10 Top Methods to Cut Auto Insurance Costs in Wilmington Delaware

Sick and tired of trying to scrape together enough money to pay your car insurance bill each month? You’re in the same situation as many other Delaware drivers.

Lots of insurers contend to insure your vehicles, and because of this it can be hard to compare car insurance companies to get the lowest rate

It’s a good habit to do rate comparisons yearly since insurance rates change regularly. Even if you think you had the lowest price a year ago the chances are good that you can find a lower rate today. So forget anything you know (or think you know) about auto insurance because you’re about to learn the right way to lower your annual insurance bill.

If you currently have a car insurance policy, you stand a good chance to be able to reduce your rates substantially using these tips. Buying car insurance in Wilmington is not that difficult. Nevertheless, Delaware car owners must understand how companies market insurance on the web.

How to Get Cheap Auto Insurance in Wilmington

There are several ways of comparing rate quotes from different in Wilmingtoninsurance companies. The quickest method to find competitive insurance rates is to get quotes online. This is very easy and can be done in just a few minutes using one of these methods.

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 prevents you from having to do a different quote for each company you want a rate for. A single form will get you price quotes from many national carriers.

A less efficient way to analyze rates requires you to visit each company’s website to request a price quote. For example, we’ll pretend you want rates from Liberty Mutual, State Farm and Travelers. You would have to go to every website to input your insurance information, which is why the first method is quicker. To view a list of companies in Wilmington, click here.

Which method you use is up to you, but be sure to compare exactly the same coverage limits for each price quote. If you enter mixed coverages it will be next to impossible to make an equal comparison in Wilmington. Just a small difference in coverages can mean a large discrepancy in price. Just keep in mind that getting more free quotes provides better odds of finding a better price.

Discounts can save BIG

Insurance can be prohibitively expensive, but there could be available discounts to cut the cost considerably. Some trigger automatically at the time of quoting, but some may not be applied and must be inquired about before you get the savings.

  • Discount for New Cars – Adding a new car to your policy can save up to 30% compared to insuring an older model.
  • Pay Now and Pay Less – By paying your policy upfront rather than paying monthly you can actually save on your bill.
  • No Accidents – Good drivers with no accidents can save substantially compared to accident-prone drivers.
  • Discount for Life Insurance – Companies who offer life insurance give a discount if you purchase a life insurance policy as well.
  • Bundle and Save – When you combine your home and auto insurance with one company you may earn 10% to 20% off each policy.
  • Fewer Miles Equal More Savings – Fewer annual miles can earn a substantially lower rate.
  • More Vehicles More Savings – Having multiple cars or trucks on the same auto insurance policy may reduce the rate for each vehicle.
  • Paperwork-free – Some insurance companies give back up to $50 just for signing your application online.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% off your medical payments premium.
  • Homeowners Savings – Being a homeowner can help you save on auto insurance because owning a home requires personal responsibility.

It’s important to understand that some credits don’t apply to all coverage premiums. The majority will only reduce individual premiums such as medical payments or collision. So even though they make it sound like all the discounts add up to a free policy, you won’t be that lucky. But any discount will bring down the amount you have to pay.

Car insurance 101

Having a good grasp of your policy aids in choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. These are typical coverage types found on most auto insurance policies.

Med pay and Personal Injury Protection (PIP)Wilmington insurance cheap

Medical payments and Personal Injury Protection insurance pay for expenses such as rehabilitation expenses, chiropractic care and funeral costs. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. It covers all vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay

Liability car insurance

This coverage can cover damage or injury you incur to other’s property or people. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 25/50/25 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery. Another option is a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability coverage pays for claims like loss of income, attorney fees and medical services. How much coverage you buy is a personal decision, but you should buy as large an amount as possible. Delaware state law requires minimum liability limits of 15,000/30,000/10,000 but it’s recommended drivers buy better liability coverage.

Uninsured/Underinsured Motorist (UM/UIM)

This provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits (15/30/10 in Delaware), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits are identical to your policy’s liability coverage.

Collision protection

Collision coverage will pay to fix damage to your vehicle resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for things such as driving through your garage door, sideswiping another vehicle, damaging your car on a curb, backing into a parked car and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to get cheaper collision coverage.

Comprehensive insurance

price insurance in Wilmington Delaware

This pays for damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims such as hitting a bird, vandalism, damage from getting keyed, damage from a tornado or hurricane and hitting a deer. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

Additional information can be found on the website for the Delaware Department of Insurance. Click here for link. Delaware consumers can discover disciplinary actions, read industry bulletins, and read consumer alerts.

Affordable insurance is out there

When shopping online for auto insurance, it’s very important that you do not reduce coverage to reduce premium. In many cases, an accident victim reduced full coverage only to discover later that it was a big error on their part. Your goal should be to buy enough coverage at the best price while still protecting your assets.

Budget-conscious auto insurance is definitely available online and also from your neighborhood Wilmington agents, so compare prices from both to have the best selection. A few companies may not provide the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.

In this article, we presented quite a bit of information on how to reduce auto insurance prices online. The key thing to remember is the more times you quote, the higher your chance of finding lower rates. You may be surprised to find that the best price on auto insurance is with a smaller regional carrier. Regional companies can often provide lower rates in certain areas than their larger competitors like Allstate and Progressive.