Top 8 Ways to Get Lower Rates on Auto Insurance in Bloomington Indiana

Perplexed by the crazy number of auto insurance companies in Bloomington? You’re not the only one! People have so many companies to choose from that it can quickly become a big hassle to locate the lowest price.

Policy discounts you shouldn’t miss

Car insurance companies do not list every available discount very clearly, so we break down some of the best known and the harder-to-find savings tricks you should be using.

Life Insurance – Companies who offer life insurance give lower rates if you buy life insurance.
Safety Course Discount – Taking part in a driver safety course could possibly earn you a 5% discount if your company offers it.
Drive Less and Save – Keeping the miles down could qualify for discounted rates on garaged vehicles.
Theft Prevention System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and earn discounts up to 10%.
Discount for Good Grades – Getting good grades can earn a discount of 20% or more. This discount can apply until age 25.
Passive Restraint Discount – Vehicles equipped with air bags can receive discounts of more than 20%.
No Claims – Drivers who don’t have accidents pay less when compared with frequent claim filers.
Homeowners Pay Less – Simply owning a home can help you save on auto insurance because maintaining a house demonstrates responsibility.

Keep in mind that most credits do not apply to your bottom line cost. A few only apply to individual premiums such as comprehensive or collision. So even though they make it sound like all those discounts means the company will pay you, you won’t be that lucky.

To choose companies who offer auto insurance discounts in Bloomington, follow this link.

Shop online but buy locally

Certain consumers would prefer to buy from a licensed agent and there is nothing wrong with that. The best thing about comparing insurance prices online is you may find better rates and still have an agent to talk to.

For easy comparison, once you complete this quick form, the coverage information is emailed to local insurance agents in Bloomington who will give you bids for your business. There is no reason to drive around due to the fact that quote results will go straight to your inbox. You can find the lowest rates AND an agent nearby.

Selecting an insurer should depend on more than just a cheap price. Agents should be asked these questions:

Are they full-time agents?
Is assistance available after office hours?
Does the agent have professional designations like CIC, CPCU or AIC?
How many years of experience in personal lines insurance coverages do they have?
What insurance company do they write the most business with?

Captive or Independent: There is a difference

If you’re trying to find a reliable agent, there are a couple of types of insurance agents to choose from. Agencies in Bloomington can either be independent or captive.

Agency Captives

Captive agencies write business for a single company and examples are Farmers Insurance, American Family, State Farm and Allstate. They usually cannot place coverage with different providers so it’s a take it or leave it situation. Captive agencies are well schooled on the products they sell which helps them sell insurance even at higher premiums. Consumers sometimes buy insurance from these agents mostly because of the brand legacy and the convenience of having a single billing for all their coverages.

The following is a list of captive insurance agencies in Bloomington who may provide you with rate quotes.

American Family Insurance – 425 N Walnut St – Bloomington, IN 47404 – (812) 336-5935
Farmers Insurance Group – 2456 S Walnut St – Bloomington, IN 47401 – (812) 323-7348
State Farm Insurance – 444 S College Ave – Bloomington, IN 47403 – (812) 339-5529
Shelter Insurance – 633 N College Ave – Bloomington, IN 47404 – (812) 332-3900
Allstate Insurance – 1000 N Walnut St # A – Bloomington, IN 47404 – (812) 332-9347
Farm Bureau Insurance – 1618 W 3rd St – Bloomington, IN 47404 – (812) 336-0174

Independent Agents

Independent insurance agents are not employed by any specific company but rather can write business with multiple insurance companies and potentially find a lower price. To transfer your coverage to a different company, the agent simply finds a different carrier and that require little work on your part. When comparison shopping, it’s recommended you include several independent insurance agents for maximum quote selection.Most can insure with different regional companies who may have lower rates.

Listed below is a list of independent agencies in Bloomington willing to provide price quote information.

Isu The May Agency – 1327 N Walnut St – Bloomington, IN 47404 – (812) 334-2400
Kevin Eads Agency – 2456 S Walnut St – Bloomington, IN 47401 – (812) 335-8511
John E Matthias Agency – 702 W 17th St – Bloomington, IN 47404 – (812) 339-0680
ONB Insurance – 121 E Kirkwood Ave – Bloomington, IN 47408 – (812) 331-4005
Tanya Mitchell Insurance Inc – 820 W 17th St # 5 – Bloomington, IN 47404 – (812) 339-3011

For a complete listing of licensed insurance agents in Bloomington, click here to link.

