Paying for high-priced car insurance can overdraw your checking account and force you to make sacrifices. Comparing price quotes is free and is an excellent way to make sure you’re not throwing money away. Lots of insurers contend for your business, so it’s not easy to compare every insurer to get the lowest rate
You have some control over your rates
Consumers need to have an understanding of the different types of things that play a part in calculating car insurance rates. Having a good understanding of what controls the rates you pay enables informed choices that may reward you with better car insurance rates.
- Men pay higher rates – Statistics demonstrate that women are safer drivers than men. Now that doesn’t mean men are worse drivers. Men and women cause accidents in similar percentages, but the male of the species tend to have more serious accidents. Men also tend to receive more costly citations like DUI and reckless driving.
- Don’t buy coverages you don’t need – There are a ton of extra bells and whistles that you can get tricked into buying on your policy. Coverages for roadside assistance, accidental death and membership fees are some examples. These coverages may sound good when talking to your agent, but your needs may have changed so eliminate them to save money.
- Protect your assets with liability insurance – Liability coverage provides coverage if ever a court rules you are at fault for damages caused by your negligence. Liability insurance provides for a legal defense which can be incredibly expensive. This coverage is very inexpensive when compared with rates for comp and collision, so buy as much as you can afford.
- More claims means more premium – If you frequently file small claims, you can expect higher rates. Companies in Tennessee award cheaper rates to people who do not file claims often. Insurance coverage is intended for the bigger claims that can’t be paid out-of-pocket.
Cut your premium with discounts
Insurance can cost an arm and a leg, but you may find discounts that many people don’t even know exist. Some trigger automatically when you quote, but less common discounts must be specifically requested prior to getting the savings. If you aren’t receiving every discount possible, you’re paying more than you need to.
- Accident Waiver – A handful of insurance companies permit an accident before raising your premiums so long as you haven’t had any claims for a certain period of time.
- Early Signing – A few companies offer discounts for switching to them prior to your current policy expiring. This can save 10% or more.
- Use Seat Belts – Buckling up and requiring all passengers to use a seat belt could save 15% off your medical payments premium.
- Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
- E-sign – A few companies give back up to $50 simply for signing digitally online.
- Low Mileage Discounts – Low mileage vehicles could qualify for better rates on cars that stay parked.
- Anti-lock Brake System – Cars that have steering control and anti-lock brakes can avoid accidents and will save you 10% or more.
- Employee of Federal Government – Being employed by or retired from a federal job could cut as much as 10% off with certain companies.
- Driver Safety – Successfully completing a driver safety course can save you 5% or more depending on where you live.
- Senior Citizens – Mature drivers may qualify for a small decrease in premiums.
A little note about advertised discounts, some credits don’t apply to the entire policy premium. A few only apply to individual premiums such as physical damage coverage or medical payments. Just because it seems like you would end up receiving a 100% discount, companies wouldn’t make money that way. Any amount of discount will cut your overall premium however.
What is the best insurance coverage?
When it comes to choosing proper insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions can aid in determining if your insurance needs would benefit from an agent’s advice.
- What vehicles should carry emergency assistance coverage?
- When should my teen driver be added to my policy?
- When do I need to add a new car to my policy?
- Am I covered when using my vehicle for business?
- Is my cargo covered for damage or theft?
- How do I file an SR-22 for a DUI in Tennessee?
- Is my vehicle covered for smoke damage?
- Do I need motorclub coverage?
- When should I not file a claim?
- Does my insurance cover my expensive audio equipment?
If you can’t answer these questions, you might consider talking to an agent. If you don’t have a local agent, simply complete this short form or click here for a list of car insurance companies in your area. It’s fast, free and may give you better protection.
Learn more about Tennessee car insurance
Additional information is available on the website for the Tennessee Department of Commerce and Insurance located here. Tennessee consumers can view agent and company licensing information, learn about specific coverages, discover disciplinary actions, and get help finding coverage.
In the end, you save
When buying insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In many cases, consumers will sacrifice comprehensive coverage or liability limits only to regret that they should have had better coverage. Your focus should be to find the BEST coverage at an affordable rate, not the least amount of coverage.
You just learned a lot of ways to reduce car insurance prices online. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding lower rates. You may even find the lowest priced car insurance comes from a company that doesn’t do a lot of advertising. These smaller insurers can often insure niche markets at a lower cost as compared to the big name companies such as Allstate, GEICO and Progressive.