Top 9 Ways to Save Money on Car Insurance in Benton

Overpriced car insurance can drain your personal savings and put a big crunch on your finances. Comparison shopping is free and is an excellent way to make sure you’re not throwing money away. Insurance companies such as Allstate, Progressive and GEICO all promote huge savings with fancy advertisements and it can be hard to sift through the bull and take the time to shop coverage around.

You should take the time to get comparison quotes once or twice a year since rates are rarely the same from one policy term to another. Even if you got the lowest rates on your last policy you can probably find a better price now. So just block out anything you think you know about car insurance because you’re going to get a crash course in the only way to lower your annual insurance bill.

Discounts are available to cut your rates

The price of auto insurance can be rather high, but you can get discounts that you may not even be aware of. Larger premium reductions will be automatically applied when you quote, but lesser-known reductions have to be asked for before they will apply. If you aren’t receiving every discount available, you are throwing money away.

  • Drivers Education – Cut your cost by having your teen driver enroll in driver’s education in school.
  • Anti-lock Brake Discount – Anti-lock brake equipped vehicles prevent accidents and will save you 10% or more.
  • Seat Belts Save more than Lives – Buckling up and requiring all passengers to use their safety belts could save 15% on the medical payments or PIP coverage costs.
  • Homeowners Savings – Being a homeowner can help you save on car insurance due to the fact that maintaining a home is proof that your finances are in order.
  • College Student – Children who are attending college and don’t have a car can receive lower rates.
  • Discount for Swiching Early – Select companies give a discount for switching policies prior to your current policy expiring. The savings is around 10%.
  • Save over 55 – If you qualify as a senior citizen, you may qualify for a discount up to 10%.
  • Good Students Pay Less – Performing well in school can be rewarded with saving of up to 25%. This discount can apply up until you turn 25.
  • Passive Restraint Discount – Vehicles equipped with air bags can receive discounts of up to 25% or more.

Keep in mind that many deductions do not apply to the entire policy premium. Most cut the price of certain insurance coverages like physical damage coverage or medical payments. Just because it seems like having all the discounts means you get insurance for free, it doesn’t quite work that way. Any amount of discount will bring down the cost of coverage.

To see a list of providers who offer car insurance discounts in Arkansas, click this link.

Finding Car Insurance Deals in Benton, Arkansas

Getting a lower price on insurance is a fairly straight forward process. You just have to spend a few minutes on the computer comparing rates from different insurance companies. This can be accomplished using a couple different methods.

  1. The first (and easiest) way to compare a lot of rates at once is to use a rate comparison form (click to open form in new window). This type of form prevents you from having to do multiple quote forms to each individual car insurance company. Completing one form will get you rate comparisons direct from many companies.
  2. Another way to analyze rates is to take the time to go to each company’s website to request a price quote. For example, let’s assume you want to compare Allstate, Liberty Mutual and Travelers. To get rate quotes you would need to spend time on each company’s site and enter your information, which is why the first method is quicker. To view a list of companies in Benton, click here.
  3. The most time-consuming way of comparing rate quotes to different Benton agent offices. The ability to buy insurance online eliminates the need for an insurance agent unless you want the personal advice that only a license agent can provide. It is possible to price shop online and still use a local agent and we’ll cover that in a bit.

It doesn’t matter which method you choose, just ensure you’re using exactly the same coverages for each comparison quote. If each company quotes higher or lower deductibles then you won’t be able to determine which rate is truly the best in Benton.

Buying car insurance from a local agent

Some people just want to sit down with an agent. Agents are trained to spot inefficiencies and help you file claims. One of the best bonuses of comparing rates online is you can get better rates but also keep your business local. And providing support for small agencies is especially important in Benton.

For easy comparison, once you complete this simple form, your insurance coverage information gets sent to agents in your area who will compete for your insurance coverage. There is no need to leave your house because quoted prices will be sent to the email address you provide. It doesn’t get any easier!

Do you need an independent or captive insurance agent?

