10 Excellent Ways to Cut Your Auto Insurance Rates in Madison, South Dakota

Tired of trying to scrape together enough money each month for car insurance? You are in the same boat as many other South Dakota drivers. Drivers have so many car insurance companies to choose from, and though it is a good thing to have a choice, lots of choices makes it harder to locate the cheapest rates.

Consumers should take time to shop coverage around every six months since rates trend upward over time. Even if you got the best price a few years ago a different company probably has better rates today. There is a lot of bad information regarding auto insurance on the web, but we’re going to give you some solid techniques on how to put money back in your pocket.

Where Can I Get Cheap Madison Auto Insurance?

Lowering your auto insurance rates can be relatively painless. All you need to do is spend a few minutes on the computer comparing rates online with multiple companies. This can be accomplished in a couple of different ways.

One of the best ways consumers can analyze rates is an all-inclusive rate comparison click to view form in new window. This easy form saves time by eliminating multiple quote forms for each company you want a rate for. Just one form will get you price quotes from all major companies.
A more time consuming way to find lower rates consists of going to each company’s website to request a price quote. For example, let’s assume you want to compare Allstate, State Farm and GMAC. To find out each rate you need to visit each site to input your insurance information, which is why the first method is quicker.
To view a list of companies in Madison, click here.
The least recommended method of comparing rate quotes is to spend time driving to different Madison agent offices. The internet has reduced the need for local agents unless you require the professional guidance only provided by licensed Madison agents. However, consumers can compare the best prices online but still have the advice of a local agent and we’ll touch on that later.

Whichever way you use, make darn sure you compare identical information for each price quote. If the quotes have higher or lower deductibles it will be next to impossible to determine the lowest rate in Madison.

Are you getting all your discounts?

Auto insurance companies do not list all their discounts in an easy-to-find place, so we break down some of the best known and also the lesser-known discounts you could be receiving. If they aren’t giving you every credit possible, you’re paying more than you need to.

Passive Restraints and Air Bags – Cars that have air bags or automatic seat belts can get savings of 20% or more.
Student Driver Training – Require your teen driver to successfully complete driver’s ed class if it’s offered in school.
Pay Now and Pay Less – If you pay your entire premium ahead of time rather than paying monthly you could save 5% or more.
Anti-lock Brake Discount – Anti-lock brake equipped vehicles can avoid accidents and earn discounts up to 10%.
More Vehicles More Savings – Buying insurance for multiple cars or trucks on the same auto insurance policy can get a discount on all vehicles.
No Charge for an Accident – A few companies allow you one accident without raising rates if you are claim-free prior to the accident.
Bundle and Save – When you have multiple policies with one company you may earn approximately 10% to 15%.
Military Discounts – Being deployed with a military unit may qualify for rate reductions.
E-sign – Some insurance companies give back up to $50 just for signing your application on their website.
Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and will save you 10% or more.

It’s important to note that many deductions do not apply the the whole policy. A few only apply to individual premiums such as liability and collision coverage. So despite the fact that it appears you could get a free auto insurance policy, it just doesn’t work that way.

To choose companies offering auto insurance discounts in South Dakota, click here.

Educated Consumers Know How to Buy Auto Insurance Cheaper

An important part of buying insurance is that you know the rating factors that play a part in calculating the price you pay for auto insurance. Knowing what controls the rates you pay allows you to make educated decisions that can help you get better auto insurance rates.

Performance influences rates – The make and model of the vehicle you are buying insurance for makes a significant difference in the rate you pay. The lowest rates tend to be for small economy passenger cars, but the final cost of insurance is determined by many other factors.
Allowing your policy to lapse raises rates – Driving without insurance is illegal and your next policy will cost more because you let your coverage have a gap. Not only will you pay more, failure to provide proof of insurance might get you a revoked license or a big fine.You may have to prove you have insurance by filing a SR-22 with the South Dakota motor vehicle department to get your license reinstated.
Higher deductibles cost less – Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. A few examples of covered claims could be running into the backend of another car, damage from fire, or theft. Physical damage deductibles are how much you are required to spend if you file a covered claim. The more expense you have to pay, the bigger discount you will receive.
Your occupation can affect rates – Occupations like lawyers, executives and stock brokers have the highest rates in part from high stress levels and long work hours. On the other hand, occupations like actors, students and the unemployed get better rates.
Better credit scores mean better rates – Your credit history is a huge factor in determining what you pay for auto insurance. If your credit history is not that good, you could be paying less to insure your by improving your credit score. Drivers with high credit ratings tend to file fewer claims and have better driving records than those with lower credit scores.
Frequent auto insurance claims increase rates – Car insurance companies in South Dakota provide discounts to drivers who file claims infrequently. If you file claims often, you can expect either higher rates or even cancellation. Car insurance is designed for the bigger claims that can’t be paid out-of-pocket.
Tickets mean higher rates – Just one speeding ticket can boost insurance rates by as much as thirty percent. Careful drivers have lower premiums than their less careful counterparts. Drivers who have dangerous citations such as reckless driving, hit and run or driving under the influence may need to file a proof of financial responsibility form (SR-22) with their state DMV in order to prevent a license revocation.
Men pay higher rates – Statistics demonstrate that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are WORSE drivers than women. Both sexes cause accidents at about the same rate, but the males cause more damage. They also receive more costly citations such as reckless driving. Teenage male drivers are most likely to cause an accident and thus pay the highest rates.

