7 Tricks to Slash Auto Insurance Rates in Lawrence

Tired of trying to scrape together enough money to insure your vehicles every month? Your situation is no different than many other Kansas consumers.

You have multiple insurers to buy insurance from, and though it is a good thing to have a choice, it makes it harder to find the lowest cost provider.

It’s a great practice to compare prices occasionally because rates are usually higher with each renewal. If you had the lowest rates last year you can probably find a lower rate today. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to how to use the internet to save money, get proper deductibles and limits, all at the lowest rate.

Choosing the best insurance company for you in Lawrence is not rocket science. If you have car insurance now, you will most likely be able to cut costs considerably using these methods. But Kansas consumers benefit from understanding how insurance companies sell online and take advantage of how the system works.

Take advantage of discounts

Companies do not advertise every discount in an easy-to-find place, so we researched some of the more common and the more hidden ways to save on auto insurance.

Student in College – Kids in college who are attending college and do not have a car can receive lower rates.
Bundle and Save – When you combine your home and auto insurance with one insurance company you may save at least 10% off all policies.
Theft Prevention System – Anti-theft and alarm systems are stolen less frequently and therefore earn up to a 10% discount.
Clubs and Organizations – Belonging to certain professional organizations could qualify you for a break on your policy.
Safe Drivers – Safe drivers may receive a discount up to 45% less than drivers with accidents.
Accident Forgiveness – A few companies will allow you to have one accident before raising your premiums if your claims history is clear for a set time period.

It’s important to understand that most discount credits are not given to the entire cost. Most only reduce individual premiums such as comprehensive or collision. So even though they make it sound like you would end up receiving a 100% discount, companies don’t profit that way.

To choose companies offering auto insurance discounts in Lawrence, click here to view.

Smart Buyers can Save Money

Smart consumers have a good feel for some of the elements that come into play when calculating your auto insurance rates. When you know what positively or negatively influences your rates enables informed choices that can help you get lower auto insurance prices.

The list below includes some of the items auto insurance companies consider when setting your rates.

Special features that cut premiums – Driving a car with a theft deterrent system can get you a discount on your auto insurance. Anti-theft devices such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
Your occupation can affect rates – Careers like judges, business owners and accountants tend to have higher rates than average due to high stress levels and lots of time spent at work. On the flip side, jobs such as pilots, athletes and retirees receive lower rates.
Type of vehicle determines base rates – The make and model of the car you drive makes a big difference in your rates. Low performance passenger cars receive the most favorable rates, but other factors influence the final cost greatly.
Frequent auto insurance claims increase rates – Companies in Kansas generally give discounts to drivers who do not file claims often. If you tend to file frequent claims, you can expect either policy cancellation or increased premiums. Your insurance policy is designed for major claims that would cause financial hardship.
Do you have enough liability coverage? – The liability section of your policy will protect you if a court rules you are at fault for damages caused by your negligence. Liability insurance provides legal defense coverage up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.

Car Insurance through a local agent

A small number of people would rather buy from a licensed agent and that is a personal choice. The biggest benefit of comparing rates online is the fact that you can find lower rates but also keep your business local. car insurance image

To find an agent, once you fill out this form (opens in new window), your insurance coverage information is transmitted to companies in Lawrence who will return price quotes to get your business. You don’t have to leave your computer because quoted prices will be sent immediately to your email address. How cool is that?! You can find the lowest rates AND a local agent.

Picking an insurance company needs to be determined by more than just a low price. These are valid questions to ask:

How are claims handled?
If your car is totalled, how to they determine the replacement cost?
Are they full-time agents?
Which company do they place the most coverage with?
Are there any discounts that you might be missing?
Is assistance available after office hours?
Did they already check your driving record and credit reports?

The type of car insurance agent you choose is important

When researching a reputable insurance agent or broker, there are two different agency structures to choose from. Agencies in Lawrence are classified as either captive or independent.

