Nobody enjoys paying for car insurance, especially when they know the cost is way too high. Numerous insurance companies battle for your insurance dollar, so it’s not easy to compare every insurer to get the lowest rate possible.
It’s a good idea to do rate comparisons once or twice a year because car insurance prices go up and down regularly. Even if you got the lowest price for Highlander coverage last year you may be paying too much now. You can find a lot of misleading information regarding car insurance out there, but in just a couple of minutes you can learn some tested techniques to lower your car insurance premiums.
Texas car insurance discounts
Car insurance companies do not list every discount they offer very well, so the following is a list of a few of the more well known and also the more inconspicuous discounts that you can inquire about if you .
- Discount for Swiching Early – A few companies allow discounts for buying a new policy prior to the expiration date on your current policy. The savings is around 10%.
- Defensive Driver Discount – Successfully completing a course teaching defensive driver skills could save 5% or more if your company offers it.
- One Accident Forgiven – This one is not really a discount per se, but some companies like Liberty Mutual, Allstate and State Farm permit an accident without the usual rate increase if you are claim-free prior to being involved in the accident.
- Pay Upfront and Save – If paying your policy premium upfront instead of paying each month you could save up to 5%.
- Military Deployment Discount – Having a deployed family member could qualify you for better car insurance rates.
- Student Discounts – Excelling in school could provide a savings of up to 20% or more. Most companies allow this discount until age 25.
- Savings for New Vehicles – Adding a new car to your policy can save you some money since new model year vehicles are generally safer.
- Distant Student – Youth drivers who are attending college and won’t have access to an insured vehicle can receive lower rates.
- Multi-line Discount – Larger insurance companies have a break if you buy auto and life insurance together.
A little disclaimer on discounts, most discounts do not apply to the entire cost. The majority will only reduce individual premiums such as comprehensive or collision. So when the math indicates adding up those discounts means a free policy, that’s just not realistic.
Popular car insurance companies and a selection of discounts are shown below.
- State Farm offers discounts for student away at school, Steer Clear safe driver discount, multiple autos, accident-free, good student, and anti-theft.
- GEICO includes discounts for driver training, multi-policy, good student, daytime running lights, and emergency military deployment.
- Liberty Mutual offers premium reductions for exclusive group savings, good student, hybrid vehicle, preferred payment discount, and multi-policy.
- The Hartford has discounts for defensive driver, vehicle fuel type, anti-theft, air bag, good student, and driver training.
- MetLife may include discounts for accident-free, good driver, multi-policy, good student, defensive driver, and claim-free.
- Progressive discounts include multi-policy, multi-vehicle, good student, online quote discount, homeowner, and continuous coverage.
Before purchasing a policy, check with every insurance company to apply every possible discount. A few discounts may not be offered in every state.
What Affects Toyota Highlander Insurance Rates?
Many things are used in the calculation when premium rates are determined. Some factors are common sense like your driving record, although others are not as apparent like your vehicle usage or your vehicle rating. It’s important that you understand the rating factors that aid in calculating the level of your policy premiums. If you understand what influences your rates, this allows you to make good choices that may result in lower premium levels.
- Gals tend to cost less – Over the last 30 years, statistics show that females tend to be a little less risky than males. However, this does not mean women are better drivers. Men and women cause at-fault accidents in similar percentages, but guys cause more damage and cost insurance companies more money. Not only that, but men also get higher numbers of serious violations such as reckless driving.
- Good drivers pay the best prices – How you drive has a huge affect on how much you pay. Only having one ticket can boost insurance rates forty percent or more. Good drivers get better rates compared to drivers with tickets. Drivers with multiple violations such as reckless driving or DUI might be required by their state to complete a SR-22 with their state in order to legally drive a vehicle.
- Only buy what you need – There are a ton of extra add-on coverages that can add up but may not be useful. Add-on coverages like rental car reimbursement, towing coverage, and extra life insurance coverage are probably not needed. You may think they are a good idea when you first buy your policy, but if you have no use for them get rid of them and save.
- Get hitched and get cheaper costs – Having a wife or husband actually saves money when shopping for car insurance. Having a spouse is viewed as being more responsible and statistics show married couples file fewer claims.
