How to Find the Cheapest Lake Benton Auto Insurance

Comparison shopping for Lake Benton auto insurance is challenging for consumers new to comparing rates online. There are so many companies to choose from that it can be more work than you anticipated to compare prices in Lake Benton.

It's important to take a look at other company's rates before your policy renews since insurance rates are constantly changing. Just because you had the lowest price on your last policy you will most likely find a better rate today. There is a lot of bad advice regarding auto insurance on the internet, so I'm going to show you some great ways to put money back in your pocket.

If you have insurance now or are looking for a new policy, you can learn to find better prices while maximizing coverage. The purpose of this article is to let you in on the best way to quote coverages and some money-saving tips. Minnesota vehicle owners just need to know the most efficient way to compare rates online.

Policy discounts you shouldn't miss

The price of auto insurance can be rather high, but you can get discounts that you may not even be aware of. Certain discounts will be applied when you get a quote, but a few must be inquired about before you will receive the discount. If you aren't receiving every discount available, you are throwing money away.

  • New Vehicle Savings - Adding a new car to your policy is cheaper compared to insuring an older model.
  • Employee of Federal Government - Active or retired federal employment can earn a discount up to 10% with select insurance companies.
  • Passive Restraints - Factory air bags can qualify for discounts of more than 20%.
  • Drivers Ed for Students - Make teen driver coverage more affordable by requiring them to complete a driver education course in school.
  • Payment Discounts - By paying your policy upfront instead of monthly or quarterly installments you may reduce your total bill.
  • College Student - Youth drivers who are attending college and do not have a car can receive lower rates.
  • Anti-theft System - Vehicles with anti-theft systems help deter theft and earn discounts up to 10%.
  • Anti-lock Brakes - Cars that have steering control and anti-lock brakes are safer to drive and will save you 10% or more.
  • Defensive Driver - Taking a course teaching defensive driving skills could save 5% or more if you qualify.
  • Life Insurance Discount - Select insurance companies reward you with better rates if you take out life insurance from them.

Drivers should understand that some of the credits will not apply to the entire cost. The majority will only reduce specific coverage prices like collision or personal injury protection. So when the math indicates you would end up receiving a 100% discount, companies wouldn't make money that way. But all discounts will reduce the amount you have to pay.

Minnesota auto insurance quotes

Save $429 a year? Really?

Minnesota drivers get pounded daily by advertisements for the lowest price auto insurance by GEICO, State Farm and Progressive. They all seem to have a common claim that you'll save big if you switch to their company.

How can each company say the same thing? It's all in the numbers.

Different companies can use profiling for the driver that earns them a profit. For instance, a desirable insured might be profiled as between the ages of 30 and 50, is a homeowner, and has great credit. A propective insured that hits that "sweet spot" gets the lowest rates and is almost guaranteed to save when they switch companies.

Drivers who don't qualify for the requirements will have to pay higher premiums and this can result in business not being written. Company advertisements say "customers who switch" but not "drivers who get quotes" save that much. That's why companies can advertise the savings.

Because of the profiling, you should compare as many rates as you can. It's not possible to predict the company that will fit your personal profile best.

Much more information about auto insurance in Minnesota is located on the Minnesota Department of Commerce website found here. Minnesota drivers can file complaints about an insurance agent or broker, download brochures, and find out industry alerts.

A tidy conclusion

When you buy insurance online, it's not a good idea to buy lower coverage limits just to save a few bucks. In many instances, an accident victim reduced collision coverage and learned later that the few dollars in savings costed them thousands. The ultimate goal is to buy the best coverage you can find at the best price.

Drivers switch companies for a variety of reasons including delays in paying claims, extreme rates for teen drivers, poor customer service and even unfair underwriting practices. No matter why you want to switch, finding a new auto insurance company is less work than it seems.

In this article, we covered a lot of techniques to reduce auto insurance prices online. The key thing to remember is the more rate quotes you have, the more likely it is that you will get a better rate. Drivers may discover the lowest rates come from some of the smallest insurance companies.