Auto Insurance in Kingsport, TN – 7 Discounts Consumers are Missing

Finding lower rates for Kingsport auto insurance can seem to be hard for consumers not familiar with shopping for insurance online. Consumers have so many options that it can easily become a real hassle to find lower rates in Kingsport.

It’s important to check auto insurance prices on a regular basis because rates are usually higher with each renewal. Just because you had the best deal a couple years back you may be paying too much now. Starting right now, ignore everything you know about auto insurance because I’m going to teach you one of the easiest ways to find better rates and still maintain coverage.

Verify you’re getting all your discounts

Insuring your fleet can be pricey, but discounts can save money and there are some available to reduce the price significantly. A few discounts will automatically apply when you purchase, but a few need to be specially asked for before they will apply.

• Save over 55 – Mature drivers may receive a small decrease in premiums.
• Multiple Policy Discount – When you have multiple policies with one company you could get a discount of at least 10% off all policies.
• Anti-lock Brake System – Vehicles with anti-lock braking systems can reduce accidents and therefore earn up to a 10% discount.
• Discounts for Safe Drivers – Safe drivers can pay as much as 50% less than drivers with accident claims.
• Good Student Discount – Getting good grades can get you a discount of up to 25%. The discount lasts well after school through age 25.
• Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts could cut 10% or more off your medical payments premium.
• Life Insurance – Some companies give a break if you buy life insurance.

As a disclaimer on discounts, most of the big mark downs will not be given to your bottom line cost. A few only apply to individual premiums such as medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, you won’t be that lucky. But any discount will bring down the amount you have to pay.

To see a list of insurance companies who offer auto insurance discounts in Tennessee, click here.

Do drivers who switch really save?

Auto insurance companies such as State Farm, Allstate and GEICO constantly bombard you with television and radio advertisements. They all seem to say the same thing that you’ll save big if you switch to their company. How do they all make the same claim? This is how they do it.

Different companies are able to cherry pick for the type of customer that makes them money. For instance, a desirable insured might be over the age of 50, has no prior claims, and has a high credit rating. A driver who matches those parameters will get the preferred rates and as a result will probably pay quite a bit less when switching companies.

Potential customers who don’t meet these standards will be quoted a higher premium and ends up with the driver buying from a lower-cost company. The ad wording is “customers who switch” but not “drivers who get quotes” save that much. This is how companies can truthfully make the claims of big savings.

This emphasizes why it is so important to get quotes from several different companies. You cannot predict which insurance companies will have the lowest rates.

Auto insurance 101

Learning about specific coverages of your policy can help you determine which coverages you need for your vehicles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like funeral costs, X-ray expenses, surgery and doctor visits. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. They cover all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Collision coverage – Collision insurance covers damage to your vehicle resulting from a collision with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as hitting a mailbox, hitting a parking meter, rolling your car and scraping a guard rail. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to raise the deductible to save money on collision insurance.

Liability coverages – This coverage can cover damage or injury you incur to people or other property by causing an accident. It protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 that means you have a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Alternatively, you may have a combined limit that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability can pay for claims like funeral expenses, structural damage, repair bills for other people’s vehicles and emergency aid. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as large an amount as possible. Tennessee requires minimum liability limits of 25,000/50,000/15,000 but you should consider buying more coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This provides protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many Tennessee drivers carry very low liability coverage limits (25/50/15 in Tennessee), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits are identical to your policy’s liability coverage.

Comprehensive insurance – This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive insurance covers claims like rock chips in glass, damage from flooding, damage from getting keyed, a tree branch falling on your vehicle and theft. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Read more about Tennessee auto insurance

Much more information about auto insurance in Tennessee can be read on the Tennessee Department of Commerce and Insurance website through this link. Consumers can view agent and company licensing information, read industry bulletins, and get help finding coverage.

Other informative sites include this site for rates in Tennessee and this link which helps you find a Kingsport agent.

The best insurance company isn’t always the cheapest

We covered a lot of ways to shop for auto insurance online. The key concept to understand is the more companies you get rates for, the better your chances of lowering your rates. Drivers may discover the lowest priced auto insurance comes from a small mutual company.

Lower-priced auto insurance is possible from both online companies as well as from independent agents in Kingsport, and you should compare price quotes from both to have the best chance of lowering rates. Some insurance companies don’t offer online price quotes and most of the time these small, regional companies sell through independent agents.

Drivers leave their current company for a number of reasons such as lack of trust in their agent, poor customer service, policy cancellation or even unfair underwriting practices. Whatever your reason, switching auto insurance companies is easier than you think.