7 Tricks to Save on Auto Insurance in Grand Forks, ND

Are you intimidated by the dozens of auto insurance company choices in Grand Forks? Many other consumers are too. People have so many companies to choose from that it can be a challenge to find the perfect company for you.

If you have insurance now or are just looking to switch companies, you can use this information to get lower rates and still get good coverage. Finding the cheapest auto insurance coverage in Grand Forks can be fairly easy. North Dakota drivers just need to learn the tricks to shop on the web.

Take these seven discounts and save

Companies don’t always list every discount in an easy-to-find place, so the following is a list of some of the best known and also the lesser-known auto insurance savings. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.

• Braking Control Discount – Vehicles equipped with ABS or steering control prevent accidents and qualify for as much as a 10% discount.
• Senior Discount – If you’re over the age of 55, you may receive reduced rates.
• Homeowners Discount – Owning a home in Grand Forks can help you save on auto insurance because owning a home is proof that your finances are in order.
• New Vehicle Savings – Buying coverage on a new vehicle is cheaper due to better safety requirements for new cars.
• Early Switch Discount – Some companies give discounts for buying a policy before your current policy expires. It’s a savings of about 10%.
• Lower Rates for Military – Having a deployed family member may qualify for rate reductions.
• Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to enroll in driver’s education in school.

Consumers should know that most discounts do not apply to the entire policy premium. Most only apply to individual premiums such as medical payments or collision. So when it seems like all the discounts add up to a free policy, it just doesn’t work that way.

Save $387 a year? Really?

Consumers can’t get away from ads for the lowest price auto insurance by companies like State Farm, Allstate and GEICO. They all seem to have a common claim of big savings if you change to them.

How can each company make the same claim?

All companies can use profiling for the driver that makes them money. An example of a preferred risk could possibly be between 30 and 50, has no prior claims, and drives newer vehicles. Any driver that hits that “sweet spot” is entitled to the best price and therefore will save when switching.

Drivers who don’t qualify for these standards will have to pay higher prices which leads to the driver buying from a lower-cost company. The ad wording is “customers that switch” not “everybody who quotes” save money. That’s the way companies can advertise the savings. Because of the profiling, drivers must get as many quotes as possible. It’s not possible to predict which company will give you the biggest savings.

More detailed North Dakota auto insurance information is located at the North Dakota Insurance Department website. Consumers can file complaints about an insurance agent or broker, read industry bulletins, and read enforcement actions against agents and companies.

Specifics of your auto insurance policy

Learning about specific coverages of a auto insurance policy helps when choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be confusing and nobody wants to actually read their policy.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP provide coverage for expenses such as dental work, nursing services and hospital visits. They can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. It covers you and your occupants and also covers getting struck while a pedestrian. PIP is not an option in every state and may carry a deductible

Auto liability insurance

This coverage protects you from damage or injury you incur to other people or property by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 100/300/100 which means a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.

Liability insurance covers claims like emergency aid, medical services, repair bills for other people’s vehicles, attorney fees and medical expenses. How much liability should you purchase? That is up to you, but buy as large an amount as possible. North Dakota requires drivers to carry at least 25,000/50,000/25,000 but you should think about purchasing higher limits.

Comprehensive insurance

This coverage covers damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as a broken windshield, damage from a tornado or hurricane, a tree branch falling on your vehicle, hitting a deer and damage from getting keyed. The highest amount your auto insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection when other motorists do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your vehicle.

Because many people carry very low liability coverage limits (25/50/25 in North Dakota), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important.

Collision insurance

Collision coverage pays for damage to your vehicle resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims like colliding with another moving vehicle, colliding with a tree, scraping a guard rail, sustaining damage from a pot hole and hitting a mailbox. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.

Best coverage at the best price

As you shop your coverage around, do not reduce needed coverages to save money. In too many instances, an insured cut uninsured motorist or liability limits and found out when filing a claim that the small savings ended up costing them much more. Your strategy should be to purchase a proper amount of coverage at the best price while still protecting your assets.

Drivers who switch companies do it for a variety of reasons including being labeled a high risk driver, denial of a claim, an unsatisfactory settlement offer or even policy cancellation. Regardless of your reason for switching companies, choosing a new company is less work than it seems.

Cost effective auto insurance can be bought both online as well as from independent agents in Grand Forks, and you should be comparing both so you have a total pricing picture. Some auto insurance companies don’t offer online price quotes and usually these small insurance companies provide coverage only through local independent agents.