7 Ways to Save Money on Car Insurance in Troy

Having to pay for overpriced car insurance can empty your savings account and put a big crunch on your finances. Comparison shopping is a smart way to help make ends meet. There is such a variety of auto insurance companies to insure vehicles with, and although it’s nice to have a selection, so many choices can make it hard to find the best rates for your vehicles.

Consumers should take time to compare prices once or twice a year because insurance rates are adjusted regularly by insurance companies. Despite the fact that you may have had the lowest rates a couple years back you will most likely find a better rate today. There is too much inaccurate information about car insurance on the web, but I’m going to show you some tested techniques to slash your car insurance rates.

Troy Car Insurance Quote Comparison

Reducing your insurance rates can be relatively painless. Consumers just need to spend a few minutes on the computer comparing rates from different insurance companies. It is quite easy and can be accomplished in just a few minutes using one of these methods.

The fastest way consumers can analyze rates is an all-inclusive rate comparison (click to open form in new window). This form saves time by eliminating separate forms to each individual car insurance company. A single, simple form gets you coverage quotes from multiple companies.

A more difficult way to shop for car insurance online requires a visit to each company’s website and fill out their own quote form. For instance, we’ll assume you want comparison quotes from USAA, GEICO and State Farm. To get each rate you have to go to every website and enter your information, which is why the first method is more popular.

For a list of links to companies insuring cars in Troy, click here.

The most time-consuming method to get comparison rates to insurance agents’ offices. Shopping for car insurance online makes this process obsolete unless you require the trained guidance of a licensed agent. However, consumers can price shop online and still use a local agent and we’ll talk about that later.

It’s up to you how you get prices quotes, just make absolute certain that you use exactly the same coverage limits and deductibles for every quote you compare. If each company quotes different limits and deductibles on each one it will be next to impossible to determine the lowest rate in Troy.

The fine print in car insurance ads

Consumers constantly see and hear ads for cheaper car insurance from the likes of State Farm and Allstate. All the ads have a common claim about savings if you change your coverage to them.

How can each company make the same claim? It’s all in the numbers.

Insurance companies have a certain “appetite” for the type of driver that is profitable for them. An example of a driver they prefer might be over the age of 50, insures multiple vehicles, and has great credit. A customer that hits that “sweet spot” gets the lowest rates and most likely will cut their rates substantially.

Drivers who are not a match for this ideal profile will be quoted a higher premium which leads to the customer not buying. The ads say “customers that switch” but not “drivers who get quotes” save that much money. That’s the way insurance companies can claim big savings. This emphasizes why drivers must compare many company’s rates. It’s impossible to know which car insurance company will give you the biggest savings.

Lots of discounts mean lots of savings

Companies that sell car insurance do not list all their discounts very clearly, so we break down some of the best known and the more hidden savings tricks you should be using. If you’re not getting every credit you qualify for, you’re paying more than you need to.

Sign Online – A handful of insurance companies give back up to $50 simply for signing digitally online.
Multiple Vehicles – Buying insurance for multiple vehicles with the same company could earn a price break for each car.
Discount for Good Grades – This discount can earn a discount of 20% or more. This discount can apply up until you turn 25.
No Accidents – Claim-free drivers can earn big discounts as compared to frequent claim filers.
New Vehicle Savings – Adding a new car to your policy can be considerably cheaper compared to insuring an older model.
Braking Control Discount – Cars that have steering control and anti-lock brakes are safer to drive and therefore earn up to a 10% discount.
Passive Restraints – Cars that have air bags may earn rate discounts of more than 20%.

A little note about advertised discounts, most discounts do not apply to the entire cost. Most cut the cost of specific coverages such as liability and collision coverage. Just because you may think you can get free auto insurance, car insurance companies aren’t that generous.

But don’t I need an insurance agent?

A small number of people would prefer to sit down with an agent and that is OK! Insurance agents can answer important questions and give you peace of mind. The biggest benefit of price shopping on the web is the fact that you can find the best rates and still choose a local agent.

After completing this quick form, your information is immediately sent to participating agents in Troy who will return price quotes for your coverage. There is no reason to leave your house since price quotes are sent to the email address you provide. It doesn’t get any easier!

Deciding on an insurer should depend on more than just a low price. Agents should be asked these questions:

Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
Will vehicle repairs be made with aftermarket parts or OEM replacement parts?
Does the agency support the community they serve?
If you have an accident, will your rates go up?
Does the agency have a good rating with the Better Business Bureau?
Does the company allow you to choose your own collision repair facility?
Is assistance available after office hours?
Do they have any clout with companies to ensure a fair claim settlement?

The type of car insurance agent you choose is important

When finding an insurance agent, you need to know there are two different agency structures that differ in how they can insure your vehicles. Troy agents are either independent (non-captive) or captive. Both properly insure your vehicles, but it’s good to learn how they are different because it can impact your selection of an agent.

