It’s safe to conclude that car insurance companies don’t want customers comparing rates. Consumers who get comparison quotes at least once a year will, in all likelihood, buy a different policy because there is a significant possibility of finding a lower rate. A study discovered that consumers who shopped around saved about $865 a year as compared to drivers who never compared rates.
If finding the cheapest price on auto insurance is the reason you’re here, then having some knowledge of how to get rate quotes and compare insurance can make it easier for you to save money.
The recommended way to get more affordable Chevy Spark EV insurance is to make a habit of comparing prices annually from companies in Lexington.
- Step 1: Try to learn a little about how car insurance works and the measures you can control to keep rates down. Many policy risk factors that cause rate increases like high-risk driving behaviors and poor credit history can be controlled by being financially responsible and driving safely. Read the full article for ideas to help prevent high rates and get bigger discounts.
- Step 2: Compare rates from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give prices from one company like GEICO and Allstate, while independent agencies can quote rates for a wide range of companies.
- Step 3: Compare the quotes to your existing rates and determine if there is any savings. If you find a better price and decide to switch, verify that coverage does not lapse between policies.
- Step 4: Provide written notification to your current company of your intent to cancel your existing policy. Submit the required down payment along with the signed application to your new insurance company. As soon as you receive it, put the certificate verifying coverage in your vehicle’s glove compartment or console.
A key point to remember is to use similar deductibles and liability limits on each quote request and to quote with as many car insurance companies as possible. Doing this enables a fair price comparison and a good representation of prices.
Finding the cheapest coverage in Lexington is really not that difficult. If you currently have auto insurance, you will most likely be able to reduce premiums using the techniques presented in this article. Drivers just need to understand the tricks to shop for auto insurance online from multiple companies.
Smart Buyers Know How to Get Auto Insurance Cheaper
Part of the auto insurance buying process is learning some of the things that are used to determine your premiums. If you know what determines base rates, this enables you to make decisions that may result in better auto insurance rates.
- Cheaper rates for being claim-free – Car insurance companies in Kentucky generally give the lowest premiums to drivers who are claim-free. If you file claims often, you can pretty much guarantee either policy cancellation or increased premiums. Your insurance policy is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
- You may save more by combining policies – Most major companies will give a discount for people who carry more than one policy in the form of a multi-policy discount. Even though this discount sounds good, it’s still a good idea to comparison shop to make sure you are getting the best deal. You may still find a better deal by insuring with multiple companies.
- Teenage vs. experienced drivers – Older drivers are shown to be more cautious, file fewer claims, and are safer drivers. Inexperience drivers are known to be inattentive and easily distracted when behind the wheel and because of this, their auto insurance rates are much higher.
- Poor credit can mean higher premiums – Your credit history can be a huge factor in determining premium rates. Insureds that have good credit tend to file fewer claims as compared to drivers with poor credit scores. Therefore, if your credit is lower than you’d like, you could be paying less to insure your Chevrolet Spark EV if you clean up your credit.
- Car features that cut rates – Purchasing a vehicle with anti-theft technology or alarm system can help lower your premiums. Theft deterrent systems such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all help stop auto theft and help lower rates.
- Drive less and pay lower prices – Driving more miles every year the higher the price you pay to insure it. Many insurance companies price each vehicle’s coverage partially by how you use the vehicle. Cars that sit idle most of the time can be on a lower rate level than those used for commuting. Double check that your auto insurance policy states the correct driver usage, because improper ratings can cost you money. Having an incorrect usage rating on your Spark EV can result in significantly higher rates.
Lower your insurance rates with discounts
Properly insuring your vehicles can get expensive, but you may be missing some discounts that you may not even be aware of. Some trigger automatically when you purchase, but a few need to be specifically requested before you will receive the discount.
- Save with a New Car – Buying a new car model can cost up to 25% less because newer models are generally safer.
- Drivers Ed for Students – It’s a good idea to have your young drivers successfully take a driver’s education course if offered at their school.
- Multi-Vehicle Discounts – Insuring several vehicles on a single policy could earn a price break for each car.
- Theft Deterrent – Cars and trucks equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and can earn a small discount on your policy.
- Pay Early and Save – If paying your policy premium upfront instead of making monthly payments you can avoid the installment charge.
- Accident Forgiveness – This one isn’t a discount, but certain companies allow you one accident before raising your premiums if your claims history is clear for a set time period.
- Distant College Student Discount – Kids who are enrolled in higher education away from home and do not take a car to college can be insured at a reduced rate.
- Membership in Organizations – Participating in qualifying employment or professional organizations is a simple method to lower premiums on your next insurance statement.
- Early Signing – Some insurance companies reward drivers for buying a policy prior to your current Spark EV insurance policy expiration. This discount can save up to 10%.
- Senior Discount – Drivers that qualify as senior citizens may receive better insurance rates.
One thing to note about discounts is that some credits don’t apply to all coverage premiums. Most only reduce specific coverage prices like liability and collision coverage. Despite the fact that it seems like you can get free auto insurance, companies wouldn’t make money that way.
Large insurance companies and some of their more popular discounts can be read below.
- Progressive offers discounts including online quote discount, multi-policy, homeowner, continuous coverage, multi-vehicle, online signing, and good student.
- SAFECO has discounts for safe driver, teen safe driver, bundle discounts, anti-lock brakes, teen safety rewards, drive less, and multi-car.
- American Family offers premium reductions for mySafetyValet, early bird, air bags, accident-free, and TimeAway discount.
- MetLife may include discounts for good driver, accident-free, multi-policy, defensive driver, good student, claim-free
- GEICO offers discounts for multi-policy, five-year accident-free, anti-lock brakes, emergency military deployment, membership and employees, federal employee, and multi-vehicle.
- The Hartford policyholders can earn discounts including anti-theft, good student, air bag, driver training, and bundle.
When getting a coverage quote, ask each company which credits you are entitled to. Some of the earlier mentioned discounts may not be available everywhere.
One last note
When trying to cut insurance costs, it’s not a good idea to buy lower coverage limits just to save a few bucks. There are many occasions where someone sacrificed uninsured motorist or liability limits and learned later that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to purchase plenty of coverage for the lowest price, but do not skimp to save money.
We just presented many ways to lower your Chevy Spark EV insurance rates in Lexington. The key thing to remember is the more price quotes you have, the higher your chance of finding affordable Lexington car insurance quotes. Consumers could even find that the biggest savings come from a smaller regional carrier. Regional companies can often provide lower car insurance rates in certain areas as compared to the big name companies such as Allstate, GEICO and Progressive.
More affordable auto insurance in Lexington is attainable both online as well as from insurance agents, and you should compare rates from both in order to have the best chance of saving money. Some companies do not provide the ability to get quotes online and these small, regional companies provide coverage only through independent insurance agencies.
More tips and info about auto insurance can be read by following these links:
- New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
- What Auto Insurance is Cheapest for Infrequent Drivers in Lexington? (FAQ)
- What Insurance is Cheapest for High Mileage Drivers in Lexington? (FAQ)
- Who Has Cheap Lexington Auto Insurance for a Nissan Sentra? (FAQ)
- What Insurance is Cheapest for Teenage Females in Lexington? (FAQ)
- Who Has Affordable Lexington Car Insurance Quotes for a Mazda CX-7? (FAQ)
- What Insurance is Cheapest for a Ford F-150 in Lexington? (FAQ)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- Medical Payments Coverage (Liberty Mutual)