Tired of robbing Peter to pay Paul to keep your car insured? You have the same problem as the majority of other drivers in Texas. Multiple car insurance companies compete for your hard-earned dollar, so it’s not easy to compare every insurance company to find the absolute lowest cost out there.
It is always a good idea to compare premium rates once or twice a year because insurance prices are variable and change quite frequently. Just because you had the best rates for E350 coverage a couple years back there may be better deals available now. Forget anything you know (or think you know) about auto insurance because you’re about to learn one of the best ways to find lower rates on auto insurance.
If you have insurance now or are shopping for new coverage, you can use these techniques to cut your premiums and possibly find even better coverage. Choosing the best insurance company for you in Fort Worth is not rocket science. Texas consumers only need to know the most efficient way to compare company rates over the internet.
There are a variety of methods to shop for auto insurance, but some are less time-consuming than others. You can spend your afternoon talking to agents in Fort Worth, or you can stay home and use the internet to get pricing more quickly.
Most car insurance companies are enrolled in a marketplace that enables customers to submit one quote, and each participating company returns a competitive quote determined by their information. This prevents consumers from doing quote requests for each company you want a rate for. To access this free quoting program, click here to open in new window.
The single downside to comparing rates this way is you are unable to specify the insurers to get pricing from. If you wish to select specific insurance companies for rate comparison, we have assembled a list of the cheapest auto insurance companies in Texas. Click here for list of insurance companies in Texas.
Which method you use is up to you, but be sure you’re using identical coverage limits with each company. If you enter different limits and deductibles on each one it’s not possible to truly determine the lowest rate in Fort Worth.
Take these ten policy discounts and save
Car insurance companies don’t list all available discounts very well, so the below list has both well-publicized and also the more inconspicuous discounts that may be available.
- Safe Drivers – Accident-free drivers can pay as much as 50% less for E350 coverage than drivers with accidents.
- Discount for Life Insurance – Some companies give a break if you buy a life policy as well.
- Driver’s Education for Students – It’s a good idea to have your young drivers sucessfully take a driver\s education course in school.
- Payment Method – If you pay your bill all at once instead of making monthly payments you can avoid the installment charge.
- College Student – Youth drivers who live away from home at college and do not take a car to college can receive lower rates.
- Homeowners Savings – Owning a house in Fort Worth can earn you a little savings since home ownership demonstrates responsibility.
- Driver Training Discounts – Participating in a class that teaches defensive driver techniques could possibly earn you a 5% discount if your company offers it.
- Discounts for New Vehicles – Buying auto insurance coverage on a new vehicle may earn a small discount since newer models are generally safer.
- Low Mileage – Maintaining low annual mileage can earn lower auto insurancerates on the low mileage vehicles.
- ABS Braking Discount – Cars and trucks that have anti-lock braking systems can stop better under adverse conditions so you can save 10 percent or more.
Please keep in mind that some credits don’t apply to the entire cost. A few only apply to individual premiums such as liability, collision or medical payments. Despite the fact that it seems like all those discounts means the company will pay you, you’re out of luck.
Large auto insurance companies and a summarized list of policyholder discounts can be read below.
- Farm Bureau offers discounts for driver training, multi-policy, good student, multi-vehicle, renewal discount, 55 and retired, and youthful driver.
- State Farm discounts include safe vehicle, passive restraint, multiple policy, Drive Safe & Save, driver’s education, and Steer Clear safe driver discount.
- Progressive policyholders can earn discounts including online signing, multi-vehicle, online quote discount, good student, and multi-policy.
- Allstate may offer discounts for anti-lock brakes, early signing, good payer, auto/life discount, and good student.
- Nationwide offers discounts including multi-policy, accident-free, defensive driving, anti-theft, business or organization, and good student.
- MetLife may have discounts that include claim-free, defensive driver, good student, accident-free, multi-policy, and good driver.
If you need lower rates, check with all the companies how many discounts you can get. All car insurance discounts might not be offered everywhere. If you would like to see a list of auto insurance companies who offer discounts in Texas, click here to view.
Specific coverage details
Learning about specific coverages of your policy can help you determine the right coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. These are the normal coverages offered by auto insurance companies.
Auto liability insurance – This will cover damage or injury you incur to people or other property. This insurance protects YOU against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 that means you have $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability coverage pays for claims such as bail bonds, legal defense fees, pain and suffering and attorney fees. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as high a limit as you can afford. Texas requires minimum liability limits of 30,000/60,000/25,000 but you should think about purchasing better liability coverage.
Comprehensive (Other than Collision) – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims like vandalism, fire damage and a broken windshield. The most your auto insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Medical expense insurance – Coverage for medical payments and/or PIP pay for bills for things like chiropractic care, doctor visits, dental work and EMT expenses. They are often used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover you and your occupants and also covers if you are hit as a while walking down the street. Personal Injury Protection is not available in all states and may carry a deductible
Collision coverages – Collision insurance covers damage to your E350 resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for claims like damaging your car on a curb, scraping a guard rail and hitting a mailbox. This coverage can be expensive, so you might think about dropping it from lower value vehicles. It’s also possible to choose a higher deductible to save money on collision insurance.
Protection from uninsured/underinsured drivers – This coverage protects you and your vehicle when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many Texas drivers only carry the minimum required liability limits (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Normally these coverages do not exceed the liability coverage limits.
Much more information about auto insurance in Texas can be found on the Texas Department of Insurance website. Click here for link. Texas consumers can view agent and company licensing information, file complaints about an insurance agent or broker, read state legal mandates and laws, and find out which companies have the most complaints.
The following information may also be useful.