Car Insurance in Newport, VT – 5 Discounts You Might be Forgetting

Scraping up a payment for overpriced car insurance can take a big chunk out of your bank account and force you to make sacrifices. Comparing price quotes is free, only takes a few minutes, and is a good way to make sure you’re not throwing money away.

Since consumers have many choices, it can be diffult for consumers to choose the most affordable car insurance company.

Choosing the best insurance company for you in Newport is quite easy. If you currently have car insurance, you will most likely be able to reduce your rates substantially using this information. But Vermont vehicle owners need to learn the way insurance companies compete online and use this information to your advantage.

Finding Car Insurance Deals in Newport

The are a couple different ways to compare rate quotes from car insurance companies in your area. The quickest method to find the lowest rates is to perform an online rate comparison. This is very easy and can be done using a couple different methods.

1. The most efficient way to find the lowest comparison rates is a comparison rater form click here to open form in new window. This easy form saves time by eliminating separate quotes for each company you want a rate for. One quote request gets rate comparisons from many national carriers.
2. A slightly less efficient method to analyze rates is to take the time to go to the website for each individual company to complete their respective quote request forms. For examples sake, let’s say you want to compare Progressive, State Farm and GEICO. To find out each rate you need to spend time on each company’s site and enter your information, which is why most consumers use the first method.

   To view a list of companies in Newport, click here.

However you get your quotes, be sure to compare the exact same deductibles and coverage limits for each price quote. If you are comparing different liability limits it will be next to impossible to determine which rate is truly the best in Newport. Slightly different coverage limits can mean a large discrepancy in price. And when price shopping your coverage, comparing a large number of companies helps you find the best price.

Don’t listen to company ads

Car insurance companies such as GEICO, State Farm and Progressive regularly use ads on television and other media. They all seem to make an identical promise that you’ll save big if you move to their company. How do they all say the same thing?

All the different companies can use profiling for the type of customer that earns them a profit. For example, a profitable customer could be between 25 and 40, owns a home, and drives newer vehicles. A customer getting a price quote who matches those parameters is entitled to the best price and most likely will save when switching.

Potential insureds who don’t qualify for these standards will be charged higher rates which leads to business going elsewhere. The ad wording is “customers that switch” not “everybody who quotes” save that much. That’s why companies can truthfully make the claims of big savings. That is why drivers must get quotes from several different companies. It is impossible to predict which insurance companies will give you the biggest savings.

Discounts are basically free money

Car insurance companies do not advertise all their discounts very well, so here is a list some of the more common and the harder-to-find savings tricks you should be using.

• Lower Rates for Military – Being deployed with a military unit could be rewarded with lower premiums.
• Anti-lock Brakes – Vehicles equipped with ABS or steering control can reduce accidents and will save you 10% or more.
• Drivers Ed for Students – Cut your cost by having your teen driver complete a driver education course in school.
• Accident Forgiveness – Certain companies permit an accident before your rates go up as long as you don’t have any claims prior to the accident.
• Payment Discounts – If you pay your bill all at once instead of paying each month you can actually save on your bill.

It’s important to understand that most discount credits are not given to the entire cost. Most only apply to the price of certain insurance coverages like liability, collision or medical payments. Just because you may think you would end up receiving a 100% discount, you won’t be that lucky.

Additional detailed information can be read at the Vermont Department of Financial Regulation website. Vermont consumers can view a list of available companies, find disaster information, and report car insurance fraud.

The following information may also be useful.

• Tips to Finding the Right Auto Insurance Agent in Newport News, VA

Car insurance coverage options

Knowing the specifics of your policy aids in choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. These are typical coverages available from car insurance companies.

Medical expense insurance

Medical payments and Personal Injury Protection insurance kick in for bills for hospital visits, nursing services, funeral costs and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Protection from uninsured/underinsured drivers

Your UM/UIM coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since many Vermont drivers carry very low liability coverage limits (25/50/10), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Liability coverages

This coverage protects you from damages or injuries you inflict on other’s property or people. This coverage protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 25/50/25 that translate to a limit of $25,000 per injured person, $50,000 for the entire accident, and $25,000 of coverage for damaged propery.

Liability insurance covers things such as emergency aid, loss of income, medical services and medical expenses. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible. Vermont state minimum liability requirements are 25,000/50,000/10,000 but drivers should carry better liability coverage.

Comprehensive (Other than Collision)

Comprehensive insurance pays for damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers things like a broken windshield, hitting a deer and a tree branch falling on your vehicle. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Coverage for collisions

This covers damage to your vehicle resulting from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for things like colliding with a tree, damaging your car on a curb, backing into a parked car and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible to save money on collision insurance.

Cheaper insurance is a realistic goal

Lower-priced car insurance is possible online and with local Newport insurance agents, so you should be comparing quotes from both to get a complete price analysis. Some insurance providers do not offer online price quotes and most of the time these small insurance companies sell through independent agents.

We just presented a lot of information how to save on car insurance. The most important thing to understand is the more price quotes you have, the better your comparison will be. You may even discover the most savings is with the smaller companies. These smaller insurers may cover specific market segments cheaper compared to the large companies like State Farm or Progressive.