The best way we recommend to find cheaper quotes for car insurance rates is to regularly compare quotes from different companies in Virginia Beach. This can be done by following these steps.
Step 1: Get a basic knowledge of the coverage provided by your policy and the measures you can control to keep rates in check. Many policy risk factors that result in higher prices such as at-fault accidents, speeding tickets, and a substandard credit score can be rectified by making small lifestyle or driving habit changes.
Step 2: Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give prices from one company like GEICO and State Farm, while independent agencies can provide prices from multiple insurance companies.
Step 3: Compare the new rate quotes to your existing rates and determine if there is any savings. If you find a lower rate quote and change companies, make sure there is no lapse in coverage.
Step 4: Provide notification to your current company of your intention to cancel your current policy. Submit the application along with any required down payment for the new policy. Once the application is submitted, safely store the proof of insurance paperwork with your registration paperwork.
An important note is that you’ll want to make sure you compare similar coverage information on each price quote and and to get prices from every insurance company. Doing this guarantees a level playing field and the most accurate and complete price analysis.
Astonishing but true according to a recent study, the vast majority of drivers renewed their policy with the same company for at least the last four years, and just short of a majority have never even compared quotes to find lower-cost rates. With the average premium in the United States being $1,847, drivers could save themselves almost $860 a year, but they don’t know the amount of savings they would get if they just switched companies.
Buy Lower-cost Car Insurance with These Tips
Consumers need to have an understanding of a few of the rating criteria that are used to determine your car insurance rates. If you have a feel for what determines base rates, this helps enable you to make changes that could result in better car insurance rates. Lots of things are part of the calculation when pricing auto insurance. Most are fairly basic like an MVR report, although others are less obvious like where you live and annual miles driven.
Shown below are some of the most rate-impacting factors used by your company to calculate prices.
- Pay less with a high IIHS safety rating – Safer cars tend to have lower insurance rates. These vehicles result in less severe injuries and lower injury rates translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your Ford Fiesta scored at minimum four stars on Safercar.gov you may qualify for a discount.
- You may save more by bundling policies – Lots of car insurance companies will award a discount to customers that have more than one policy, otherwise known as a multi-policy discount. Discounts can be anywhere from five to ten percent in most cases. Even with this discount applied, you still need to check prices from other companies to make sure you are getting the best deal. You may still save even more than the discount by buying from different companies
- Improve your credit score – Your credit score can be a huge factor in determining what you pay. People that have excellent credit tend to be more responsible and file fewer claims than drivers who have poor credit scores. If your credit rating can be improved, you could be paying less to insure your Ford Fiesta if you clean up your credit.
- Prevent theft and save – Buying a car with anti-theft technology or alarm system can help bring down rates. Theft prevention devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart vehicle theft.
- Single drivers may get higher prices – Walking down the aisle may save some money on your car insurance policy. Having a significant other means you’re more mature than a single person and statistics show being married results in fewer claims.
- Avoid unnecessary extra policy coverages – There are quite a few additional extra coverages that can waste your money on your car insurance policy. Add-on coverages like personal injury protection, towing coverage, and membership fees may be wasting your money. These coverages may sound good when discussing your needs, but if you don’t need them consider taking them off your policy.
Ford Fiesta statistical loss data – Car insurance companies analyze the history of losses to help determine the rate you pay. Models that are shown to have higher number or severity of losses will be charged more to insure. The table below demonstrates the historical loss data for Ford Fiesta vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, regardless of make or model, is equal to 100. Numbers under 100 represent a good loss history, while percentage numbers above 100 indicate more frequent losses or an increased chance of larger losses than average.
Ford Fiesta Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Ford Fiesta 96 91 73 115 123 113BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Discounts mean cheaper rates for Ford Fiesta insurance in Virginia Beach
Some providers don’t always list all available discounts very well, so we researched some of the best known and the harder-to-find credits that you can use to lower your rates.
- Discount for Home Ownership – Just being a homeowner can save you money because owning a home requires a higher level of personal finance.
- Employee of Federal Government – Federal government employees could qualify for a slight premium decrease depending on your car insurance provider.
- Passive Restraint Discount – Vehicles equipped with air bags or automatic seat belts may earn rate discounts of 20 to 30 percent.
- Bundled Policy Discount – When you combine your home and auto insurance and insure them with the same company you could earn a discount of approximately 10% to 15%.
- E-sign – Some larger companies will provide an incentive for buying your policy over the internet.
- ABS Brakes – Anti-lock brake equipped vehicles prevent accidents and the ABS can save up to 10%.
- Low Mileage Discounts – Fewer annual miles on your Ford could be rewarded with substantially lower premium rates.
- Anti-theft System – Cars, trucks, and SUVs equipped with anti-theft or alarm systems can help prevent theft so companies will give you a small discount.
- Life Insurance Discount – If the company offers life insurance, you could get a break if you buy a life insurance policy as well.
You can save money using discounts, but some credits don’t apply to the entire cost. Some only reduce specific coverage prices like comprehensive or collision. Even though the math looks like having all the discounts means you get insurance for free, you won’t be that lucky.
The best car insurance companies and a partial list of their discounts are shown below.
- Farm Bureau may include discounts for renewal discount, driver training, multi-vehicle, good student, 55 and retired, and youthful driver.
- MetLife offers discounts including good driver, defensive driver, accident-free, good student, and claim-free.
- Progressive includes discounts for multi-vehicle, online quote discount, continuous coverage, multi-policy, and online signing.
- AAA may have discounts that include good driver, pay-in-full, education and occupation, multi-car, anti-theft, good student, and AAA membership discount.
- American Family offers premium reductions for bundled insurance, early bird, TimeAway discount, good student, mySafetyValet, and accident-free.
- GEICO discounts include defensive driver, federal employee, membership and employees, anti-lock brakes, multi-vehicle, and seat belt use.
- State Farm may offer discounts for multiple autos, Steer Clear safe driver discount, accident-free, good driver, and Drive Safe & Save.
It’s a good idea to ask each insurance company the best way to save money. Depending on the company, some discounts may not be offered in Virginia Beach. To see providers that can offer you the previously mentioned discounts in Virginia, click this link.
Cheap car insurance rates are out there
Budget-conscious Ford Fiesta insurance can be purchased from both online companies as well as from insurance agents, so you need to quote Virginia Beach auto insurance with both to have the best rate selection. There are still a few companies who may not provide the ability to get a quote online and many times these small, regional companies sell through independent insurance agencies.
As you quote Virginia Beach auto insurance, make sure you don’t skimp on critical coverages to save a buck or two. There are too many instances where drivers have reduced full coverage and found out when filing a claim that it was a big mistake. Your objective should be to purchase plenty of coverage for the lowest price but still have enough coverage for asset protection.
Additional detailed information is located at these sites:
- Car Insurance: When not to Skimp (BankRate.com)
- Who Has Cheap Auto Insurance for a Toyota Tacoma in Virginia Beach? (FAQ)
- What Insurance is Cheapest for a Subaru Forester in Virginia Beach? (FAQ)
- Understanding Limits and Deductibles (Allstate)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- State Laws for Cellphones and Texting (iihs.org)