- May 3, 2017
- Posted by: FREECARBUYINFOSITE
- Category: Car Credit, Ultimate Auto Researcher
If you think that car insurance is an element of the car buying process over which you have no control, think again. A little bit of hard work can repay you with considerable savings provided you know what you’re doing. So, here’s 37 of the very best moves you can make.
What you can do!
- Maintain Good Credit
Some insurance companies consider Credit as one of the factors when pricing your policy. Maintaining good credit can help you get lower rates.
2.Take a Safe Driver Course
Taking a safe drive course can make a significant difference in your insurance premiums. It’ll cost you, but you’ll claw most of that back in the first year.
3.Pay Longer Term
Pay your premium over a longer term — every 6 months or yearly. You’ll save both on insurance and on the monthly processing fee (usually $5).
- Auto Pay
Some insurers discount charges for those who set up auto pay. You’ll save the cost and hassle of having to mail payments. And you’ll also save valuable time.
- Work in a Low Risk Profession
Some companies consider the insured party’s profession when calculating rates. Working in a low risk profession could benefit you. If you work in a high risk profession, avoid these companies.
- Drive Conservatively
Careful driving helps create a clean driving record. This can have a big effect.
Allstate has a program where you save up to 35% for driving 60 months without any violations or accidents.
- Correct Errors
Correct any errors on your driving record that might negatively affect your policy. You can view your driving record online at: http://www.dmv.org/driving-records.php
- Where You Live Matters
Here are the most expensive and least expensive states for insurance according to the National Association of Insurance Commissioners. North Dakota is least expensive whereas Washington DC is most expensive.
Most Expensive
- D.C.
- New Jersey
- Louisiana
- New York
- Florida
- Rhode Island
- Delaware
- Nevada
- Massachusetts
- Connecticut
Least Expensive
- North Dakota
- Iowa
- South Dakota
- Nebraska
- Idaho
- Kansas
- Wisconsin
- North Carolina
- Maine
- Indiana
- Don’t have gaps in coverage
Don’t allow a gap in coverage. This can make a big difference! If
you change location or insurance company, save proof of coverage as well as phone numbers and account numbers.
- Don’t buy Rental Insurance
Before renting a car on vacation, check whether your regular insurance covers
you so you don’t have to purchase renters insurance. Usually it does but rental companies won’t tell you!
- Comparison shop for agents and insurers
Start by calling Geico (800) 841-3000, the leader in the insurance field. Then go online and try progressive.com which will give
you multiple companies rates. Then check out your local Allstate agent. Allstate sometimes has special programs to fit certain drivers. Lastly consult with
a local Independent Agent who carries a bunch of different companies.
I recently got a call from my agent David Joyner here in Florida (941) 412-4307. I was paying $142/month with State Farm for two vehicles (1
financed and 1 leased) and he told me about a new program The Hartford came out with that lowered my payment to $97 per month! The fact that he dealt with a wide range of insurers allowed him to know about this awesome new program!
- Check rates frequently
Just like anything, rates can change unexpectedly. I suggest you check rates every 6 months or when your circumstances dramatically change.
- Mutual Insurance Companies
According to Wikipedia: ‘A mutual insurance company is an insurance
company owned entirely by its policyholders. Any profits earned by a mutual insurance company are rebated to policyholders in the form of dividend distributions or reduced future premiums.’
United States
- Acacia Life Insurance Company
- American Family Insurance
- Ameritas Life Insurance Company
- Amica Mutual Insurance Company
- Assurity Life Insurance Company
- Auto-Owners Insurance
- CAMICO
- Commonwealth Mutual Insurance Company of America
- Connecticut Mutual Life Insurance
- COUNTRY Financial
- CUNA Mutual Group
- Employers Mutual Casualty Company
- FM Global
- Grange Mutual Casualty Company
- Guardian Life
- Health Care Service Corporation
- Blue Cross Blue Shield of Illinois, Michigan, New Mexico, Oklahoma & Texas
- Horace Mann
- Lafayette Life
- Liberty Mutual
- Massachusetts Mutual Life Insurance Company
- Medical Mutual of Ohio
- Minnesota Mutual Companies, Inc.
- Missouri Employers Mutual
- Mutual Benefit Life Insurance
- Mutual of America
- Mutual of Omaha
- National Life Group
- Nationwide Mutual Insurance Company
- New England Life
- New York Central Mutual Fire Insurance Company
- New York Life
- The Norfolk & Dedham Group
- Noridian Mutual Insurance Company
- Northwestern Mutual
- Ohio National Life Insurance Company
- Pacific Life Insurance Company
- PEMCO
- Penn Mutual
- Pure
- Sentry Insurance
- Shelter Insurance
- State Farm Insurance
- State Mutual Insurance Company
- UNIFI Companies
- Union Central Life Insurance Company
- USAA
- Wisconsin Mutual Insurance Company
- Western Mutual Insurance Group
- Check Credentials
You can check the credentials of agents and insurance companies at the following website: http://insurance.state.gov to make sure you’re dealing with a bona fide company on which you can rely.