Captive Insurance Agents

This type of agents have only one company to place business with and examples are AAA, State Farm, Farmers Insurance and Allstate. Captives cannot provide prices from multiple companies so they are skilled at selling on more than just price. They are very knowledgeable on the products they sell which helps them compete with independent agents.<img class="alignright" style="padding-top:15px;" src="https://www.findnewcarinsurance.com/wp-content/uploads/ci175-49.jpg" alt="Troy Michigan car insurance prices”/>

The following is a list of captive insurance agents in Troy that are able to give rate quotes.

Allstate Insurance – 2838 E Long Lake Rd # 210 – Troy, MI 48085 – (248) 524-4878
Farmers Insurance Group – 1977 E Wattles Rd # D – Troy, MI 48085 – (248) 524-1070
State Farm Insurance – 2888 E Long Lake Rd # 140 – Troy, MI 48085 – (248) 689-2992

Independent Insurance Agents

These agents are not locked into one company so they have the ability to put coverage with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, an independent agent can move your coverage and that require little work on your part. When comparison shopping, you should always get quotes from several independent insurance agents to have the most options to choose from.

The following is a list of independent agents in Troy that can give you price quotes.

E M Schroeder Agency – 275 E Big Beaver Rd # 102 – Troy, MI 48083 – (248) 689-1020
Robert Denha Agency – 41113 Dequindre Rd – Troy, MI 48085 – (248) 879-2644
Advanced Insurance Svc – 1607 E Big Beaver Rd – Troy, MI 48083 – (248) 524-9080
Bruce D Smith Agency – 89 W South Blvd # 700 – Troy, MI 48085 – (248) 879-3100
Industrial Insurance Svc – 2855 Coolidge Hwy # 202 – Troy, MI 48084 – (248) 649-1500

For a complete listing of licensed insurance agents in Troy, please go to this site.

Once you have received answers to your satisfaction to any questions you have and an affordable coverage quote, you have narrowed it down to an insurance agent that is a good match to insure your vehicles.

When might I need help?

When choosing the right insurance coverage for your vehicles, there isn’t really a “perfect” insurance plan. Every situation is different and a cookie cutter policy won’t apply. These are some specific questions could help you determine if your insurance needs will benefit from professional help.

Do I benefit by insuring my home with the same company?
Can I pay claims out-of-pocket if I buy high deductibles?
Am I getting all the discounts available?
What if I don’t agree with a claim settlement offer?
How can I get high-risk coverage after a DUI?
What is high-risk coverage and where do I buy it?
Do I need higher deductibles?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It only takes a few minutes and can help protect your family.

More detailed Michigan car insurance information is located at the Michigan Office of Financial and Insurance Regulation website. Michigan drivers can find a variety of consumer forms, find out industry alerts, and read industry bulletins.

Other informative sites include Wikipedia and this list of insurance agents in Troy.

Coverages available on your car insurance policy

Knowing the specifics of your car insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are typical coverages found on most car insurance policies.

Medical expense insurance

Med pay and PIP coverage provide coverage for bills such as surgery, pain medications, funeral costs, hospital visits and nursing services. They can be used to fill the gap from your health insurance program or if you are not covered by health insurance. It covers all vehicle occupants as well as if you are hit as a while walking down the street. PIP is only offered in select states and may carry a deductible

Collision insurance

This coverage covers damage to your vehicle caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things like colliding with another moving vehicle, hitting a parking meter, colliding with a tree and crashing into a ditch. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Comprehensive (Other than Collision)

This coverage will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims like falling objects, rock chips in glass, damage from getting keyed and vandalism. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Protection from uninsured/underinsured drivers

Uninsured or Underinsured Motorist coverage provides protection when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your vehicle.

Since many Michigan drivers carry very low liability coverage limits (which is 20/40/10), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Liability auto insurance

Liability coverage can cover damage or injury you incur to other people or property in an accident. This coverage protects you against claims from other people. It does not cover damage to your own property or vehicle.

It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 25/50/25 which means $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.

Liability can pay for claims like repair costs for stationary objects, pain and suffering and legal defense fees. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford. Michigan requires drivers to carry at least 20,000/40,000/10,000 but you should think about purchasing higher limits.

One last thing about your coverage

When trying to cut insurance costs, it’s very important that you do not reduce coverage to reduce premium. There have been many situations where an accident victim reduced full coverage and found out when filing a claim that it was a big mistake. Your strategy should be to buy the best coverage you can find at the best price while not skimping on critical coverages.

We’ve covered a lot of tips how to reduce car insurance prices online. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. Consumers may even find the lowest premiums are with an unexpected company. They may only write in your state and offer lower rates than the large multi-state companies such as Allstate or State Farm.

Cheaper car insurance is available both online as well as from independent agents in Troy, and you need to price shop both to have the best rate selection. A few companies don’t offer online quoting and usually these small, regional companies provide coverage only through local independent agents.