9 Tricks to Save on Auto Insurance in Oak Creek
Have you fallen victim to an overpriced auto insurance policy? Trust us when we tell you there are a lot of people in Oak Creek just like you who feel imprisoned by their auto insurance policy. Companies like State Farm, GEICO and Farmers Insurance increase brand awareness with advertising and it can be hard to ignore the flashy ads and do the work needed to find the best deal.
It’s important to check auto insurance prices every six months due to the fact that insurance rates change quite often. Even if you got the best deal two years ago there is a good chance you can find better rates now. Don’t believe everything you read about auto insurance on the web, but by reading this article, you’re going to learn some proven techniques to reduce your auto insurance bill.
If you have a policy now or need new coverage, you can use this information to cut your premiums and still get good coverage. Finding affordable coverage in Oak Creek is easy if you know what you’re doing. Wisconsin drivers only need to know the most efficient way to shop online.
Don’t miss out on these nine money-saving discounts
Car insurance is not cheap, but companies offer discounts to help offset the cost. A few discounts will automatically apply at the time of purchase, but some must be asked for in order for you to get them. If you’re not getting every credit available, you’re paying more than you need to.
- Discount for Swiching Early – Some companies give discounts for buying a policy before your current policy expires. The savings is around 10%.
- Pay Upfront and Save – If you pay your entire premium ahead of time instead of paying each month you could save 5% or more.
- Homeowners Savings – Simply owning a home may trigger a auto insurance policy discount because owning a home requires personal responsibility.
- Multi-car Discount – Buying insurance for more than one vehicle on one policy qualifies for this discount.
- Discount for Good Grades – Performing well in school can earn a discount of 20% or more. Earning this discount can benefit you up until you turn 25.
- Paperless Signup – Certain companies may give you up to $50 for buying your policy over the internet.
- Anti-lock Brake Discount – Cars that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.
- Drive Safe and Save – Insureds without accidents may save up to 50% more than less cautious drivers.
- Life Insurance Discount – Larger companies have a break if you buy a life insurance policy as well.
A little note about advertised discounts, most discounts do not apply to all coverage premiums. Most cut the price of certain insurance coverages like medical payments or collision. So even though it sounds like you can get free auto insurance, auto insurance companies aren’t that generous. Any amount of discount will reduce your premiums.
To choose insurers who offer auto insurance discounts in Oak Creek, click here to view.
Do auto insurance companies bend the truth?
Consumers in Wisconsin can’t get away from ads for car insurance savings by companies like Progressive, GEICO, Allstate and State Farm. All the companies say the same thing of big savings after switching to them.
How does each company claim to save you money?
All the different companies have a certain “appetite” for the driver that earns them a profit. An example of a preferred risk could possibly be over the age of 50, insures multiple vehicles, and drives less than 7,500 miles a year. A customer that hits that “sweet spot” will get very good rates and as a result will probably save a lot of money.
Potential insureds who don’t qualify for the “perfect” profile will be quoted higher rates and this can result in the driver buying from a lower-cost company. The ads state “drivers who switch” not “people who quote” save money. That’s why insurance companies can confidently advertise the savings.
This emphasizes why drivers should get as many comparisons as possible. It’s not possible to predict which company will provide you with the cheapest rates.
Car insurance coverage information
Having a good grasp of your auto insurance policy aids in choosing appropriate coverage and proper limits and deductibles. Policy terminology can be ambiguous and nobody wants to actually read their policy. Shown next are typical coverage types found on the average auto insurance policy.
Auto liability insurance
This will cover damage that occurs to people or other property that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 50/100/50 which means $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability can pay for things like structural damage, funeral expenses, repair costs for stationary objects and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as much as you can afford. Wisconsin requires drivers to carry at least 50,000/100,000/55,000 but you should think about purchasing more coverage.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance reimburse you for bills for EMT expenses, ambulance fees and surgery. They can be utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible
UM/UIM (Uninsured/Underinsured Motorist) coverage
This protects you and your vehicle from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your vehicle.
Due to the fact that many Wisconsin drivers have only the minimum liability required by law (50/100/55 in Wisconsin), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Collision protection
Collision insurance pays for damage to your vehicle from colliding with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims such as crashing into a building, colliding with another moving vehicle, sideswiping another vehicle and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. You can also raise the deductible to get cheaper collision coverage.
Comprehensive auto coverage
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like a broken windshield, fire damage, vandalism, a tree branch falling on your vehicle and falling objects. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
More consumer information in Wisconsin
Additional information can be read on the website for the Wisconsin Office of the Commissioner of Insurance found here. Consumers can download brochures, report car insurance fraud, file complaints about a company, and view a list of available companies.
The best insurance company isn’t always the cheapest
Throughout this article, we presented many ways to compare auto insurance prices online. The most important thing to understand is the more providers you compare, the higher your chance of finding lower rates. Drivers may discover the lowest premiums are with the smaller companies. These companies may often insure only within specific states and give getter rates than their larger competitors like Allstate and Progressive.
Lower-priced auto insurance is attainable both online in addition to many Oak Creek insurance agents, and you should compare price quotes from both to have the best rate selection. A few companies do not provide online price quotes and these small, regional companies work with independent agents.
As you go through the steps to switch your coverage, don’t be tempted to sacrifice coverage to reduce premiums. There are many occasions where someone sacrificed comprehensive coverage or liability limits only to regret at claim time that the savings was not a smart move. The proper strategy is to purchase plenty of coverage for the lowest price, not the least amount of coverage.