Learn How to Buy Warwick, RI Auto Insurance Like an Expert

If shopping for auto insurance online is new to you, it’s easy to get confused by the large number of companies selling insurance in Warwick.

It’s a good habit to get comparison quotes before your policy renews since insurance rates are usually higher with each renewal. Despite the fact that you may have had the best deal a couple years back you can probably find a lower rate today. Starting right now, ignore everything you know about auto insurance because I’m going to teach you one of the quickest ways to find lower rates on auto insurance.

Are you getting all your discounts?

Companies offering auto insurance do not advertise all available discounts very clearly, so we researched some of the best known and also the lesser-known ways to save on auto insurance.

Early Signing – A few companies offer discounts for signing up prior to your current policy expiration. This can save 10% or more.
Bundle and Save – When you combine your home and auto insurance with one company you will save at least 10% off all policies.
Multiple Cars – Insuring all your vehicles on one policy may reduce the rate for each vehicle.
Accident Forgiveness – A few companies allow you one accident without raising rates if your claims history is clear for a set time period.
Anti-theft Discount – Vehicles equipped with anti-theft or alarm systems can help prevent theft and therefore earn up to a 10% discount.
Own a Home – Being a homeowner can save you money due to the fact that maintaining a home is proof that your finances are in order.
Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.

Consumers should know that most discounts do not apply to the entire cost. Most only apply to individual premiums such as liability, collision or medical payments. So when the math indicates all those discounts means the company will pay you, companies wouldn’t make money that way.

To see a list of insurers offering auto insurance discounts in Rhode Island, click here to view.

Tips to Get Lower Warwick Rates

Smart consumers have a good feel for the different types of things that come into play when calculating the rates you pay for auto insurance. When you know what positively or negatively determines base rates allows you to make educated decisions that could result in big savings. save money concept

The list below includes a few of the “ingredients” companies use to determine premiums.

Little extras can really add up – There are many extra bells and whistles you can purchase when buying auto insurance. Insurance for personal injury protection, better glass coverage and additional equipment coverage are some examples. These coverages may sound good initially, but now you might not need them so eliminate the coverages to reduce your premium.
Where you reside plays a part – Being located in a rural area is a positive aspect when talking about auto insurance. City drivers have more traffic problems and a longer drive to work. Fewer people means reduced accidents.
Lower miles equals lower premium – The more you drive every year the higher your rate. Most insurance companies rate vehicles based on their usage. Autos not used for work or commuting get more affordable rates compared to those used for work or business. Ask your agent if your auto insurance policy is rated on the correct driver usage.
Bundling policies can get discounts – Some companies will give a discount to people who have multiple policies with them, otherwise known as a multi-policy discount. If you currently are using one company, it’s in your best interest to compare rates to make sure you are getting the best deal.
Small claims can cost you – If you frequently file small claims, you can pretty much guarantee either a policy non-renewal or much higher rates. Car insurance companies in Rhode Island award lower rates to people who do not rely on their insurance for small claims. Auto insurance is intended for the large, substantial claims.
Don’t cancel a policy without a new one in place – Allowing your coverage to lapse will be a sure-fire way to bump up your auto insurance costs. Not only will rates go up, getting caught without coverage will get you a hefty fine and possibly a revoked license.You may need to submit proof of financial responsibility or a SR-22 with the Rhode Island department of motor vehicles.
Marriage pays dividends – Getting married actually saves money on auto insurance. Having a spouse is viewed as being more responsible and statistics show married drivers get in fewer accidents.

Beware of misleading auto insurance ads

Auto insurance providers like Allstate and Progressive consistently run ads on TV and radio. They all make an identical promise that you’ll save big if you change to their company. How can each company claim to save you money?

All companies have a certain “appetite” for the right customer that is profitable for them. An example of a desirable insured might be over the age of 40, owns a home, and has a short commute. Any new insured who matches those parameters gets the lowest rates and is almost guaranteed to save when switching.

Consumers who fall outside this ideal profile must pay higher premiums and ends up with the customer not buying. The ad wording is “people who switch” not “people who quote” save money. That is how insurance companies can confidently make those claims. This illustrates why you need to compare as many rates as you can. It’s just too difficult to predict which company will fit your personal profile best.

Additional Rhode Island car insurance resources

Even more information is available at the Rhode Island Division of Insurance Regulation website. Rhode Island drivers can find disaster information, read state legal mandates and laws, and learn about insurance regulations.

A little work can save a LOT of money

Discount auto insurance can be sourced from both online companies in addition to many Warwick insurance agents, and you need to comparison shop both to have the best rate selection. There are still a few companies who do not provide online quoting and most of the time these regional insurance providers sell through independent agents.

Insureds who switch companies do it for a variety of reasons including an unsatisfactory settlement offer, high prices, not issuing a premium refund and lack of trust in their agent. Whatever your reason, finding a new company can be easier than you think.

As you restructure your insurance plan, it’s a bad idea to reduce needed coverages to save money. There are many occasions where an insured cut liability coverage limits only to regret at claim time that they should have had better coverage. The proper strategy is to purchase a proper amount of coverage at the best price, not the least amount of coverage.