9 Discounts Corrales Consumers Miss when Comparing Auto Insurance Online

Have you fallen victim to overpriced auto insurance? Believe me, there are many Corrales consumers feeling the pinch from expensive auto insurance.

Since consumers have many insurance companies to choose from, it’s difficult to pick the lowest price provider.

Don’t miss out on these nine money-saving discounts

Companies offering auto insurance do not advertise all their discounts in a way that’s easy to find, so here is a list some of the more common and the more hidden discounts you could be receiving.

• Payment Method – If you pay your entire premium ahead of time instead of making monthly payments you may reduce your total bill.
• Discounts for Safe Drivers – Insureds without accidents may receive a discount up to 45% less than drivers with accident claims.
• Theft Prevention System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
• Multi-policy Discount – If you insure your home and vehicles with the same insurance company you may earn at least 10% off all policies.
• Drivers Education – Cut your cost by having your teen driver enroll in driver’s education in school.
• Fewer Miles Equal More Savings – Driving fewer miles can qualify you for lower rates on the low mileage vehicles.
• New Car Discount – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
• Military Discounts – Being on active duty in the military can result in better rates.
• Sign Online – A few companies may give you up to $50 for buying a policy and signing up over the internet.

Keep in mind that many deductions do not apply to the entire cost. Some only reduce the price of certain insurance coverages like medical payments or collision. Just because you may think adding up those discounts means a free policy, it doesn’t quite work that way.

What about using a local agent?

Some people prefer to talk to a local agent and that is a personal choice. The best thing about getting online price quotes is the fact that you can find the best rates and still choose a local agent.

Once you complete this simple form, your insurance data is emailed to local insurance agents in Corrales who will compete to get your business. You won’t need to even leave your home because quoted prices will be sent directly to your email. It doesn’t get any easier! You can find better rates and an insurance agent to talk to.

Picking an provider requires more thought than just the bottom line cost. Here are some questions to ask:

• What insurance companies do they recommend if they are an independent agent?
• Do they carry Errors and Omissions coverage?
• What will you get paid if your car is a total loss? How is that amount determined?
• Are they full-time agents?
• Does the agency provide any after hours assistance?
• Which insurance companies are they affiliated with?

Do you need an independent or captive insurance agent?

When looking for a good Corrales insurance agent, there are two different types of agents that you can select. Agents are categorized either independent or captive.

Captive Insurance Agents

Captive agents have only one company to place business with and some examples include AAA, Allstate and State Farm. They are unable to provide prices from multiple companies so they are skilled at selling on more than just price. Captives are very knowledgeable on their products and sales techniques which helps them sell insurance even at higher premiums.

Independent Agencies or Brokers

These agents are not required to write business for one company but instead can place your coverage amongst many companies and possibly get better coverage at lower prices. If you are not satisfied with one company, the business is moved internally without you having to go to a different agency.

When shopping rates, it’s a good idea to include at a minimum one independent agency for the best price selection.

Once you have received satisfactory answers to your questions and locked in a price quote, chances are good that you have found an auto insurance agent that can service your policy.

Slick advertising tricks that work

Companies like State Farm, Allstate and GEICO continually stream ads in print and on television. All the ads make the same claim that you can save after switching your coverage to them. How can each company claim to save you money? It’s all in the numbers.

Insurance companies have a certain “appetite” for the type of customer that is profitable for them. For example, a desirable insured might be between 25 and 40, owns a home, and drives newer vehicles. A customer who fits that profile will get very good rates and as a result will probably cut their rates substantially.

Consumers who are not a match for these standards will be charged higher prices and ends up with the customer not buying. Company advertisements say “drivers who switch” not “everybody who quotes” save money. That is how insurance companies can advertise the savings. That is why it’s extremely important to get quotes from several different companies. It’s impossible to know which company will provide you with the cheapest rates.

More consumer information in New Mexico

More detailed New Mexico auto insurance information can be read at the New Mexico Insurance Division website. New Mexico consumers can file complaints about a company, download brochures, find a variety of consumer forms, and file complaints about an insurance agent or broker.

Also read more on these car insurance answers and this resource to find Corrales, NM insurance agents.

Auto insurance policy coverages

Knowing the specifics of auto insurance can be of help when determining appropriate coverage at the best deductibles and correct limits. Policy terminology can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverages available from auto insurance companies.

Medical payments and PIP coverage

Med pay and PIP coverage kick in for expenses for things like rehabilitation expenses, dental work and EMT expenses. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

Comprehensive auto coverage

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as damage from getting keyed, falling objects and rock chips in glass. The maximum payout your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Coverage for collisions

Collision coverage covers damage to your vehicle resulting from a collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like scraping a guard rail, backing into a parked car and hitting a parking meter. Collision is rather expensive coverage, so consider removing coverage from older vehicles. It’s also possible to raise the deductible to save money on collision insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your vehicle.

Because many people only carry the minimum required liability limits (25/50/10 in New Mexico), their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.

Auto liability

Liability insurance can cover damages or injuries you inflict on other people or property that is your fault. It protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.

Liability can pay for things such as medical services, repair bills for other people’s vehicles, legal defense fees, bail bonds and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as high a limit as you can afford. New Mexico requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying higher limits.

One last thing about your coverage

We just presented many ideas to reduce auto insurance prices online. It’s most important to understand that the more companies you get rates for, the higher your chance of finding lower rates. You may be surprised to find that the biggest savings come from a smaller regional carrier. These companies can often insure niche markets at a lower cost than their larger competitors like Allstate, GEICO and Progressive.

Cheap auto insurance is possible from both online companies in addition to many Corrales 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 online price quotes and many times these smaller companies only sell through independent insurance agents.