Captive Insurance Agents

Captive agents have only one company to place business with and examples are Allstate, Farmers Insurance, State Farm and AAA. These agents are unable to compare other company’s rates so they have to upsell other benefits. Captives are well schooled on the products they sell which helps them sell insurance even at higher premiums.

The following is a short list of captive insurance agents in Lawrence who may provide you with price quote information.

American Family Insurance – 3109 W 6th St # B – Lawrence, KS 66049 – (785) 749-1778
Shelter Insurance – 2500 Iowa St – Lawrence, KS 66046 – (785) 841-3020
Farm Bureau Insurance – 6th and Lawrence Ave – Lawrence, KS 66044 – (785) 841-1122
State Farm Insurance – 2400 Iowa St – Lawrence, KS 66046 – (785) 843-1292
Farmers Insurance Group – 545 Columbia Dr # 2002 – Lawrence, KS 66049 – (785) 841-6979
Allstate Insurance – 4101 W 6th St – Lawrence, KS 66049 – (785) 832-1557

Independent Agencies or Brokers

These agents are not employed by any specific company but rather can write business with any number of different companies and possibly get better coverage at lower prices. If you are not satisfied with one company, your agent can switch companies and that require little work on your part. When searching for an agent, you should always contact multiple independent agents for the best price selection.

Below is a short list of independent agents in Lawrence willing to provide price quote information.

Hedges Insurance – 1035 Vermont St – Lawrence, KS 66044 – (785) 841-0200
Jo Buzzard Agency Inc – 1414 W 6th St # 101 – Lawrence, KS 66044 – (785) 841-6776
Shepley Agency – 3109 W 6th St # A – Lawrence, KS 66049 – (785) 865-5200
Ron King Agency Inc – 3010 Four Wheel Dr # 2 – Lawrence, KS 66047 – (785) 841-8008
Nationwide Insurance – 1 Riverfront Plz – Lawrence, KS 66044 – (785) 842-5109

For a full directory of auto insurance agents in Lawrence, please view this page.

After getting reasonable responses to these questions as well as a affordable price, you may have just found an insurance agent that can properly service your auto insurance policy.

Ads can be misleading

Progressive, GEICO, Allstate and State Farm consistently run ads on television and other media. All the companies have a common claim that you’ll save big if you change your policy. How can each company say the same thing? It’s all in the numbers.

All companies can use profiling for the driver that is profitable for them. For instance, a desirable insured could be between the ages of 30 and 50, has no tickets, and chooses high deductibles. A propective insured that hits that “sweet spot” is entitled to the best price and as a result will probably pay quite a bit less when switching companies.

Drivers who don’t meet this ideal profile will be charged higher rates which usually ends up with business going elsewhere. The ad wording is “customers who switch” not “everyone that quotes” save that much. That’s the way insurance companies can claim big savings. That is why you should compare as many rates as you can. It’s just too difficult to predict which insurance companies will have the lowest rates.

Even more information is located at the Kansas Insurance Department website. Kansas drivers can read industry bulletins, view agent and company licensing information, learn about specific coverages, and find a variety of consumer forms.

More comparisons equals lower rates

Low-cost auto insurance is possible on the web and also from your neighborhood Lawrence agents, and you need to price shop both in order to have the best chance of saving money. Some insurance companies may not provide the ability to get a quote online and most of the time these small, regional companies sell through independent agents.

When trying to cut insurance costs, it’s a bad idea to skimp on critical coverages to save a buck or two. There are many occasions where an insured dropped physical damage coverage and discovered at claim time they didn’t purchase enough coverage. Your focus should be to purchase plenty of coverage at the best price while still protecting your assets.

Throughout this article, we presented a lot of techniques to compare auto insurance prices online. The most important thing to understand is the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the best prices are with the smaller companies. Some small companies may often insure only within specific states and give getter rates than their larger competitors like Progressive and GEICO.