Are you baffled by the dozens of insurance companies available to you? You're not alone. You have such a vast assortment of companies available that it can be a chore to find better rates. If you've ever been there, you know that Vincennes is the perfect city to reside in, but high insurance prices makes it impossible to buy proper levels of coverage.
It's hard to fathom, but about 70% of customers have purchased from the same company for over three years, and practically 40% of insurance customers have never even compared quotes to find affordable rates. Many consumers in Vincennes could save themselves about 55% a year just by comparing rates, but most undervalue the rate savings if they changed companies.
It is always a good idea to compare rates yearly because prices fluctuate regularly. Just because you found the best deal on insurance on your last policy other companies may now be cheaper. You can find a lot of wrong information about insurance on the internet, but you can learn a bunch of ideas how to lower your insurance rates in Vincennes.
There are several ways to compare quotes from all the different companies. The best way to comparison shop involves getting comparison quotes online. When price shopping your coverage, comparing more prices provides better odds of finding better pricing. Not every company provides quotes online, so it's necessary to compare price estimates from them as well.
The car insurance companies shown below can provide price comparisons in Vincennes, IN. If multiple companies are shown, it's a good idea that you get rates from several of them to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Crew Cab 4WD||$928||$464||$77|
|Chevrolet Impala LT||$744||$372||$62|
|Chevrolet Silverado LT Extended Cab 2WD||$786||$393||$66|
|Dodge Grand Caravan SE||$944||$472||$79|
|Dodge Ram Crew Cab Laramie 2WD||$992||$496||$83|
|Ford Edge SE AWD||$1,068||$534||$89|
|Ford Escape XLT 2WD||$552||$276||$46|
|Ford F-150 FX2 2WD||$762||$381||$64|
|Ford Focus S 4-Dr Sedan||$824||$412||$69|
|Ford Fusion S 4-Dr Sedan||$1,000||$500||$83|
|GMC Sierra SLE Regular Cab 2WD||$740||$370||$62|
|Honda Accord EX 4-Dr Sedan||$1,018||$509||$85|
|Honda CR-V EX-L 4WD||$846||$423||$71|
|Honda Civic EX-L 4-Dr Sedan||$824||$412||$69|
|Hyundai Sonata Limited 4-Dr Sedan||$1,230||$615||$103|
|Jeep Grand Cherokee Limited 2WD||$906||$453||$76|
|Nissan Altima Hybrid 4-Dr Sedan||$960||$480||$80|
|Toyota Camry XLE||$940||$470||$78|
|Toyota Corolla S||$902||$451||$75|
|Get Your Own Custom Quote Go|
Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, multi-policy, and safe-driver. Information does not factor in Vincennes location which can lower or raise premiums noticeably.
Does it make sense to buy full coverage?
The example below shows the difference between Ford Fusion premium costs with full coverage compared to only the Indiana minimum liability coverage. The information is based on a clean driving record, no at-fault accidents, $1,000 deductibles, single female driver, and no discounts are factored in.
Ford Fusion rates are for example purposes only. To get rates for your specific vehicle, click here.
Should you pay for full coverage?
There is no exact formula of when to stop paying for comprehensive and collision coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle's replacement cost less your deductible, then you may want to consider only buying liability coverage.
For example, let's assume your Ford Fusion replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $2,000 after the deductible is paid. If you are paying more than $200 annually for full coverage, then you may need to consider dropping full coverage.
There are some situations where dropping full coverage is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan requirements. Also, if you can't afford to buy a different vehicle in the even your car is totaled, you should not remove full coverage.
Safe drivers pay less for auto insurance
The information below shows how speeding tickets and fender-benders raise Ford F-150 insurance costs for each different age category. Data assumes a single female driver, comp and collision included, $100 deductibles, and no discounts are applied to the premium.
Ford F-150 rates are for example purposes only. To get rates for your specific vehicle, click here.
Are you obtaining every discount?
Insurance can be prohibitively expensive, but you might find some hidden discounts that can help lower your rates. A few discounts will be applied at quote time, but a few must be asked for in order for you to get them.
- Student Driver Training - Make teen driver coverage more affordable by requiring them to successfully take a driver's education course if offered at their school.
- Discount for Life Insurance - Not every insurance company offers life insurance, but if they do you may earn a small discount if you purchase a life policy as well.
- Renewal Discounts - Some insurance companies give discounts for signing up before your current policy expires. It could save around 10% when you buy Vincennes car insurance online.
- Professional Memberships - Being in specific professional or occupational memberships or organizations is a simple method to lower premiums on your next insurance statement.
- Federal Government Employee - Active or retired federal employment may qualify for a discount when you quote Vincennes car insurance depending on your insurance provider.
- Anti-lock Brake Discount - Cars and trucks that have steering control and anti-lock brakes have fewer accidents and therefore earn up to a 10% discount.
- Onboard Data Collection - Insureds that choose to allow their company to track when and where they use their vehicle by using a telematic data system such as Drivewise from Allstate or Snapshot from Progressive may see discounts if they show good driving skills.
- Vincennes Homeowners Pay Less - Simply owning a home can save you money since owning and maintaining a home is proof of financial responsibility.
- College Student Discount - Older children who are enrolled in a college that is more than 100 miles from Vincennes and do not have access to a covered vehicle can receive lower rates.
