7 Methods to Save on Car Insurance in Prior Lake, MN

Having to pay for overpriced car insurance can empty your bank account and put a big crunch on your finances. Comparing price quotes is a smart way to slash your bill and have more diposable income.

Big companies like GEICO and Progressive persitently shower you with advertising and it can be hard to sift through the bull and find the best price available.

If you currently have car insurance, you stand a good chance to be able to reduce your rates substantially using these methods. Buying car insurance in Prior Lake is quite easy. Nevertheless, Minnesota car owners do need to know the way insurance companies compete online.

Take advantage of discounts

Properly insuring your vehicles can get expensive, but you can get discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you quote, but some may not be applied and must be asked for prior to getting the savings.

Government Employees - Employees or retirees of the government can earn a discount up to 10% with a few car insurance companies.
Distant Student - Children living away from home attending college and do not have access to a covered vehicle may qualify for this discount.
55 and Retired - If you're over the age of 55, you may be able to get better car insurance rates.
Anti-theft System - Anti-theft and alarm systems help deter theft and therefore earn up to a 10% discount.
Low Mileage Discounts - Fewer annual miles could qualify for lower rates on the low mileage vehicles.
Paperwork-free - Some insurance companies will give a small break simply for signing digitally online.
Service Members Pay Less - Having a deployed family member may qualify for rate reductions.

It's important to understand that most of the big mark downs will not be given to the overall cost of the policy. Most cut the price of certain insurance coverages like comp or med pay. Just because you may think you would end up receiving a 100% discount, it doesn't quite work that way. Any qualifying discounts will reduce your overall premium however.

To choose insurance companies who offer car insurance discounts in Prior Lake, follow this link.

Are car insurance companies telling the truth?

Car insurance providers like Progressive, Allstate and GEICO continually stream ads on TV and radio. They all say the same thing of big savings after switching to their company. How can each company make the same claim? This is how they do it.

Different companies have a preferred profile for the driver that makes them money. A good example of a driver they prefer could be a mature driver, insures multiple vehicles, and has great credit. Any new insured who fits that profile gets the lowest rates and most likely will save when they switch companies.

Potential customers who don't qualify for the requirements will be quoted a higher premium which usually ends up with business going elsewhere. The ads say "drivers who switch" not "people who quote" save that much. This is how insurance companies can confidently advertise the savings.

This emphasizes why you should compare as many rates as you can. It's just too difficult to predict which insurance companies will give you the biggest savings.

How to know if you need help

When buying coverage for your personal vehicles, there really is not a "perfect" insurance plan. Every insured's situation is different so your insurance needs to address that. These are some specific questions may help you determine whether your personal situation would benefit from professional advice.

Why am I required to get a high-risk car insurance policy?
Why does it cost so much to insure a teen driver in Prior Lake?
Should I put collision coverage on all my vehicles?
Am I covered if I drive in a foreign country?
Do I need special endorsements for business use of my vehicle?
Does my personal policy cover me when driving my company car?
Is my vehicle covered for flood damage?
Am I covered when delivering products for my home-based business?

If you don't know the answers to these questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you don't have a local agent, simply complete this short form or you can also visit this page to select a carrier

Additional car insurance information can be read on the website for the Minnesota Department of Commerce. Click here for link. Consumers can read industry bulletins, read enforcement actions against agents and companies, learn about insurance regulations, and download brochures.

Do the work, save more money

As you prepare to switch companies, it's a bad idea to buy poor coverage just to save money. There are too many instances where drivers have reduced full coverage and found out when filing a claim that the small savings ended up costing them much more. Your strategy should be to purchase plenty of coverage for the lowest price while still protecting your assets.

Low-cost car insurance can be bought from both online companies and also from your neighborhood Prior Lake agents, and you need to price shop both to have the best rate selection. There are still a few companies who may not provide online price quotes and these small insurance companies work with independent agents.