How to Find the Best Insurance Rates
Paying over on auto insurance premiums is a common occurrence. That’s why you should practice due diligence when shopping around to find the best insurance rates for your vehicle. Read on to discover why insurance rates are often too high and how you can find the cheapest insurance.
Reasons for High Insurance Rates
There are many possible reasons for high insurance rates. From your mileage to your location, find out which factors increase the cost of your insurance.
Where you live
Auto insurance companies set rates based on how many accidents there are per area. If you live in a place with high accident rates, this could affect your own insurance premiums even if you are a stellar driver.
Your car
Although safety discounts apply to many newer car models, the fancy bells and whistles can also increase insurance rates. New backup cameras and safety monitors on vehicles are even more expensive to repair, so insurance rates had to rise to meet the needs of expensive cars.
How you drive
Your personal driving history heavily impacts your insurance rates. You are more likely to have higher rates if you have speeding tickets, violations, and accidents on your record.
Find the Cheapest Auto Insurance Rates
Despite the reasons for high insurance premiums, you can still obtain affordable insurance with a few easy steps.
Compare Quotes
Shopping for insurance does require a little leg work, including contacting several insurance companies for quotes on insurance coverage. Consider contacting local insurers, as well as national companies, to get the best range of rates. You can compare these companies online by getting a basic quote that fits your needs and budget.
One of the easiest ways to shop around is by hiring an insurance broker, whose job it is to listen to your specific needs and help find you the best insurance that fits your price range. Contact your local insurance broker to find the best Aurora insurance rates.
Claim All Discounts
When shopping around for insurance, you may not realize how many discounts are available to you. These discounts can be applied directly to your policy and save you money on your premiums for a time. Many insurance companies offer a “bundling discount,” which gives you a percentage off if you start another policy, like renters or homeowners insurance, with them. Here are some more examples of insurance discounts:
- Veteran or military discount
- Discount for federal employees
- Students who have good academic standing (must provide proof of grades)
- Discounts for remaining accident- and violation-free
- Low-mileage discount for driving under a certain amount of miles per year
- Discount for taking a safe driving or defensive driving course
- Safe vehicle discounts for vehicles with updates such as anti-lock brakes, air bags, and anti-theft alarm systems
Customize Your Coverage
Auto insurance is highly customizable, making affordable options easy to come by for most people. For example, you can raise and lower your comprehensive and collision deductibles depending on your vehicle’s worth or your financial situation.
You are required to have both of these deductibles if you lease or finance your vehicle. However, you can forgo these coverages if you own your vehicle outright or your car isn’t worth the expense of repair after an accident, saving you money on your monthly insurance premiums.