After receiving positive responses to these questions and an affordable coverage quote, chances are good that you have found an insurance agency that is a good match to insure your vehicles. But keep in mind policyholders can cancel coverage whenever you wish so never feel you are locked into any specific agency with no way out.

Is there truth in advertising?

Companies like Progressive, GEICO, Allstate and State Farm continually stream ads on television and other media. All the ads make an identical promise that you can save after switching to their company. How can each company claim to save you money? It’s all in the numbers.

Different companies have a certain “appetite” for the right customer that is profitable for them. A good example of a driver they prefer could be between 30 and 50, is a homeowner, and chooses high deductibles. A customer who meets those qualifications will qualify for the lowest rates and is almost guaranteed to pay quite a bit less when switching companies.

Potential customers who do not match this ideal profile will be quoted a more expensive rate which leads to business going elsewhere. The ad wording is “people who switch” not “people who quote” save that much. This is how insurance companies can confidently advertise the way they do. This emphasizes why drivers should quote coverage with many companies. It’s just too difficult to predict which insurance companies will fit your personal profile best.

There’s no such thing as the perfect policy

When it comes to choosing coverage for your personal vehicles, there is no perfect coverage plan. Your needs are not the same as everyone else’s.

For example, these questions might point out if your situation would benefit from professional advice.

Is my nanny covered when driving my vehicle?
Does my insurance cover a custom paint job?
What if I total my vehicle and owe more than it’s worth?
What are Indiana no-fault laws?
Do I need PIP coverage since I have good health insurance?
What is the difference between comprehensive and collision coverage?
Can I rate high risk drivers on liability-only vehicles?
Will I be non-renewed for getting a DUI or other conviction?
Do I need to file an SR-22 for a DUI in Indiana?

If you can’t answer these questions then you might want to talk to an insurance agent. To find an agent in your area, take a second and complete this form.

What auto insurance coverages do you need?

Knowing the specifics of auto insurance aids in choosing appropriate coverage and the correct deductibles and limits. Auto insurance terms can be difficult to understand and reading a policy is terribly boring.

Comprehensive coverage

This coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims such as falling objects, rock chips in glass and theft. The most a auto insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Uninsured/Underinsured Motorist coverage

This provides protection from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.

Since many Indiana drivers carry very low liability coverage limits (25/50/10 in Indiana), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked.

Liability auto insurance

This coverage will cover damage or injury you incur to other’s property or people that is your fault. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.

Liability coverage pays for claims like pain and suffering, bail bonds, repair bills for other people’s vehicles and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford. Indiana requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying better liability coverage.

Collision coverage

Collision insurance pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things like driving through your garage door, backing into a parked car, rolling your car and hitting a parking meter. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. Another option is to increase the deductible to get cheaper collision coverage.

Medical payments coverage and PIP

Med pay and PIP coverage kick in for expenses for things like chiropractic care, rehabilitation expenses and X-ray expenses. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Even more information is available at the Indiana Department of Insurance website. Indiana drivers can find a variety of consumer forms, read consumer alerts, find out industry alerts, and discover disciplinary actions.

Other useful links include III.org’s auto insurance page and see this list of insurance agents in Bloomington.

In conclusion

Consumers switch companies for many reasons like questionable increases in premium, extreme rates for teen drivers, unfair underwriting practices or even poor customer service. It doesn’t matter why you want to switch finding a new auto insurance company can be pretty painless.

We covered a lot of ways to compare auto insurance prices online. The most important thing to understand is the more times you quote, the better your comparison will be. Consumers could even find that the best price on auto insurance is with a small local company.

When shopping online for auto insurance, it’s not a good idea to reduce coverage to reduce premium. There have been many cases where someone dropped comprehensive coverage or liability limits only to regret at claim time that the small savings ended up costing them much more. Your focus should be to purchase a proper amount of coverage at a price you can afford while still protecting your assets.