It is rare that anyone thinks they are paying too little for their auto insurance, but the good news is, with a little knowledge and effort, you may be able to lower that premium. Here are a few tips on how you might start.
1. Start Shopping
A study conducted by The Office of Public Insurance Counsel (OPIC) supports the idea that shopping your insurance policy can yield savings. The agency’s Executive Director, Deeia Beck said, “according to our data, the longer a policyholder stays with the same company, the more likely it is that they are overcharged.” The study indicates that policyholders who have been with the same company for more than eight years could save over 19% on their annual auto premiums by switching to a new company. Mrs. Beck said, “This would mean annual savings of at least $194 for the average full coverage Texas auto premium.”
Whether you are a new or current client, Northside Insurance in Fort Worth Texas can shop among the dozens of insurance companies and programs we have available for your auto insurance. Call us today at (817) 626-3100 for a fast free quote.
2. Make sure you ask about discounts
Texas auto insurance companies use a variety of factors to arrive at the rate they will charge you, and certain factors allow them to give you a discount on your auto insurance. Below are some of the discounts available with various insurance companies. Make sure your agent takes the time to understand your account so that he gets you all the discounts you are entitled to.
Prior Insurance Discount
If you’ve been continuously insured for 6 months or more, most insurance companies will offer big savings over their rates for people with no prior coverage. Additionally, if you’ve been with your current carrier for more than a year, many insurance companies will further discount their rates in order to attract your business. When getting a quote, be sure to tell the agent how long you have had insurance, and how long you have been with your current insurance company.
Home Ownership Discount
Are you buying your home? Most auto insurance carriers will give you a discount even if you don’t insure your home with them. Make sure you tell your agent if you are a home owner.
Multi Car Discount
Do you own more than one vehicle? It pays to put all your vehicles on one policy. Most auto insurance carriers give a discount when you insure more than one vehicle with them.
Paid In Full Discount
Can you pay 6 months in full? Many insurance companies will give you a discount for paying in full instead of on monthly installments.
Electronic Funds Transfer Discount
If you prefer monthly payments, you may still be able to realize substantial savings if you have a checking account and have the insurance company draft your monthly installments directly each month. Ask your agent if they have an
Advanced Quoting Discount
It pays to shop in advance for your auto insurance. Some insurance companies will give you a discount if you get your quote at least 8 days before your current policy expires. Make sure you tell your agent when your current policy expires when you call for a quote to see if this discount is available.
Can you receive correspondence by email or access through the internet? Some insurance companies will discount your auto insurance policy.
Increased Limits Discount
When calling for quotes, make sure you tell the agent if you carry liability limits higher than the Texas state minimum limits (30/60/25). Many insurance companies offer a discount when you have carried higher liability limits.
Educational Level Discount
Progressive Insurance offers various discount levels for having gone to college. Tell your agent about your educational level. Even if you don’t have a degree, you can still get a discount for having taken college courses. Northside Insurance Agency in Fort Worth, Texas is a Progressive Authorized Independent Agent.
Snapshot is a Pay As You Drive program, a type of usage-based insurance. That means that we look at how you drive and reward you with a discount if you’re a safe driver. SNAPSHOT is offered by Progressive Insurance.
Here’s how it works: Progressive will send you the Snapshot device in the mail. Plug the device into your car and drive to share information about how you drive, how much you drive, and when you drive with Progressive. Safe drivers could be rewarded with a discount up to 30 percent. There is no risk of your rate increasing from Snapshot.
For more information on Snapshot by Progressive click – Frequently Asked Questions About Snapshot.
If you would like a quote or to see if Snapshot might save you money, call Northside Insurance Agency at (817) 626-3100. Northside Insurance Agency is a Progressive Authorized Independent Agent. serving Fort Worth and North Texas.
* These discounts apply to Texas personal auto policies only. Not all insurance companies offer all the discounts. This is merely a brief summary of some discounts which may be available.
3. Review your coverages.
If you have an older car, it may no longer make sense to cover it for collision. If you are carrying low deductibles, see how much it saves you to raise them. If you are carrying rental reimbursement and own several vehicles, it may not make sense to carry rental reimbursement. Ask your agent to review your current coverages with you.
4. Update your information
If you no longer use a vehicle to drive to and from work, you may need to have it re-classified as a pleasure vehicle. If you or a family member has completed a driver safety course, or it has been more than three years since a ticket or accident let your agent know. If you completed a degree, started college, or your child has good grades, you may also be able to save money.
Call Northside Insurance Agency in Fort Worth Texas at (817) 626-3100 to discuss your auto insurance. We will be happy to provide a fast free quote for you to compare with your current coverage. It only takes a few minutes and may save you money.