I can’t think of anyone who looks forward to paying premiums for car insurance, especially when they know they could get a better deal. Companies like GEICO, 21st Century and Progressive increase brand awareness with catchy ads and it is difficult to separate fact from fiction and take the time to shop coverage around.
It’s smart to take a look at other company’s rates at least once a year because insurance rates change frequently. Just because you found the best deal on Equinox coverage a year ago a different company probably has better prices today. There are lots of tips to save on car insurance on the web, but in this article, you’re going to get some good information on how to buy car insurance cheaper.
More discounts mean lower premiums
Some companies do not advertise all available discounts in a way that’s easy to find, so the list below contains a few of the more well known as well as some of the hidden credits that you can use to lower your rates.
- ABS and Traction Control Discounts – Anti-lock brake equipped vehicles can avoid accidents and therefore earn up to a 10% discount.
- Discount for Home Ownership – Owning your own home or condo can help you save on car insurance since owning and maintaining a home means you have a higher level of financial diligence.
- Seat Belt Usage – Drivers who always wear seat belts and also require passengers to wear their seat belts can save up to 10 percent (depending on the company) off the medical payments premium.
- Accident Waiver – but a handful of insurance companies will forgive one accident before raising your premiums with the catch being you have to be claim-free prior to being involved in the accident.
- Sign Early and Save – Some larger companies give discounts for switching policies prior to your current policy expiring. It’s a savings of about 10%.
- Multiple Vehicles – Having multiple cars with one company can get a discount for every vehicle.
One thing to note about discounts is that most discounts do not apply to the overall cost of the policy. Most only cut specific coverage prices like liability, collision or medical payments. If you do the math and it seems like adding up those discounts means a free policy, insurance companies wouldn’t stay in business.
A few companies that may offer policyholders most of these discounts are:
If you want , ask every prospective company how many discounts you can get. Some of the discounts discussed earlier may not apply to policyholders in every state. To find insurance companies that offer discounts in Fort Worth, click here to view.
Auto insurance agents are professional risk managers
Some people still like to sit down with an agent and that is not a bad decision Good insurance agents are trained risk managers and help you file claims. One of the great benefits of comparing insurance prices online is the fact that drivers can get lower rates but also keep your business local.
To make it easy to find an agent, after completing this short form, your information is sent to local insurance agents in Fort Worth that provide for your business. There is no reason to leave your computer due to the fact that quote results will go instantly to you. If you wish to compare prices from a specific car insurance provider, you can always jump over to their website and complete a quote there.
Finding the right provider requires you to look at more than just a low price. Agents should be asked these questions:
- Does the agent have professional designations like CIC, CPCU or AIC?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Is there a local claims center in Fort Worth?
- What insurance companies do they work with in Fort Worth?
- How does the company pay claims for a total loss?
- Do they have any clout with companies to ensure a fair claim settlement?
- How much training do they have in personal risk management?
- Is vehicle damage repaired with OEM or aftermarket parts?
If you would like to find an insurance agent, it’s important to understand the different types of agencies and how they operate. Car insurance policy providers are classified as either independent (non-captive) or captive. Either can insure your vehicles, but it’s a good idea to understand the difference between them because it can impact your agent selection.
Captive Insurance Agents
Agents that choose to be captive work for only one company such as State Farm, AAA, and Liberty Mutual. Captives cannot shop your coverage around so you need to shop around if the rates are high. Captives are trained well on the products they sell which aids in selling service over price.
Independent Agencies or Brokers
Agents that choose to be independent are not employed by any specific company so they have the ability to put coverage amongst many companies and find you the best rates. If you are not satisfied with one company, they simply move your policy to a different company which is easy for the insured.
When comparing rates, you definitely need to get rate quotes from at a minimum one independent agency to get the best comparison.
Drivers who switch save $447 a year? Really?
Consumers in Texas constantly see and hear ads that claim the best prices from the likes of Allstate, GEICO and Progressive. They all seem to advertise claims of big savings just by switching your coverage.
How does each company charge you a lower premium? It’s all in the numbers.
Most companies offer their best rates for the type of driver that makes them money. An example of this type of insured might be married and over the age of 30, has never had a claim, and drives a safe vehicle. Anyone that hits that “sweet spot” will get the preferred prices and have a good chance to save quite a bit of money when switching.
Consumers who do not fit these criteria will probably have to pay a higher rate and this can result in business going elsewhere. If you listen closely, the ads state “customers who switch” but not “everyone who gets a quote” save that much money. This is how insurance companies can confidently make it sound like they have such great rates. Different companies use different criteria so you really should compare many company’s rates. Because you cannot predict which insurance companies will have the best prices.
Car insurance coverage breakdown
Knowing the specifics of your policy can help you determine the right coverages at the best deductibles and correct limits. Car insurance terms can be ambiguous and coverage can change by endorsement. These are typical coverage types found on most car insurance policies.
Comprehensive protection – This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things such as a tree branch falling on your vehicle, vandalism, theft, damage from flooding and damage from getting keyed. The highest amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Liability car insurance – Liability insurance provides protection from damage that occurs to a person or their property. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.
Liability can pay for things such as repair costs for stationary objects, medical expenses, legal defense fees, bail bonds and attorney fees. How much liability should you purchase? That is a decision to put some thought into, but consider buying as much as you can afford. Texas state law requires minimum liability limits of 30,000/60,000/25,000 but drivers should carry more liability than the minimum.
Collision coverages – This pays for damage to your Equinox caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like crashing into a ditch, hitting a parking meter and driving through your garage door. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Uninsured or underinsured coverage – This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Chevy Equinox.
Since a lot of drivers only purchase the least amount of liability that is required (30/60/25 in Texas), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses like nursing services, hospital visits, surgery and dental work. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states and gives slightly broader coverage than med pay
More detailed Texas car insurance information is located at the Texas Department of Insurance website. Texas consumers can view agent and company licensing information, read industry bulletins, file complaints about an insurance agent or broker, and find out which companies have the most complaints.
The following information may also be useful.
- Compare Fort Worth Auto Insurance for Less Money With These Tips
- Best Pricing for Fort Worth Car Insurance Providers
- Proven Strategies for Low-Cost Fort Worth, TX Auto Insurance
Smart consumers save more
We covered some good ideas how you can compare Chevy Equinox insurance rates online. The key thing to remember is the more providers you compare, the higher the chance of saving money. Consumers may even find the biggest savings come from some of the smallest insurance companies. These smaller insurers can often provide lower auto insurance rates in certain areas than the large multi-state companies such as Allstate and Progressive.
The cheapest Chevy Equinox insurance can be purchased both online and with local Fort Worth insurance agents, and you need to price shop both to have the best selection. Some insurance providers may not offer price quotes online and many times these small, regional companies prefer to sell through independent insurance agencies.