Auto Insurance in Siloam Springs – 6 Discounts to Save Money

Nobody I know likes having to buy auto insurance, particularly when they are paying too much. Having so many options when it comes to auto insurance, it’s difficult to pick the most cost effective insurance company.

It’s smart to price shop coverage periodically due to the fact that insurance rates change quite often. If you had the lowest rates a few years ago the chances are good that you can find a lower rate today. You’ll find quite a bit of inaccurate information about auto insurance on the internet, so with this article, you’re going to get some of the best ways to save money.

Discounts are basically free money

Car insurance companies don’t necessarily list all their discounts in an easy-to-find place, so we took the time to find both well-publicized and also the lesser-known discounts you could be receiving. If they aren’t giving you every credit available, you are paying more than you should be.

• Save over 55 – Mature drivers may receive better auto insurance rates.
• No Claims – Claim-free drivers pay much less compared to frequent claim filers.
• Distant Student – Youth drivers who are attending college without a vehicle on campus may be able to be covered for less.
• Drivers Ed for Students – Cut your cost by having your teen driver enroll in driver’s education in school.
• Homeowners Pay Less – Owning a house in Siloam Springs may trigger a auto insurance policy discount because owning a home requires personal responsibility.
• Accident Waiver – A few companies permit an accident before hitting you with a surcharge as long as you don’t have any claims for a particular time prior to the accident.

It’s important to note that some credits don’t apply the the whole policy. The majority will only reduce individual premiums such as comprehensive or collision. So even though it sounds like it’s possible to get free car insurance, auto insurance companies aren’t that generous.

Comparing rates from local agents

Some people would prefer to get advice from a local agent and that is just fine! Licensed agents can answer important questions and help submit paperwork. One of the best bonuses of price shopping on the web is the fact that you can find lower rates and still have an agent to talk to.

To help locate an agent, after submitting this quick form, your insurance coverage information is sent to participating agents in Siloam Springs who will battle for your insurance coverage. You won’t need to leave your house because quoted prices will be sent directly to your email. How’s that for easy!

Picking an insurance company requires more thought than just the bottom line cost. Agents should be asked these questions:

• Which insurance companies are they affiliated with?
• Is the agent and/or agency licensed to do business in Arkansas?
• Does the company allow you to choose your own collision repair facility?
• What insurance company do they write the most business with?
• If they are an independent agency, which companies do they recommend?
• Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
• Is their price quote a firm figure or are their hidden costs?

Types of auto insurance agents in Siloam Springs

If you’re trying to find an insurance agent, you need to know there are two different agency structures to choose from. Agents are classified as either independent or captive. While both can write coverage properly, but it’s worth learning the differences because it can influence the selection process.

Captive Insurance Agents

These agents have only one company to place business with and some examples include American Family, State Farm and Allstate. Captives cannot compare other company’s rates so always compare other rates. Captives are very knowledgeable on their company’s products and that can be a competitive advantage.

Below are Siloam Springs captive insurance agents who may provide you with price quotes.

Farmers Insurance Group – 301 E Main St – Siloam Springs, AR 72761 – (479) 524-3163
Allstate Ins Co – 1001 S Dogwood St – Siloam Springs, AR 72761 – (479) 524-5113
State Farm Insurance – 606 S Mount Olive St – Siloam Springs, AR 72761 – (479) 524-9564
Shelter Insurance – 711 S Mount Olive St – Siloam Springs, AR 72761 – (479) 524-4183

Independent Agencies or Brokers

Independent agencies are not required to write business for one company but instead can place your coverage with lots of companies enabling the ability to shop coverage around. If your agent finds better pricing, they simply move the coverage in-house without you having to go to a different agency. When comparing rates, we recommend you include price quotes from several independent insurance agents to have the most options to choose from.

Listed below is a list of independent insurance agencies in Siloam Springs who can help you get price quotes.

Nathan Combs Insurance – 800 S Mount Olive St # A – Siloam Springs, AR 72761 – (479) 524-9191
Mitch Fincher Agency – 519 S Mount Olive St – Siloam Springs, AR 72761 – (479) 524-9524
Greg Brown Insurance Inc – 511 W Tulsa St – Siloam Springs, AR 72761 – (479) 524-6191

To view a complete directory of licensed insurance agents in Siloam Springs, please view this page.

Once you have received answers to your satisfaction to your questions and locked in a price quote, it’s possible that you found an insurance agent that will properly insure your vehicles.

Save $399 a year. For real?

Consumers can’t ignore all the ads for the lowest price auto insurance by Progressive, GEICO, Allstate and State Farm. All the companies make the same claim about savings if you switch to their company.

How does each company make the same claim?

All companies can use profiling for the right customer that makes them money. An example of a desirable insured might be profiled as over the age of 50, insures multiple vehicles, and drives less than 10,000 miles a year. A driver who matches those parameters gets the lowest rates and most likely will save when they switch companies.

Consumers who fall outside the “perfect” profile must pay a higher premium and ends up with the driver buying from a lower-cost company. The ads say “people who switch” not “everyone that quotes” save that much money. That is how companies can truthfully state the savings. This illustrates why it is so important to quote coverage with many companies. It’s just too difficult to predict which auto insurance company will fit your personal profile best.

Additional reading for auto insurance information

More detailed Arkansas auto insurance information is located at the Arkansas Insurance Department website. Arkansas consumers can file complaints about a company, view agent and company licensing information, and report car insurance fraud.

Coverages available on your auto insurance policy

Having a good grasp of auto insurance aids in choosing appropriate coverage and proper limits and deductibles. Auto insurance terms can be impossible to understand and even agents have difficulty translating policy wording. These are typical coverage types available from auto insurance companies.

Comprehensive insurance

This coverage covers damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like damage from flooding, a tree branch falling on your vehicle, damage from a tornado or hurricane and hail damage. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Auto collision coverage

This coverage covers damage to your vehicle from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against things like hitting a parking meter, driving through your garage door, sideswiping another vehicle and scraping a guard rail. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. Drivers also have the option to bump up the deductible to bring the cost down.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage provide coverage for short-term medical expenses like EMT expenses, funeral costs, doctor visits and hospital visits. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states and may carry a deductible

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Since many Arkansas drivers only purchase the least amount of liability that is required (which is 25/50/25), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Liability

Liability coverage provides protection from damage or injury you incur to a person or their property by causing an accident. It protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability can pay for claims like pain and suffering, funeral expenses, repair costs for stationary objects, structural damage and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford. Arkansas requires minimum liability limits of 25,000/50,000/25,000 but you should consider buying more liability than the minimum.

Buy online or local, you save

As you shop your coverage around, you should never buy lower coverage limits just to save a few bucks. There are too many instances where drivers have reduced comprehensive coverage or liability limits only to discover later that the savings was not a smart move. Your aim should be to buy a smart amount of coverage for the lowest price.

In this article, we presented a lot of ways to shop for auto insurance online. The most important thing to understand is the more rate quotes you have, the higher your chance of finding lower rates. You may even discover the lowest rates come from a small mutual company. Regional companies often have lower prices on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.