As a disclaimer on discounts, some credits don't apply to your bottom line cost. Most only apply to the price of certain insurance coverages like medical payments or collision. Just because you may think all the discounts add up to a free policy, you won't be that lucky.
A few popular companies and a selection of discounts are outlined below.
- Farm Bureau offers discounts for youthful driver, good student, safe driver, driver training, and multi-vehicle.
- Liberty Mutual may have discounts that include preferred payment discount, newly married, new graduate, multi-policy, good student, exclusive group savings, and multi-car.
- State Farm offers discounts including good student, Steer Clear safe driver discount, safe vehicle, Drive Safe & Save, and driver's education.
- Auto-Owners Insurance policyholders can earn discounts including good student, multiple vehicles, safe driver, anti-theft, and paid in full.
- GEICO includes discounts for air bags, federal employee, anti-theft, military active duty, multi-policy, multi-vehicle, and driver training.
- SAFECO has discounts for teen safe driver, drive less, bundle discounts, anti-theft, anti-lock brakes, safe driver, and accident prevention training.
Double check with each company the best way to save money. Some credits may not apply to policyholders in Vincennes. To see insurance companies with the best discounts in Vincennes, click this link.
Informed drivers can reduce your rates
Smart consumers have a good feel for the rating factors that help determine the price you pay for auto insurance. If you know what positively or negatively impacts your premiums, this allows you to make educated decisions that could result in big savings. Many things are part of the calculation when you get your auto insurance bill. Most are fairly basic like your driving record, but others are less apparent like where you live or your commute time.
The following are some of the items used by companies to determine rates.
- Deter vehicle theft - Selecting a car model that has an advanced theft prevention system can help bring down rates. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all aid in stopping car theft and help bring rates down.
- Maintain auto insurance coverage - Having a lapse in insurance coverage can be a quick way to increase your auto insurance rates. In addition to paying higher rates, failure to provide proof of insurance could result in fines or a revoked license.
- Lower premiums for cars with good safety ratings - Vehicles with high crash test scores tend to have better insurance rates. Vehicles built for safety protect occupants better and lower injury rates means lower claim amounts which can result in lower premiums.
- Where you live can impact premiums - Residing in smaller towns and rural areas of the country is a positive aspect when buying auto insurance. City drivers regularly have congested traffic and longer commutes to work. Less people living in that area means fewer accidents in addition to lower liability claims
- Single drivers take more risk - Getting married can actually save you money on your auto insurance policy. It translates into being more mature it has been statistically shown that being married results in fewer claims.
- Low stress job equals lower rates - Careers such as real estate brokers, airline pilots, and financial analysts are shown to have higher premiums than the average policyholder due to intense work requirements and incredibly demanding work hours. On the flip side, occupations like actors, historians and the unemployed pay lower than average rates.
- Poor credit can mean higher prices - Having a bad credit score is a large factor in determining premium rates. People that have good credit tend to be better risks to insure as compared to drivers with poor credit. If your credit is not that good, you may save money insuring your vehicle if you improve your credit rating.
Choosing the best vehicle insurance in Indiana is an important decision
Even though it's not necessarily cheap to insure a vehicle in Vincennes, insuring your vehicle may be required and benefits you in several ways.
First, the majority of states have compulsory liability insurance requirements which means you are required to buy a minimum amount of liability insurance coverage in order to license the vehicle. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you took out a loan on your car, it's guaranteed your bank will make it mandatory that you carry insurance to ensure they get paid if you total the vehicle. If the policy lapses, the bank may insure your vehicle for a lot more money and require you to reimburse them a much higher amount than you were paying before.
Third, insurance protects both your assets and your car. It also can pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, will also pay attorney fees if you are named as a defendant in an auto accident. If your vehicle gets damaged, your auto insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of buying auto insurance are without a doubt worth the cost, particularly if you ever have a claim. Despite what companies tell you, the average driver overpays more than $850 per year so compare rates at least once a year to make sure the price is not too high.
Compare. Compare. Compare.
Cheaper insurance in Vincennes is attainable from both online companies and from local agencies, so you should be comparing quotes from both to have the best chance of lowering rates. Some insurance companies may not have online price quotes and most of the time these small insurance companies only sell through independent agents.
We just presented a lot of ways to reduce insurance premium rates online in Vincennes. The key concept to understand is the more providers you compare, the better chance you'll have of finding cheap Vincennes car insurance quotes. Drivers may even discover the best premium rates are with some of the lesser-known companies.
As you prepare to switch companies, it's not a good idea to sacrifice coverage to reduce premiums. There have been many situations where an accident victim reduced liability coverage limits only to find out that they should have had better coverage. Your objective should be to get the best coverage possible at a price you can afford while not skimping on critical coverages.
For more information, take a look at the articles below:
- Distracted Driving (Insurance Information Institute)
- Who Has Affordable Indiana Auto Insurance for High Mileage Drivers? (FAQ)
- How Much are Auto Insurance Quotes for Good Students in Indiana? (FAQ)
- Who Has the Cheapest Indiana Car Insurance Quotes for a Toyota Tacoma? (FAQ)
- What Insurance is Cheapest for a Toyota Corolla in Indiana? (FAQ)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Auto Theft Statistics (Insurance Information Institute)
- Collision Insurance Coverage (Nationwide)
- Insurance losses by make and model (Insurance Institute for Highway Safety)