It’s safe to assume that auto insurance companies want to keep you from comparing rates. Insureds who shop around for a cheaper policy are very likely to move their business because they have a good chance of finding a policy with more affordable rates. Remarkably, a study showed that people who compared rates once a year saved approximately $70 a month compared to policyholders who didn’t regularly shop around.
If finding the lowest price on car insurance is your ultimate goal, then having a grasp of how to shop for insurance premiums can make shopping around easier.
The preferred way to find cheaper car insurance rates in Fort Worth is to compare prices at least once a year from different companies who sell auto insurance in Texas. Price quotes can be compared by following these steps.
- Try to learn about how your policy works and the measures you can control to keep rates low. Many factors that increase rates like speeding tickets, accidents and a low credit rating can be remedied by making minor changes to your lifestyle. This article provides ideas to get affordable coverage and find overlooked discounts.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide prices from many different companies.
- Compare the new rate quotes to the price on your current policy and determine if cheaper ATS coverage is available. If you find better rates and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
- Give notification to your current company of your intent to cancel your current coverage. Submit the signed application along with the required initial payment for your new coverage. As soon as coverage is bound, put the certificate of insurance along with your vehicle registration.
One key aspect of rate comparisons is that you use the same coverage limits and deductibles on every quote request and and to analyze all possible companies. Doing this helps ensure an apples-to-apples comparison and a better comparison of the market.
These techniques will teach you the best ways to compare prices and how you can save the most money. If you have auto insurance now, you will be able to cut your premiums using the concepts you’re about to learn. But Texas vehicle owners must know how big insurance companies calculate your auto insurance rates and take advantage of how the system works.
The are a couple different ways to compare rate quotes from local Fort Worth auto insurance companies. The best method to compare rates involves getting comparison quotes online.
Comparing free quotes online is easy and it, takes the place of having to go to different agent offices. Shopping for auto insurance online eliminates this option unless your situation requires the personal advice that you can only get from talking to an agent. Although you can comparison shop your insurance online but buy the policy through an agent. When comparing auto insurance rates, know that comparing more prices helps you find the best rates. Some smaller insurers do not give Fort Worth ATS insurance quotes online, so it’s important to compare quotes on coverage from those companies, too.
The following companies provide free rate quotes in Texas. If more than one company is shown, we suggest you get rate quotes from several of them to get the best price comparison.
You Can Change Your Insurance Costs
Many factors are taken into consideration when quoting car insurance. A few of the factors are predictable like an MVR report, but others are less apparent such as your credit history or how safe your car is. The best way to find cheaper insurance is to take a look at some of the things that come into play when calculating insurance rates. When you understand what influences your rates, this helps enable you to make changes that can earn you cheaper rates.
- Liability protection limits on your policy – Your policy’s liability coverage will afford coverage when you are found to be at fault for damages from an accident. It will provide you with a defense in court starting from day one. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.
- Safer cars save money – Cars with five star safety ratings tend to be cheaper to insure. Safe vehicles protect occupants better and reduced instances of injuries translates directly to fewer claims and cheaper rates on your policy.
- Bad drivers pay high premiums – Being a careful driver has a lot to do with how much you pay for insurance. Careful drivers pay lower auto insurance prices compared to bad drivers. Having a single speeding ticket can boost insurance rates by as much as twenty percent. Drivers unfortunate enough to have dangerous citations like reckless driving or DUI may find they need to complete a SR-22 to the state department of motor vehicles in order to legally drive a vehicle.
- Type of vehicle determines base costs – The performance level of the car you are trying to find cheaper insurance for makes a huge difference in your rates. The lowest performance passenger vehicles usually have the lowest premiums, but that’s not the only thing that factors into the final price.
- Single vs. married – Getting married may cut your premiums when shopping for insurance. It demonstrates that you tend to be more mature and responsible and statistics show married couples file fewer claims.
- Qualify for multi-policy discounts – Most larger insurance companies afford a discount to insureds who have multiple policies with them, otherwise known as a multi-policy discount. Even if you qualify for this discount already, you may still want to compare other Fort Worth ATS insurance rates to ensure the best deal.
Cadillac ATS claim data – Auto insurance companies analyze claim trends for every vehicle to help calculate a profitable premium rate. Models that statistically have higher claim amounts or frequency will be charged more to insure. The table shown below demonstrates the collected loss data for Cadillac ATS vehicles.
For each type of coverage, the claim amount for all vehicles, without regard to make or model, is considered to be 100. Percentage numbers below 100 imply a favorable loss record, while percentages above 100 indicate more frequent losses or statistically larger claims.
Cadillac ATS Insurance Loss Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Cadillac ATS 4dr 2WD 121 97 103 107 96 90 Cadillac ATS 4dr 4WD 127 81 91 92 93 74BETTERAVERAGEWORSE
Statistics from IIHS.org for 2013-2015 Model Years
Choosing the best vehicle insurance in Texas is an important decision
Despite the high cost, paying for insurance is mandatory in Texas but it also protects more than you think.
- Most states have minimum liability requirements which means state laws require a minimum amount of liability coverage in order to get the vehicle licensed. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a loan on your ATS, most banks will make it mandatory that you have insurance to guarantee payment of the loan. If coverage lapses or is canceled, the bank or lender will purchase a policy for your Cadillac for a much higher rate and require you to reimburse them for the expensive policy.
- Insurance safeguards your vehicle and your assets. Insurance will also pay for most medical and hospital costs for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, your policy will pay to repair the damage.
The benefits of buying insurance are definitely more than the cost, especially if you ever need it. But the average American driver is wasting up to $850 per year so compare quotes from several companies at every policy renewal to help ensure money is not being wasted.