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Low Car Insurance Rates

Getting low car insurance rates is the goal of almost every driver, but few people know exactly what the insurance companies want. The information below contains the seven secret areas that unlock the cheapest auto insurance rates. Before you read this great information, enter your ZIP code into our FREE car insurance comparison tool and get low car insurances rate Instantly!

Cost of Car Insurance

Have you ever wondered how one person can pay thousands more than a neighbor for the same vehicle? Car insurance rates vary for several reasons, including the insurance company s underwriting standards and the driver s claims risk. Low car insurance rates are based on the policy owner s vehicle, driving record, credit history, and location. The rates also fluctuate based on the discounts applied to the policy, the chosen coverage limits, and the deductibles. Find the best rates and compare car insurance companies for FREE with our ZIP code search!

The first secret to low car insurance rates is to select a dependable, low-risk automobile. In general, new car insurance costs more to than used car insurance, luxury automobiles cost more than standard automobiles, and vehicles with poor safety records cost more than the top safety picks. Cars with expensive custom parts also tend to cost more to insure than standard models. At the same time, cars that are usually chosen by teen drivers, such as base model compacts, incur higher car insurance rates than the minivans, SUVs, and station wagons typically chosen by families.

Any class of vehicle can earn low insurance prices by having the following features:

  • Anti-lock brakes
  • Daytime running lights
  • Airbags
  • Anti-theft device
  • Theft tracking system

When choosing which vehicles to purchase and insure, consumers can use a car insurance comparison site to obtain multiple quotes within minutes. Because the quotes are free, a number of options can be researched to find the best rates.

2. Driving Record

The second way to save on car insurance costs is to maintain a clean driving record. Insurance companies reward people with safe driving behaviors and give them the good driving discounts. The good news is that even people with minor accidents or moving violations can regain low insurance premiums after a waiting period of three to five years. Customers who take defensive driving courses and driver training courses are often rewarded with additional savings.

Few drivers understand that bad credit can send insurance rates skyrocketing. Through extensive analysis, insurers have determined that customers who fail to pay their bills on time are also more likely to submit high claims. Since claims take money out of the insurers pockets, they charge more for risky credit profiles. On the other hand, policy owners with a history of using credit wisely can gain a savings of 5 – 10%. Because the importance of good credit varies from insurer to insurer, taking the time to compare car insurance quotes is crucial. There is a chance you could get cheap car insurance with bad credit .

4. Location

The fourth opportunity to get low auto insurance rates requires moving to select locations across the United States. Car insurance companies track the number of accidents and thefts that occur in neighborhoods across the country. Anyone who lives outside these high-risk areas can enjoy substantial savings.

As of 2010, the Insurance Information Institute had identified the following cities as the least expensive places to insure a vehicle:

  • Wapakoneta, Ohio
  • Fairfield, Ohio
  • Portland, Maine
  • Roanoke, Virginia
  • Lafayette, Indiana

The most expensive cities for car insurance had been ranked as Detroit, New Orleans, Philadelphia, Baltimore, and Miami.

5. Discounts

The fifth way to capture low premiums is to take advantage of all available car insurance discounts offered by the insurance company. Common discounts include the following:

  • Multiple policies
  • Good student
  • Online statements
  • Low mileage
  • Group membership

By comparing multiple auto insurance companies, savvy shoppers can view a list of applicable discounts and get the lowest price. Even if a discount is not advertised, insurers may be willing to negotiate the rates in order to earn your business.

Adjusting coverage limits is yet another technique for getting low car insurance rates. Coverage is typically noted as three numbers, such as 25/50/10.

  • The first number is the maximum amount an insurer will pay toward one person injured in an accident. In this example, the insurer would pay up to $25,000.
  • The second number is the maximum the same insurer will pay for all injuries occurring in a single accident, such as the $50,000 seen above.
  • The third number represents the most the insurer will pay for property damage in that accident. In this case, $10,000 is the limit.

Each state sets its own minimum coverage requirements for auto insurance. Lower limits come with lower monthly payments, but they can also leave the driver at risk for large out-of-pocket expenses after a major accident. The simplest way to find the cheapest insurance company for a certain coverage limit is to submit a free online quote and compare the results.

7. Deductible

The final secret to reducing into low car insurance rates is to increase the deductible. The deductible is the amount a policy owner must pay before the insurance company will pay any money toward a claim. Most policies have one deductible for collision, which covers accidents, and another deductible for comprehensive, which is used for vandalism or wind/hail damage. Because policy owners with high deductibles are agreeing to bear a large portion of the financial risk, they are given low car insurance rates. Lower deductibles transfer risk to the insurer, so rates go up. Compare low car insurance rates by entering your ZIP code into our FREE car insurance comparison search!

Overall, getting low car insurance rates depends on the driver s behaviors and the policy options selected during the application process. Because so much of an auto insurance policy can be customized, the easiest method for discovering the price on a specific combination is to request free comparison quotes. To uncover the best deal on the coverage you need, start a car insurance comparison today. Enter your ZIP code and compare car insurance for FREE!





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