deductibles can you afford without financially suffering? If you can pay for damage on your own and leave the bigger losses to the carriers, you might save a lot.

If you go for larger deductibles, you can cut your premiums by 20% and more. For example, raising your deductible from $200 to $1000 can give you around a 25% discount on your monthly premiums with select providers.

Reduce Unneeded Coverage

Get rid of comprehensive and collision coverage on an old car. If you have an older vehicle that you don’t drive very much, it doesn’t make financial sense to pay hundreds more per year for extended coverage. A company won’t pay more to fix a car than it’s worth. Depreciation happens rapidly with older automobiles. It’s smart to reduce coverage as the value decreases, especially after 5 or more years.

Get a Multi-Car Insurance Plan

If all of your cars are insured by the same company, you can get a bundling discount. It makes sense to put all of your household’s cars on the same policy. If you use the same company for other policies, such as life and home insurance, you can save about 15%. This can add up to thousands in savings over several years.

Don’t Pay for Your Policy in Installments

If you try to pay in monthly or even quarterly installments, there may be an extra price tag attached to your bill. If you can manage a lump sum, this will actually save you some money in the long run. Most insurers offer a 2% discount just for paying the premium upfront.

What is Good Car Insurance?

Just because you have cheap insurance does not mean you have adequate insurance. Good car insurance means you won’t be paying out of pocket after an accident. That’s what you should aim for when buying car insurance.
Finding the right insurance provider for your needs allows you to:

  • Be confident that you’re not paying too much for your insurance
  • Assured that you can handle yourself financially after an accident

The best way to find a good car insurance plan at the best rates is by comparison shopping.

Deciding Which Coverage is Best for You

You are required to have car insurance to meet state laws and requirements. You also need it to protect your assets. While each state has different laws for which kind of coverage you need, it’s important to look beyond just the minimum requirements. The smallest amount of legal insurance protection will probably not take care of you in an accident.

There are other types of coverage which may be better, like:

  • Collision
  • Comprehensive
  • Increased Medical payment Coverage
  • Uninsured or Underinsured motorist
  • Towing and Labor
  • GAP Coverage
  • Rental Reimbursement

Car Loans and Auto Insurance

If your car is a lease or has a loan, you may have specific insurance requirements attached to it. Make sure you are aware of this before signing a lease. Very cheap car insurance no deposit for leased cars are almost always more costly because the vehicles are new and require more coverage, such as comprehensive.

Consider Adding GAP Insurance

Many people think that your new car insurance will pay off your loan if your vehicle becomes completely totaled in an accident. Actually, the insurance will just pay the fair market value, not the entire loan.

A fair market value is typically the sales price of the car, minus depreciation. Unfortunately, cars depreciate pretty quickly. For the first 5 years, a car will depreciate by 15-25% per year.

If you are in a serious accident, you will likely have substantial costs to pay. In this case, you’ll want to have GAP and loan coverage.

To ensure that you won’t have to continue paying a loan on a car that was totaled, you can get this type of plan:

  • GAP (Guaranteed Auto Protection) insurance. It covers the difference between the amount owed on the vehicle and the amount received from an insurer when the car is totaled in an accident.
  • Loan/lease payments coverage. This protection also covers the gap, but only a percentage of the cash value of your car.

GAP coverage is worth buying if you are uncertain about the cash value of your car. You can make sure that everything is covered, even your loan, with this kind of insurance.

Get Good Auto Insurance Deals Online

Now you’re ready to get a good car insurance deal. The best rates are usually found online at comparison sites like Goodtogoinsurance. In about 5 minutes or less, you can compare the best rates from dozens of nationwide insurers. All you need is a device connected to the internet. You can even get a mobile auto insurance quote using your smartphone. Get started by simply entering your zip code and lower your premiums today.