When looking for an insurance agent, there are two different types of agents that you can select. Insurance agencies in Benton are categorized either independent (non-captive) or captive. While both can write coverage properly, but it’s good to learn the differences since it can impact your agent selection.

Independent Agents

These agents are not locked into one company so they have the ability to put coverage with any number of different companies and possibly get better coverage at lower prices. If your agent finds better pricing, the business is moved internally and you don’t have to find a new agent. When shopping rates, we recommend you contact several independent insurance agents for the best price selection.

Listed below are independent insurance agencies in Benton that are able to give price quotes.

Direct General Ins Agency – 1412 Military Rd – Benton, AR 72015 – (501) 315-2660
Farm Bureau Insurance – 1700 Hot Springs Hwy – Benton, AR 72015 – (501) 315-0676
Federated Insurance – 1215 Military Rd – Benton, AR 72015 – (501) 315-1729

Agency Captives

These agents work for only one company such as Farmers Insurance or State Farm. These agents are not able to shop your coverage around so they have to upsell other benefits. Captive agents receive extensive training on the products they sell which helps them compete with independent agents.

Below are captive insurance agents in Benton that can give you price money image

State Farm Insurance – 204 Woodland – Benton, AR 72019 – (501) 778-7243
Allstate Insurance Co – 1225 Hot Springs Hwy – Benton, AR 72019 – (501) 778-6229
Farm Bureau Insurance – 1700 Hot Springs Hwy – Benton, AR 72015 – (501) 315-0676
Shelter Insurance – 2013 Military Rd # A – Benton, AR 72015 – (501) 776-3600

To view a complete directory of captive agencies in Benton, please view this page.

Selecting an insurance agency should depend on more than just the price. Here are some questions to ask:

  • Is vehicle mileage a factor when determining depreciation for repairs?
  • Are they able to influence company decisions when a claim is filed?
  • What is the agency’s Better Business Bureau rating?
  • Do they feel the quoted coverages are adequate?
  • Are they full-time agents?
  • Do they review policy coverages at every renewal?
  • Which insurance companies are they affiliated with?

Once you have good answers to your questions and an acceptable price quote, you may have just found an insurance agent that meets your needs to service your policy.

Car insurance specifics

Having a good grasp of your policy can help you determine appropriate coverage at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverage types found on the average car insurance policy.

UM/UIM Coverage

This coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.

Due to the fact that many Arkansas drivers have only the minimum liability required by law (Arkansas limits are 25/50/25), their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.

Medical costs insurance

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills such as surgery, funeral costs, dental work and prosthetic devices. They are utilized in addition to your health insurance program or if you do not have health coverage. It covers not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Liability auto insurance

This provides protection from damages or injuries you inflict on other people or property by causing an accident. It protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.

Liability can pay for things such as funeral expenses, medical expenses and repair costs for stationary objects. How much liability coverage do you need? That is a decision to put some thought into, but buy higher limits if possible. Arkansas requires minimum liability limits of 25,000/50,000/25,000 but you should consider buying higher limits.

Comprehensive or Other Than Collision

save money concept

This coverage pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like damage from flooding, hitting a bird, falling objects, theft and rock chips in glass. The most your car insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Collision insurance

Collision insurance covers damage to your vehicle from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for things like colliding with another moving vehicle, crashing into a ditch, driving through your garage door and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.

One last thing about your coverage

Cheaper car insurance is attainable on the web and also from your neighborhood Benton agents, so you should compare both to get a complete price analysis. Some insurance providers may not provide the ability to get a quote online and usually these small, regional companies provide coverage only through local independent agents.

We’ve covered a lot of techniques to shop for car insurance online. The key concept to understand is the more price quotes you have, the better your chances of lowering your rates. You may even find the lowest premiums are with an unexpected company. Regional companies may cover specific market segments cheaper compared to the large companies like Allstate, GEICO and Progressive.

Additional information can be found on the website for the Arkansas Insurance Department found here. Consumers can read industry bulletins, view agent and company licensing information, and learn about specific coverages.

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