Proven Techniques to Save on Silver Lake Auto Insurance

Expensive auto insurance can dwindle your savings account and force you to prioritize other expenses. Comparison shopping is a great way to slash your bill and have more diposable income.

Online insurance companies like State Farm, Allstate, GEICO and Progressive promote their brand names with fancy advertisements and it is difficult to sift through the bull and do the work needed to find the best deal.

How to Lower your Auto Insurance Rates

Consumers need to have an understanding of the factors that come into play when calculating the price you pay for auto insurance. Having a good understanding of what impacts premium levels empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.

The list below includes some of the factors used by your company to calculate prices.

Lower rates with optional equipment - Purchasing a vehicle with anti-theft technology or alarm system can help bring down rates. Anti-theft devices like LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system all aid in stopping auto theft.
Drive less and save money - The more you drive in a year's time the higher your rate. Almost all companies apply a rate based upon how you use the vehicle. Cars used primarily for pleasure use can get a lower rate compared to those used for work or business. Double check that your auto insurance policy is rated on the correct driver usage, because it can save money.
Rates may be higher depending on your occupation - Careers like doctors, social workers and dentists have the highest average rates in part from high stress levels and long work days. Other occupations like pilots, historians and the unemployed get better rates.
Choose a safe vehicle and save - Vehicles with high crash test scores get lower rates. The safest vehicles protect occupants better and lower injury rates translates into savings for insurance companies and more competitive rates for policyholders.
Extra coverages can waste money - There are a lot of add-on coverages that can waste your money on your auto insurance policy. Insurance for vanishing deductibles, accident forgiveness and additional equipment coverage are some examples. These may sound like a good investment when talking to your agent, but now you might not need them so eliminate the coverages to reduce your premium.

How much can you save with discounts?

Companies that sell car insurance don't always advertise every discount in a way that's easy to find, so here is a list both well-publicized and the harder-to-find discounts you could be receiving.

Pay Upfront and Save - By paying your policy upfront instead of making monthly payments you could save up to 5%.
Discount for New Cars - Buying coverage on a new vehicle can cost up to 25% less because new vehicles have to meet stringent safety requirements.
Claim Free - Drivers who don't have accidents can earn big discounts when compared to accident-prone drivers.
Drivers Ed for Students - Cut your cost by having your teen driver successfully complete driver's ed class in high school.
Low Mileage Discounts - Keeping the miles down can qualify you for a substantially lower rate.
Organization Discounts - Participating in a civic or occupational organization may earn a discount when shopping for auto insurance.

As a disclaimer on discounts, some credits don't apply to your bottom line cost. Some only apply to the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like adding up those discounts means a free policy, auto insurance companies aren't that generous.

To choose insurance companies with the best auto insurance discounts in Silver Lake, click here.

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

Auto insurance providers like State Farm, Allstate and GEICO regularly use television and radio advertisements. They all have a common claim about savings if you move your coverage to them. How can each company make almost identical claims? This is how they do it.

Insurance companies have a preferred profile for the type of customer that makes them money. An example of a driver they prefer could possibly be a mature driver, has no prior claims, and has great credit. A driver that hits that "sweet spot" will qualify for the lowest rates and is almost guaranteed to save when they switch companies.

Potential insureds who don't meet the requirements will be quoted more money and this can result in the driver buying from a lower-cost company. The ad wording is "drivers who switch" but not "drivers who get quotes" save that much money. This is how companies can truthfully advertise the savings. This emphasizes why you should get quotes from several different companies. It is impossible to predict which insurance companies will give you the biggest savings.

How much car insurance do I need?

When buying proper insurance coverage for your personal vehicles, there really is not a one size fits all plan. Every insured's situation is different and your policy should reflect that. For example, these questions can help discover if your insurance needs would benefit from professional advice.

Are my tools covered if they get stolen from my vehicle?
Can I still get insurance after a DUI?
What companies insure drivers after a DUI or DWI?
Is rental equipment covered for theft or damage?
Is my nanny covered when driving my vehicle?
Are rental cars covered under my policy?
Is my vehicle covered for flood damage?

If you can't answer these questions, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier

Learn more about auto insurance in Wisconsin

Even more information is available at the Wisconsin Office of the Commissioner of Insurance website. Wisconsin consumers can view a list of available companies, file complaints about an insurance agent or broker, read industry bulletins, and find disaster information.

Do the work, save more money

As you prepare to switch companies, it's not a good idea to buy poor coverage just to save money. There have been many situations where consumers will sacrifice liability limits or collision coverage only to find out that the small savings ended up costing them much more. The proper strategy is to get the best coverage possible for the lowest price while still protecting your assets.

Cheap auto insurance is definitely available online as well as from independent agents in Silver Lake, and you need to price shop both in order to have the best chance of saving money. There are still a few companies who don't offer online price quotes and these smaller companies work with independent agents.