Easy Methods to Pay Less on Minnesota Lake Car Insurance

Buying the lowest cost Minnesota Lake car insurance over the internet is intimidating for beginners to comparing rates online. Since there are so many insurers available, how can consumers effectively compare every one to find the cheapest rates?

It's important to take a look at other company's rates on a regular basis due to the fact that insurance rates are constantly changing. Just because you had the best price last year a different company probably has better rates today. Ignore everything you know about car insurance because I'm going to let you in on the secrets to the proper way to reduce your cost while improving coverage.

Don't pay full price with these discounts

Companies offering auto insurance don't always advertise all their discounts in an easy-to-find place, so we took the time to find both the well known as well as the least known savings tricks you should be using.

  • College Student - Kids in college who attend school more than 100 miles from home and do not have a car may be able to be covered for less.
  • Accident Waiver - A few companies will forgive one accident before your rates go up as long as you don't have any claims prior to the accident.
  • Passive Restraint Discount - Factory air bags or automatic seat belts can get savings of 20% or more.
  • Defensive Driver - Completing a defensive driving course could cut 5% off your bill if you qualify.
  • Government Employees - Active or retired federal employment can save as much as 8% with select insurance companies.
  • Senior Citizens - If you qualify as a senior citizen, you may qualify for better car insurance rates.

A little note about advertised discounts, most discount credits are not given to all coverage premiums. The majority will only reduce individual premiums such as liability, collision or medical payments. So when it seems like it's possible to get free car insurance, you won't be that lucky.

Minnesota Lake car insurance comparison

Minnesota Lake Rates are Influenced by These Factors

Smart consumers have a good feel for the different types of things that go into determining the rates you pay for car insurance. Understanding what impacts premium levels enables informed choices that may reward you with lower car insurance prices.

Listed below are a few of the "ingredients" car insurance companies consider when setting rates.

  • Older drivers pay less - More mature drivers are viewed as being more responsible, tend to file fewer claims and tend to be better behind the wheel. Youthful drivers are statistically proven to be more careless when driving therefore car insurance rates are much higher.
  • Are you male or female? - Statistics have proven that men are more aggressive behind the wheel. That doesn't necessarily mean that men are worse drivers. Women and men cause accidents in similar percentages, but the males cause more damage. They also receive more costly citations like DUI and reckless driving. Youthful male drivers are most likely to cause an accident and therefore are the most expensive to insure.
  • Bad driving skills means higher rates - Careful drivers have lower premiums than bad drivers. Even one moving violation can boost insurance rates by as much as thirty percent. Drivers who have serious citations like reckless driving, hit and run or driving under the influence may need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to continue driving.
  • Policy add-ons can waste money - There are many add-on coverages that you can buy when buying car insurance. Coverages like personal injury protection, towing coverage and term life insurance may be costing you every month. These may sound like a good investment when you first buy your policy, but if they're wasting money get rid of them and save.
  • Credit scores impact car insurance rates - Credit score is a important factor in determining what you pay for car insurance. Therefore, if your credit score is lower than you'd like, you could potentially save money when insuring your by repairing your credit. Drivers who have high credit scores tend to be better drivers and file fewer claims than drivers who have poor credit.
  • Where you live can impact rates - Residing in a rural area can be a good thing when talking about car insurance. Less people living in that area translates into fewer accidents. City drivers have much more traffic to deal with and longer commute times. More time commuting translates into higher accident risk.

The car insurance bait and switch

Car insurance companies such as Progressive, GEICO, Allstate and State Farm constantly bombard you with ads in print and on television. They all seem to make an identical promise about savings if you switch to their company. How do they all claim to save you money?

All companies have a preferred profile for the driver that earns them a profit. For example, a desirable insured might be over the age of 40, insures multiple vehicles, and has great credit. Any driver who meets those qualifications gets the lowest rates and therefore will cut their rates substantially.

Drivers who don't measure up to the "perfect" profile will have to pay a higher premium and ends up with the customer not buying. Company advertisements say "customers that switch" not "everyone that quotes" save that much. This is how companies can truthfully advertise the savings. Because of the profiling, drivers should get as many quotes as possible. You cannot predict which insurance companies will give you the biggest savings.

Even more information can be found at the Minnesota Department of Commerce website. Visitors are able to read enforcement actions against agents and companies, learn about insurance regulations, and file complaints about a company.

Final considerations

As you prepare to switch companies, you should never skimp on coverage in order to save money. There are many occasions where drivers have reduced physical damage coverage only to discover later that the small savings ended up costing them much more. Your aim should be to buy the best coverage you can find at a price you can afford.

Cheaper car insurance is available both online and also from your neighborhood Minnesota Lake agents, and you need to comparison shop both to have the best selection. There are still a few companies who may not provide you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.

We just presented some good ideas how you can reduce car insurance prices online. The key thing to remember is the more times you quote, the higher your chance of finding lower rates. You may be surprised to find that the lowest premiums are with some of the lesser-known companies.