Is Your Newport Car Insurance Costing Too Much?

Expensive car insurance can dwindle your savings account and put a big crunch on your finances. Doing a price comparison is free, only takes a few minutes, and is a good way to reduce premiums and put more money in your pocket. There is such a variety of insurance companies to purchase coverage from, and although it’s nice to have multiple companies, it can be more difficult to locate the cheapest rates.

Choosing the best insurance company for you in Newport is not rocket science. If you are paying for car insurance now, you will most likely be able to save some money using these tips. Rhode Island vehicle owners just need to understand the most effective way to find the lowest price on the web.

Discounts can save BIG

Car insurance companies don’t list all available discounts very well, so we researched some of the more common as well as the least known ways to save on car insurance. If you don’t get every credit possible, you are paying more than you should be.

  • Senior Discount – If you qualify as a senior citizen, you can possibly qualify for better car insurance rates.
  • Federal Government Employee – Active or retired federal employment can save as much as 8% with select insurance companies.
  • Organization Discounts – Affiliation with a professional or civic organization could qualify you for a break when shopping for car insurance.
  • Multi-policy Discount – If you insure your home and vehicles with one insurance company you will save approximately 10% to 15%.
  • Passive Restraint Discount – Factory air bags and/or automatic seat belt systems may earn rate discounts of 20% or more.

It’s important to understand that some of the credits will not apply to your bottom line cost. Some only reduce the cost of specific coverages such as medical payments or collision. So despite the fact that it appears it’s possible to get free car insurance, companies wouldn’t make money that way.

To see a list of insurers offering car insurance discounts in Rhode Island, click here.

How to Get Car Insurance in Newport

Cutting your Newport car insurance rates is a fairly straight forward process. All you need to do is take a few minutes getting comparison quotes provided by online insurance companies. It is quite easy and can be accomplished in several different ways.

  • One of the best ways to get quotes would be an industry-wide quote request form like this one (opens in new window). This easy form keeps you from doing repetitive form entry for every car insurance company. One simple form will return quotes from all major companies.
  • Another way to analyze rates requires you to visit the website for each individual company to complete their respective quote request forms. For examples sake, we’ll assume you want to compare USAA, Progressive and State Farm. To get rate quotes you would need to spend time on each company’s site to input your insurance information, which is why most consumers use the first method.

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

  • The least efficient method of getting rate comparisons is driving to different Newport agent offices. The ability to buy insurance online makes this process obsolete unless you prefer the personal advice of a local Newport agent. You can, however, compare online quotes but buy from a local insurance agent and we’ll cover that in a bit.

It’s your choice how you get your quotes, but make absolute certain that you use identical quote information with each company. If you compare different values for each quote it’s not possible to make an equal comparison in Newport.

Get Cheaper Rates by Understanding Pricing

Consumers need to have an understanding of the factors that go into determining car insurance rates. Knowing what influences your rates allows you to make educated decisions that can help you get big savings.

Listed below are a partial list of the pieces companies use to determine your rates.Newport Rhode Island car insurance

  • Rates may be lower depending on your job – Jobs such as real estate brokers, social workers and financial analysts tend to have higher average rates because of job stress and lots of time spent at work. Conversely, professions such as actors, engineers and the unemployed receive lower rates.
  • Better credit scores mean better rates – Having a bad credit score is a huge factor in determining what you pay for car insurance. So if your credit score is lower than you’d like, you could save money insuring your by repairing your credit. Consumers who have high credit ratings tend to be less risk to insure than those with poor credit.
  • Safer cars cost less to insure – Vehicles with high crash test scores can get you lower premiums. Safer cars protect occupants better and any reduction in injury severity translates into savings for insurance companies and thus lower rates.
  • Men pay higher rates – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Women and men tend to get into accidents in similar numbers, but the males cause more damage. They also get cited for more serious violations like DUI and reckless driving. Young males are the most expensive to insure and are penalized with high car insurance rates.
  • Pay less if you’re married – Having a wife or husband helps lower the price when buying car insurance. It is viewed as being more mature than a single person and statistics show married drivers get in fewer accidents.
  • Don’t skimp on liability – Liability coverage is the protection if you are found liable for causing damage or personal injury in an accident. Liability provides you with a defense in court which can be incredibly expensive. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so buy as much as you can afford.

Comparing rates from local agents

A small number of people just want to buy from a local agent and that is a personal choice. Insurance agents can help determine the best coverages and help submit paperwork. One of the best bonuses of comparing insurance prices online is that you can obtain the lowest rates but also keep your business local.

By using this short form, your information is sent to agents in your area who will compete for your business. You won’t need to leave your house due to the fact that quote results will go to the email address you provide. Now that’s easy!

Choosing an insurance company should depend on more than just the bottom line cost. Ask your prospective agent these questions:

  • Does the agency have a good rating with the Better Business Bureau?
  • Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
  • Can glass repairs be made at your home?
  • Did they already check your driving record and credit reports?
  • Are they properly licensed to sell insurance in Rhode Island?
  • Do they specialize in personal lines coverage?

Newport insurance agents come in two flavors

When finding a good insurance agency, there are two different types of agents that differ in how they can insure your vehicles. Insurance agencies in Newport are categorized either captive or independent. Both types can properly insure your vehicles, but it’s worth learning how they differ because it can impact your agent selection.

Captive Insurance Agents

Captive agents can only write with one company like Liberty Mutual, State Farm, Allstate and AAA. They usually cannot compare other company’s rates so always compare other rates. Captive agencies are usually quite knowledgeable on the products they sell which can be an advantage.

Independent Agents (or Brokers)

Independent insurance agents are not required to write business for one company but rather can write business with multiple insurance companies depending on which coverage is best. If your agent finds better pricing, the agent simply finds a different carrier and that require little work on your part. When comparison shopping, it’s a good idea to get quotes from at a minimum one independent agency for the best price selection.

Shown below are independent insurance agents in Newport willing to provide price quotes.

Renaud Insurance – 28 Pelham St – Newport, RI 02840 – (401) 849-7400
Renaud Insurance – 7 Beacon Ct – Newport, RI 02840 – (401) 849-7400
D F Dwyer Agency – 38 Bellevue Ave # B – Newport, RI 02840 – (401) 846-9629

To view a complete directory of Newport insurance agents, visit this site.

save money concept

Once you have received satisfactory answers to any questions you have and an acceptable price quote, chances are good that you have found a car insurance agent that can adequately provide car insurance.

The best insurance company isn’t always the cheapest

When shopping online for car insurance, don’t be tempted to sacrifice coverage to reduce premiums. In many cases, consumers will sacrifice liability coverage limits to discover at claim time that it was a big mistake. Your strategy should be to buy a smart amount of coverage for the lowest price.

We covered some good ideas how you can get a better price on car insurance. It’s most important to understand that the more rate comparisons you have, the higher the chance of saving money. You may even discover the best price on car insurance is with the smaller companies. Smaller companies may only write in your state and offer lower rates than the large multi-state companies such as Progressive or GEICO.

More tips and info about car insurance is available at the Rhode Island Division of Insurance Regulation website. Visitors are able to learn about insurance regulations, view a list of available companies, get help finding coverage, and read consumer alerts.

The articles below may also help you learn more about car insurance in Newport