- Your address can modify price – Having an address in less populated areas of the country is a positive aspect when shopping for auto insurance. Lower population translates into fewer accident claims and a lower car theft rate. City drivers have to deal with more auto accidents and higher rates of accident claims. Longer commute distances translates into higher accident risk.
- Know your credit history – A driver’s credit score is a big factor in determining premium rates. If your credit score leaves room for improvement, you could pay less to insure your Toyota Highlander if you clean up your credit. Drivers with good credit tend to file fewer claims than drivers with lower credit ratings.
- Liability protection claims can be big – Your policy’s liability coverage will afford coverage when you are found liable for causing damage or personal injury in an accident. It provides legal defense coverage which can cost a lot. Liability insurance is quite affordable compared to physical damage coverage, so buy as much as you can afford.
What if I want to buy from local Austin auto insurance agents?
A lot of people would rather talk to an insurance agent and that can be a great decision An additional benefit of price shopping on the web is the fact that drivers can get cheap car insurance rates and still choose a local agent.
After completing this short form, the quote information is submitted to participating agents in Austin who will return price quotes for your business. It simplifies rate comparisons since you won’t have to contact an agency because quoted prices will be sent to you. You can get cheaper car insurance rates and work with a local agent. If for some reason you want to get a rate quote for a specific company, you would need to navigate to their website and fill out their quote form.
Selecting an insurer should include more criteria than just a cheap price quote. The questions below may impact your decision as well.
- Will they make sure you get an adequate claim settlement?
- Do they carry Errors and Omissions coverage?
- Are aftermarket or OEM parts used to repair vehicles?
- Does the agent help file claims?
- Are there any hidden costs in their price quote and does it include driving and credit history?
If you prefer to buy car insurance from a reliable insurance agent, you must know there are a couple different agency structures and how they work. Insurance agencies in Austin can be classified as either captive or independent.
Captive Car Insurance Agents
These type of agents work for only one company and some examples include Allstate, State Farm and Farmers Insurance. They generally cannot give you multiple price quotes so you need to shop around if the rates are high. These agents receive extensive training on their company’s products which aids in selling service over price.
Independent Agents (or Brokers)
Independent agents are normally appointed by many insurers so they can insure your vehicles with a variety of different insurance companies and potentially find a lower price. If your agent finds better pricing, the agent simply finds a different carrier without you having to go to a different agency. When comparing rate quotes, you definitely need to compare prices from several independent insurance agents to maximize your price options.
Advertising myths
Well-known car insurance companies like State Farm, Allstate and GEICO endlessly run ads on TV and radio. They all say the same thing that people will save just by moving your coverage. How is it plausible that every one can give you a better price?
Insurance companies have an ideal profile for the type of customer they prefer to insure. For instance, a desirable risk might be a married female, has a low-risk occupation, and drives a car with an anti-theft system. Any driver who meets those qualifications will probably get cheap rates and will probably save when they switch companies.
People who are not a match for those standards must pay a higher rate which translates to the customer buying from a different company. The ads say “customers that switch” not “everyone who quotes” save that much money. That’s why insurance companies can confidently make the claims of big savings. This illustrates why you need to compare rate quotes every year. Because you never know which car insurance company will have the lowest auto insurance rates for your situation.
Texas car insurance information
Additional detailed information is located at the Texas Department of Insurance website. Texas consumers can read enforcement actions against agents and companies, find disaster information, find out which companies have the most complaints, and learn about insurance regulations.
The following articles may also be useful.
- Get Auto Insurance Comparison Quotes From Austin Texas Insurance Agents
- Insider Methods to Cheaper Austin Texas Auto Insurance
Don’t give up on lower rates
As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. There have been many cases where an accident victim reduced uninsured motorist or liability limits and learned later that it was a big error on their part. Your focus should be to get the best coverage possible at the lowest possible cost but still have enough coverage for asset protection.
Some companies don’t offer rate quotes online and most of the time these small, regional companies prefer to sell through independent insurance agents. Cheap Toyota Highlander insurance is attainable both online and also from your neighborhood Austin agents, so you should compare both to have the best chance of lowering rates.