If online car insurance comparisons are new to you, it’s easy to get overwhelmed because of the huge number of online companies offering coverage in Cape Coral.
It’s a good habit to compare rates once or twice a year because insurance rates change frequently. Just because you had the lowest price a couple years back there is a good chance you can find better rates now. So forget anything you know (or think you know) about car insurance because we’re going to show you the fastest way to properly buy coverages and cut your premium.
Are you getting all your discounts?
Companies offering auto insurance do not list every discount in a way that’s easy to find, so the following is a list of both well-publicized and also the lesser-known savings tricks you should be using. If you aren’t receiving every discount you deserve, you’re just leaving money on the table.
- No Accidents – Drivers who don’t have accidents pay less compared to drivers who are more careless.
- Braking Control Discount – Vehicles with anti-lock braking systems can avoid accidents and therefore earn up to a 10% discount.
- Payment Discounts – If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
- Multi-policy Discount – When you combine your home and auto insurance with the same company you will save up to 20% off your total premium.
- Homeowners Savings – Simply owning a home may earn you a small savings because owning a home is proof that your finances are in order.
- One Accident Forgiven – A handful of insurance companies will allow you to have one accident before hitting you with a surcharge if your claims history is clear for a certain period of time.
- New Vehicle Savings – Insuring a new car can save up to 30% because new vehicles have to meet stringent safety requirements.
- Drive Less and Save – Fewer annual miles could qualify for discounted rates on garaged vehicles.
- Paperless Signup – A handful of insurance companies give back up to $50 for buying your policy on their website.
Keep in mind that most discount credits are not given to the entire cost. The majority will only reduce specific coverage prices like comp or med pay. So even though it sounds like you can get free auto insurance, it just doesn’t work that way.
For a list of insurers with the best car insurance discounts in Cape Coral, click this link.
Buy Cheaper Car Insurance with These Tips
Consumers need to have an understanding of the different types of things that come into play when calculating the price you pay for car insurance. Knowing what controls the rates you pay empowers consumers to make smart changes that could result in big savings.
- How many coverages with the same company – The majority of companies will give a discount to insureds who carry more than one policy, otherwise known as a multi-policy discount. Even if you’re getting this discount you still need to shop around to confirm you are receiving the best rates possible.
- Protect your assets with liability insurance – Your policy’s liability coverage is the protection if you are found to be at fault for damages caused by your negligence. It will provide you with a defense in court which can be incredibly expensive. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so buy as much as you can afford.
- Men pay higher rates – Statistics show that women are safer drivers than men. That doesn’t necessarily mean that men are WORSE drivers than women. Women and men have accidents in similar numbers, but men cause more damage. Men also have more aggressive citations like reckless driving and DUI. Youthful male drivers are most likely to cause an accident and therefore are the most expensive to insure.
- Do you know your deductibles? – Physical damage coverage, also known as collision and other-than-collision, protects your car from damage. Some examples of claims that would be covered are collision with another vehicle, collision with an animal, or theft. Your deductibles are the amount of money you are willing to pay out-of-pocket in the event of a claim. The more money the insured has to pay upfront, the lower your rates will be.
- Always keep insurance in force – Driving without insurance is a misdemeanor and car insurance companies will penalize you for letting your insurance expire. Not only will rates go up, failure to provide proof of insurance will get you a license revocation or jail time.You may need to provide proof of insurance in the form of an SR-22 filing with the Florida motor vehicle department to get your license reinstated.
- Pay less after the wedding – Having a wife or husband actually saves money on car insurance. It means you’re more mature and responsible and it’s statistically proven that being married results in fewer claims.
- More miles equals more premium – The more you drive every year the higher your rate. Most insurance companies price each vehicle’s coverage determined by how the vehicle is used. Autos that are left in the garage get more affordable rates compared to those used for work or business. Verify your car insurance policy is showing the correct driver usage.
- With age comes lower rates – Older insureds are more responsible, file fewer claims and are safer drivers. Youthful drivers tend to get distracted easily when behind the wheel therefore car insurance rates are much higher.
Are insurance agents obsolete?
A small number of people would prefer to buy from a local agent. Professional agents can help determine the best coverages and help submit paperwork. The biggest benefit of comparing insurance prices online is the fact that you can find the lowest rates but also keep your business local.
By using this quick form, your information is sent to local insurance agents in Cape Coral who will return price quotes for your business. You don’t have to visit any agencies because quoted prices will be sent to your email. How’s that for easy!
Selecting an provider shouldn’t rely on just a cheap price. Ask your prospective agent these questions:
- Which company do they place the most coverage with?
- Are there any discounts that you might be missing?
- If your car is totalled, how to they determine the replacement cost?
- How much will you save each year by using a higher deductible?
- Is their price quote a firm figure or are their hidden costs?
- Is vehicle mileage a factor when determining depreciation for repairs?
If you want to contact a specific insurance agent in Cape Coral, please click here.
Upon getting positive responses for all questions you ask and locked in a price quote, it’s possible that you found an insurer that can properly insure your vehicles.
More tips and info about car insurance is located at the Florida Office of Insurance Regulation website. Visitors are able to read state legal mandates and laws, read enforcement actions against agents and companies, find out industry alerts, and learn about insurance regulations.
And the best car insurance company is…
Cheap car insurance can be bought from both online companies in addition to many Cape Coral insurance agents, and you need to price shop both to have the best rate selection. Some companies do not provide online price quotes and many times these regional insurance providers only sell through independent insurance agents.
Throughout this article, we presented some good ideas how you can reduce car insurance prices online. The key thing to remember is the more you quote, the higher your chance of finding lower rates. Consumers could even find that the biggest savings come from a smaller regional carrier.
As you shop your coverage around, it’s not a good idea to buy lower coverage limits just to save a few bucks. In many cases, someone dropped physical damage coverage only to find out that the small savings ended up costing them much more. Your goal should be to purchase plenty of coverage at a price you can afford while still protecting your assets.