Do you know which car insurance discounts you qualify for? Are you intimidated or frustrated by the time and effort it takes to compare car insurance quotes from Wisconsin’s top carriers? At Philleo Agency Insurance, we understand the hurdles that drivers must overcome simply to find a fair rate for coverage. Continue reading at philleo.com to discover the top five signs you may be paying too much for car insurance.
1. You are paying more than the average driver for coverage
According to the Insurance Information Institute, the average driver paid $815 for auto insurance premiums in 2012. Wisconsin is among the lowest cost states for auto insurance premiums, with an average of just $598.84 the same year. If your costs exceed these averages, it may be time to find out if you qualify for any discounts.
2. You recently got married
As odd as it may seem, you may qualify for a discount on car insurance if you recently got married. Since data suggests that young people who are married are less likely to be involved in an accident than those who are unmarried, insurers may offer lower premiums after you walk down the aisle.
3. Your finances have improved
Some insurers may consider your money management skills when measuring your overall risk. A low credit score may signal higher risk, thus raising the amount you pay for your premiums. If your credit has improved since you purchased your policy; however, you may be paying too much for coverage if your rates have stayed the same.
4. You drive less than before
Many insurance companies offer discounts to drivers who put low mileage on their vehicles each year. If you recently left your job to be a stay-at-home parent, or if you started carpooling and taking advantage of public transportation, your insurance premiums should reflect these changes. Make a note to talk with your insurer about a low mileage discount.
5. You haven’t shopped around for car insurance quotes in a few years
Drivers should evaluate their coverage needs and shop for new car insurance every six to twelve months. If you are not comparing rates at least once per year, you could be missing out on savings. Several factors outside of your control, including the economy, and crime rates where you live can contribute to changes in your premiums. Since each insurer places different weight on these
Compare Price & Coverage
The Insurance Information Institute warns that it is never a good idea to compare car insurance quotes by cost alone, as affordability is only one factor of the equation. After all, a low rate could cost you thousands in future unpaid damages if you sacrifice the value of your coverage for upfront savings. That is why we recommend shopping for coverage with an independent agency, such as Philleo Agency Insurance here in Brookfield, Wisconsin. We can help you compare rates and coverage from several of Wisconsin’s leading insurance providers until we find an affordable policy that fits your needs. Contact us today to request your car insurance quotes. We look forward to serving you soon.