Overpriced auto insurance can dwindle your checking account and force you to make sacrifices. Comparison shopping is a smart way to lower your monthly bill. Numerous insurers battle for your business, so it can be very hard to choose a provider to find the absolute best rate
It’s a good habit to shop coverage around quite often due to the fact that insurance rates are adjusted regularly by insurance companies. Despite the fact that you may have had the best price a few years ago other companies may now be cheaper. So forget anything you know (or think you know) about auto insurance because we’re going to show you one of the quickest ways to properly buy coverages and cut your premium.
If you have insurance now or are looking for a new policy, you can use this information to cut your premiums while maximizing coverage. Finding affordable coverage in Hampstead is not rocket science. Maryland consumers only need to know the best way to compare price quotes over the internet.
Hampstead Auto Insurance Comparisons
Finding a lower price on insurance doesn’t have to be difficult. Consumers just need to take a few minutes to compare quotes online from several insurance companies. It is quite easy and can be accomplished in just a few minutes using one of these methods.
- The easiest and least time consuming way to compare a lot of rates at once would be an industry-wide quote request form click here to open form in new window. This easy form prevents you from having to do repetitive form entry to each individual auto insurance company. Taking the time to complete one form gets rate comparisons instantly.
- A more time consuming way to compare prices is going to each company website to complete a price quote. For sake of this example, we’ll pretend you want rates from Nationwide, Liberty Mutual and Farmers. You would have to go to every website to enter your coverage information, and that’s why the first method is more popular.
For a list of links to companies insuring cars in Hampstead, click here.
Whichever way you use, ensure you are comparing exactly the same coverage limits with every price quote. If you have different limits and deductibles on each one it will be next to impossible to truly determine the lowest rate in Hampstead.
Discounts are great for lower rates
Companies that sell car insurance don’t list every discount very well, so we researched both well-publicized as well as the least known ways to save on auto insurance. If you don’t get every credit available, you are paying more than you should be.
- Early Switch Discount – Select companies give a discount for buying a policy before your current policy expires. It’s a savings of about 10%.
- No Accidents – Claim-free drivers pay less as compared to bad drivers.
- Sign Online – Some insurance companies give back up to $50 for buying your policy digitally online.
- Seat Belts Save – Buckling up and requiring all passengers to buckle their seat belts could cut 10% or more off your medical payments premium.
- Anti-theft System – Cars that have factory anti-theft systems help deter theft and earn discounts up to 10%.
- Payment Discounts – If you pay your entire premium ahead of time instead of making monthly payments you could save up to 5%.
- Save with a New Car – Putting insurance coverage on a new car can cost up to 25% less because new vehicles have to meet stringent safety requirements.
- One Accident Forgiven – Certain companies will allow you to have one accident before hitting you with a surcharge so long as you haven’t had any claims prior to the accident.
- Good Student Discount – Performing well in school can save 20 to 25%. The good student discount can last until age 25.
- Military Rewards – Being on active duty in the military may qualify for rate reductions.
A little note about advertised discounts, most credits do not apply to the entire policy premium. A few only apply to individual premiums such as medical payments or collision. So when the math indicates it’s possible to get free car insurance, you’re out of luck.
For a list of insurance companies with the best auto insurance discounts in Hampstead, follow this link.
Hampstead Rates are Influenced by These Factors
Smart consumers have a good feel for the rating factors that play a part in calculating the rates you pay for auto insurance. Having a good understanding of what impacts premium levels allows you to make educated decisions that could result in better auto insurance rates.
Shown below are a partial list of the pieces companies use to determine premiums.
- A lapse in coverage is a bad thing – Allowing your auto insurance policy to lapse will be a sure-fire way to trigger a rate increase. Not only will rates go up, failure to provide proof of insurance will get you a steep fine or even jail time.
- Being married is a good thing – Getting married can actually save you money when buying auto insurance. Marriage usually means you are more mature and responsible and statistics show married couples file fewer claims.
- Drive a safer car and pay less – Cars with high safety ratings tend to have better insurance rates. The safest vehicles result in less severe injuries and better occupant protection means less money paid by your insurance company and more competitive rates for policyholders.
- Please use or commuting – The more miles you rack up on your car each year the more you’ll pay to insure your vehicle. The majority of insurers rate vehicles based on their usage. Autos that are left in the garage get more affordable rates than those used for commuting. Verify your auto insurance policy properly reflects how each vehicle is driven.
- Better credit means lower rates – Having a bad credit history is a huge factor in determining what you pay for auto insurance. If your credit rating is not that good, 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 as compared to drivers with lower credit scores.
- Older drivers pay less – More mature drivers tend to be more responsible, statistically cause fewer accidents and receive fewer citations. Teenage drivers are known to get distracted easily when driving therefore auto insurance rates are much higher.
You may need specialized coverage
When it comes to choosing coverage, there really is not a single plan that fits everyone. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that could help you determine if your situation might need an agent’s assistance.
- Do I benefit by insuring my home with the same company?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Am I getting all the discounts available?
- What companies insure drivers after a DUI or DWI?
- When should I not file a claim?
- Is a new car covered when I drive it off the dealer lot?
- Are split liability limits better than a combined single limit?
- What is covered by UM/UIM coverage?
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, take a second and complete this form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.
Additional detailed information can be read at the Maryland Insurance Administration website. Visitors are able to find a variety of consumer forms, view agent and company licensing information, and find out industry alerts.
A little work can save a LOT of money
As you shop your coverage around, don’t be tempted to sacrifice coverage to reduce premiums. In too many instances, an insured dropped liability coverage limits to discover at claim time that it was a big error on their part. Your aim should be to purchase a proper amount of coverage at an affordable rate.
Throughout this article, we presented many tips how you can get a better price on auto insurance. The key concept to understand is the more you quote, the better chance you’ll have of finding lower rates. You may be surprised to find that the most savings is with some of the smallest insurance companies. Some small companies may cover specific market segments cheaper as compared to the big name companies such as Progressive or GEICO.