Buy Colchester, VT Auto Insurance Like a Tightwad

Comparison shopping for Colchester auto insurance is always nearly impossible for beginners to comparison shopping online. Drivers have so many options available that it can quickly become a big hassle to locate the lowest price in Colchester.

Consumers need to take a look at other company’s rates periodically due to the fact that insurance rates go up and down regularly. Despite the fact that you may have had the best deal a few years ago you can probably find a better price now. Forget all the misinformation about auto insurance because we’re going to demonstrate the right way to save money, get proper deductibles and limits, all at the lowest rate.

Take advantage of discounts

Insurance can be prohibitively expensive, buy you may qualify for discounts to help bring down the price. Some discounts apply automatically at the time you complete a quote, but some must be inquired about before being credited.

  • Accident Free – Drivers who don’t have accidents pay less when compared to bad drivers.
  • Senior Discount – If you’re over the age of 55, you may receive better auto insurance rates.
  • Early Switch Discount – Some insurance companies reward drivers for switching policies before your current policy expires. It’s a savings of about 10%.
  • Multiple Cars – Insuring all your vehicles on one policy qualifies for this discount.
  • Save with a New Car – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
  • Organization Discounts – Belonging to a civic or occupational organization is a good way to get lower rates when shopping for auto insurance.
  • Bundle and Save – When you combine your home and auto insurance with the same insurance company you may earn at least 10% off all policies.
  • Braking Control Discount – Anti-lock brake equipped vehicles can avoid accidents and earn discounts up to 10%.

A little note about advertised discounts, most discounts do not apply the the whole policy. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. So even though they make it sound like you would end up receiving a 100% discount, companies don’t profit that way. But any discount will help reduce your premiums.

To see a list of companies offering auto insurance discounts in Vermont, click this link.

Learn How to Buy Auto Insurance Cheaper

Smart consumers have a good feel for the rating factors that go into determining your auto insurance rates. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

Listed below are a few of the “ingredients” used by your company to calculate rates.

  • Lower deductibles cost more – Physical damage deductibles define the amount you are required to spend before your auto insurance pays a claim. Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of claims that would be covered could be running into the backend of another car, damage caused by hail, and burglary. The more expense the insured has to pay upfront, the bigger discount you will receive.
  • High credit ratings translate to low rates – Your credit score is a large factor in determining your rates. Drivers who have good credit tend to be better drivers and file fewer claims than those with poor credit. If your credit is low, you could be paying less to insure your by spending a little time repairing your credit.
  • Do you have a high stress job? – Did you know your occupation can influence how much you pay for auto insurance? Careers like judges, social workers and financial analysts have higher average rates in part from high stress and lots of time spent at work. Conversely, professions such as pilots, engineers and homemakers get better rates.
  • Marriage pays dividends – Being married helps lower the price on your policy. Having a spouse is viewed as being more mature and it’s proven that married couples file fewer claims.
  • Do you have enough liability coverage? – Your policy’s liability coverage is the coverage that protects you in the event that you are found liable for damages from an accident. It will provide legal defense which can cost thousands of dollars. Liability is cheap as compared to coverage for physical damage, so do not cut corners here.
  • Lower miles equals lower premium – The more you drive every year the higher your rate. The majority of insurers apply a rate based on their usage. Autos left parked in the garage receive lower rates than vehicles that are driven to work every day. Make sure your auto insurance policy is showing the correct driver usage, because improper ratings can cost you money.
  • Type of vehicle determines base rates – The make and model of the vehicle you own makes a substantial difference in how high your rates are. Small economy passenger cars usually have the lowest rates, but there are many factors that impact the final cost.

What about my local Colchester agents?

Some consumers prefer to talk to a local agent and that is a personal choice. One of the great benefits of comparing rates online is that you can obtain the best rates and still have an agent to talk to. And providing support for local insurance agencies is definitely important in Colchester.

