5 Top Tips to Reduce Auto Insurance Costs in Henderson

No one likes paying for auto insurance, particularly when they are paying too much.

With so many auto insurance companies to choose from, it can be challenging to find the most cost effective insurance company.

How to Compare Auto Insurance Quotes in Henderson

Most companies such as Allstate, GEICO and Progressive give insurance quotes on their websites. Getting quotes is pretty easy as you just type in your personal and coverage information into a form. After the form is submitted, their system automatically orders reports for credit and driving violations and gives you a price quote based on these and other factors. Online price quotes makes comparing rates easy, but the process of having to visit different websites and type in the same information can be a bit tiresome and repetitive. But it’s very important to have as many quotes as possible in order to get a better rate.

Isn’t there an easier way to compare rates?

A quicker way to find lower prices utilizes a single form to get prices from several companies at one time. The form is fast, requires less work, and makes price shopping online much simpler. After sending the form, your coverage is rated and you can select any or none of the price quotes you receive. If the quotes result in lower rates, you can simply submit the application and buy the new coverage. It takes just a few minutes to complete and may save quite a bit of money.

If you want to find out how much you can save on auto insurance, click here and submit your coverage information. If you have a policy now, it’s recommended you enter the coverage information as shown on your current policy. This ensures you will receive a fair comparison for exact coverage.

The fine print in auto insurance ads

Auto insurance providers like Allstate, GEICO and Progressive consistently run ads in print and on television. They all have a common claim of big savings if you change your coverage to them. But how can every company make the same claim?

All companies can use profiling for the type of customer they prefer to insure. A good example of a preferred risk could possibly be a mature driver, a clean driving record, and drives less than 7,500 miles a year. Any new insured who matches those parameters will get very good rates and as a result will probably save a lot of money.

Drivers who are not a match for the “perfect” profile must pay higher premiums and this can result in the driver buying from a lower-cost company. The ads say “people who switch” but not “drivers who get quotes” save that much money. That’s the way companies can claim big savings. This illustrates why it is so important to compare many company’s rates. It’s just too difficult to predict which auto insurance company will fit your personal profile best.

Don’t miss out on these 5 money-saving discounts

Companies that sell car insurance don’t list all their discounts in an easy-to-find place, so here is a list both the well known as well as the least known ways to save on auto insurance.car insurance image

  • Multiple Vehicles – Insuring multiple vehicles on one policy may reduce the rate for each vehicle.
  • No Charge for an Accident – Certain companies permit an accident before hitting you with a surcharge if you are claim-free for a particular time prior to the accident.
  • E-sign – A handful of insurance companies may give you up to $50 just for signing your application over the internet.
  • Safe Drivers – Insureds without accidents can get discounts for up to 45% lower rates than drivers with accident claims.
  • No Claims – Drivers with accident-free driving histories pay much less as compared to accident-prone drivers.

A little note about advertised discounts, most discount credits are not given to all coverage premiums. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. Even though it may seem like you could get a free auto insurance policy, companies wouldn’t make money that way.

To choose providers with the best auto insurance discounts in Kentucky, follow this link.

Auto insurance coverages 101

Having a good grasp of your auto insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. Auto insurance terms can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverage types found on most auto insurance policies.

Coverage for medical expenses – Med pay and PIP coverage kick in for immediate expenses for things like prosthetic devices, dental work, X-ray expenses and ambulance fees. They can be used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants in addition to if you are hit as a while walking down the street. PIP coverage is not universally available and may carry a deductible

Comprehensive auto insurance – This covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like a broken windshield, falling objects, a tree branch falling on your vehicle and hail damage. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Coverage for uninsured or underinsured drivers – This coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your vehicle.

Due to the fact that many Kentucky drivers only purchase the least amount of liability that is required (Kentucky limits are 25/50/10), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Collision coverage – Collision insurance pays for damage to your vehicle resulting from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision insurance covers things such as backing into a parked car, rolling your car, driving through your garage door and sustaining damage from a pot hole. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.

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Liability car insurance – This provides protection from damage or injury you incur to a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 100/300/100 that translate to $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage pays for claims like medical services, court costs, repair bills for other people’s vehicles and pain and suffering. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as much as you can afford. Kentucky state minimum liability requirements are 25,000/50,000/10,000 but drivers should carry more liability than the minimum.

Additional detailed information is located at the Kentucky Department of Insurance website. Kentucky drivers can view agent and company licensing information, file complaints about a company, read industry bulletins, and view a list of available companies.

One last thing about your coverage

We just presented quite a bit of information on how to reduce auto insurance prices online. It’s most important to understand that the more providers you compare, the higher your chance of finding lower rates. You may be surprised to find that the best price on auto insurance is with a small mutual company. They can often provide lower rates in certain areas than their larger competitors like Allstate, GEICO and Progressive.

When trying to cut insurance costs, you should never buy lower coverage limits just to save a few bucks. In many cases, an insured dropped full coverage and discovered at claim time that the few dollars in savings costed them thousands. Your focus should be to buy the best coverage you can find for the lowest price.