Smart shoppers know that auto insurance companies want to prevent you from shopping around. People who shop around for a cheaper policy will, in all likelihood, buy a new policy because they have a good chance of finding lower rate quotes. A study discovered that consumers who regularly compared price quotes saved as much as $72 a month compared to those who never shopped around for lower prices.
If finding the lowest price on auto insurance is the reason you’re reading this, then learning about the best ways to find and compare car insurance can help simplify the task of finding more affordable coverage.
The preferred way to find more affordable car insurance rates in Fort Wayne is to compare prices annually from companies in Indiana.
First, get an understanding of how auto insurance works and the measures you can control to lower rates. Many rating factors that cause high rates like accidents, traffic tickets, and a bad credit rating can be remedied by making minor changes in your lifestyle.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only provide price estimates from a single company like Progressive or Farmers Insurance, while independent agents can provide prices for many different companies. Select a company
Third, compare the new quotes to your existing policy and determine if there is any savings. If you find a lower rate and change companies, make sure coverage does not lapse between policies.
The key thing to know about shopping around is to use the same amount of coverage on every price quote and and to get rates from as many companies as possible. Doing this provides an apples-to-apples comparison and a good representation of prices.
Educated Choices Result in Lower Insurance Costs
Multiple criteria are taken into consideration when premium rates are determined. Some factors are common sense such as traffic violations, but other factors are less apparent such as your credit history or your vehicle rating. Smart consumers have a good feel for some of the things that help determine car insurance rates. When you know what positively or negatively controls the rates you pay, this empowers consumers to make smart changes that may result in big savings.
Cheaper prices with safer cars – Vehicles that have high safety ratings cost less to insure. Vehicles built for safety result in less severe injuries and any reduction in injury severity means your insurance company pays less and lower rates for you.
Amount of liability – The liability section of your policy will provide protection if you are found to be at fault for damages caused by your negligence. Liability insurance provides you with a defense in court which can be incredibly expensive. This coverage is very inexpensive as compared to coverage for physical damage, so do not cut corners here.
Lower rates come with age – Older people are more responsible, statistically cause fewer accidents, and are safer drivers. Teen drivers tend to be less responsible when behind the wheel so car insurance rates are higher.
Increase comp and collision deductibles to save – Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, helps pay for damage to your vehicle. Some examples of covered claims are colliding with a building, damage caused by hail, and damage caused by flying debris. Physical damage deductibles define the amount you are required to pay if a covered claim is submitted. The more damage repair cost you are required to pay out-of-pocket, the less your car insurance will be.
Consolidate policies with the same company – Lots of companies give lower prices to insureds that buy multiple policies such as combining an auto and homeowners policy. Even if you already get this discount, consumers should still shop around to guarantee you are still saving the most.
Insurance loss data for Hyundai Veloster vehicles – Insurers include the past claim trends for vehicles to help calculate premium rates. Vehicles that the data determines to have increased losses will cost more for coverage. The table below outlines the compiled insurance loss statistics for Hyundai Veloster vehicles.
For each coverage type, the claim probability for all vehicles averaged together is equal to 100. Numbers that are below 100 indicate a favorable loss history, while percentages above 100 point to more losses or larger claims.
|Specific Hyundai Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Hyundai Veloster Turbo||116||87||104||98||89||101|
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
In the end, you can save money
We just covered many ideas to lower your Hyundai Veloster insurance rates in Fort Wayne. It’s most important to understand that the more rate quotes you have, the higher your chance of finding the cheapest Hyundai Veloster rate quotes. You may even be surprised to find that the lowest rates come from some of the lesser-known companies.
Budget-friendly insurance in Fort Wayne can be purchased on the web and with local Fort Wayne insurance agents, and you need to comparison shop both to have the best rate selection. Some insurance companies may not have the ability to get quotes online and usually these smaller companies prefer to sell through independent agencies.
While you’re price shopping online, never reduce coverage to reduce premium. There have been many situations where an insured cut comprehensive coverage or liability limits and found out when filing a claim that it was a big mistake. The ultimate goal is to get the best coverage possible for the lowest cost while still protecting your assets.
Additional detailed information is available in the articles below:
- How do I File a Claim? (Insurance Information Institute)
- What Insurance is Cheapest for a Chevrolet Equinox in Fort Wayne? (FAQ)
- What Car Insurance is Cheapest for a Hyundai Elantra in Fort Wayne? (FAQ)
- What Insurance is Cheapest for a Subaru Outback in Fort Wayne? (FAQ)
- Who Has Affordable Car Insurance Rates for Business Use in Fort Wayne? (FAQ)
- Older Drivers FAQ (iihs.org)
- Auto Insurance Basics (Insurance Information Institute)
- Can I Drive Legally without Insurance? (Insurance Information Institute)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)