The best way we recommend to get more affordable car insurance rates is to annually compare prices from providers in Tampa.
First, try to learn a little about policy coverages and the factors you can control to prevent rate increases. Many things that result in higher prices such as accidents, traffic tickets, and an unacceptable credit rating can be controlled by making minor changes in your lifestyle. Continue reading for tips to prevent high prices and get additional discounts that may have been overlooked.
Second, obtain price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from a single company like Progressive or Farmers Insurance, while agents who are independent can quote rates from multiple companies.
Third, compare the new quotes to your existing coverage to see if cheaper Grand Prix coverage is available. If you find better rates and make a switch, make sure there is no coverage gap between policies.
An important note is to make sure you’re comparing the same level of coverage on each quote and and to get prices from as many car insurance companies as possible. This guarantees a fair price comparison and a thorough price selection.
It’s an obvious statement that insurance companies don’t want policyholders to shop around. Consumers who compare price quotes will probably switch to a new company because they have a good chance of finding a lower-cost company. A survey found that people who regularly shopped around saved approximately $3,500 over four years compared to drivers who never compared other company’s rates.
If finding the lowest rates on insurance in Tampa is your ultimate target, then understanding how to shop for auto insurance can help you succeed in saving money.
Finding the cheapest car insurance coverage in Tampa is actually quite simple. If you’re already insured, you stand a good chance to be able to save money using this strategy. Nevertheless, Florida consumers must comprehend the way companies calculate their prices and use it to find better rates.
Pontiac Grand Prix Insurance Cost Factors
An important part of buying insurance is that you know some of the elements that come into play when calculating auto insurance rates. If you understand what impacts premium levels, this allows you to make good choices that can earn you much lower annual insurance costs. Many factors are taken into consideration when premium rates are determined. Most are fairly basic such as your driving record, but some are less obvious such as your credit history or your vehicle rating.
Listed below are a few of the “ingredients” that factor into your rates.
- Premiums are lower the older you get – Teen drivers in Florida tend to be easily distracted in a vehicle so they pay higher auto insurance rates. Adding a inexperienced driver to your policy can be very expensive. Mature drivers are more responsible, tend to cause fewer accidents, and are generally more financially stable.
- Do you really need to file those auto insurance claims? – If you are a frequent claim filer, you should expect much higher rates or policy non-renewal. Companies in Florida provide most affordable rates to policyholders who are not frequent claim filers. Insurance coverage is intended to be relied upon for larger claims.
- Vehicle risk affects prices – The make and model of the vehicle you drive makes a big difference in your auto insurance rates. Smaller low performance passenger models generally receive the lowest base rates, but other factors influence the final cost greatly.
- Discounts for alarm systems – Owning a car with anti-theft technology or alarm system can help lower your premiums. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system all hinder your vehicle from being stolen.
- Never let your coverage expire – Letting your insurance expire can be a quick way to increase your renewal premiums. Not only will you pay higher rates, failure to provide proof of insurance may result in a revoked license or a big fine. You may have to file a SR-22 with the Florida motor vehicle department to get your license reinstated.
Auto insurance quotes and discounts
Auto insurance is expensive, but there could be significant discounts that can drop the cost substantially. Some trigger automatically at the time of quoting, but a few need to be specially asked for before they will apply.
- Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn lower rates if you buy life insurance from them.
- Discounts for Federal Employees – Employees or retirees of the government could cut as much as 10% off with certain companies.
- Discounts for Cautious Drivers – Drivers who don’t get into accidents can get discounts for up to 45% lower rates compared to rates paid by drivers with frequent claims.
- Paper-free Discount – A few auto insurance companies will provide an incentive get Tampa car insurance digitally online.
- Air Bags and Passive Restraints – Factory air bags and/or automatic seat belt systems may qualify for discounts of 25 to 30%.
- Anti-theft System – Cars and trucks equipped with tracking devices and advanced anti-theft systems have a lower chance of being stolen and will qualify for a discount on a Tampa car insurance quote.
- Safety Restraint Discount – Using a seat belt and requiring all passengers to buckle up before driving could cut 10% or more off the medical payments premium.
One last thing about discounts, most discount credits are not given to the whole policy. A few only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you could get a free auto insurance policy, insurance companies wouldn’t stay in business.
A partial list of companies that have these money-saving discounts include:
Double check with all the companies which discounts can lower your rates. Depending on the company, some discounts may not be available in every state.
Affordable auto insurance premiums are possible
As you shop your coverage around, don’t be tempted to reduce coverage to reduce premium. In many instances, drivers have reduced physical damage coverage to discover at claim time that the savings was not a smart move. Your aim should be to buy enough coverage at the best possible price but still have enough coverage for asset protection.
Cheaper auto insurance in Tampa can be found both online as well as from independent agents in Tampa, and you need to price shop both in order to have the best chance of saving money. Some auto insurance companies may not have internet price quotes and many times these regional carriers provide coverage only through independent insurance agents.
Other resources
- Understanding your Policy (NAIC.org)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Neck Injury FAQ (iihs.org)