The recommended way to get cheaper car insurance rates in Louisville is to compare prices once a year from different companies in Kentucky. You can compare rates by following these guidelines.
Step 1: Try to comprehend the coverage provided by your policy and the changes you can make to keep rates down. Many rating criteria that result in higher prices such as speeding tickets, accidents and a lousy credit rating can be amended by making minor changes in your lifestyle. This article gives ideas to prevent high prices and find hidden discounts.
Step 2: Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or State Farm, while independent agencies can quote prices for a wide range of companies.
Step 3: Compare the new rate quotes to your current policy premium to see if cheaper Trax coverage is available in Louisville. If you find a better price and change companies, ensure there is no coverage lapse between policies.
An essential thing to point out is to compare the same amount of coverage on every price quote and and to get price estimates from as many car insurance companies as possible. This provides an accurate price comparison and a thorough selection of prices.
A study showed that nearly 70% of consumers kept their coverage with the same auto insurance company for at least the last four years, and practically 40% of auto insurance customers have never even compared quotes to find lower-cost rates. Louisville drivers can cut their rates by about 30% a year just by comparing rates, but most just don’t grasp how much savings they would realize if they just switched companies.
Reduce Insurance Rates with These Tips
Smart consumers have a good feel for some of the things that aid in calculating your policy premiums. If you have some idea of what controls the rates you pay, this allows you to make educated decisions that can help you get lower rates. Lots of things are used when quoting car insurance. Most are fairly basic like an MVR report, but some are not quite as obvious such as whether you are married or your financial responsibility.
The following are a partial list of the pieces car insurance companies consider when setting rates.
- A car insurance policy lapse can increase premiums – Having an insurance coverage lapse is a quick way to bump up your car insurance costs. Not only will you pay higher rates, not being able to provide proof of insurance might get you a steep fine or even jail time.
- Type of car determines base prices – The performance of the car you are buying insurance for makes a huge difference in determining your rates. The cheapest rates tend to be for the lowest performance passenger cars, but there are many factors that impact the final cost.
- Good credit equals lower premiums – A driver’s credit score can be an important factor in determining your rates. So if your credit history is lower than you’d like, you could pay less to insure your Chevrolet Trax if you clean up your credit. People with high credit ratings tend to be more responsible and file fewer claims as compared to drivers with lower credit ratings.
- Optional features impact prices – Driving a car with a theft deterrent system can earn a premium discount. Anti-theft devices such as OnStar, LoJack tracking, and tamper alarms help track and prevent your vehicle from being stolen.
- File claims and pay more – If you frequently file small claims, you can definitely plan on increased rates or even have your policy non-renewed. Insurance companies in Kentucky generally give cheaper rates to drivers who only file infrequent claims. Auto insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
Chevy Trax insurance loss probability – Insurers include the past claim history for a vehicle to help calculate a profitable premium price. Models that the statistics show to have a higher amount or frequency of claims will have higher rates for specific coverages. The table below outlines the insurance loss data for Chevy Trax vehicles.
For each policy coverage, the claim amount for all vehicles, regardless of make or model, is considered to be 100. Values that are below 100 indicate a favorable loss history, while numbers shown that are more than 100 indicate more frequent claims or an increased likelihood of larger losses.
Car Insurance Loss Data for Chevrolet Trax Models Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Trax 4dr 2WD 79 Chevrolet Trax 4dr 4WD 81BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Cheaper insurance is a realistic goal
As you go through the steps to switch your coverage, it’s a bad idea to reduce needed coverages to save money. In too many instances, someone dropped uninsured motorist or liability limits only to find out that a couple dollars of savings turned into a financial nightmare. Your objective should be to find the BEST coverage at the lowest possible cost, but do not sacrifice coverage to save money.
Affordable Chevy Trax insurance in Louisville is possible on the web as well as from insurance agents, so you should compare both in order to have the best chance of saving money. There are still a few companies who may not have price quotes online and usually these smaller providers prefer to sell through independent agents.
You just learned many tips how you can save on Chevy Trax insurance in Louisville. It’s most important to understand that the more companies you get prices for, the higher the chance of saving money. Consumers may even find the most savings is with an unexpected company. These companies may cover specific market segments cheaper compared to the large companies like Progressive or GEICO.
- Self-driving cars won’t replace humans (Insurance Institute for Highway Safety)
- What Insurance is Cheapest for Seniors in Louisville? (FAQ)
- How Much is Car Insurance for Young Drivers in Louisville? (FAQ)
- Who Has Cheap Louisville Auto Insurance Quotes for Drivers with Good Credit? (FAQ)
- How Much is Auto Insurance for a Nissan Rogue in Louisville? (FAQ)
- Who Has Cheap Auto Insurance for Teachers in Louisville? (FAQ)
- Who Has the Cheapest Louisville Auto Insurance for Handicapped Drivers? (FAQ)
- Who Has Cheap Louisville Car Insurance Rates for High Mileage Drivers? (FAQ)
- Safety Features for Your New Car (State Farm)
- Property Damage Coverage (Liberty Mutual)
- Understanding Limits and Deductibles (Allstate)
- Vehicle Safety Ratings (iihs.org)