How to Know You’re Wasting Money for Auto Insurance in Laramie

Have you fallen victim to an underperforming, overpriced auto insurance policy? Believe me when I say many Laramie consumers feel financially strained by their auto insurance policy. Many auto insurance companies vie for your hard-earned dollar, and because of this it can be hard to compare auto insurance companies to get the best rate

How to Compare Auto Insurance in Laramie

Finding a better price on auto insurance is not a difficult process. You just need to take a few minutes to compare rate quotes online from several insurance companies. This can be accomplished using a couple different methods.

  1. One of the best ways to get the best comparison quotes is to use a rate comparison form click to view form in new window. This type of form saves time by eliminating a different quote for each company. One simple form gets you coverage quotes direct from many companies.
  2. A harder way to compare prices consists of visiting the website for each individual company and request a quote. For instance, let’s assume you want comparison quotes from Auto-Owners, State Farm and GMAC. To find out each rate you need to go to every website and enter your policy data, which is why the first method is more popular. For a list of links to insurance companies in Laramie, click here.

Which method you use is up to you, but double check that you are using exactly the same coverage information for every quote you compare. If each company quotes higher or lower deductibles you can’t possibly make an equal comparison in Laramie.

Cut your premium with discounts

Insurance can cost an arm and a leg, but there are discounts available that you may not know about. A few discounts will automatically apply at the time you complete a quote, but some may not be applied and must be asked for before being credited. If you’re not getting every credit possible, you are paying more than you should be.

  • Clubs and Organizations – Belonging to a qualifying organization could qualify you for a break when shopping for auto insurance.
  • Discount for Swiching Early – Some insurance companies reward drivers for switching policies before your current policy expires. The savings is around 10%.
  • Accident Free – Drivers with accident-free driving histories can earn big discounts compared to drivers who are more careless.
  • Drive Less and Save – Keeping the miles down could qualify for better rates on cars that stay parked.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to use a seat belt can save up to 15% off your medical payments premium.
  • New Car Discount – Buying coverage on a new vehicle can save up to 30% due to better safety requirements for new cars.
  • Multiple Vehicles – Insuring multiple vehicles on one policy may reduce the rate for each vehicle.
  • Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems can help prevent theft and earn discounts up to 10%.

Keep in mind that most discount credits are not given the the whole policy. Most only cut the cost of specific coverages such as comprehensive or collision. Even though it may seem like you could get a free auto insurance policy, it doesn’t quite work that way. Any qualifying discounts will help reduce the cost of coverage.

To see a list of insurers offering auto insurance discounts in Wyoming, follow this link.

What is the best insurance coverage?

When buying the best auto insurance coverage for your vehicles, there isn’t really a single plan that fits everyone. Coverage needs to be tailored to your specific needs so your insurance needs to address that. These are some specific questions may help highlight if you might need an agent’s insurance image

  • What can I do if my company denied a claim?
  • Do I have any recourse if my insurance company denies a claim?
  • What is the difference between comprehensive and collision coverage?
  • What are the financial responsibility laws in Wyoming?
  • Do I need PIP (personal injury protection) coverage in Wyoming?
  • What if I total my vehicle and owe more than it’s worth?
  • When should I not file a claim?

If you can’t answer these questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, complete this form or you can also visit this page to select a carrier It only takes a few minutes and can provide invaluable advice.

Good Decisions Result in Lower Rates

It’s important that you understand some of the elements that play a part in calculating the rates you pay for auto insurance. Knowing what influences your rates helps enable you to make changes that could result in much lower annual insurance costs.

  • Sex matters – Statistics demonstrate that men are more aggressive behind the wheel. However, don’t assume that women are better drivers. They both tend to get into accidents at about the same rate, but the male of the species cause more damage and cost insurance companies more money. Men also tend to have more aggressive citations like DUI and reckless driving.
  • Claim-free discounts can add up – If you are a frequent claim filer, you can pretty much guarantee either policy cancellation or increased premiums. Car insurance companies in Wyoming provide discounts to insureds who do not rely on their insurance for small claims. Your insurance policy is meant to be used in the event of the large, substantial claims.
  • More miles equals more premium – Driving more miles each year the more you’ll pay to insure your vehicle. Most insurance companies charge to insure your cars based on how the vehicle is used. Cars used primarily for pleasure use get more affordable rates compared to those used for work or business. Double check that your auto insurance coverage shows the proper vehicle usage.
  • Having a spouse can save you money – Having a spouse helps lower the price on your policy. It translates into being more mature than a single person and statistics show drivers who are married are more cautious.
  • High credit ratings translate to low rates – Having a bad credit score is a huge factor in your rate calculation. If your credit score is lower than you’d like, you could pay less to insure your by repairing your credit. Drivers who have high credit ratings tend to be better drivers and file fewer claims than drivers who have poor credit.
  • A clean driving record saves money – A bad driving record has a lot to do with how much you pay for insurance. Drivers who don’t get tickets get better rates than their less careful counterparts. Even a single ticket can bump up the cost forty percent or more. If you have dangerous violations such as DUI or reckless driving may find they need to submit a SR-22 form with their state motor vehicle department in order to prevent a license revocation.
  • Allowing your policy to lapse raises rates – Having an insurance coverage lapse will be a guaranteed way to pay more for auto insurance. Not only will you pay more, failure to provide proof of insurance can result in a revoked license or a big fine.You may have to submit proof of financial responsibility or a SR-22 with the Wyoming motor vehicle department to get your license reinstated.

Can you really save that much by switching?

Consumers in Wyoming get pounded daily by advertisements for car insurance savings by companies like Allstate, GEICO and Progressive. They all seem to have a common claim that you’ll save big if you switch to them.

How can each company claim to save you money?

All the different companies have a preferred profile for the type of driver that earns them a profit. For instance, a profitable customer could possibly be between the ages of 40 and 55, has no prior claims, and has great credit. A customer getting a price quote that hits that “sweet spot” gets the lowest rates and is almost guaranteed to pay quite a bit less when switching companies.

Potential insureds who do not match these standards must pay more money which usually ends up with the customer not buying. The ads state “customers that switch” not “everybody who quotes” save that kind of money. That’s why insurance companies can make those claims.

This illustrates why you absolutely need to quote coverage with many companies. It’s impossible to know the company that will give you the biggest savings.

In Summary

As you shop your coverage around, it’s very important that you do not sacrifice coverage to reduce premiums. There have been many situations where drivers have reduced full coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your focus should be to purchase plenty of coverage at an affordable rate, not the least amount of coverage.

Low-cost auto insurance can be purchased both online and also from your neighborhood Laramie agents, so compare prices from both to get a complete price analysis. There are still a few companies who may not provide online price quotes and usually these small insurance companies provide coverage only through local independent agents.

More information can be found on the website for the Wyoming Insurance Department through this link. Consumers can report car insurance fraud, file complaints about a company, and find out industry alerts.