Auto Insurance in Wells Maine – 6 Discounts Drivers are Missing
Purchasing cheap Wells auto insurance on the web can be somewhat difficult for people who are new to comparison shopping online. Since there are so many online companies, how can anyone possibly compare them all to find the lowest price available?
Do you qualify for a discount?
Insurance can be prohibitively expensive, but there could be available discounts to cut the cost considerably. Most are applied when you purchase, but some must be specially asked for before you will receive the discount. If you’re not getting every credit available, you’re just leaving money on the table.
- No Accidents – Claim-free drivers pay much less compared to bad drivers.
- Safety Course Discount – Taking part in a course teaching defensive driving skills could possibly earn you a 5% discount if you qualify.
- Seat Belts Save – Using a seat belt and requiring all passengers to use their safety belts can save 10% or more off your PIP or medical payments premium.
- New Car Discount – Buying coverage on a new vehicle is cheaper compared to insuring an older model.
- Distant Student – Youth drivers living away from home attending college and do not have a car can be insured at a reduced rate.
- Clubs and Organizations – Participating in a qualifying organization could trigger savings on your policy.
A little note about advertised discounts, most discounts do not apply to your bottom line cost. Most cut the cost of specific coverages such as collision or personal injury protection. So when the math indicates adding up those discounts means a free policy, companies wouldn’t make money that way. Any qualifying discounts will reduce the amount you have to pay.
Car Insurance through a local agent
A small number of people would prefer to buy from a local agent and that is just fine! Professional agents can answer important questions and help you file claims. The biggest benefit of getting online price quotes is you may find lower rates and still choose a local agent. Supporting local insurance agencies is important especially in Wells.
Upon completion of this short form, your insurance data is submitted to local insurance agents who will give you bids for your coverage. There is no reason to visit any agencies since price quotes are sent immediately to your email address. How cool is that?!
Choose an insurance agent wisely
When researching an insurance agent, you must know there are a couple different types of agents to choose from. Agents can either be independent (non-captive) or captive. Both do a good job, but it’s worth learning how they differ because it can impact buying decisions.
Independent Agents
Independent agencies do not work for one specific company but instead can place your coverage with lots of companies and potentially find a lower price. To move your coverage to a new company, an independent agent can move your coverage and that require little work on your part.
When searching for an agent, you should always include at a minimum one independent agency to ensure the widest selection of prices. They often place coverage with smaller regional carriers which can be an advantage.
Listed below are Wells independent insurance agents that may be able to provide price quotes.
- Batal Agency – 953 Post Rd – Wells, ME 04090 – (207) 641-2066
Captive Insurance Agents
This type of agents can only place business with one company such as AAA, State Farm, Farmers Insurance and Allstate. These agents are not able to give you multiple price quotes so they are skilled at selling on more than just price. These agents are usually quite knowledgeable on the products they sell which helps them compete with independent agents. Consumers often buy insurance from these agents mainly due to the brand legacy and strong financial ratings.
Picking a car insurance agent requires more thought than just a cheap price. Ask your prospective agent these questions:
- Are claims handled at the agent’s location?
- Do they feel the quoted coverages are adequate?
- How often do they review policy coverages?
- Can they provide you with a list of referrals?
- If you have an accident, will your rates go up?
- Is the agent and/or agency licensed to do business in Maine?
Once you have reasonable responses to these questions and an affordable coverage quote, you have narrowed it down to an insurance agent that can service your policy.
The auto insurance bait and switch
Consumers constantly see and hear ads that promise big savings from the likes of Progressive, Allstate and GEICO. All the ads make an identical promise about savings if you switch your coverage to them.
But how can every company make the same claim? It’s all in the numbers.
Different companies have a preferred profile for the right customer that earns them a profit. For example, a desirable insured might be profiled as a mature driver, a clean driving record, and has great credit. Any new insured who matches those parameters will get the preferred rates and most likely will cut their rates substantially.
Drivers who don’t meet these standards will be quoted higher rates and ends up with the driver buying from a lower-cost company. The ad wording is “customers who switch” not “everyone that quotes” save that kind of money. That’s the way insurance companies can confidently make the claims of big savings.
This emphasizes why it’s extremely important to get a wide range of price quotes. It’s just too difficult to predict the company that will have the lowest rates.
Car insurance 101
Knowing the specifics of your auto insurance policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording.
Medical costs insurance
Coverage for medical payments and/or PIP reimburse you for expenses such as surgery, chiropractic care, rehabilitation expenses, X-ray expenses and dental work. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Collision coverage
This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as sustaining damage from a pot hole, colliding with another moving vehicle, rolling your car and colliding with a tree. This coverage can be expensive, so consider dropping it from lower value vehicles. Another option is to bump up the deductible to bring the cost down.
UM/UIM Coverage
Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for injuries to you and your family as well as damage to your vehicle.
Because many people carry very low liability coverage limits (which is 50/100/25), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Usually these limits are set the same as your liablity limits.
Comprehensive or Other Than Collision
This pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things like rock chips in glass, damage from a tornado or hurricane and theft. The maximum amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Liability coverages
Liability insurance can cover damages or injuries you inflict on other’s property or people that is your fault. This coverage protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see limits of 100/300/100 that translate to a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Occasionally you may see a combined limit which limits claims to one amount with no separate limits for injury or property damage.
Liability can pay for things such as repair bills for other people’s vehicles, funeral expenses, emergency aid and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but buy as large an amount as possible. Maine state minimum liability requirements are 50,000/100,000/25,000 but drivers should carry better liability coverage.
Some additional reading
Additional information is available on the Maine Bureau of Insurance website through this link. Consumers can find out which companies have the most complaints, download brochures, and read state legal mandates and laws.
The following information may also be useful.
More effort can pay off
Cheaper auto insurance can be sourced from both online companies and with local Wells insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance providers do not offer online quoting and usually these regional insurance providers provide coverage only through local independent agents.
As you restructure your insurance plan, you should never reduce needed coverages to save money. In many cases, drivers have reduced uninsured motorist or liability limits to discover at claim time they didn’t have enough coverage. The aim is to get the best coverage possible for the lowest price, not the least amount of coverage.
We just presented many ideas to compare auto insurance prices online. The key thing to remember is the more providers you compare, the better chance you’ll have of finding lower rates. Consumers may even find the best prices are with a company that doesn’t do a lot of advertising.