You have probably seen the captivating commercials from companies like Liberty Mutual and Farmers that say if you switch you’ll get big savings, so drivers should just choose any one of them, right?
It’s just not that simple, as there are a ton of unknown factors such as citations or tickets, if you have ever had a coverage lapse, and what level of deductibles you wish to have, that all impact the cost of coverage. We will touch on some of these things and will hopefully give you a good beginning to your quest for cheaper car insurance in Indiana.
Comparing quotes for affordable insurance is easier said than done, and determining which companies have the best car insurance rates for real estate agents calls for a bit more work. Each insurer has a unique approach to set premium rates, so first we will examine the car insurance companies with the most affordable rates in Fort Wayne, IN.
Lowest Insurance Price Quotes for Realtors
|Rank||Company||Cost Per Year|
|5||Indiana Farmers Mutual||$841|
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Travelers quotes some of the most affordable car insurance rates in Fort Wayne at around $596 a year. This is $644 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Indiana Farmers Mutual are also some of the more affordable Fort Wayne, IN car insurance companies.
In the rate table above, if you are a policyholder with Erie and switched to Cincinnati Insurance, you might achieve savings of roughly $47. Drivers with Indiana Farmers Mutual might save as much as $183 a year, and Western Reserve policyholders might see rate reductions of $188 a year.
Be aware that those premiums are averages for all ages of drivers and types of vehicles and are not factoring in an exact vehicle garaging location for real estate agents. So the insurer that can offer you the lowest price may not even be in the top 36 companies in the list above. That emphasizes why you need to get auto insurance quotes using your own driver and vehicle profiles.
For realtors, one of the big factors that are looked at to help calculate insurance cost is your zip code in Fort Wayne. Cities with larger populations or higher claim trends tend to have more expensive auto insurance rates, whereas areas with lower vehicle theft rates and fewer weather claims have the luxury of lower rates.
The following table sorts the highest-priced places in Indiana for real estate agents to purchase auto insurance in. Fort Wayne makes the list at #18 with a yearly premium of $956 for coverage, which is about $80 per month.
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Premium amounts are comparative as the specific garaging location can influence prices greatly.
The car, truck, or SUV you are buying coverage for is a large consideration when comparison shopping for the lowest-priced auto insurance for real estate agents. Vehicles with limited top-end speed, good crash test ratings, or low incidents of liability claims will cost quite a bit less to insure than adrenaline junky models.
The list below illustrates auto insurance costs for a number of the cheapest automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Jeep Wrangler Sahara 4WD 2-Dr||$968|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,010|
|Ford Focus SEL 4-Dr Sedan||$1,056|
|Ford Escape XLS 4WD||$1,058|
|Honda CR-V EX-L 4WD||$1,084|
|Hyundai Sonata GLS 4-Dr Sedan||$1,092|
|Toyota Corolla XRS||$1,096|
|Chevrolet Equinox LTZ 2WD||$1,102|
|Ford Explorer XLT 4WD||$1,111|
|Honda Accord LX-S 2-Dr Coupe||$1,147|
|Toyota Camry Hybrid||$1,168|
|Jeep Grand Cherokee Laredo 2WD||$1,172|
|Dodge Ram 2500 Crew Cab ST 4WD||$1,187|
|Chevrolet Malibu LT||$1,193|
|Ford F-150 FX4 Super Cab 4WD||$1,203|
|Toyota Tacoma Double Cab TRD Sport Package 4WD||$1,193|
|Honda Civic EX 4-Dr Sedan||$1,210|
|Chevrolet Impala LS||$1,225|
|Honda Odyssey EX-L||$1,233|
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Price data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Information does not factor in specific garaging location which can impact price quotes noticeably.
Looking at the numbers, you can expect makes and models like the Jeep Wrangler, Volkswagen Jetta, and Ford Focus should be a few of the most economical vehicles to insure for realtors.
Full coverage rates vs. liability-only in Fort Wayne
Paying a lower price for car insurance is important to most vehicle owners, and one of the quickest ways to buy cheap insurance for real estate agents is to only buy liability coverage. The illustration below compares premium costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on no violations or accidents, $250 deductibles, single marital status, and no discounts are applied.
Averaged out for all age groups, physical damage coverage costs an extra $1,975 per year more than just buying liability only. That amount may make you wonder if paying for full coverage is worth it. There is no exact rule for excluding physical damage coverage on your policy, but there is a general convention. If the annual cost of coverage is more than 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
Impact of violations and accidents on rates
One of the best ways to maintain the best car insurance prices for realtors is to drive safe and avoid traffic citations and accidents. The chart below demonstrates how speeding tickets and at-fault fender-benders drive up premium costs for each different age group. The data is based on a married male driver, comprehensive and collision coverage, $100 deductibles, and no policy discounts are applied.
In the previous chart, the average cost of a car insurance policy per year with no accidents or violations is $1,380. Receive one speeding ticket and the average cost swells to $1,582, an increase of $202 each year. Then include two accidents along with the one speeding ticket and the 12-month cost of car insurance for real estate agents increases to an average of $3,286. That’s an increase of $1,906, or $159 per month, just for not maintaining a clean driving record!
Get discount Fort Wayne auto insurance
Insurance providers that provide policies for real estate agents may have special discounts that may potentially lower prices by 25% or more if you meet specific eligibility requirements. A few of the larger companies and their offered discounts are outlined below.
- GEICO offers discounts including good student, membership and employees, multi-policy, seat belt use, and air bags.
- Mercury Insurance policyholders can earn discounts including type of vehicle, annual mileage, location of vehicle, anti-theft, and age of vehicle.
- Farmers Insurance may include discounts for distant student, bundle discounts, electronic funds transfer, mature driver, early shopping, good student, and teen driver.
- Auto-Owners Insurance offers premium reductions for safe driver, multi-policy, good student, paid in full, company car, teen driver, and air bags.
- Liberty Mutual has savings for teen driver discount, new move discount, hybrid vehicle, new vehicle discount, newly retired, good student, and safety features.
- SAFECO has discounts for safe driver, accident prevention training, teen safety rewards, anti-theft, multi-car, homeowner, and bundle discounts.
- Progressive offers discounts for online quote discount, homeowner, multi-vehicle, continuous coverage, good student, multi-policy, and online signing.
- USAA may have discounts that include military installation, multi-vehicle, multi-policy, loyalty savings, new vehicle, and annual mileage.
The example below illustrates the comparison of auto insurance costs with and without discounts applied to the premium. The premiums assume a male driver, no accidents, no driving violations, Indiana state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second shows the rates with accident-free, vehicle safety, marriage, defensive driving course, multiple vehicle, and homeowner discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on car insurance for real estate agents is 27% or $449.
How to find economical insurance for real estate agents
Here are some of the better penny-pinching ideas that can help you get cheap coverage.
- Prevent rate increases by staying accident-free
- Raise deductibles
- Do not get tickets
- Buy vehicles with good safety ratings
- Don’t waste money on full coverage for older vehicles
- Pay cheaper rates with good credit scores
- Compare rate quotes often
The final tip is highly significant, as was affirmed in this write-up. Insurance prices can change considerably in a year, so don’t be afraid to buy from a new company if a lower price can be found. Brand loyalty is not necessarily bad, but it isn’t a good idea if that loyalty results in overpaying thousands of dollars over several years. In just a few minutes you could compare rates to find cheaper car insurance for real estate agents in Fort Wayne.