Are you intimidated by the number of car insurance company choices in El Dorado? Many other consumers are too. People have so many companies to choose from that it can be more work than you anticipated to compare prices.
It’s a good habit to get comparison quotes every six months because rates tend to go up over time. Despite the fact that you may have had the best price a year ago you will most likely find a better rate today. So just block out anything you think you know about car insurance because you’re going to get a crash course in one of the easiest ways to find lower rates on car insurance.
This information will let you in on how to get online quotes. If you have car insurance now, you stand a good chance to be able to lower your premiums substantially using these tips. Although Arkansas car owners do need to learn how big insurance companies sell insurance online and apply this information to your search.
Companies offer discounts so take them!
The price of auto insurance can be rather high, buy you may qualify for discounts to help offset the cost. Certain discounts will be applied when you purchase, but a few need to be manually applied in order for you to get them.
- Government Employees – Being employed by or retired from a federal job can earn a discount up to 10% with select insurance companies.
- Driver’s Ed – Require your teen driver to complete a driver education course in high school.
- Early Switch Discount – Some insurance companies reward drivers for signing up prior to your current policy expiration. It’s a savings of about 10%.
- Passive Restraints and Air Bags – Vehicles equipped with air bags or motorized seat belts can qualify for discounts of up to 25% or more.
- Use Seat Belts – Requiring all passengers to use a seat belt could save 15% off your medical payments premium.
- Senior Discount – Mature drivers can possibly qualify for a discount up to 10%.
- Anti-theft System – Cars that have factory anti-theft systems help deter theft and will save you 10% or more.
- Multiple Cars – Buying insurance for all your vehicles with the same company can get a discount on all vehicles.
- Auto/Life Discount – Companies who offer life insurance give a break if you buy auto and life insurance together.
As a disclaimer on discounts, most of the big mark downs will not be given to all coverage premiums. Most only cut individual premiums such as medical payments or collision. So despite the fact that it appears all the discounts add up to a free policy, companies wouldn’t make money that way. But any discount will reduce the amount you have to pay.
To see a list of insurance companies with the best car insurance discounts in El Dorado, click this link.
Why your price might be higher
Smart consumers have a good feel for some of the elements that play a part in calculating your car insurance rates. Knowing what controls the rates you pay helps enable you to make changes that can help you get big savings.
Shown below are a partial list of the pieces that factor into your rates.
- Mature drivers pay less – More mature drivers are viewed as being more responsible, tend to file fewer claims and get fewer tickets. Teenage drivers are statistically proven to be more careless when driving therefore car insurance rates are much higher.
- Extra coverages can waste money – There are a ton of additional coverages that you can get tricked into buying if you aren’t careful. Things like rental car reimbursement, accidental death and motor club memberships are some examples. These may sound like a good investment initially, but if you don’t need them remove them from your policy.
- High crash test scores lower rates – Safer cars tend to have better insurance rates. The safest vehicles reduce injuries and fewer injuries translates into fewer and smaller insurance claims passed on to you as lower rates.
- Rates may be lower depending on your job – Careers like real estate brokers, architects and accountants tend to pay higher rates than average because of high stress and lengthy work days. On the flip side, jobs such as farmers, athletes and retirees have the lowest average rates.
- Your spouse saves you money – Getting married can actually save you money on your car insurance policy. It usually means you are more mature and responsible and statistics show married drivers get in fewer accidents.
- What are your deductibles? – Deductibles for physical damage define the amount you are required to spend out-of-pocket before a claim is paid by your company. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some examples of claims that would be covered could be running into the backend of another car, vandalism, and burglary. The more money the insured has to pay upfront, the bigger discount you will receive.
- Careful drivers pay lower rates – Your driving citation history impacts your car insurance rates tremendously. Just one speeding ticket can increase rates by as much as thirty percent. Good drivers get better rates than people who have multiple driving citations. Drivers who have severe citations such as DWI, reckless driving or hit and run convictions may need to submit a SR-22 form with the DMV in their state in order to drive a vehicle legally.
- Never allow your policy to lapse – Driving your car without having proper coverage can get your license suspended and your next policy will cost more because you let your insurance lapse. Not only will rates go up, getting caught without coverage can result in a hefty fine and possibly a revoked license.
Do I just need basic coverages?
When choosing the best car insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Everyone’s situation is a little different.
For example, these questions could help you determine if your situation might need an agent’s assistance.
- Are rental cars covered under my policy?
- Is business property covered if stolen from my car?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Is my business laptop covered if it gets stolen from my vehicle?
- Should I drop comprehensive coverage on older vehicles?
- When should I not file a claim?
If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed agent. To find lower rates from a local agent, fill out this quick form.
Additional car insurance information is located on the Arkansas Insurance Department website found here. Visitors are able to read industry bulletins, read consumer alerts, file complaints about an insurance agent or broker, and find disaster information.
More quotes mean more savings
We just covered a lot of information how to compare car insurance prices online. The key thing to remember is the more times you quote, the higher your chance of finding lower rates. You may even discover the best prices are with some of the lesser-known companies.
Budget-conscious car insurance can be sourced from both online companies and also from your neighborhood El Dorado agents, so you should compare both in order to have the best price selection to choose from. Some companies may not provide you the ability to get quotes online and usually these smaller companies provide coverage only through local independent agents.
Consumers change insurance companies for a variety of reasons including lack of trust in their agent, unfair underwriting practices, delays in paying claims and even being labeled a high risk driver. Regardless of your reason for switching companies, switching companies can be easy and end up saving you some money.