Easy Tips to Spend Less on Hopkins Car Insurance

Price shopping your Hopkins car insurance is a challenge for consumers not familiar with buying insurance online. Drivers have so many companies to choose from that it can turn into more work than you anticipated to find the best price in Hopkins.

It's important to shop coverage around before your policy renews because rates are constantly changing. Despite the fact that you may have had the lowest price last year you can probably find a better price now. There is a lot of bad information regarding car insurance on the web, but I'm going to show you some great ways to quit paying high car insurance rates.

Tips to Get Lower Hopkins Rates

Consumers need to have an understanding of some of the elements that help determine your car insurance rates. Understanding what influences your rates empowers consumers to make smart changes that may reward you with much lower annual insurance costs.

The following are a partial list of the pieces used by your company to calculate rates.

More miles equals more premium - Driving more miles every year the more you will pay for car insurance. Almost all companies rate vehicles based on their usage. Vehicles used primarily for pleasure use receive lower rates than vehicles that are driven to work every day. Double check that your car insurance coverage is showing the proper vehicle usage, because improper ratings can cost you money.
Your car insurance rates can be influenced by your job - Did you know your job can affect your rates? Jobs such as judges, architects and accountants have higher rates than average attributed to high stress and long work days. On the flip side, occupations such as farmers, athletes and performers get better rates.
With age comes lower rates - Mature drivers are viewed as being more responsible, statistically cause fewer accidents and get fewer tickets. Young drivers are known to be less responsible in a vehicle therefore car insurance rates are much higher.
Bump up deductibles to save - Physical damage insurance, termed comprehensive and collision coverage on your policy, is used to repair damage to your car. A few examples of covered claims are colliding with a building, damage from fire, and rolling your vehicle. Your deductibles are how much you are required to spend before a claim is paid by your company. The more you have to pay, the less your company will charge you for insurance.
How's your driving record? - Your driving citation history impacts your car insurance rates tremendously. Drivers who don't get tickets receive lower rates compared to drivers with tickets. Just one speeding ticket can bump up the cost by twenty percent. Drivers who have flagrant citations like DUI or reckless driving may need to submit a SR-22 form with their state motor vehicle department in order to keep their license.
Add-on coverages can add up - There are a ton of extra bells and whistles that you can buy on your policy. Coverages like rental car reimbursement, towing coverage and additional equipment coverage are examples of these. These coverages may sound good at first, but now you might not need them so get rid of them and save.
Is your vehicle built for speed? - The make and model of the vehicle you own makes a big difference in how high your rates are. Lower performance four cylinder passenger cars receive the most favorable rates, but there are many factors that impact the final cost.
Higher safety ratings means cheaper insurance - Vehicles with high crash test scores are cheaper to insure. These vehicles protect occupants better and fewer injuries translates into fewer and smaller insurance claims and lower rates for you.

These discounts can lower your rates

The price of auto insurance can be rather high, buy you may qualify for discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you get a quote, but a few must be asked for before you will receive the discount. If they aren't giving you every credit available, you are paying more than you should be.

New Car Discount - Insuring a new car can cost up to 25% less because new vehicles have to meet stringent safety requirements.
Employee of Federal Government - Employees or retirees of the government could cut as much as 10% off with select insurance companies.
55 and Retired - If you're over the age of 55, you may be able to get a small decrease in premiums.
Homeowners Pay Less - Owning a house in Hopkins may trigger a car insurance policy discount due to the fact that maintaining a home shows financial diligence.
Air Bag Discount - Factory air bags can get savings up to 30%.

It's important to note that most credits do not apply to the entire cost. Most only apply to the cost of specific coverages such as collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, you're out of luck. But any discount will cut the cost of coverage.

To choose companies who offer car insurance discounts in Hopkins, follow this link.

Are you falling for claims of savings?

Consumers can't ignore all the ads for the lowest price auto insurance from the likes of GEICO, State Farm and Progressive. They all seem to say the same thing that you can save after switching your coverage to them.

How do they all make the same claim?

Insurance companies can use profiling for the type of customer that makes them money. For instance, a desirable insured could be a mature driver, is a homeowner, and has great credit. A customer who fits that profile is entitled to the best price and as a result will probably cut their rates substantially.

Drivers who are not a match for the "perfect" profile will have to pay higher premiums which usually ends up with business going elsewhere. The ads state "people who switch" not "everybody who quotes" save that much money. That's why insurance companies can advertise the savings.

Because of the profiling, you should compare as many rates as you can. Because you never know the company that will give you the biggest savings.

Learn more today

More information is located on the Minnesota Department of Commerce website through this link. Consumers can file complaints about an insurance agent or broker, read industry bulletins, and read enforcement actions against agents and companies.

In the end, you save

As you prepare to switch companies, never buy poor coverage just to save money. In many instances, an accident victim reduced collision coverage and learned later that the small savings ended up costing them much more. The ultimate goal is to buy a smart amount of coverage at an affordable rate.

Consumers change insurance companies for many reasons like delays in paying claims, high rates after DUI convictions, not issuing a premium refund or even lack of trust in their agent. Regardless of your reason for switching companies, finding the right car insurance provider is easier than you think.

Lower-priced car insurance can be bought from both online companies as well as from independent agents in Hopkins, and you need to price shop both to have the best chance of lowering rates. There are still a few companies who don't offer online price quotes and most of the time these small, regional companies sell through independent agents.