5 Discounts Vermillion Consumers Forget when Comparing Auto Insurance

Overpriced auto insurance can take a big chunk out of your bank account and make it impossible to make ends meet. Comparing price quotes is free and is an excellent way to lower your monthly bill. With consumers having so many insurance providers from which to choose, it is hard for the average consumer to choose the best company.

Do you qualify for a discount?

Car insurance is not cheap, but companies offer discounts that you may not even be aware of. A few discounts will automatically apply at the time of quoting, but a few need to be manually applied before you will receive the discount. If they aren’t giving you every credit you deserve, you’re paying more than you need to.

  • Drive Less and Save – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
  • Payment Discounts – If you pay your entire premium ahead of time instead of monthly or quarterly installments you can actually save on your bill.
  • Sign Early and Save – A few companies offer discounts for signing up before your current policy expires. It can save you around 10%.
  • Air Bag Discount – Vehicles with factory air bags may earn rate discounts up to 30%.
  • Resident Student – Children who are attending college and do not have a car may be able to be covered for less.

A little note about advertised discounts, some credits don’t apply to all coverage premiums. Some only reduce the price of certain insurance coverages like comprehensive or collision. So when the math indicates you can get free auto insurance, companies don’t profit that way. Any qualifying discounts will reduce your overall premium however.

To see a list of insurance companies who offer auto insurance discounts in Vermillion, click this link.

What coverages do I need?

When it comes to buying the right insurance coverage for your personal vehicles, there really is no perfect coverage plan. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions may help you determine whether or not you would benefit from professional advice.

  • How many claims can I have before being cancelled?
  • Why is insurance for a teen driver so high in Vermillion?
  • Do I need to file an SR-22 for a DUI in South Dakota?
  • Why am I required to buy high-risk coverage?
  • Can I afford low physical damage deductibles?
  • What companies insure drivers after a DUI or DWI?
  • Can I rate high risk drivers on liability-only vehicles?
  • At what point should I drop full coverage?
  • Is my nanny covered when driving my vehicle?
  • Should I rate my vehicle as pleasure use or commute?

If you can’t answer these questions then you might want to talk to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and you can get the answers you need.

Local Vermillion agents and auto insurance

A small number of people prefer to buy from a local agent and that is OK! Good agents are trained to spot inefficiencies and help in the event of a claim. One of the great benefits of getting online price quotes is you may find the lowest rates and still choose a local agent. Supporting local insurance agencies is important especially in Vermillion.

After filling out this form (opens in new window), your coverage information is immediately sent to local insurance agents in Vermillion who will give you bids for your insurance coverage. There is no reason to visit any agencies as quotes are delivered straight to your inbox.

Two types of Vermillion car insurance agents

When finding a reputable insurance agent or broker, you need to know there are two different types of agents that you can select. Agents can either be independent (non-captive) or captive. Either one can do a good job, but it’s worth mentioning how they are different because it can impact buying decisions.

Independent Agents (or Brokers)

Independent agencies are not locked into one company but rather can write business amongst many companies and potentially find a lower price. If your agent finds better pricing, your agent can switch companies and you don’t have to find a new agent. When searching for an agent, it’s a good idea to get quotes from at a minimum one independent agency for maximum quote selection.

Shown below are Vermillion independent insurance agencies that are able to give price quotes.

Remmes Agency – 605 Sharpe Dr – Vermillion, SD 57069 – (605) 624-4062
Farm Bureau Insurance – 14 W Main St # A – Vermillion, SD 57069 – (605) 624-3011
O’Connor Crop Insurance – 1105 E Cherry St – Vermillion, SD 57069 – (605) 624-8121
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Captive Insurance Agents

This type of agents write business for a single company and some examples include Allstate, AAA, Liberty Mutual and State Farm. These agents are not able to shop your coverage around so it’s a take it or leave it situation. These agents are well schooled on their company’s products and that can be a competitive advantage.

Shown below is a short list of captive insurance agencies in Vermillion willing to provide rate quotes.

American Family Insurance – 112 W Main St – Vermillion, SD 57069 – (605) 624-2025
Farm Bureau Insurance – 14 W Main St # A – Vermillion, SD 57069 – (605) 624-3011

To view a complete directory of captive insurance agents in Vermillion, click here to link.

Selecting an insurance agency requires more thought than just a cheap price. These questions are important to ask:

  • Do the coverages you’re quoting properly cover your vehicle?
  • Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
  • What will you get paid if your car is a total loss? How is that amount determined?
  • Do they specialize in personal lines coverage?
  • Are they able to influence company decisions when a claim is filed?
  • Is assistance available after office hours?

Upon getting answers to your satisfaction to all your questions and an affordable coverage quote, it’s possible that you found an insurance agency that meets your needs to service your policy. But remember, once you purchase a policy you can cancel coverage any time you want so don’t feel that you’re stuck with any specific agency for any length of time.

Additional reading for auto insurance information

Additional information can be found on the website for the South Dakota Division of Insurance. Click here for link. South Dakota drivers can learn about insurance regulations, read state legal mandates and laws, file complaints about an insurance agent or broker, and view a list of available companies.

Specific coverages

Knowing the specifics of your auto insurance policy can be of help when determining which coverages you need for your vehicles. Auto insurance terms can be impossible to understand and coverage can change by endorsement. Shown next are typical coverages found on the average auto insurance policy.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants and damage to your vehicle.

Because many people have only the minimum liability required by law (which is 25/50/25), their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Medical payments and PIP coverage

Med pay and PIP coverage provide coverage for bills like ambulance fees, nursing services and rehabilitation expenses. They are utilized in addition to your health insurance program or if you are not covered by health insurance. They cover both the driver and occupants in addition to if you are hit as a while walking down the street. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage

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Comprehensive auto coverage

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as a tree branch falling on your vehicle, theft and falling objects. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Auto liability

Liability coverage can cover damage that occurs to people or other property in an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Another option is a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things like legal defense fees, court costs, medical expenses and emergency aid. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible. South Dakota state minimum liability requirements are 25,000/50,000/25,000 but drivers should carry more coverage.

Auto collision coverage

Collision coverage pays for damage to your vehicle resulting from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for things such as damaging your car on a curb, crashing into a building, scraping a guard rail, sideswiping another vehicle and rolling your car. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to bring the cost down.

Shop smart and save

We just presented a lot of tips how to get a better price on auto insurance. The key concept to understand is the more price quotes you have, the higher the chance of saving money. You may be surprised to find that the lowest premiums are with a small local company. They may only write in your state and offer lower rates than the large multi-state companies such as Allstate and Progressive.

Cost effective auto insurance can be bought online in addition to many Vermillion insurance agents, and you should be comparing both in order to have the best chance of saving money. Some insurance companies do not provide online price quotes and many times these small insurance companies only sell through independent insurance agents.