Tired of not being able to afford to insure your vehicles every month? You are no different than many other Arkansas drivers. With so many online and local companies to choose from, it is very difficult to choose the cheapest company.
You should make it a habit to compare prices periodically since rates change regularly. If you had the lowest rates a couple years back there may be better deals available now. Starting now, forget anything you know (or think you know) about car insurance because we’re going to show you the best way to lower your annual insurance bill.
Consumers need to have an understanding of the rating factors that go into determining your car insurance rates. Having a good understanding of what controls the rates you pay allows you to make educated decisions that will entitle you to big savings.
Car insurance companies don’t always publicize all available discounts in an easy-to-find place, so we break down both the well known and the harder-to-find savings tricks you should be using. If they aren’t giving you every credit you qualify for, you are throwing money away.
It’s important to note that many deductions do not apply to the entire cost. Most only apply to individual premiums such as liability, collision or medical payments. So despite the fact that it appears it’s possible to get free car insurance, you’re out of luck.
For a list of providers who offer car insurance discounts in Arkansas, click here.
Arkansas consumers constantly see and hear ads for cheaper car insurance from the likes of Progressive, GEICO, Allstate and State Farm. All the ads make an identical promise about savings if you move your coverage to them.
How do they all make almost identical claims? It’s all in the numbers.
Different companies have a preferred profile for the driver that earns them a profit. For example, a desirable insured might be profiled as over the age of 40, is a homeowner, and drives less than 10,000 miles a year. Any driver who fits that profile receives the best rates and as a result will probably save when switching.
Consumers who are not a match for the requirements will be quoted a more expensive rate which leads to business going elsewhere. The ads say “customers that switch” not “everybody who quotes” save money. That is how companies can state the savings. This emphasizes why you need to compare many company’s rates. It’s not possible to predict which company will give you the biggest savings.
When choosing adequate coverage, there isn’t really a “perfect” insurance plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions might help in determining whether or not you would benefit from an agent’s advice.
If you can’t answer these questions, you might consider talking to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It’s fast, free and you can get the answers you need.
More tips and info about car insurance is located at the Arkansas Insurance Department website. Consumers can discover disciplinary actions, learn about insurance regulations, and view a list of available companies.
We just covered quite a bit of information on how to lower your car insurance rates. It’s most important to understand that the more times you quote, the more likely it is that you will get a better rate. Consumers may even find the best price on car insurance is with the least-expected company. Regional companies may have significantly lower rates on certain market segments than their larger competitors like Allstate or State Farm.
As you go through the steps to switch your coverage, never buy poor coverage just to save money. There have been many situations where consumers will sacrifice liability limits or collision coverage only to regret at claim time that it was a big error on their part. The proper strategy is to purchase a proper amount of coverage at an affordable rate while not skimping on critical coverages.