Here in Clear Lake, the cost of car insurance is determined by many different factors. Drivers may find that a quote from one insurer is drastically different than that of another – even for the same coverage. At Lillie-Couch Insurance, we know and understand the many different variables that could be affecting your car insurance rates. By shopping with us, we can help you better understand your personal risk factors, learn how to improve them, and find an insurer with competitive, favorable premiums on the coverage you need.
Factors that Affect Your Premiums
It is important to know what factors insurers use to set your rates so that you can better leverage them to your benefit. Examples of factors that affect your costs include:
- Your age and the age of all drivers listed on your policy
- The number of vehicles you are insuring on the same policy
- The make, model, and year of your vehicle
- The cost to replace your vehicle or to repair it locally
- The safety features on your vehicle, such as airbags or anti-theft alarms
- The number of miles you drive annually
- The primary purpose for operating your vehicle; business vs. pleasure
- The number of insurance claims you have made in the previous 5-7 years (including denied claims)
- The types of claims you have made in the past 5-7 years
- The number and severity of violations on your driving record
- The crime statistics in your neighborhood/city
- Your age, gender, and marital status
- Whether you are a homeowner and insure your home and auto with the same carrier
- The amount of your collision and comprehensive deductible (higher deductibles tend to yield lower rates)
Cutting Coverage Doesn’t Save
One of the things that factor into the cost of car insurance is, of course, the amount of coverage you select. However, this should never be a negotiable variable when it comes to purchasing a policy. Cutting down on your coverage might save a few bucks upfront, but it could leave you with a big, gaping hole that leaves you vulnerable to a major financial loss. Imagine lowering your liability protection only to cause a car accident that resulted in a $250,000 lawsuit. You would be on the hook for much more in injury and property damages than if you had kept your insurance protection intact.
There are much better alternatives when it comes to saving on car insurance. Instead of shopping around on your own or limiting yourself to a single insurance company, it is better to consult with an independent agent here at Lillie-Couch Insurance about your options. Our team is experienced in helping Wisconsin drivers find high-quality coverage at competitive rates. We can shop around on your behalf and show you how to achieve maximum savings through various discounts that may be available to you. Examples include:
- Claims-free discounts
- Safe driving discounts
- Low mileage discounts
- Good student discounts
- Multiple vehicle discounts
- Home and auto-bundling discounts
- Savings for enrolling in a driver safety education course
- And more
Call us today to find out more and to request your free quotes. We look forward to serving you soon.