For easy comparison, once you complete this form (opens in new window), your insurance data is sent to local insurance agents who will return price quotes for your insurance coverage. There is no reason to drive around because quoted prices will be sent directly to your email. How’s that for easy! You’ll get the best rates AND an agent money image

Two types of Colchester car insurance agents

If you’re trying to find a reliable agent, you need to know there are two different agency structures that differ in how they can insure your vehicles. Insurance agencies in Colchester are categorized either independent or captive.

Independent Agencies or Brokers

Independent agencies are not locked into one company so they can insure your vehicles with many different companies depending on which coverage is best. If your agent finds better pricing, an independent agent can move your coverage and you won’t have to switch agencies. When comparison shopping, we recommend you include price quotes from multiple independent agents to ensure the widest selection of prices. Many write coverage with lesser-known insurance companies which can save you money.

Shown below is a short list of independent agencies in Colchester that can give you competitive price quotes.

  • Kent Booraem Insurance – 85 Prim Rd – Colchester, VT 05446 – (802) 862-5880
  • Sudha G Parikh Insurance – 48 Rathe Rd – Colchester, VT 05446 – (802) 654-7161
Captive Insurance Agents

Captive agencies are contracted to one company and examples are AAA, State Farm, Farmers Insurance and Allstate. These agents are unable to give you multiple price quotes so it’s a take it or leave it situation. Captives are very knowledgeable on the products they sell which helps them sell insurance even at higher premiums. Consumers frequently purchase coverage from captives mainly due to loyalty to the company and strong financial ratings.

Deciding on an insurance agent requires more thought than just a low price. Here are some questions to ask:

  • Can they provide you with a list of referrals?
  • Do they make recommendations based only on price?
  • Is assistance available after office hours?
  • Did they already check your driving record and credit reports?
  • Do they regularly work with personal auto policies?
  • Is vehicle damage repaired with OEM or aftermarket parts?
  • Is their price quote a firm figure or are their hidden costs?
  • Is the agent and/or agency licensed to do business in Vermont?

Upon getting reasonable responses for all questions you ask and a low price estimate, you’ve probably found an auto insurance agent that is a good match to insure your vehicles.

Auto insurance myths debunked

21st Century, Allstate and State Farm continually stream television and radio advertisements. All the companies say the same thing that you’ll save big after switching your policy. How does each company make the same claim? It’s all in the numbers.

All companies have a certain “appetite” for the type of customer they prefer to insure. An example of a profitable customer could possibly be between 25 and 40, has no tickets, and drives less than 7,500 miles a year. Any new insured who meets those qualifications will get the preferred rates and therefore will save a lot of money.

Drivers who don’t measure up to the requirements will have to pay higher prices which leads to business going elsewhere. The ads say “drivers who switch” but not “drivers who get quotes” save that much money. That’s the way companies can truthfully state the savings.

Colchester insurance ad

Because of the profiling, you absolutely need to get as many comparisons as possible. It’s not possible to predict which auto insurance company will provide you with the cheapest rates.

Additional information can be read on the Vermont Department of Financial Regulation website. Click here for link. Visitors are able to download brochures, learn about insurance regulations, and find out industry alerts.

Quote more, save more

Insureds switch companies for any number of reasons including policy non-renewal, an unsatisfactory settlement offer, extreme rates for teen drivers or delays in paying claims. It doesn’t matter what your reason, switching companies is pretty simple and you could end up saving a buck or two.

When shopping online for auto insurance, it’s a bad idea to sacrifice coverage to reduce premiums. In too many instances, someone sacrificed full coverage only to regret at claim time that it was a big mistake. The ultimate goal is to get the best coverage possible at a price you can afford.

Cost effective auto insurance can be bought from both online companies and with local Colchester insurance agents, so you should compare both to have the best selection. There are still a few companies who do not offer online price quotes and many times these small, regional companies only sell through independent insurance agents.