Tightwads Tips for Saving on Wykoff Auto Insurance

Did you fall for a flashy sales pitch and buy an underperforming, overpriced auto insurance policy? Believe me when I say you're not alone. Drivers have multiple to pick from, and although it's a good thing to be able to choose, it can be more challenging to compare rates.

It's important to compare prices every six months because prices are constantly changing. Despite the fact that you may have had the best price last year you can probably find a better price now. Block out anything you think you know about auto insurance because we're going to demonstrate one of the best ways to properly buy coverages while reducing your premium.

This information will help educate you on how to effectively get price quotes and some tips to save money. If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using this information. Minnesota consumers only need to know the most effective way to compare company rates over the internet.

Good Decisions Result in Lower Rates

Consumers need to have an understanding of some of the elements that help determine the rates you pay for auto insurance. Knowing what impacts premium levels enables informed choices that can help you get much lower annual insurance costs.

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

Cautious drivers pay less - Your driving record has a lot to do with how much you pay for insurance. Careful drivers get better rates compared to drivers with tickets. Just one moving violation can boost insurance rates forty percent or more. Drivers who get flagrant 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 to the state department of motor vehicles in order to keep their license.
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 would be collision with another vehicle, damage from fire, or theft. Your deductibles are the amount of money you are required to spend 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.
With age comes lower rates - Youthful drivers in Minnesota are known to be less responsible when behind the wheel so they pay higher auto insurance rates. Older insureds tend to be more responsible, statistically cause fewer accidents and are safer drivers.
Please use or commuting - Driving more miles in a year the higher your rates will be. Most insurance companies charge to insure your cars based upon how you use the vehicle. Vehicles used primarily for pleasure use qualify for better rates compared to those used for work or business. Double check that your auto insurance coverage shows the proper vehicle usage.
Your spouse saves you money - Having a spouse can get you a discount when buying auto insurance. Marriage means you're more responsible and statistics show being married results in fewer claims.
Men pay higher rates - Statistics demonstrate that women are safer drivers than men. However, this does not mean men are worse drivers. Both sexes have accidents in similar percentages, but men have costlier accidents. Men also get cited for more serious violations like DUI and reckless driving. Youthful male drivers are the most expensive to insure and are penalized with high auto insurance rates.

Be sure to get all your discounts

Car insurance can cost a lot, but you can get discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you purchase, but a few need to be asked for before being credited. If you're not getting every credit possible, you are paying more than you should be.

Discount for Good Grades - This discount can earn a discount of 20% or more. This discount can apply well after school through age 25.
Multiple Vehicles - Buying insurance for multiple vehicles with the same company can get a discount on all vehicles.
Resident Student - Children who attend school more than 100 miles from home and do not have access to a covered vehicle can receive lower rates.
Discount for Life Insurance - Companies who offer life insurance give a discount if you purchase life insurance.
E-sign - A few companies may give you up to $50 for buying your policy over the internet.
Senior Citizens - If you're over the age of 55, you may be able to get better auto insurance rates.
Driver Safety - Successfully completing a defensive driving course could possibly earn you a 5% discount if your company offers it.

A little note about advertised discounts, most credits do not apply to all coverage premiums. Most only reduce specific coverage prices like medical payments or collision. So when the math indicates adding up those discounts means a free policy, you won't be that lucky. Any amount of discount will bring down the amount you have to pay.

To choose providers who offer auto insurance discounts in Minnesota, follow this link.

Is there truth in advertising?

Consumers in Minnesota can't ignore all the ads that promise big savings by State Farm and Allstate. All the ads say the same thing about savings after switching to their company.

How does each company claim to save you money? It's all in the numbers.

Insurance companies are able to cherry pick for the driver that makes them money. For example, a preferred risk might be a mature driver, has no driving citations, and has great credit. A customer getting a price quote who fits that profile will get the preferred rates and is almost guaranteed to save when switching.

Consumers who don't measure up to these standards will be charged higher prices which usually ends up with the customer not buying. The ads state "customers who switch" but not "drivers who get quotes" save that much. That's the way companies can truthfully advertise the savings.

That is why you should get quotes from several different companies. It's impossible to know which auto insurance company will give you the biggest savings.

Learn more about Minnesota auto insurance

Additional information can be found on the website for the Minnesota Department of Commerce found here. Visitors are able to file complaints about a company, report car insurance fraud, read enforcement actions against agents and companies, 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 Wykoff Minnesota.

A tidy conclusion

We covered a lot of tips how to save on auto insurance. The most important thing to understand is the more you quote, the more likely it is that you will get a better rate. Consumers could even find that the best price on auto insurance is with a small mutual company. Some small companies may cover specific market segments cheaper compared to the large companies like .

The cheapest auto insurance can be bought both online and also from your neighborhood Wykoff agents, and you need to price shop both in order to have the best price selection to choose from. There are still a few companies who may not provide online price quotes and many times these regional insurance providers only sell through independent insurance agents.

As you prepare to switch companies, 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 the small savings ended up costing them much more. Your goal should be to get the best coverage possible at the best price, not the least amount of coverage.