How to Know You're Paying Too Much for Auto Insurance in Beaver

No one looks forward to buying auto insurance, particularly when the cost is way too high.

Drivers have so many to buy insurance from, and though it is a good thing to be able to choose, too many choices makes it more difficult to compare rates.

This information will introduce you to how to effectively get price quotes and some money-saving tips. If you currently have a car insurance policy, you will most likely be able to lower your premiums substantially using these methods. But Oklahoma consumers do need to know how companies sell online and apply this information to your search.

How to Lower your Auto Insurance Rates

Consumers need to have an understanding of the different types of things that play a part in calculating the rates you pay for auto insurance. Knowing what controls the rates you pay empowers consumers to make smart changes that could result in much lower annual insurance costs.

Shown below are a few of the "ingredients" used by your company to calculate premiums.

Lower deductibles cost more - Deductibles for physical damage represent how much money you are willing to pay out-of-pocket if you file a covered claim. Coverage for physical damage, also known as collision and other-than-collision, insures against damage to your car. A few examples of covered claims would be colliding with a building, damage from fire, or theft. The higher the amount you have to pay, the lower your rates will be.
More than one policy can earn a discount - Some insurers will award you with lower prices to insureds who carry more than one policy in the form of a multi-policy discount. Even though this discount sounds good, you may still want to comparison shop to verify if the discount is saving money.
With age comes lower rates - Youthful drivers in Oklahoma have a tendency to get distracted easily behind the wheel so they pay higher auto insurance rates. Having to add a youthful driver onto a policy can be very expensive. Older drivers are more responsible, statistically cause fewer accidents and receive fewer citations.
Liability coverage is peace of mind - Your policy's liability coverage is the coverage that protects you if you are found liable for personal injury or accident damage. It will provide for a legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap as compared to coverage for physical damage, so do not cut corners here.

Save big with these discounts

Insurance can cost an arm and a leg, but discounts can save money and there are some available that you may not know about. Some trigger automatically at the time you complete a quote, but a few need to be inquired about prior to getting the savings.

Multiple Cars - Insuring all your vehicles with the same company could earn a price break for each car.
Theft Prevention Discount - Cars that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.
Student in College - Kids in college who attend school more than 100 miles from home and don't have a car may qualify for this discount.
Organization Discounts - Being a member of a qualifying organization is a good way to get lower rates when buying auto insurance.
Claim Free - Good drivers with no accidents can save substantially when compared with accident-prone drivers.
Drivers Education - Cut your cost by having your teen driver enroll in driver's education if offered at their school.
Fewer Miles Equal More Savings - Low mileage vehicles can earn discounted rates on garaged vehicles.
Pay Now and Pay Less - If you pay your entire premium ahead of time instead of making monthly payments you could save up to 5%.
Save with a New Car - Adding a new car to your policy can cost up to 25% less because new vehicles have to meet stringent safety requirements.

Consumers should know that most discount credits are not given to your bottom line cost. Most only apply to the cost of specific coverages such as physical damage coverage or medical payments. Just because it seems like all the discounts add up to a free policy, companies don't profit that way. But all discounts will bring down your overall premium however.

To choose insurers with discount auto insurance rates in Oklahoma, click here to view.

Auto insurance ads bend the truth

Allstate, GEICO and Progressive consistently run ads on TV and radio. All the companies make an identical promise that you'll save big if you change your coverage to them. How does each company claim to save you money?

Insurance companies have a certain "appetite" for the type of customer that makes them money. For example, a profitable customer might be between 25 and 40, owns a home, and has great credit. A customer getting a price quote who meets those qualifications is entitled to the best price and most likely will save when switching.

Potential customers who fall outside these standards must pay a more expensive rate and ends up with the customer not buying. The ads state "people who switch" not "people who quote" save that much money. That is how companies can advertise the savings.

This illustrates why you should get a wide range of price quotes. It's impossible to know which company will fit your personal profile best.

But I don't know anything about car insurance

When buying the right insurance coverage for your vehicles, there isn't really a perfect coverage plan. Everyone's needs are different so your insurance should reflect that These are some specific questions might point out if your situation would benefit from an agent's advice.

Am I covered when driving on a suspended license?
Do I need special endorsements for business use of my vehicle?
Can I afford to buy a different vehicle if my vehicle is totaled?
Why does it cost so much to insure a teen driver in Beaver?
Does my liability insurance cover pulling a trailer or camper?
Do I qualify for additional discounts?
What companies insure drivers after a DUI or DWI?

If you're not sure about those questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies.

For more Oklahoma car insurance information

Much more information about auto insurance in Oklahoma can be found on the website for the Oklahoma Insurance Department through this link. Visitors are able to report car insurance fraud, read consumer alerts, read enforcement actions against agents and companies, and find out which companies have the most complaints.

Shop smart and save

Discount auto insurance can be sourced both online as well as from independent agents in Beaver, so you should compare both to have the best rate selection. There are still a few companies who don't offer online price quotes and usually these regional insurance providers provide coverage only through local independent agents.

When you buy insurance online, it's very important that you do not buy poor coverage just to save money. In too many instances, an insured cut physical damage coverage only to regret at claim time that the few dollars in savings costed them thousands. Your focus should be to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.