Tightwads Guide to Saving on Norman Auto Insurance

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Believe me when I say there are many Norman consumers feeling the pinch from expensive auto insurance. Having so many insurance companies to choose from, it is hard for the average consumer to locate the lowest price insurance company.

Pricing the lowest cost auto insurance coverage in Norman is quite easy. If you are insured now or need a new policy, you can learn to find the best rates and possibly find even better coverage. Oklahoma drivers only need an understanding of the best way to compare prices online.

How much can you save with discounts?

Insurance can be prohibitively expensive, but discounts can save money and there are some available to help offset the cost. Certain discounts will be triggered automatically at the time of quoting, but a few need to be asked for before you will receive the discount. If you don't get every credit possible, you are throwing money away.

  • Fewer Miles Equal More Savings - Keeping the miles down can earn discounted rates on garaged vehicles.
  • Clubs and Organizations - Participating in a professional or civic organization is a good way to get lower rates when buying auto insurance.
  • Lower Rates for Military - Being on active duty in the military can result in better rates.
  • Anti-theft System - Cars that have factory anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
  • More Vehicles More Savings - Buying insurance for multiple cars or trucks on one policy could earn a price break for each car.
  • Claim Free - Drivers with accident-free driving histories can save substantially when compared with drivers who are more careless.
  • Anti-lock Brake System - Cars that have steering control and anti-lock brakes prevent accidents and will save you 10% or more.

It's important to understand that most discount credits are not given to all coverage premiums. Most only apply to the cost of specific coverages such as liability and collision coverage. So even though they make it sound like you would end up receiving a 100% discount, it doesn't quite work that way. Any qualifying discounts will help reduce the amount you have to pay.

auto insurance in Norman

How to Lower your Auto Insurance Rates

Smart consumers have a good feel for the different types of things that come into play when calculating the price you pay for auto insurance. When you know what positively or negatively determines base rates empowers consumers to make smart changes that could result in better auto insurance rates.

  • Higher safety ratings means cheaper insurance - Safer cars can get you lower premiums. Safe vehicles protect occupants better and lower injury rates means lower claim amounts passed on to you as lower rates.
  • Protect yourself with liability coverage - The liability section of your policy provides coverage if a court rules you are at fault for personal injury or accident damage. It provides for a legal defense up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so do not cut corners here.
  • Save money with special equipment - Choosing a vehicle that has an advanced theft prevention system can help lower your rates. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system can thwart car theft.
  • Multiple policies with one company can save - The majority of insurers will award you with lower prices to customers who have multiple policies with them, otherwise known as a multi-policy discount. If you currently are using one company, you may still want to compare other company rates to verify if the discount is saving money. Consumers may find a better deal by buying auto insurance from a different company.
  • Do you know your deductibles? - Deductibles for physical damage represent how much money you are required to spend out-of-pocket in the event of a claim. Coverage for physical damage, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your car. A few examples of covered claims could be colliding with a building, vandalism, and burglary. The higher the amount you have to pay, the less your auto insurance will be.
  • Rates may be lower depending on your job - Occupations such as lawyers, business owners and stock brokers have the highest rates attributed to job stress and long work hours. On the other hand, occupations like actors, students and the unemployed get better rates.

Save 15 percent in 15 minutes? Is it for real?

Oklahoma consumers get pounded daily by advertisements that promise big savings from the likes of 21st Century, Allstate and State Farm. All the companies make an identical promise of big savings if you move your coverage to them.

But how can every company make almost identical claims?

Different companies are able to cherry pick for the type of customer that earns them a profit. For example, a profitable customer could possibly be between the ages of 40 and 55, has no driving citations, and drives newer vehicles. A driver who meets those qualifications is entitled to the best price and is almost guaranteed to save a lot of money.

Potential insureds who don't meet this ideal profile must pay more money and ends up with the driver buying from a lower-cost company. The ads state "people who switch" but not "drivers who get quotes" save that much money. That's the way insurance companies can confidently claim big savings.

This illustrates why drivers should compare many company's rates. It is impossible to predict which auto insurance company will give you the biggest savings.

Additional auto insurance information can be found on the website for the Oklahoma Insurance Department through this link. Oklahoma consumers can find disaster information, find out which companies have the most complaints, view a list of available companies, and read consumer alerts.

Also read more on this resource for Oklahoma auto insurance prices and this page of Norman insurance agents.

A tidy conclusion

Low-cost auto insurance is possible online as well as from independent agents in Norman, so you should be comparing quotes from both to have the best chance of lowering rates. A few companies don't offer you the ability to get quotes online and usually these regional insurance providers provide coverage only through local independent agents.

When trying to cut insurance costs, do not skimp on coverage in order to save money. There are a lot of situations where someone sacrificed physical damage coverage only to regret at claim time that it was a big mistake. The proper strategy is to buy a smart amount of coverage at an affordable rate while not skimping on critical coverages.