Having to pay for overpriced car insurance can drain your checking account and make it impossible to make ends meet. Comparing price quotes is a smart way to reduce premiums and put more money in your pocket. Many auto insurance companies vie for your insurance dollar, so it can be very hard to choose a provider and uncover the absolute lowest rate possible.
If you have a current car insurance policy or need new coverage, you can use these techniques to cut your premiums and possibly find even better coverage. Finding the best rates in Lafayette is not that difficult. Indiana consumers just need to know the proper methods to compare price quotes over the internet.
Cut your car insurance rates with discounts
Insurance can be prohibitively expensive, but you may find discounts that you may not even be aware of. Certain discounts will be triggered automatically when you get a quote, but some may not be applied and must be asked about before being credited. If they aren’t giving you every credit you qualify for, you are throwing money away.
- Service Members Pay Less – Being on active duty in the military may qualify for rate reductions.
- Save with a New Car – Buying coverage on a new vehicle can cost up to 25% less since new cars are generally safer.
- Safe Driver Discount – Drivers who don’t get into accidents may receive a discount up to 45% less than less cautious drivers.
- Discount for Swiching Early – Some insurance companies reward drivers for buying a policy prior to your current policy expiration. The savings is around 10%.
- Driver Safety – Taking part in a defensive driving course can save you 5% or more and easily recoup the cost of the course.
It’s important to note that some credits don’t apply to your bottom line cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So even though it sounds like you could get a free car insurance policy, it just doesn’t work that way. Any amount of discount will reduce your overall premium however.
To see a list of insurers with the best car insurance discounts in Lafayette, follow this link.
You have some control over your rates
Consumers need to have an understanding of the factors that come into play when calculating the price you pay for car insurance. Knowing what influences your rates helps enable you to make changes that could result in big savings.
The list below includes some of the items that factor into premiums.
- Performance influences rates – The make and model of the car you own makes a significant difference in the rate you pay. Small economy passenger cars usually have the lowest rates, but there are many factors that impact the final cost.
- Your occupation can affect rates – Did you know your occupation can influence how much you pay for car insurance? Careers like doctors, executives and financial analysts have higher average rates due to stressful work requirements and long work hours. Conversely, occupations such as actors, engineers and performers get better rates.
- Higher safety ratings means cheaper insurance – Cars with high safety ratings are cheaper to insure. Safe vehicles protect occupants better and better occupant protection translates into fewer and smaller insurance claims and lower rates for you.
- Protect your assets with liability insurance – The liability section of your policy will protect you when you are found to be at fault for personal injury or accident damage. It will provide legal defense starting from day one. Liability insurance is quite affordable compared to insuring for physical damage coverage, so drivers should carry high limits.
- Pleasure use saves money – The more miles you rack up on your car in a year the more you will pay for car insurance. Most companies rate vehicles based upon how you use the vehicle. Autos that are left in the garage receive lower rates as compared to vehicles used primarily for driving to work. Verify your car insurance policy is showing how each vehicle is driven, because improper ratings can cost you money.
- Lower rates with optional equipment – Owning a car with anti-theft technology or alarm system can help lower your rates. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your vehicle from being stolen.
- Frequent car insurance claims increase rates – If you are a frequent claim filer, you can look forward to either policy cancellation or increased premiums. Insurance companies in Indiana award lower rates to insureds who do not file claims often. Your insurance policy is meant to be used in the event of larger claims.
Find out more about car insurance
Additional car insurance information is located on the website for the Indiana Department of Insurance through this link. Consumers can discover disciplinary actions, find a variety of consumer forms, and view agent and company licensing information.
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Cheaper insurance is a realistic goal
As you prepare to switch companies, it’s a bad idea to sacrifice coverage to reduce premiums. Too many times, drivers have reduced comprehensive coverage or liability limits only to regret at claim time they didn’t purchase enough coverage. The ultimate goal is to get the best coverage possible at a price you can afford while still protecting your assets.
You just read some good ideas how to shop for car insurance online. The key concept to understand is the more you quote, the better chance you’ll have of finding lower rates. Drivers may discover the most savings is with some of the smallest insurance companies. They often have lower prices on specific markets than their larger competitors like Progressive and GEICO.