Can’t I compare rates from local Madison agents?

A small number of people just want to get advice from a local agent and that is just fine! Educated insurance agents can answer important questions and help file insurance claims. One of the great benefits of getting online price quotes is you may find better rates and still have an agent to talk to. Auto insurance in Madison South Dakota

Upon completion of this simple form, the quote information is submitted to insurance agents in Madison who will give you bids for your coverage. You never need to drive around since price quotes are sent to the email address you provide. Now that’s easy!

Picking an insurance company needs to be determined by more than just the premium amount. Some important questions to ask are:

Does the agency provide any after hours assistance?
Is the agency involved in supporting local community causes?
Are claim adjusters local or do you have to take your car somewhere else?
Does the company allow you to choose your own collision repair facility?
If you have an accident, will your rates go up?
Are there any hidden costs in their price quote and does it include driving and credit history?

Different types of Madison insurance agencies

When searching for a good insurance agency, there are two different agency structures to choose from. Agencies in Madison are classified as either captive or independent. Both properly insure your vehicles, but it’s worth mentioning how they are different because it can influence your agent selection.

Agency Captives

This type of agents work for only one company and examples are Allstate, Farmers Insurance or State Farm. These agents are not able to compare other company’s rates so always compare other rates. They are very knowledgeable on their company’s products which helps them sell insurance even at higher premiums.

The following are captive insurance agents in Madison that can give you comparison quotes.

American Family Insurance – 301 N Lincoln Ave – Madison, SD 57042 – (605) 256-3983
Farmers Insurance Group – 120 E Center St – Madison, SD 57042 – (605) 256-6334
Farm Bureau Financial Svc – 210 N Egan Ave – Madison, SD 57042 – (605) 256-6501
State Farm Insurance – 730 S Washington Ave – Madison, SD 57042 – (605) 256-2363

Independent Agencies or Brokers

Independent insurance agents are not locked into one company so they can insure your vehicles with many different companies depending on which coverage is best. If you are not satisfied with one company, the agent simply finds a different carrier and you don’t have to find a new agent. When comparison shopping, it’s a good idea to include price quotes from at least one independent agent to get the best comparison.

Below are Madison independent insurance agents that can give you price quotes.

Insurance Associate Inc – 122 W Center St – Madison, SD 57042 – (605) 256-6608
First Madison Insurance – 109 S Egan Ave – Madison, SD 57042 – (605) 256-6634

For a full directory of Madison insurance agents, visit this link.

After getting satisfactory answers and an acceptable price quote, you may have just found an insurance agent that is a good match to properly service your auto insurance policy.

Additional detailed information is located at the South Dakota Division of Insurance website. Visitors are able to read industry bulletins, find out which companies have the most complaints, and file complaints about an insurance agent or broker.

Final thoughts

Cost effective auto insurance can be purchased online in addition to many Madison insurance agents, and you need to comparison shop both in order to have the best chance of saving money. Some auto insurance companies do not provide you the ability to get quotes online and many times these smaller companies only sell through independent insurance agents.

We just covered some good ideas how you can get a better price on auto insurance. The key thing to remember is the more providers you compare, the better your chances of lowering your rates. You may even find the most savings is with some of the smallest insurance companies. They may often insure only within specific states and give getter rates than the large multi-state companies such as Allstate, GEICO and Progressive.

When trying to cut insurance costs, make sure you don’t reduce coverage to reduce premium. In many instances, someone dropped collision coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.