Buying the most affordable Laurel auto insurance on the web can seem to be intimidating for people who are new to buying insurance online. With a ridiculous number of insurers to choose from, how can you even start to compare the different rates to find the cheapest available price?
If you have a current auto insurance policy or need new coverage, you can use these tips to cut your premiums and still get good coverage. Finding the cheapest coverage in Laurel is not that difficult. Mississippi consumers just need to understand the best way to compare company rates online.
How to Lower your Auto Insurance Rates
Smart consumers have a good feel for some of the elements that come into play when calculating the rates you pay for auto insurance. When you know what positively or negatively influences your rates empowers consumers to make smart changes that can help you get lower auto insurance prices.
- Poor credit can mean higher rates – Having a bad credit score is a huge factor in determining your rates. If your credit history is lower than you’d like, you could be paying less to insure your by spending a little time repairing your credit. People with high credit ratings tend to be more responsible than drivers who have poor credit.
- Adjust deductibles and save – Physical damage deductibles represent how much money you are willing to pay in the event of a claim. Coverage for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. Some instances where coverage would apply could be colliding with a building, collision with an animal, and burglary. The higher the amount you are required to pay out-of-pocket, the less your company will charge you for insurance.
- Don’t let your coverage lapse – Letting your insurance expire is a sure-fire way to bump up your auto insurance costs. Not only will you pay more, failure to provide proof of insurance might get you a license revocation or jail time.You may need to file a SR-22 with the Mississippi motor vehicle department to get your license reinstated.
- Lower rates with optional equipment – Driving a car that has an advanced theft prevention system can save you a little every year. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your car from being stolen.
- Add-on coverages can add up – There are quite a few extra bells and whistles that can waste your money on your auto insurance policy. Coverages like personal injury protection, accident forgiveness and membership fees may be wasting your money. These coverages may sound good initially, but your needs may have changed so get rid of them and save.
- Multiple policies with one company can save – Many companies provide better rates to policyholders who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to anywhere from five to ten percent in most cases. Even with this discount, it’s in your best interest to compare rates to ensure the best deal.
- Rates may be lower depending on your job – Did you know that where you work can have an impact on rates? Occupations like doctors, social workers and dentists have the highest average rates due to high stress levels and long work days. Other jobs such as actors, historians and performers get better rates.
- What type of vehicle do you drive? – The make and model of the car you are buying insurance for makes a big difference in the rate you pay. The most favorable rates tend to be for small economy passenger cars, but the final cost of insurance is determined by many other factors.
Don’t miss these discounts
The price of auto insurance can be rather high, but you can get discounts that you may not know about. Some discounts apply automatically when you quote, but some must be inquired about before they will apply. If you aren’t receiving every discount possible, you’re paying more than you need to.
- Auto/Home Discount – When you have multiple policies with one company you could get a discount of up to 20% off your total premium.
- Anti-lock Brake Discount – Vehicles with anti-lock braking systems can reduce accidents and will save you 10% or more.
- Resident Student – Children living away from home attending college and do not have access to a covered vehicle may qualify for this discount.
- Fewer Miles Equal More Savings – Driving fewer miles can earn a substantially lower rate.
- Safe Drivers – Insureds without accidents can pay as much as 50% less than drivers with accidents.
- Discount for Life Insurance – Companies who offer life insurance give a discount if you purchase auto and life insurance together.
- Good Student – This discount can save 20 to 25%. The discount lasts up until you turn 25.
Consumers should know that many deductions do not apply to the entire policy premium. The majority will only reduce the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears all those discounts means the company will pay you, companies don’t profit that way. But all discounts will bring down the cost of coverage.
For a list of insurers with discount auto insurance rates in Mississippi, click here.
Additional information is available on the Mississippi Insurance Department website located here. Consumers can read consumer alerts, read industry bulletins, discover disciplinary actions, and find a variety of consumer forms.
The following articles may also be useful.
Smart shoppers get results
Drivers leave their current company for many reasons like poor customer service, extreme rates for teen drivers, lack of trust in their agent and unfair underwriting practices. It doesn’t matter what your reason, switching auto insurance companies can be easy and end up saving you some money.
As you shop your coverage around, do not skimp on critical coverages to save a buck or two. There have been many cases where someone dropped full coverage and discovered at claim time that it was a big error on their part. Your goal should be to get the best coverage possible at an affordable rate, not the least amount of coverage.
Cost effective auto insurance can be purchased online and also from your neighborhood Laurel agents, and you should compare price quotes from both in order to have the best chance of saving money. There are still a few companies who may not provide the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.