Tag Archives: Auto

Auto Insurance Rates: A Must Know Guide

Posted on by

Crashing dollar

Auto Insurance is confusing and trying to determine fact from fiction makes purchasing auto insurance that much more difficult.  Understand the complexities of auto insurance with this must know guide.  eTotal Insurance is dedicating to helping you understand auto insurance while finding the best auto insurance rates available to you.

An individual’s car insurance rate can be affected by many factors, depending on the insurance company different criteria is used when evaluating an insurance application.  While each company is different, many will look at motor vehicle records to see how many accidents, tickets, and other incidents are on an individual’s driving record.   Many companies will also use an insurance history report to review past claims.  The final piece of information most insurance companies will take into consideration, is credit history. Viewing credit history is to determine how the applicant is classified; this is however, not a full credit report.

The amount of coverage you choose to receive on your auto insurance plan will affect the amount that you pay to your monthly premium.  The majority of your monthly premium will go to the legally required portion of your policy.  Often times other coverage can be reduced or eliminated in order to save money.  Insurance prices can also be based on the deductible you choose to pay.  The higher the deductible, the less money an auto insurance carrier has to pay.  In cases like this, the insurance company is likely to lower the monthly premium because they will not have to pay as much if a claim is filed.  In order to learn about reducing costs by eliminating unnecessary coverage, or requesting a higher deductible, contact your insurance agent today.

Each insurance carrier offers different auto insurance rates and plans, and prices vary widely from company to company.  The auto insurance business is competitive and companies are continuously competing for your business.  The best way to ensure that you are getting the best priced plan available to you is to shop around by comparing quotes for comparable plans available in your area.  To do this online visit a price comparison site such as eTotal Insurance.  If you find that you are getting the best auto insurance rate with your current company there is no need to switch plans.  Prices for the same policy from the same company are set by law, approved by the state and cannot be changed by an agent.  Switching your auto insurance policy is most effective when switching to a new company that can offer comparable coverage at a cheaper price.

Myths associated with auto insurance price:

  • Vehicle color will determine the price of auto insurance: The color of your car will absolutely not affect the price of your auto insurance.  What does matter is the type of car you are driving; auto insurance premiums are based on the make, model, body type, engine size, etc.  Auto insurance rates can also be based on the actual sticker price of the car, the costs to repair it, and safety record.
  • It costs more to insure your car when you are older: This is quite the opposite.  In fact, when drivers reach 55 years of age or older, more discount become available.  Some insurance companies will provide as much as a 20% percent discount for those who qualify.  In addition there are benefits for being retired, as well as additional driving courses
  • Soldiers pay more for auto insurance:   As a thank you for serving our country past and present, soldiers qualify for a discount on auto insurance. There are many auto insurance carriers that will also extend that discount to family members of soldiers.
Share

Auto Insurance Discounts: What do you qualify for?

Posted on by

auto-insurance-quotes-last-2

It’s no secret there are many different types of auto insurance discounts available to drivers.  The secret to receiving these discounts is to know what you qualify for and asking your insurance agent to apply the discount to the auto insurance policy that you purchase.  Don’t miss out on the opportunity to save money on your auto insurance policy.  Below is a list of discounts offered by various insurance agencies, if you fit into one of the categories, be sure to ask your agent if they can apply the discount to your auto insurance plan.

Safe Divers Discount:  It’s no secret that safe drivers are eligible to receive discounts on their auto insurance.  Most companies will offer discounts and other incentives for drivers who are accident free and maintain a good driving record. Each insurance company offers different savings and will vary based on individual location.  In most cases safe drivers can expect to save up to 20%.

Good Students Discount:  It pays to get A’s.  Full time students under 25 years of age are eligible to receive the “good student” discount.  A good student discount will reduce auto premiums for individuals who fall into the good student category and can help save up to 20% on auto insurance rates.  The definition of a “good student” varies from company to company, but as a general rule of thumb a good student has a B Average, a 3.0 GPA, or is on the honor roll or dean’s list.

Resident Student Discount:  If you have a child attending college more than 100 miles from home, you could be eligible for the resident student discount.  Students who fall into this category are limited to students who do not have a car with them while at college and/or who are only driving when visiting home.  Check with your insurance agent today to see if your college student qualifies for the resident student discount, and you can save up to 30% on your auto insurance rates.

55 and Retired Discount: Age related and retiree discounts vary widely from company to company.  The first and most straight forward is the 55 and retired discount; if you are 55 years of age and retired you are eligible to receive discounts on your auto insurance.  Second is the mature driver discount is a discount offered to individuals simply based on their age.  Third is the Senior/Mileage discount is offered to seniors who drive above or below a certain amount of miles annually.  And finally, the retired military discount applies to those who have served our country.  Not all carriers offer all of the discounts listed, if you fall into one of these categories check with you carrier to see if you can save on your auto insurance.

There are a variety of other discounts offered by insurance companies.  Check with your insurance provider if you fall into any of these categories:

  • Multiple vehicle discount
  • New Vehicle discount
  • Anti-theft device discount
  • Driver training discount
  • Defensive driver training discount
  • No Accidents/Moving violations
  • Low annual mileage discount
  • Safe car features discount (airbags, running lights, etc.)
  • Long Time customer discounts

Saving money on your auto insurance can be as easy as asking for the discount.  No matter whom you choose to purchase auto insurance from, be sure to ask what discounts you are eligible to receive.  Asking about discounts will not only help you find the best price when comparing auto insurance, but will also ensure you are paying the lowest auto insurance price available to you.

Share