Silver Lake Car Insurance For Less Than You're Paying Now

Finding lower rates for Silver Lake car insurance is a challenge for beginners to comparing rates online. People have so many options that it can be a big hassle to compare prices in Silver Lake.

Don't pay full price with these discounts

Companies that sell car insurance don't list every discount in a way that's easy to find, so here is a list some of the more common and the more hidden discounts you could be receiving.

No Accidents - Claim-free drivers can earn big discounts when compared to bad drivers.
Service Members Pay Less - Being deployed with a military unit could mean lower rates.
Multiple Policy Discount - When you combine your home and auto insurance with the same insurance company you will save at least 10% off all policies.
Employee of Federal Government - Being employed by or retired from a federal job could cut as much as 10% off with a few car insurance companies.
Good Students Pay Less - A discount for being a good student can earn a discount of 20% or more. The discount lasts until age 25.
Paperwork-free - A few companies will give a small break for buying your policy digitally online.

As a disclaimer on discounts, some of the credits will not apply to the entire cost. The majority will only reduce the cost of specific coverages such as comp or med pay. So even though they make it sound like adding up those discounts means a free policy, car insurance companies aren't that generous.

To see a list of insurance companies offering car insurance discounts in Silver Lake, click here.

Compare the Market for Car Insurance in Silver Lake

There are multiple methods you can shop for car insurance and some are more efficient than others. You can waste a lot of time driving to agents in Silver Lake, or you can utilize the internet to get rate comparisons in just a few minutes.

Many insurance companies enroll in a system that enables customers to submit one quote, and at least one company returns a competitive quote. This prevents consumers from doing repetitive form submissions to each individual car insurance company. To submit your quote information now, click to open in new window.

The only downside to getting quotes like this is you can't choose which carriers to get quotes from. So if you want to select from a list of companies for rate comparison, we put together a list of low cost car insurance companies in Minnesota. Click here for list of insurance companies in Minnesota.

However you get your quotes, double check that you are using exactly the same coverage limits and deductibles for each comparison quote. If you are comparing different liability limits it will be impossible to determine the lowest rate in Silver Lake. Slightly different coverages may cause a big price difference. It's important to know that obtaining a wide range of quotes will improve the odds of getting the best rates.

Good Decisions Result in Lower Rates

An important part of buying insurance is that you know the factors that go into determining your car insurance rates. Having a good understanding of what impacts premium levels enables informed choices that will entitle you to much lower annual insurance costs.

Listed below are some of the factors car insurance companies consider when setting prices.

Your job and insurance rates - Did you know your job can affect your rates? Careers like doctors, social workers and dentists tend to have the highest average rates attributed to high stress levels and long work days. Other jobs such as farmers, historians and homemakers receive lower rates.
Optional equipment can affect rates - Driving a car that has an advanced theft prevention system can help bring down rates. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder auto theft.
How many coverages with the same company - Most insurance companies provide better rates to policyholders who buy several policies from them such as combining an auto and homeowners policy. Discounts can be 10 percent or more. Even if you're getting this discount you may still want to compare rates to ensure the best deal. You may still be able to find better rates by insuring with multiple companies.
Claim-free discounts can add up - If you tend to file frequent claims, you can definitely plan on either policy cancellation or increased premiums. Companies in Minnesota generally give cheaper rates to insureds who are claim-free. Your insurance policy is meant to be used in the event of major claims that would cause financial hardship.
How's your driving record? - A bad driving record has a huge affect on how much you pay. Careful drivers receive lower rates than bad drivers. Even a single moving violation can boost insurance rates by twenty percent. If you have serious violations such as reckless driving, hit and run or driving under the influence may find they need to file a proof of financial responsibility form (SR-22) with their state motor vehicle department in order to continue driving.
Being married is a good thing - Being married can actually save you money on car insurance. Having a significant other means you're more responsible and it's statistically proven that drivers who are married are more cautious.
The more you drive the more you pay - The more miles you rack up on your car every year the higher your rate. Most insurance companies rate vehicles based upon how you use the vehicle. Cars used primarily for pleasure use can get a lower rate as compared to vehicles used primarily for driving to work. Double check that your car insurance policy is rated on how each vehicle is driven, because it can save money.

The car insurance bait and switch

Car insurance providers like Progressive, Allstate and GEICO constantly bombard you with ads in print and on television. They all have a common claim about savings if you switch to their company. How can each company make the same claim?

Insurance companies can use profiling for the driver that is profitable for them. An example of a driver they prefer could be between the ages of 30 and 50, has no tickets, and has excellent credit. A customer that hits that "sweet spot" gets the lowest rates and therefore will save when they switch companies.

Consumers who don't measure up to the requirements will be quoted higher prices and this can result in business going elsewhere. Company advertisements say "people who switch" not "everyone that quotes" save that much. That's why companies can truthfully make those claims. This emphasizes why drivers must get quotes from several different companies. Because you never know the company that will have the lowest rates.

Final considerations

Drivers switch companies for many reasons like high rates after DUI convictions, unfair underwriting practices, policy non-renewal or extreme rates for teen drivers. Regardless of your reason, finding the right car insurance provider is actually quite simple.

While you're price shopping online, it's a bad idea to reduce coverage to reduce premium. There are too many instances where an insured dropped liability limits or collision coverage only to find out they didn't purchase enough coverage. Your strategy should be to buy the best coverage you can find at an affordable rate while still protecting your assets.

We just showed you a lot of techniques to compare car insurance prices online. The key thing to remember is the more price quotes you have, the better chance you'll have of finding lower rates. You may be surprised to find that the lowest rates come from an unexpected company.

More Minnesota car insurance information

Even more information is available at the Minnesota Department of Commerce website. Consumers can read industry bulletins, view a list of available companies, and read consumer alerts.