Getting Cheap Portsmouth Auto Insurance

Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Trust us, you are not the only one feeling buyer's remorse.

Drivers have multiple to pick from, and even though it's nice to be able to choose, it can be more challenging to compare rates.

It's important to compare prices every six months because insurance rates are constantly changing. Just because you found the best price last year you can probably find a better price now. Ignore everything you know about auto insurance because we're going to demonstrate the quickest way to reduce your cost while improving coverage.

Good Decisions Result in Lower Rates

Consumers need to have an understanding of the different types of things that play a part in calculating the price you pay for auto insurance. Knowing what impacts premium levels enables informed choices that can help you get big savings.

Shown below are a few of the "ingredients" auto insurance companies consider when setting your rates.

  • Traffic violations increase rates - Your driving record has a lot to do with how much you pay for insurance. Even a single moving violation can boost insurance rates by twenty percent. Careful drivers have lower premiums than their less careful counterparts. Drivers who get dangerous violations like reckless driving, hit and run or driving under the influence may be required to submit a SR-22 or proof of financial responsibility with their state DMV in order to prevent a license revocation.
  • Liability coverage protects you - Your policy's liability coverage provides coverage in the event that a court rules you are at fault for causing damage or personal injury in an accident. It provides for a legal defense which can cost thousands of dollars. Liability is cheap as compared to coverage for physical damage, so do not cut corners here.
  • Do you know your deductibles? - Coverage for physical damage, otherwise known as comp (or other than collision) and collision, protects your car from damage. Some instances where coverage would apply could be a windshield shattered by a rock, vandalism, or theft. Deductibles for physical damage are the amount of money you are willing to pay out-of-pocket if you file a covered claim. The higher the amount you are required to pay out-of-pocket, the less your auto insurance will be.
  • Proper usage rating affects rates - The higher the mileage driven in a year the higher your rates will be. Most insurance companies apply a rate based upon how you use the vehicle. Cars and trucks not used for work or commuting qualify for better rates compared to those used for work or business. Ask your agent if your auto insurance declarations sheet shows the correct usage for each vehicle.
  • Policy add-ons can waste money - There are quite a few extra coverages you can purchase on your auto insurance policy. Coverages for vanishing deductibles, better glass 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 eliminate them to save money.
  • Pay less if you're married - Having a spouse helps lower the price on your policy. Marriage means you're more responsible and it's proven that being married results in fewer claims.

Virginia auto insurance

Policy discounts you shouldn't miss

Companies offering auto insurance don't always advertise every available discount very clearly, so we took the time to find both well-publicized as well as the least known savings tricks you should be using.

  • Discount for Good Grades - This discount can be rewarded with saving of up to 25%. This discount can apply up until you turn 25.
  • Organization Discounts - Participating in a qualifying organization is a good way to get lower rates on your policy.
  • Multiple Cars - Buying insurance for all your vehicles with the same company may reduce the rate for each vehicle.
  • Life Insurance - Companies who offer life insurance give a discount if you purchase auto and life insurance together.
  • Low Mileage - Low mileage vehicles can earn discounted rates on garaged vehicles.
  • Homeowners Discount - Being a homeowner can help you save on auto insurance because maintaining a house is proof that your finances are in order.

As a disclaimer on discounts, most discount credits are not given to all coverage premiums. A few only apply to individual premiums such as medical payments or collision. So when it seems like all those discounts means the company will pay you, auto insurance companies aren't that generous.

To choose providers with discount auto insurance rates in Virginia, click here to view.

Save $429 a year? Really?

Companies like State Farm and Allstate consistently run television and radio advertisements. All the ads make an identical promise about savings if you change to their company. How does each company make almost identical claims?

All the different companies are able to cherry pick for the driver that makes them money. For example, a preferred risk could possibly be over the age of 40, has no driving citations, and drives newer vehicles. A driver who meets those qualifications receives the best rates and is almost guaranteed to save when switching.

Potential customers who don't qualify for these standards will be charged a higher premium and ends up with the driver buying from a lower-cost company. Company advertisements say "customers that switch" but not "drivers who get quotes" save that much. That's the way companies can truthfully claim big savings. That is why you should get a wide range of price quotes. It is impossible to predict which auto insurance company will give you the biggest savings.

Learn more about Virginia auto insurance

Even more information can be found at the Virginia Bureau of Insurance website. Virginia consumers can file complaints about a company, find out which companies have the most complaints, report car insurance fraud, and file complaints about an insurance agent or broker.

Other informative sites include NAIC.org's Understanding your Policy and this directory of insurance agents in Portsmouth Virginia.

Affordable insurance is out there

In this article, we presented some good ideas how you can save on auto insurance. It's most important to understand that the more you quote, the higher your chance of finding lower rates. You may even discover the lowest premiums are with some of the lesser-known companies. Some small companies may have significantly lower rates on certain market segments compared to the large companies like .

Cheap auto insurance can be sourced online and also from your neighborhood Portsmouth agents, and you need to comparison shop both to have the best rate selection. A few companies may not provide online price quotes and many times these regional insurance providers only sell through independent insurance agents.

When trying to cut insurance costs, make sure you don't buy poor coverage just to save money. There have been many cases where someone sacrificed physical damage coverage only to regret at claim time that it was a big mistake. Your goal should be to buy enough coverage at a price you can afford, not the least amount of coverage.