- Group and Employer Discounts
Check with your employer or club to see if they offer group rates. Clergy
and Govt come to mind.
- Senior Discount
Some Insurance Companies offer senior discounts. It’s worth checking to see whether you are eligible.
- Low Mileage Discount
Many insurance companies offer low mileage discounts to drivers who don’t drive a lot. You may be required annually to prove and certify that you are indeed a low mileage driver. Proof is often in the form of photographs of the odometer. This is a small inconvenience if it results in substantial savings.
- Student Good Grade Discount
I’ve heard that some insurers offer a discount for good grades. Check with
insurers if you think you might qualify. According to their website, Allstate is one such company.
- Continuity Discount
Many insurance companies give discounts to long term customers.
- Military Discount
USAA is among the insurers who give a discount to active, retired and family of military.
- Telematic Monitoring Device
This device monitors your driving habits:
- Speed
- Time driving took place
- Braking
- Acceleration
- Your following distance
Progressive was a pioneer in this. Assuming you drive according to their guidelines, you can save up to 15%. But if the data shows you up as a poor driver, you might actually end up paying more! Allstate and State Farm have since jumped on the bandwagon with Telematic programs of their own.
- Married Discount
If you’re married or you get married, most insurance companies will give you a break. Check to see if your company does this.
- How you Use the Car
How you use the vehicle can play a big part in calculating your premium. If the vehicle is strictly for personal use, be sure to tell your insurer.
- Multi Vehicle Discount
You can get a discount if you insure multiple vehicles. Keep in mind this doesn’t just go for cars. It could also include trucks as well as more obscure vehicles like motorcycles, boats and RVs.
- Professional organizations
Groups like AAA can sometimes give you a nice discount if you are a member.
- Policy Adjustments/Tailoring your Policy
Higher Deductible/Lower-Limits: You can save money by raising the deductible and/or lowering your policy limits. Just be sure if you’re leasing or financing that it meets your lender’s minimum requirements.
- Bundle Coverage
Save money by having multiple insurance coverages with the same insurer. This can include car, life, health, disability, renters or all your insurance under an umbrella policy. Just be careful to be aware if the insurer stops offering coverage on a product. They may try to quietly reprice on the remaining products! This happened to me when we were living on Long Island NY. Allstate stopped offering Home Owners Insurance in that area as they were afraid that a hurricane might hit. When they cancelled the homeowners,
they wanted to raise our car insurance way up even though we had never had a claim!
- Cancel Towing
Many manufacturers (such as Honda) offer complimentary Roadside Assistance when you purchase a new car. Many manufacturer ‘Certified’ also have this.
- Remove Car Rental
You may wish to remove Car Rental coverage where it benefits your premium. I would do this only if you have a very reliable car or have rental coverage through another entity.
- Drop Collision Coverage
For an older car you may want to drop coverage that reimburses the value of the vehicle in the event of an accident.
- Drop Glass Coverage
You could drop glass coverage. you can drop is glass
coverage Although I believe that in some states glass coverage is mandatory.
- Check for Unwanted Coverages
Contact your current insurance agent and go over the policy with a fine
tooth comb to make sure that you are not paying for unnecessary coverages
You might be surprised by what you find!
- Cars with low rates
Cars all have different ratings depending on a wide variety of factors. I advise that before buying, you check rates using their comparison tool here:
insure.com
- Safety Features
Carefully check any car you are considering buying, as safety features can make a big difference. For sure you want backup camera and a good government safety rating. On a higher level model, you’ll want to have Collision Braking Mitigation, Lane Keeping and Adaptive Cruise Control as well as some form of blind spot monitoring and sensors.
- Window Etching
Window Etching is a decent theft deterrent but I wouldn’t pay what most dealers charge. Consider instead contacting an after market specialist.
- LoJack or Similar
This is all about getting the vehicle back once it’s stolen. Many insurers will give you a discount if you have it installed but best to check before getting the work done as savings alone might not warrant installation.
- Other Recommendations
- Save all your receipts in a separate folder. Include purchase, options added and repairs. If your car is stolen or you have a major accident, it will make it immeasurably easier to collect and get more.
- Having these receipts will help you get warranties honored and you’ll get more when you sell or trade it in.
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Hopefully these insights have given you pause for thought. With these thoughts in mind you’ll be well equipped to get yourself a nice deal on car insurance when next you look to buy.
Automotive expert Jim Timpson has put together a series of car related reports and research tools that will greatly benefit anyone thinking of buying a vehicle. These reports are 100% free without obligation and can be accessed at FreeCarBuyingInfo.com
Jim Timpson is a long time Internet Sales Manager at Venice Honda in Venice Florida (34285). He works on a flat fee basis (not commission), which makes him uniquely qualified to help find the ideal car and get the best deal. He works primarily on an appointment basis so you can schedule time to deal directly with him.
If you have any questions or you’d like to discuss your needs, you can call or text Jim at (941) 786-6122 or email him at Jim@FreeCarBuyingInfo.com. If you care to stop by, he will happily greet you with a handshake and a smile. Buying a car should be fast, easy and above all fun!
