How does it sound to own a car but not car insurance? Scary right? If you maintain a safe driving record, you can get car insurance at lower rates. It is fun, however, there are a few tactics to get yourself the best value car insurance. The vehicle is totalled when an accident occurs, and the insurance company pays for the value of the destroyed car. The car insurance payout is determined by the value of the vehicle you drive before you wreck it, but the standard insurance policy will not pay for the cost of an equivalent model. Even though the car insurance premiums may vary from state to state or from company to company, the three common factors are always considered, i.e. you, your car, and the type of insurance you want to buy.
Strategies to Remember
Following are the strategies to get the best value car insurance –
Pay attention to the road
The first and foremost tip to cut car costs is to be attentive while driving because the more cautious a person will be while going, the more he will avoid road accidents- the events that generally hike your insurance rates.
Look for better car insurance rates
Every year or two, try obtaining quotes from different competing companies on the market to understand the benefits so that you can shop for better insurance rates. Since cheap doesn’t always mean good, and lower-priced companies are not always the wisest, you have to look for a better value that meets your needs. Even though the financial strength of the company matters, but what exactly your contract covers is also essential.
Improve the credit rating
Credit rating can be a huge factor in determining insurance premiums. Keeping a higher rating as a driver’s record is essential in determining auto insurance costs.
Discounts on getting anti-theft devices
There is a high possibility to lower down the annual premiums if individuals install anti-theft devices. The car alarms and LoJacks are the two kinds of devices that you might want to inquire about. GEICO offers a potential savings of 25% if you have an anti-theft device installed in your car.
Communicate with your agent
It is highly recommendable to seek expert advice from your agent about cost savings and discount pricing. There are some special discounts available for the military personnel and employees of a particular company. Speak to your agent to understand the policies and compare the companies in a better way.
Research on additional discounts
The insurers provide significant discounts like agreements to receive e-bills and documentation, offers that let you pay the entire annual amount at once, etc.
Ditch the extra coverage that you may not need
Read your policy thoroughly and ask to remove the coverage you don’t need, such as roadside assistance or car rental coverage.
Use Mass transit
When a person signs up for insurance, the company generates a questionnaire asking about the miles covered in the insured automobile per year. Use mass transit to attain fewer miles so that you can decrease the mileage before incurring a discount. Don’t forget to check with your provider about the miles you have currently driven, as most can give you an improved insurance quote.
Take a defensive driving course
Some insurance companies provide a discount for those who have completed an approved defensive driving course. Make sure to ask your insurance company about the discount before signing up for a class.
Seek advantage of multi-car benefits
Ask your agent to see if you qualify for this benefit. These discounts range from 1% to 39%. You have to show the proof to your insurance agent if one of your drivers is a teen.
Best value car insurance companies of the year
For gaining the best rates and discounts, choose GEICO without any hesitation or second thoughts. Its coverage includes liability coverage, mechanical breakdown insurance, rental car reimbursement, uninsured motorist coverage etc.
If you want a personalized experience, then you should try the StateFarm Insurance Company. They have a helpful mobile App too. They provide reasonably extensive coverage like collision and comprehensive, rideshare insurance, GAP insurance, emergency roadside assistance, medical payment and personal injury protection coverage.
This Company has been awarded for the best claims satisfaction. They provide multi-vehicle and multi-policy discounts, auto-pay and paid in exclusive discounts, E-discount for consumers who go paperless etc. But they currently don’t serve in Hawaii.
USAA is best known to serve the members of the military and their families. They offer coverage and discount offers like bodily injury liability, property damage liability, personal injury protection and medical payments, etc.
This insurance company is usually for high-risk drivers. The Progressive offers Umbrella insurance policy, GAP coverage, property damage liability, collision and comprehensive coverage, bodily injury liability etc.
This is the best insurance company for young drivers. Don’t forget to check the eligibility criteria before signing up for the policy. The youthful drivers can get a discount of up to 20%, the multi-car and multi-policy discount up to 25%. Since Erie has an App and is available on iOs and Android, the customers can read the rest of the policy details and information, pay the bills, and track the status of their claims on the App.