Middlebury Auto Insurance Buying Tips You Aren’t Supposed to Know

Cutting costs on Middlebury auto insurance can be a challenge for consumers new to comparison shopping online. Consumers have so many options available that it can turn into a ton of work to locate the lowest price in Middlebury.

The purpose of this post is to familiarize you with how car insurance quotes work and some tips to save money. If you currently have a car insurance policy, you should be able to reduce your rates substantially using this information. Vermont consumers only need an understanding of the most efficient way to compare price quotes online.

Don’t miss out on these money-saving discounts

Insuring your vehicles can cost a lot, but companies offer discounts to help bring down the price. A few discounts will automatically apply when you complete an application, but some must be asked for prior to receiving the credit. If you don’t get every credit you qualify for, you are paying more than you should be.

• Good Student Discount – A discount for being a good student can save 20 to 25%. The discount lasts well after school through age 25.
• Claim Free – Drivers who don’t have accidents can save substantially when compared to accident-prone drivers.
• Service Members Pay Less – Being deployed with a military unit could be rewarded with lower premiums.
• Theft Prevention Discount – Anti-theft and alarm systems help deter theft and earn discounts up to 10%.
• Multi-policy Discount – If you insure your home and vehicles with the same insurance company you may earn 10% to 20% off each policy.
• Discount for Swiching Early – Some companies give discounts for signing up before your current policy expires. The savings is around 10%.
• Senior Citizens – If you qualify as a senior citizen, you may receive a discount up to 10%.
• Seat Belt Usage – Using a seat belt and requiring all passengers to buckle their seat belts could save 15% off the personal injury premium cost.

Drivers should understand that most of the big mark downs will not be given to all coverage premiums. Some only apply to specific coverage prices like collision or personal injury protection. So when it seems like having all the discounts means you get insurance for free, it just doesn’t work that way. Any qualifying discounts will bring down the cost of coverage.

To choose providers who offer auto insurance discounts in Vermont, follow this link.

Understand what determines the rate you pay

An important part of buying insurance is that you know the different types of things that go into determining your auto insurance rates. When you know what positively or negatively determines base rates helps enable you to make changes that may reward you with lower auto insurance prices.

Listed below are some of the items that factor into rates.

• Poor credit can mean higher rates – A driver’s credit history is a big factor in determining what you pay for auto insurance. Therefore, if your credit rating is not that good, you could potentially save money when insuring your by improving your rating. Drivers with good credit tend to file fewer claims and have better driving records than drivers with lower credit scores.
• More performance means more cost – The type of car you own makes a significant difference in your rates. Small economy passenger cars usually have the lowest rates, but there are many factors that impact the final cost.
• Low deductibles can be expensive – Physical damage deductibles define the amount you are willing to pay before a claim is paid by your company. Physical damage insurance, also known as collision and other-than-collision, is used to repair damage to your car. A few examples of covered claims would be running into the backend of another car, collision with an animal, or theft. The more you have to pay, the lower your rates will be.
• Proper usage rating affects rates – The higher the mileage driven in a year the higher your rates will be. Almost all companies price each vehicle’s coverage based on how the vehicle is used. Cars not used for work or commuting qualify for better rates than vehicles that are driven to work every day. Ask your agent if your auto insurance declarations sheet shows the correct usage for each vehicle.

Do I need special coverages?

When choosing proper insurance coverage for your personal vehicles, there really is no one size fits all plan. Your needs are not the same as everyone else’s.

For example, these questions may help you determine whether you might need an agent’s assistance.

• Do I have coverage when using my vehicle for my home business?
• Does my policy pay for OEM or aftermarket parts?
• Do all my vehicles need collision coverage?
• Am I covered by my spouse’s policy after a separation?
• When should I drop full coverage on my vehicle?
• Can I get a multi-policy discount for packaging my home and auto coverage?
• Are my friends covered when driving my vehicle?
• Do I have coverage if my license is suspended?
• Do I need PIP coverage since I have good health insurance?

If you’re not sure about those questions but a few of them apply, you may need to chat with an agent. To find an agent in your area, simply complete this short form. It is quick, free and you can get the answers you need.

Save $385 a year? Really?

Consumers constantly see and hear ads for the lowest price auto insurance by State Farm, Allstate and GEICO. They all make an identical promise that you’ll save big if you switch to their company.

How do they all make the same claim? It’s all in the numbers.

All the different companies are able to cherry pick for the type of customer that is profitable for them. For instance, a preferred risk might be profiled as between 30 and 50, a clean driving record, and has a short commute. A propective insured who fits that profile will get very good rates and most likely will pay quite a bit less when switching companies.

Drivers who fall outside this ideal profile will have to pay higher premiums and ends up with business going elsewhere. The ads say “people who switch” not “everybody who quotes” save that kind of money. That’s the way insurance companies can confidently advertise the savings.

Because of the profiling, you need to get as many comparisons as possible. It’s impossible to know the company that will fit your personal profile best.

Additional auto insurance information is available on the Vermont Department of Financial Regulation website. Click here for link. Vermont consumers can view agent and company licensing information, file complaints about an insurance agent or broker, and read industry bulletins.

Other useful links include these car insurance answers and this link which helps you find a Middlebury agent.

Better coverage you can count on

You just learned some good ideas how you can shop for auto insurance online. The key concept to understand is the more times you quote, the higher the chance of saving money. You may even find the lowest priced auto insurance comes from a small local company.

Low-cost auto insurance can be purchased on the web in addition to many Middlebury insurance agents, so you should compare both in order to have the best chance of saving money. There are still a few companies who do not provide online quoting and many times these small, regional companies only sell through independent insurance agents.

When you buy insurance online, make sure you don’t buy poor coverage just to save money. There have been many cases where someone sacrificed comprehensive coverage or liability limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy enough coverage at an affordable rate while still protecting your assets.