How to Know You're Spending Too Much for Auto Insurance in Panama

Paying for high-priced auto insurance can drain your personal savings and make it hard to pay other bills. Comparison shopping is free, only takes a few minutes, and is a good way to slash your bill and have more diposable income.

Having so many options when it comes to auto insurance, it can be impossible to pick the best insurer.

Low Cost Panama Auto Insurance

Most companies provide prices for coverage on the web. This process is fairly straightforward as you just enter your coverage information as detailed in the form. When the form is submitted, the system will obtain your credit score and driving record and provides a quote based on these and other factors. This makes comparing rates easy, but the work required to visit several different sites and complete many quote forms is repetitive and time-consuming. But it's very important to have as many quotes as possible if you want to find the best price on auto insurance.

A quicker way to locate the lowest prices uses one form to get prices from multiple companies. The form is fast, reduces the work, and makes quoting online much easier. As soon as the form is sent, it gets priced and you can choose any or none of the quotes returned. If one or more price quotes are lower than your current rates, you can simply submit the application and buy the policy. The whole process can be completed in less than 10 minutes and you will find out if you're overpaying now.

To find out if lower rates are available, click here to open in new window and begin entering your coverage information. If you have your current policy handy, we recommend you copy the insurance coverages as close as possible to your current policy. This ensures you will receive rate comparison quotes for similar insurance coverage.

Are you getting all your discounts?

Companies do not list all available discounts very well, so the following is a list of both the well known and the harder-to-find savings tricks you should be using.

  • Multi-car Discount - Buying coverage for more than one vehicle on the same auto insurance policy qualifies for this discount.
  • Student in College - Kids in college living away from home attending college and do not have a car can be insured at a reduced rate.
  • Anti-lock Brake System - Anti-lock brake equipped vehicles are safer to drive and therefore earn up to a 10% discount.
  • Theft Prevention System - Cars that have factory anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
  • Accident Waiver - Some insurance companies will allow you to have one accident before raising your premiums so long as you haven't had any claims for a particular time prior to the accident.
  • Good Student Discount - A discount for being a good student can be rewarded with saving of up to 25%. The good student discount can last until age 25.

A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Just because it seems like having all the discounts means you get insurance for free, you won't be that lucky.

To see a list of insurers offering auto insurance discounts in New York, click here to view.

Tailor your coverage to you

When choosing coverage for your personal vehicles, there really is no perfect coverage plan. Every insured's situation is different so your insurance should reflect that For instance, these questions may help you determine whether you might need an agent's assistance.

  • Can I afford to buy a different vehicle if my vehicle is totaled?
  • What are New York no-fault laws?
  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Do I need special endorsements for business use of my vehicle?
  • Does my policy cover me when driving someone else's vehicle?
  • Do I need to file an SR-22 for a DUI in New York?
  • Does my policy cover my teen driver if they drive my company car?
  • Are my tools covered if they get stolen from my vehicle?

If you're not sure about those questions but you think they might apply to your situation then you might want to talk to an agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies.

More sites with auto insurance information

Even more information can be read at the New York Department of Financial Services website. Visitors are able to report car insurance fraud, read enforcement actions against agents and companies, find out industry alerts, and read consumer alerts.

Additional helpful sites include this link for New York auto insurance quotes and this page for help finding agents in Panama, NY.