Are you drained from paying out the nose to pay auto insurance each month? You are no different than the majority of other consumers. Lots of auto insurance companies contend for your business, and because of this it can be hard to compare insurers and uncover the absolute best price available.
If you currently have a car insurance policy, you should be able to save some money using this strategy. Finding the best rates is not rocket science. Although drivers do need to understand how big insurance companies price online insurance because it can help you find the best coverage.
Verify you’re applying every discount
The cost of insuring your cars can be expensive, but there could be significant discounts that you may not even be aware of. Many of these discounts will be applied automatically when you purchase, but less common discounts must be asked about prior to getting the savings.
- Driving Data Discount – Policyholders that allow companies to look at their driving habits by installing a telematics device such as Drivewise from Allstate or Snapshot from Progressive may see discounts if they show good driving skills.
- Distant Student – Kids who attend college more than 100 miles from home and won’t have access to an insured vehicle may qualify for this discount.
- Driver Safety – Taking time to complete a class that teaches defensive driver techniques could earn you a small percentage discount and also improve your driving technique.
- Driver’s Education for Students – Cut your cost by having your teen driver enroll and complete driver’s education as it will make them better drivers and lower rates.
- Good Driver Discounts – Drivers who avoid accidents can save as much as half off their rates on Tribute insurance as compared to drivers with claims.
- Bundled Policy Discount – If you have multiple policies and place coverage with the same company you may earn at least 10% off all policies.
A quick disclaimer, some of the credits will not apply to the entire cost. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. So when the math indicates all the discounts add up to a free policy, that’s just not realistic. But all discounts will lower your policy cost.
For a list of auto insurance companies that can offer you the previously mentioned discounts, click here to view.
Learn How to Lower Your Insurance Premiums
Lots of things are considered when premium rates are determined. A few of the factors are predictable such as your driving history, but some are more obscure such as whether you are married or your vehicle rating.
- Policy add-ons add up – There are quite a few additional coverages that can add up but may not be useful. Coverages like roadside assistance, towing coverage, and extra equipment coverage may not be needed and are just wasting money. You may think they are a good idea initially, but if you don’t need them remove them and pocket the money.
- Better rates on safer vehicles – Cars with high safety ratings can get you lower premiums. These vehicles reduce occupant injuries and lower injury rates means less money paid by your insurance company and cheaper rates on your policy. If your Mazda scored better than four stars on Safercar.gov or an “acceptable” rating on iihs.org you may qualify for a discount.
- High premiums for teen drivers – Teenage drivers tend to be careless and easily distracted behind the wheel therefore auto insurance rates are much higher. More mature drivers are proven to be safer behind the wheel, file fewer claims , and usually have better credit.
- Good credit saves on auto insurance – Credit score will be a significant factor in determining what you pay. If your credit is not that good, you could potentially save money when insuring your Mazda Tribute if you improve your credit rating. Drivers who have good credit tend to be better risks to insure as compared to drivers with poor credit scores.
- Cautious drivers pay the best costs – Even a single chargable violation can bump up the cost by as much as twenty percent. Careful drivers get better rates as compared to those with violations. Drivers unfortunate enough to have multiple tickets like DUI or willful reckless driving might be required by their state to submit a SR-22 form to the state department of motor vehicles in order to drive a vehicle legally.
- Premiums may be lower depending on your employer – Jobs like military generals, social workers and accountants tend to pay the highest rates because of intense work situations and lots of time spent at work. On the other hand, occupations like professors, students and homemakers have lower than average premiums on Tribute insurance.
- Never let your coverage expire – Driving any period of time without insurance is against the law and any future policy may cost more because you let your insurance lapse. Not only will you pay higher rates, being ticketed for driving with no insurance could earn you a steep fine or even jail time.
- Raising deductibles saves money – Insurance for physical damage, also called comprehensive and collision insurance, insures against damage to your Mazda. Some instances where coverage would apply would be colliding with a building, damage caused by hail, and burglary. Comprehensive and collision coverage deductibles define how much the insured will be required to pay before your auto insurance pays a claim. The more money you pay before a claim is paid (deductible), the less your company will charge you for insurance on Tribute insurance.
Do I need an agent?
A small number of people still like to talk to a local agent and that is a personal choice. A nice benefit of getting free rate quotes online is the fact that you can find lower rates and still have a local agent. Putting coverage with small agencies is important especially .
To help locate an agent, after submitting this form (opens in new window), your insurance data is sent to agents in your area that provide for your coverage. It makes it easy because there is no need to contact any agents since rate quotes are delivered to your email. You can most likely find cheaper rates and an insurance agent to talk to. If you want to compare prices from one company in particular, you just need to jump over to their website and fill out the quote form the provide.
If you want a reputable insurance agent or broker, it’s important to understand the different types of agents and how they can service your needs differently. Agents are classified as either independent agents or captive agents depending on their employer.
Independent Agencies or Brokers
Agents that elect to be independent are not locked into one company and that gives them the ability to insure with lots of companies and find the cheapest rate. If they find a cheaper price, the agent simply finds a different carrier without you having to go to a different agency.
When searching for an agent, you should always get insurance quotes from at least one independent agent to maximize your price options.
Captive Auto Insurance Agents
Agents that elect to be captive can only provide pricing for a single company like Allstate, AAA, Farmers Insurance, and State Farm. They generally cannot provide rate quotes from other companies so they have to upsell other benefits. They are well trained on their products and sales techniques and that allows them to sell at a higher price point.
To view agents in your area, please link to this full listing of auto insurance providers in your state.
Finding the right auto insurance agent should include more criteria than just a cheap price quote. Here are some questions you should ask.
- How long has the business existed?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- What is the agency’s Better Business Bureau rating?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Do they feel the quoted coverages are adequate?
- Which companies do they recommend if they are an independent agency?
Can you really save that much by switching?
Big name companies like State Farm, Allstate and GEICO constantly bombard you with ads on TV and radio. They all seem to say the same thing that people will save if you just switch your auto insurance coverage to their company. How is it possible that every company can have lower policy pricing?
Auto insurance companies quote their best rates for the type of customer that earns them the most money. One example of this type of driver might have to be over the age of 45, has a clear driving record, and has excellent credit. Anybody who fits those characteristics will get the preferred rates and will probably pay quite a bit less when switching companies.
People who do not fit this stringent profile may be required to pay higher prices and the customer buying from a different company. If you listen closely, the ads state “people who switch” but not “everyone who gets a quote” save that much when switching. That’s the way insurance companies can lure you into getting a quote.
Different companies use different criteria so it is so important to compare many company’s premium rates. It is just not possible to predict which company will provide the lowest car insurance rates.
Don’t give up on cheaper premiums
The cheapest Mazda Tribute insurance can be sourced from both online companies and also from your neighborhood agents, and you should compare rates from both to have the best chance of lowering rates. Some auto insurance companies may not provide online rate quotes and most of the time these smaller providers prefer to sell through independent insurance agents.
As you restructure your insurance plan, never reduce needed coverages to save money. Too many times, consumers will sacrifice physical damage coverage to discover at claim time that it was a big error on their part. Your strategy should be to purchase plenty of coverage at the best possible price, not the least amount of coverage.
