Amazingly, a recent NerdWallet.com study showed that the vast majority of insurance customers kept their policy with the same company for well over three years, and approximately 38% of consumers have never compared rates with other companies. Virginia drivers could save an average of as much as $548 each year by just comparing rate quotes, but they just don’t understand how much savings they would realize if they changed companies.
Truthfully, the best way to get discount Dodge Magnum insurance in Virginia Beach is to start comparing prices regularly from insurance carriers in Virginia. You can compare prices by following these steps.
First, gain an understanding of how insurance works and the factors you can control to lower rates. Many rating criteria that increase rates such as getting speeding tickets and a poor credit score can be remedied by paying attention to minor details.
Second, quote rates from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agencies can provide rate quotes from multiple sources.
Third, compare the new rate quotes to your current policy premium to see if you can save by switching companies. If you find a lower rate and switch companies, ensure coverage does not lapse between policies.
Fourth, tell your current company to cancel your current auto insurance policy and submit the application along with any required down payment to your new company or agent. Once the paperwork is finalized, store the certificate verifying proof of insurance along with your vehicle registration.
A good piece of advice is to try to compare the same deductibles and limits on each quote request and and to look at as many companies as feasibly possible. This provides an accurate price comparison and the best rate selection.
Finding the cheapest car insurance coverage in Virginia Beach is actually not that difficult if you follow our advice. If you have coverage now or just want a better rate, use these cost-cutting techniques to get lower rates without reducing coverage. Comparison shoppers only have to learn the fastest way to compare rates from multiple carriers.
Affordable Virginia Beach car insurance rates with discounts
Car insurance is expensive, but discounts can save money and there are some available to cut the cost considerably. Many discounts should be triggered at the time you complete a quote, but some discounts are required to be inquired about before you will receive the discount.
- Responsible Driver Discounts – Drivers who don’t get into accidents may save up to 50% more than drivers with accidents.
- Fewer Miles Equal More Savings – Fewer annual miles on your Dodge could earn discounted premium rates on garaged vehicles.
- Discounts for Government Workers – Employees or retirees of the government could provide a small rate reduction but check with your company.
- Good Grades Discount – A discount for being a good student can get you a discount of up to 25%. The discount lasts until age 25.
- Accident Forgiveness – Not really a discount, but a few companies such as GEICO and Allstate may permit one accident without getting socked with a rate hike if you have no claims for a particular time prior to the accident.
We need to note that many deductions do not apply to the overall cost of the policy. Some only reduce individual premiums such as medical payments or collision. If you do the math and it seems like it’s possible to get free car insurance, companies don’t profit that way.
Larger car insurance companies and some of the discounts are detailed below.
- GEICO policyholders can earn discounts including anti-theft, military active duty, membership and employees, multi-vehicle, driver training, emergency military deployment, and air bags.
- Travelers may include discounts for good student, home ownership, multi-car, hybrid/electric vehicle, payment discounts, driver training, and continuous insurance.
- Nationwide discounts include easy pay, Farm Bureau membership, anti-theft, good student, and family plan.
- Farmers Insurance offers premium reductions for mature driver, distant student, pay in full, alternative fuel, teen driver, and multi-car.
- Esurance offers discounts for good driver, safety device, homeowner, paid-in-full, claim free, multi-car, and DriveSense.
- State Farm has savings for passive restraint, multiple autos, good student, multiple policy, accident-free, and student away at school.
- Progressive offers discounts including multi-policy, homeowner, online quote discount, good student, multi-vehicle, and online signing.
- Mercury Insurance has discounts for multi-car, type of vehicle, annual mileage, accident-free, and good driver.
When quoting, ask each insurance company how many discounts you can get. Some discounts may not apply to policyholders in Virginia Beach.
Parts of your auto insurance policy
Knowing the specifics of auto insurance aids in choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Below you’ll find the usual coverages offered by auto insurance companies.
This coverage covers damage to your Magnum from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims such as sideswiping another vehicle, crashing into a building, driving through your garage door and crashing into a ditch. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible on your Magnum to save money on collision insurance.
Coverage for medical expenses
Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses for things like ambulance fees, surgery, hospital visits and chiropractic care. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants as well as being hit by a car walking across the street. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage
Comprehensive auto insurance
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like rock chips in glass, damage from flooding and a tree branch falling on your vehicle. The most you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Liability auto insurance
This coverage provides protection from damage that occurs to a person or their property that is your fault. Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 25/50/20 which stand for $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and property damage coverage for $20,000.
Liability coverage pays for things such as structural damage, pain and suffering and medical expenses. How much liability coverage do you need? That is up to you, but buy as much as you can afford. Virginia requires drivers to carry at least 25/50/20 but it’s recommended drivers buy more liability than the minimum.
The chart below shows why buying minimum limits may not be high enough to cover claims.
Coverage for uninsured or underinsured drivers
Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Dodge Magnum.
Since a lot of drivers have only the minimum liability required by law (25/50/20), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family.
More effort can pay off
We covered quite a bit of information on how to get a better price on Dodge Magnum insurance in Virginia Beach. The most important thing to understand is the more providers you compare, the better your comparison will be. Consumers could even find that the best price on car insurance is with a small mutual company. These smaller insurers may cover specific market segments cheaper than the large multi-state companies such as State Farm or Progressive.
Cheaper car insurance in Virginia Beach can be purchased both online as well as from insurance agents, and you need to comparison shop both so you have a total pricing picture. Some car insurance companies don’t offer the ability to get quotes online and these small, regional companies only sell through independent insurance agencies.
To learn more, feel free to browse the resources below:
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- How Much are Car Insurance Quotes for Drivers with Accidents in Virginia Beach? (FAQ)
- Who Has Affordable Virginia Beach Car Insurance Rates for Low Income Drivers? (FAQ)
- Should I Purchase an Umbrella Liability Policy? (Insurance Information Institute)
- Property Damage Coverage (Liberty Mutual)
- Safe Vehicles for Teens (iihs.org)
- All About Airbag Safety (State Farm)