Posts Tagged ‘shop around for auto insurance’

Tips To Avoid Auto Insurance Rate Increases

Tuesday, June 12th, 2012

Are you paying too much for auto insurance? Your rate can go up suddenly and without warning. Sometimes simple errors can cause you to overpay for basic coverage. Here are a few tips to avoid these unscrupulous auto insurance rate hikes and protect yourself, as a consumer.

Did You Get A Ticket?

Tickets are one of the main causes for auto insurance rate hikes because insurers take this as a sign that you’re driving erratically and dangerously, thus making you more of a liability. You won’t get penalized for a parking ticket, but moving violations for running lights, speeding and reckless driving will take your insurance rates way up for a good three years.

Did You Buy A New Car?

When you’re car shopping, you may be focused on finding the best color or the car with the most cargo space. However, you should also consider how the auto insurance company will look at your purchase. Cars with expensive foreign parts will be more expensive to insure because their repair costs will be higher, should you get into an accident. Also, cars that are frequently stolen will cost more. Conversely, safety ratings and features can bring the cost of insurance down.

When Was The Last Time You Shopped For Auto Insurance?

You should take a few minutes each year to shop around for better auto insurance rates. People who take the time to review their policies always end up paying less. With websites like Promiga.com, it’s easier than ever to get a quick, free online auto insurance quote!

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How Shopping Around Can Save You Money On Your Auto Insurance

Tuesday, May 15th, 2012

You’ve probably seen the commercials and heard people tell you to “shop around” for auto insurance. This sound advice could save you hundreds — if not thousands — on your premium. It’s recommended that you get at least three quotes. If you want to save even more, get six quotes. A 2004 Progressive Insurance survey of 100,000 consumers nationwide found that auto insurance rates can vary by over $1,o00/year!!

Why Do Some Auto Insurance Companies Charge More Than Others?

Every company has its own secret algorithm for determining your risk value and how much money they’ll charge to insure you. There are also different types of insurance companies. For instance, Geico and Amica have in-house employees who sell directly to consumers online or by phone. Other insurance companies — like Allstate and State Farm — use independent contractors who work on commission to sell one company’s product. A third type of insurance company is comprised of independent agents who can sell insurance from various companies.

Where Can Drivers Get The Best Auto Insurance Rates?

Direct agents offer the best rates for their companies. Since there is no “middle-man,” you’ll save 15 percent typically. You can access these direct agents by searching for free quotes online and selecting the offer of your choice to proceed. Of course, many of these direct companies can be fussy about who they insure. If your driving record isn’t squeaky-clean, you’ll probably need to check with the larger auto insurance companies like State Farm (18 percent of the market) or Allstate (12 percent of the market) and see if an independent agent can beat your best quote.

What Discounts Do Insurance Providers Offer?

Every auto insurer also has its own set of available discounts. You can save by choosing one company to provide a combination of different types of insurance. You can get money off by taking a defensive driving course, by retiring, or just by being a good student. There are Mensa discounts, group savings by employers, money off for college kids who dorm, and safety feature discounts. Some companies also have loyalty programs that are worth asking about.

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