How to Know You're Wasting Money for Auto Insurance in Mankato

Did you fall for a flashy sales pitch and buy overpriced auto insurance? Trust us, many consumers are feeling buyer's remorse and feel like there's no way out.

You have multiple to buy insurance from, and although it's a good thing to have a choice, having more makes it harder to compare rates.

How to Compare Mankato Auto Insurance Costs

The are a couple different ways of comparing rates from auto insurance companies in your area. The recommended way to find the cheapest insurance rates consists of shopping online. This can be accomplished using a couple different methods.

The first (and easiest) way to get the best comparison quotes is a comparison rater form click here to open form in new window. This easy form saves time by eliminating separate quotation requests for every auto insurance company. Completing one form compares rates from auto insurance companies with the best prices.

A slightly less efficient method to shop for auto insurance online is going to the website of each company to complete a price quote. For instance, let's assume you want to compare rates from , and . To get rate quotes you would need to go to every website and enter your information, which is why most consumers use the first method. For a list of links to companies insuring cars in Mankato, click here.

It's your choice how you get your quotes, but compare identical coverage limits and deductibles for every company. If your comparisons have different liability limits it will be next to impossible to decipher which rate is best in Mankato. Quoting even small variations in coverages can mean a large discrepancy in price. Just keep in mind that more quotes helps locate the best rates.

Why some people pay less for insurance in Mankato

It's important that you understand the different types of things that go into determining the rates you pay for auto insurance. Knowing what impacts premium levels allows you to make educated decisions that will entitle you to lower auto insurance prices.

Lower rates with optional equipment - Choosing a vehicle that has an advanced theft prevention system can get you a discount on your auto insurance. Anti-theft features like GM's OnStar, tamper alarm systems and vehicle immobilizers can thwart car theft.
Extra add-on coverages are wasting money - There are many extra coverages that can waste your money when buying auto insurance. Coverages for vanishing deductibles, accident forgiveness and motor club memberships may be costing you every month. These may sound like a good investment at first, but if you don't need them eliminate them to save money.
Multiple policies with one company can save - Most insurers provide better rates to insureds who have multiple policies with them in the form of a multi-policy discount. Even if you're getting this discount you may still want to shop around to make sure you are getting the best deal. You may still be able to find a better deal by insuring with multiple companies.
Older drivers save more - Youthful drivers in Minnesota are statistically proven to be careless and easily distracted when behind the wheel so they pay higher auto insurance rates. Older insureds are more cautious drivers, tend to file fewer claims and are safer drivers.
Battle of the sexes - Statistics demonstrate that women are safer drivers than men. That doesn't necessarily mean that women are better drivers. Women and men have accidents in similar numbers, but the men cause more damage. Men also statistically receive more costly citations like DUI and reckless driving. Youthful male drivers are several times more likely to be in an accident and thus pay the highest rates.
Too many auto insurance claims drive up costs - If you tend to file frequent claims, you can pretty much guarantee either a policy non-renewal or much higher rates. Companies in Minnesota award lower rates to insureds who file claims infrequently. Auto insurance is intended for the large, substantial claims.
Cautious drivers pay less - A bad driving record has a lot to do with how much you pay for insurance. Good drivers receive lower rates than bad drivers. Even one moving violation can increase rates forty percent or more. If you have serious violations like DWI, reckless driving or hit and run convictions may find they need to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to continue driving.

Policy discounts you shouldn't miss

Insuring your fleet can be pricey, but you may find discounts that many people don't even know exist. Larger premium reductions will be automatically applied at quote time, but less common discounts must be asked for in order for you to get them.

Drivers Education - Require your teen driver to successfully complete driver's ed class in school.
Defensive Driver - Completing a defensive driving course could possibly earn you a 5% discount depending on where you live.
Anti-lock Brake System - Vehicles with anti-lock braking systems are safer to drive and will save you 10% or more.
Distant Student - Kids in college who are attending college and do not have a car can receive lower rates.
No Charge for an Accident - Certain companies permit an accident without raising rates if your claims history is clear prior to the accident.
Anti-theft Discount - Cars that have factory anti-theft systems prevent vehicle theft and qualify for as much as a 10% discount.

As a disclaimer on discounts, most discounts do not apply the the whole policy. A few only apply to the cost of specific coverages such as liability and collision coverage. So when the math indicates you can get free auto insurance, auto insurance companies aren't that generous. Any amount of discount will bring down the amount you have to pay.

For a list of insurance companies offering auto insurance discounts in Minnesota, click here to view.

Additional information is located on the website for the Minnesota Department of Commerce through this link. Visitors are able to view a list of available companies, discover disciplinary actions, read consumer alerts, and read enforcement actions against agents and companies.

Affordable insurance is out there

Cheap auto insurance can be found both online and with local Mankato insurance agents, and you need to price shop both in order to have the best chance of saving money. A few companies do not offer online quoting and these small, regional companies work with independent agents.

When trying to cut insurance costs, it's very important that you do not reduce needed coverages to save money. There have been many situations where an insured dropped liability coverage limits only to discover later that it was a big mistake. The proper strategy is to buy enough coverage at an affordable rate while still protecting your assets.