Car insurance plays a major role in the overall cost of vehicle ownership. For an average Waukesha area household, paying less for insurance might allow enough room in the budget for a nicer car, a couple of dinners out each month, or even a weekend trip out of town. Of course, finding the most affordable car insurance is often easier said than done. Rates can vary widely between insurers; not to mention, insurance companies use special formulas that calculate premiums differently for different people. In other words, the most affordable company for one person may be the most expensive for another. So how do you know which one is right for you?
1. Know What Goes Into Your Rates
One of the biggest mistakes a driver can make is not knowing which factors influence car insurance rates. There are a lot of myths and misinformation out there, which is why it is so important to work with an independent agent who can offer guidance and help you navigate the truths of the insurance market. Many factors go into the cost of car insurance, and all are weighed differently from insurer to insurer.
Negative Risk Factors:
- Driving long distances or having a long daily commute
- Poor management of your money and credit
- Living in an area with high crime rates
- Owning a vehicle that is more likely to be stolen
- Making multiple insurance claims in the previous 5-7 years
- Having a history of traffic citations or car accidents
- Insuring a young driver on your policy
- Having a claims-free insurance history
- Owning a home
- Being over age 50
- Low annual mileage
- No history of accidents or citations
- Vehicle safety features (i.e. airbags, anti-theft devices, and alarms)
2. Use an Independent Agent to Shop Around
Independent agents are highly underutilized despite the tremendous savings they can procure on behalf of their clients. It costs drivers nothing to use an independent agent, yet they benefit from having an advocate working on their behalf to find affordable rates on high-quality coverage. If you are not working with an independent agent here at Carrigan Insurance, you could be paying too much for coverage. We search high and low to find competitive rates without sacrificing coverage. We are even available to our customers long after they purchase coverage, answering questions, and offering help with claims.
3. Look for Discounts
Drivers should be on the lookout for every possible discount when it comes to car insurance. Our team can uncover savings for drivers who meet certain qualifications, such as insuring multiple vehicles under the same policy or insuring a home and car with the same insurance carrier. Additional discounts may be available for students who maintain good grades and drivers who enroll in an approved driver safety education course.
For more information about the cost of car insurance or to request your free quotes, contact our team today. We look forward to serving you soon.