How to Know You're Spending Too Much for Car Insurance in New Hope

Having to pay for overpriced car insurance can dwindle your checking account and make it hard to pay other bills. Comparing price quotes is a great way to reduce premiums and put more money in your pocket.

Popular companies such as GEICO and Progressive continually bombard you with ad campaigns and it is challenging if not impossible to sift through the bull and effectively compare rates to find the best deal.

It's important to shop coverage around yearly due to the fact that insurance rates are constantly changing. Even if you got the best rates a year ago there is a good chance you can find better rates now. You'll find quite a bit of inaccurate information about car insurance online but we're going to give you some great ways to reduce your car insurance bill.

If you have car insurance now, you will be able to reduce your rates substantially using these methods. Buying car insurance in New Hope is quite easy. Nevertheless, Minnesota consumers do need to know how insurance companies price online insurance.

Tips to Get Lower New Hope Rates

Consumers need to have an understanding of the factors that go into determining the rates you pay for car insurance. Having a good understanding of what determines base rates empowers consumers to make smart changes that can help you get lower car insurance prices.

  • High credit ratings translate to low rates - Your credit score is a huge factor in determining what you pay for car insurance. So if your credit score is lower than you'd like, you could save money insuring your by improving your credit score. People with high credit ratings tend to be more responsible than drivers with poor credit.
  • Where you live is a factor - Residing in a rural area has it's advantages when talking about car insurance. Lower population means a lower chance of having an accident and a lower car theft rate. City drivers have congested traffic and a longer drive to work. More time commuting means more change of being in an accident.
  • How many coverages with the same company - Most insurance companies give discounts to insureds who carry more than one policy such as combining an auto and homeowners policy. Discounts can add up to 10 percent or more. If you currently are using one company, it's in your best interest to comparison shop to verify if the discount is saving money.
  • Your job and insurance rates - Did you know your occupation can influence how much you pay for car insurance? Occupations like real estate brokers, social workers and dentists have the highest average rates in part from job stress and lengthy work days. Other professions such as pilots, historians and homemakers get better rates.
  • Battle of the sexes - Statistics have proven women are more cautious behind the wheel. That doesn't necessarily mean that women are BETTER drivers than men. Women and men tend to get into accidents at a similar rate, but men cause more damage. Men also get more serious tickets like DUI and reckless driving. Male drivers age 16 to 19 tend to get in the most accidents and are penalized with high car insurance rates.

New Hope car insurance quote

Compare Car Insurance Today

There are several ways of comparing rates from local New Hope car insurance companies. One of the best ways to compare insurance prices is to use the internet to compare rates. This is very easy and can be done using a couple different methods.

  1. The fastest way to find low rates is to use a rate comparison form (click to open form in new window). This type of form saves time by eliminating repetitive form submissions for every car insurance company. A single, simple form compares rates from multiple companies.
  2. A slightly less efficient method to get quotes online is going to the website for each individual company to complete a price quote. For examples sake, we'll pretend you want comparison quotes from , and . To get rate quotes you would need to take the time to go to each site and enter your information, and that's why the first method is more popular.

    To view a list of companies in New Hope, click here.

Whichever method you choose, make sure you use exactly the same coverage limits and deductibles with each company. If you use different liability limits it will be very difficult to make an equal comparison in New Hope. Slightly different coverage limits may result in large price differences. And when comparing car insurance rates, know that comparing more company's prices will improve the odds of getting the best rates.

Save big with these discounts

Companies offering auto insurance don't list every available discount in a way that's easy to find, so the following is a list of both the well known and the harder-to-find discounts you could be receiving.

  • Anti-lock Brakes - Vehicles equipped with ABS or steering control are safer to drive and earn discounts up to 10%.
  • Multi-policy Discount - If you insure your home and vehicles with the same company you could get a discount of up to 20% off your total premium.
  • Government Employees - Employees or retirees of the government can save as much as 8% with certain companies.
  • Low Mileage - Driving fewer miles could qualify for a substantially lower rate.
  • Organization Discounts - Being a member of a civic or occupational organization may earn a discount on your policy.
  • Payment Discounts - By paying your policy upfront instead of making monthly payments you could save up to 5%.
  • Drivers Ed for Students - Cut your cost by having your teen driver take driver's ed class in school.
  • Good Student Discount - This discount can get you a discount of up to 25%. The good student discount can last until age 25.

Consumers should know that some credits don't apply to your bottom line cost. Most only apply to the price of certain insurance coverages like comprehensive or collision. Just because it seems like it's possible to get free car insurance, companies don't profit that way.

To choose providers offering car insurance discounts in New Hope, click here.

Car insurance ads bend the truth

Companies like Allstate and Progressive constantly bombard you with ads on TV and radio. All the ads have a common claim of big savings if you switch your coverage to them. How can each company claim to save you money? This is how they do it.

All companies have a preferred profile for the type of customer that makes them money. A good example of a preferred risk might be over the age of 50, has no prior claims, and has excellent credit. Any driver that hits that "sweet spot" is entitled to the best price and most likely will save when they switch companies.

Potential insureds who fall outside the requirements will be charged more money and this can result in the customer not buying. The ads state "drivers who switch" not "people who quote" save that much money. This is how insurance companies can confidently make those claims. That is why you need to get as many quotes as possible. You cannot predict which insurance companies will have the lowest rates.

But I don't know anything about car insurance

When buying coverage for your personal vehicles, there really is not a perfect coverage plan. Everyone's situation is unique and your policy should reflect that. These are some specific questions can help discover if your situation may require specific advice.

  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • What is the difference between comprehensive and collision coverage?
  • Am I covered when driving in Canada or Mexico?
  • Why am I required to get a high-risk car insurance policy?
  • Should I buy additional glass protection?
  • Is my nanny covered when driving my vehicle?
  • Am I getting all the discounts available?

If you can't answer these questions but you know they apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, simply complete this short form or click here for a list of car insurance companies in your area.

More tips and info about car insurance can be read at the Minnesota Department of Commerce website. Visitors are able to find out industry alerts, view agent and company licensing information, read consumer alerts, and read industry bulletins.

Minnesota car insurance quotes

The best insurance company isn't always the cheapest

While you're price shopping online, it's a bad idea to reduce coverage to reduce premium. Too many times, consumers will sacrifice collision coverage and discovered at claim time they didn't purchase enough coverage. The aim is to buy a smart amount of coverage for the lowest price, not the least amount of coverage.

Cost effective car insurance can be found both online as well as from independent agents in New Hope, and you should be comparing both to have the best chance of lowering rates. Some companies don't offer online price quotes and many times these small insurance companies only sell through independent insurance agents.