If you want to save money, the best way to get the cheapest car insurance rates is to compare prices once a year from providers who sell insurance in El Paso. You can compare prices by following these guidelines.
- Take a few minutes and learn about how insurance companies determine prices and the things you can control to keep rates down. Many rating criteria that result in higher prices such as high-risk driving behaviors and a poor credit rating can be amended by making small lifestyle or driving habit changes.
- Quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like Progressive and State Farm, while independent agencies can quote prices from multiple insurance companies.
- Compare the price quotes to your existing coverage and see if you can save money. If you can save money and decide to switch, make sure there is no coverage gap between policies.
- Tell your current company to cancel your current coverage. Submit any necessary down payment along with the completed application to your new insurance company. Once the paperwork is finalized, safely store the proof of insurance certificate in your vehicle.
The key thing to know about shopping around is that you'll want to make sure you compare identical deductibles and limits on each quote and and to compare as many different insurance providers as possible. This helps ensure an accurate price comparison and a better comparison of the market.
It's amazing but the majority of drivers kept their coverage with the same car insurance company for a minimum of four years, and roughly 40% of drivers have never compared rates from other carriers. American drivers could save roughly $860 a year, but they feel it's too difficult to compare other rate quotes.
If you have coverage now, you should be able to find the best rates using the concepts you're about to learn. Locating the most cost-effective auto insurance policy in El Paso is easy if you know what you're doing. Nevertheless, Texas car owners must understand how the larger insurance companies determine what you pay because rates are impacted by many factors.
Five factors that impact insurance premiums
Many factors are used when you quote your car insurance policy. Most are fairly basic such as your driving record, although others are less apparent such as your credit history or your vehicle rating.
The following are some of the factors used by companies to determine your prices.
- Women pay lower rates - Statistics show females are less aggressive when driving. However, don't assume that males are worse at driving than females. Men and women get in auto accidents at about the same rate, but the men tend to have higher claims. Men also statistically get ticketed for serious violations such as driving while intoxicated (DWI) or driving recklessly. Males from age 16 to 21 are several times more likely to be in an accident and are penalized with high insurance rates.
- Liability coverage limits are a factor - Your policy's liability coverage will afford coverage if you are found to be at fault for physical damage or personal injury to other. Your policy's liability insurance provides you with a defense in court starting from day one. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
- Good drivers pay better premiums - Having a clean driving record can have a huge impact on auto insurance premiums. Drivers who don't get tickets have lower premiums than people who have multiple driving citations. Getting just one speeding ticket may cause rates to rise by twenty percent. Drivers who have license-revoking citations like DWI, reckless driving or hit and run convictions may be required to prove financial responsibility with their state motor vehicle department in order to continue driving.
- More than one policy can earn a discount - Many companies provide discounts for people who carry more than one policy in the form of a multi-policy discount. The discount can be as much as ten percent or more Even if you already get this discount, you still need to comparison shop to ensure the best deal. You may still find lower rates even if you have your coverage with different companies
- Pleasure use or commuting - Driving a lot of miles every year the more you will pay for insurance. Many insurance companies calculate rates based on how the vehicle is used. Vehicles that do not get driven very much receive lower rates as compared to vehicles used primarily for driving to work. Having an incorrect usage rating on your Shelby GT350 may be wasting your money. Double check that your policy properly reflects annual mileage, because it can save money.
You may qualify for discounts for Ford Shelby GT350 insurance in El Paso
Insurance can be prohibitively expensive, but you might be missing out on some discounts that can help lower your rates. Some discounts will apply when you quote, but less common discounts must be inquired about prior to receiving the credit.
- Seat Belt Discounts - Buckling up and requiring all passengers to buckle up before driving could save 15% off the personal injury premium cost.
- Sign Online - A handful of companies give back up to $50 just for signing your application on their website.
- Accident Forgiveness Coverage - Not really a discount, but a handful of insurance companies will turn a blind eye to one accident before they charge you more for coverage as long as you don't have any claims for a certain period of time.
- Telematics Discount - Policyholders that allow their auto insurance company to monitor driving manner by using a small device installed in their vehicle such as Progressive's Snapshot and State Farm's In-Drive could possibly reduce rates if they exhibit good driving behavior.
- Defensive Driver Discounts - Taking part in a class that teaches safe driver techniques may get you a small discount and easily recoup the cost of the course.
- Own a Home and Save - Simply owning a home can save a few bucks since owning and maintaining a home shows financial diligence.
- Discounts for Multiple Vehicles - Buying a policy with all your vehicles on a single policy can reduce rates for all insured vehicles.
Don't be surprised that some of the credits will not apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like comprehensive or collision. Just because you may think it's possible to get free car insurance, companies don't profit that way. Any qualifying discounts should definitely cut your premiums.
Larger auto insurance companies and a partial list of their discounts are:
- State Farm includes discounts for good student, good driver, Drive Safe & Save, defensive driving training, and passive restraint.
- American Family offers premium reductions for good student, bundled insurance, multi-vehicle, TimeAway discount, early bird, and mySafetyValet.
- AAA has savings for pay-in-full, education and occupation, AAA membership discount, multi-policy, good student, anti-theft, and good driver.
- GEICO offers discounts for membership and employees, emergency military deployment, five-year accident-free, federal employee, and multi-policy.
- Mercury Insurance has discounts for age of vehicle, multi-car, location of vehicle, good driver, annual mileage, and type of vehicle.
- Farmers Insurance offers discounts including youthful driver, switch companies, electronic funds transfer, alternative fuel, and early shopping.
- Progressive policyholders can earn discounts including online quote discount, online signing, continuous coverage, multi-vehicle, and homeowner.
Before purchasing a policy, check with each insurance company which discounts you qualify for. Some credits may not apply to policies in El Paso. If you would like to see a list of insurers who offer cheap Ford Shelby GT350 insurance quotes in El Paso, click this link.
Smart shoppers get results
Cheaper car insurance in El Paso is attainable on the web as well as from independent agents in El Paso, so you should compare both to have the best rate selection. Some car insurance companies may not offer the ability to get quotes online and many times these smaller providers provide coverage only through local independent agencies.
When getting El Paso car insurance quotes online, don't be tempted to skimp on critical coverages to save a buck or two. Too many times, an insured dropped liability limits or collision coverage and discovered at claim time they didn't have enough coverage. The ultimate goal is to find the BEST coverage at the best price.
Additional information can be found below:
- Auto Insurance Basics (Insurance Information Institute)
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Vehicle Insurance (Wikipedia)