Auto Insurance in Springfield Ohio – 8 Tricks to Cut Costs

Feel like you’re a prisoner to an overpriced auto insurance policy? Believe me, there are many people just like you.

With consumers having so many auto insurance companies to choose from, it is hard for the average consumer to choose the best car insurance company.

Finding the lowest cost auto insurance coverage in Springfield is easy if you know what you’re doing. Basically, everyone who is shopping for auto insurance stands a good chance to be able to find better rates. Nevertheless, Ohio drivers must learn how companies sell insurance online and use this information to your advantage.

Policy discounts you shouldn’t miss

Insurance can cost an arm and a leg, buy you may qualify for discounts to reduce the price significantly. A few discounts will automatically apply at the time of purchase, but lesser-known reductions have to be asked about before being credited.

  • Save with a New Car – Insuring a new car can cost up to 25% less since new cars are generally safer.
  • Discount for Swiching Early – A few companies offer discounts for switching to them prior to your current policy expiring. The savings is around 10%.
  • Good Students Pay Less – Performing well in school can save 20 to 25%. The good student discount can last until age 25.
  • Military Rewards – Being on active duty in the military may qualify for rate reductions.
  • Seat Belts Save – Requiring all passengers to use their safety belts could cut 10% or more off your PIP or medical payments premium.
  • Discounts for Safe Drivers – Drivers who avoid accidents can pay as much as 50% less than drivers with accidents.
  • Multi-car Discount – Having more than one vehicle on one policy qualifies for this discount.
  • Resident Student – Youth drivers who are attending college and do not have access to a covered vehicle can receive lower rates.

A little note about advertised discounts, many deductions do not apply the the whole policy. A few only apply to specific coverage prices like liability and collision coverage. Just because you may think you could get a free auto insurance policy, you won’t be that lucky. But all discounts will help reduce your premiums.

Slick advertising tricks that work

Companies like State Farm, Allstate and GEICO continually stream ads on TV and radio. All the ads say the same thing about savings after switching to them. But how can every company say the same thing? It’s all in the numbers.

Different companies are able to cherry pick for the type of customer that makes them money. An example of a desirable insured might be profiled as between the ages of 40 and 55, is a homeowner, and drives newer vehicles. A customer getting a price quote that hits that “sweet spot” gets the lowest rates and most likely will save a lot of money.

Drivers who are not a match for these standards will have to pay a higher premium and ends up with the driver buying from a lower-cost company. The ad wording is “people who switch” not “everyone that quotes” save that much. That’s the way companies can claim big savings.

Because of the profiling, it’s extremely important to get as many quotes as possible. You cannot predict which insurance companies will fit your personal profile best.

Auto insurance coverage breakdown

Understanding the coverages of your policy aids in choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by auto insurance companies.<img class="alignright" style="padding-top:15px;" src="" alt="Springfield Ohio auto insurance“/>

Comprehensive insurance – This coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like rock chips in glass, hail damage and fire damage. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Liability – Liability insurance can cover damage that occurs to other’s property or people in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Alternatively, you may have a combined limit which provides one coverage limit without having the split limit caps.

Liability can pay for things like repair costs for stationary objects, attorney fees, funeral expenses and court costs. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase higher limits if possible. Ohio state law requires minimum liability limits of 12,500/25,000/7,500 but it’s recommended drivers buy better liability coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your vehicle.

Due to the fact that many Ohio drivers have only the minimum liability required by law (Ohio limits are 12,500/25/7,500), their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Normally your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.

Collision coverage – Collision coverage pays for damage to your vehicle from colliding with another car or object. You first must pay a deductible and then insurance will cover the remainder.

Collision insurance covers claims such as crashing into a building, scraping a guard rail, backing into a parked car and driving through your garage door. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible to get cheaper collision coverage.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as nursing services, funeral costs, EMT expenses, surgery and pain medications. They are used in conjunction with a health insurance plan or if you are not covered by health insurance. It covers you and your occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage

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More information can be read on the website for the Ohio Department of Insurance located here. Ohio drivers can download brochures, read state legal mandates and laws, and read consumer alerts.

The following information may also be useful.

More quotes mean more savings

The cheapest auto insurance can be bought both online and with local Springfield insurance agents, and you should be comparing both to have the best selection. Some companies do not offer the ability to get a quote online and usually these regional insurance providers provide coverage only through local independent agents.

While you’re price shopping online, it’s not a good idea to sacrifice coverage to reduce premiums. In many instances, someone dropped collision coverage only to regret that they should have had better coverage. The aim is to purchase a proper amount of coverage at a price you can afford while not skimping on critical coverages.

In this article, we presented many ideas to lower your auto insurance rates. It’s most important to understand that the more providers you compare, the better your chances of lowering your rates. You may even discover the best prices are with a small mutual company. These companies often have lower prices on specific markets than their larger competitors like State Farm and Allstate.