Getting cheap quotes online is problematic for drivers not familiar with buying their insurance on the internet. With more and more insurers available, how can you possibly compare them all to find better rates?
A recent survey discovered that over 70% of consumers kept their coverage with the same insurance company for a minimum of four years, and virtually 40% of consumers have never even compared rates from other companies. Drivers in America could save roughly 46.5% each year by just comparing quotes, but they won't spend time to save money by comparing rate quotes.
It's smart to check insurance prices on a regular basis because prices are rarely the same from one policy term to another. Just because you had the best price on insurance at your last renewal there may be better deals available now. Forget anything you know (or think you know) about insurance because you're about to learn the fastest and easiest way to get good coverage on insurance at a lower rate.
If you have a policy now, you stand a good chance to be able to get lower rates using this strategy. Our objective is to instruct you on how car insurance companies work and how you can save the most money. But Virginia car owners must comprehend the methods companies use to market insurance on the web because rates are impacted by many factors.
Most companies like State Farm, Allstate and GEICO give prices direct online. Obtaining pricing doesn't take a lot of time because it's just a matter of typing in the coverages you want into a form. Once you submit the form, the quote system requests your credit score and driving record and returns a price.
Quoting online helps simplify price comparisons, and it is imperative to do this in order to get the lowest payment on car insurance.
To quickly find out how much you can save on car insurance, consider comparing rates from the companies shown below. If you have your current policy handy, we recommend you complete the form with the insurance coverages just like they are on your policy. This makes sure you are getting rate quotes based on the exact same insurance coverage.
The companies in the list below provide free rate quotes in Virginia. If multiple companies are listed, it's highly recommended you compare several of them to find the lowest car insurance rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Malibu Hybrid||$760||$380||$63|
|Chevrolet Silverado LT Crew Cab 2WD||$1,022||$511||$85|
|Dodge Ram Quad Cab TRX4 Off Road 2WD||$1,196||$598||$100|
|Ford Escape XLT 4WD||$774||$387||$65|
|Ford Explorer Limited 2WD||$796||$398||$66|
|Ford F-150 XLT Super Cab 4WD||$948||$474||$79|
|Ford Focus SES 2-Dr Coupe||$672||$336||$56|
|Honda Accord LX-S 2-Dr Coupe||$760||$380||$63|
|Honda CR-V EX-L 2WD||$580||$290||$48|
|Honda Civic GX 4-Dr Sedan||$1,140||$570||$95|
|Hyundai Elantra GLS Touring Station Wagon||$598||$299||$50|
|Kia Optima SX||$996||$498||$83|
|Nissan Altima 2.5 S 2-Dr Coupe||$776||$388||$65|
|Toyota Camry XLE||$746||$373||$62|
|Toyota Corolla S||$970||$485||$81|
|Volkswagen Jetta SEL 4-Dr Sedan||$734||$367||$61|
|Get Your Own Custom Quote Go|
Data variables include single female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate quotes do not factor in the specific area where the vehicle is garaged which can alter premiums noticeably.
Cost comparison with and without full coverage
The diagram below illustrates the difference between Ford Fusion insurance prices with liability coverage only compared to full coverage. Data assumes no claims or driving violations, $100 deductibles, married female driver, and no policy discounts are applied.
Ford Fusion rates are for example purposes only. To get rates for your specific vehicle, click here.
Guidelines for eliminating full coverage
There is no clear-cut formula that is best for determining when to drop physical damage coverage, but there is a general guideline. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let's assume your Ford Fusion claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $7,000 after the policy deductible has been paid. If you are currently paying more than $700 annually for full coverage, then it may be the right time to buy liability only.
There are some situations where dropping full coverage is not advised. If you haven't satisfied your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should maintain full coverage.
Can higher deductibles save money?
The illustration below shows how choosing a deductible and can change Dodge Ram annual premium costs for different age categories. The premium estimates are based on a married male driver, comp and collision included, and no discounts are taken into consideration.
Dodge Ram rates are for example purposes only. To get rates for your specific vehicle, click here.
Insurance policy discounts you can't miss
Insurance is not an enjoyable expense, but discounts can save money and there are some available that many consumers don't even know exist. A few discounts will automatically apply at the time you complete a quote, but a few must be asked for before you will receive the discount.
- Driver's Ed - Make teen driver coverage more affordable by requiring them to successfully take a driver's education course if it's offered in school.
- Save with a New Car - Buying a new car instead of a used car may earn a small discount because newer models have to meet stringent safety requirements.
- Fewer Miles Equal More Savings - Fewer annual miles could be rewarded with lower premium rates on the low mileage vehicles.
- Student Discounts - Maintaining excellent grades can earn a discount of 20% or more. This discount can apply up until you turn 25.
- Seat Belts Save - Requiring all passengers to use their safety belts can save up to 15% on medical payment and PIP coverage.
- Anti-lock Brake System - Cars with anti-lock braking systems are much safer to drive so companies give up to a 10% discount.
- Club Memberships - Being a member of qualifying employment or professional organizations is a good way to get lower rates when getting a Hampton car insurance quote.
- Pay Now and Pay Less - If paying your policy premium upfront rather than paying monthly you can avoid monthly service charges.
- Hampton Homeowners Discount - Just being a homeowner can save you money due to the fact that maintaining a home is proof of financial responsibility.
- Theft Deterrent - Vehicles that have factory alarm systems and tracking devices are less likely to be stolen and that can save you a little bit as well.
One thing to note about discounts is that some credits don't apply to your bottom line cost. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though it sounds like adding up those discounts means a free policy, insurance companies wouldn't stay in business.
A list of companies and their offered discounts are detailed below.
- Farm Bureau offers premium reductions for safe driver, driver training, renewal discount, youthful driver, 55 and retired, and good student.
- Liberty Mutual discounts include new vehicle discount, safety features, newly married, new move discount, and good student.
- State Farm policyholders can earn discounts including safe vehicle, anti-theft, Drive Safe & Save, good driver, and multiple autos.
- Auto-Owners Insurance offers discounts for teen driver, multiple vehicles, good student, company car, safe vehicle, multi-policy, and mature driver.
- GEICO offers discounts including multi-policy, emergency military deployment, defensive driver, federal employee, five-year accident-free, and anti-theft.
- SAFECO may include discounts for safe driver, anti-lock brakes, anti-theft, drive less, and teen safety rewards.
If you are trying to find inexpensive Hampton car insurance quotes, ask all companies you are considering how many discounts you can get. Depending on the company, some discounts might not be offered on policies everywhere. If you would like to see a list of insurers who offer free insurance quotes in Virginia, click here to view.
Why you need insurance for your vehicle
Despite the fact that insurance is not cheap in Hampton, insurance is a good idea for several reasons.
First, the majority of states have minimum mandated liability insurance limits which means state laws require a specific level of liability insurance in order to license the vehicle. In Virginia these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
Second, if you have a loan on your car, it's guaranteed your bank will make it a condition of the loan that you buy insurance to ensure loan repayment if the vehicle is totalled. If you default on your policy, the bank may buy a policy for your vehicle for a lot more money and require you to reimburse them much more than you were paying before.
Third, insurance safeguards not only your car but also your financial assets. It will also pay for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also pays expenses related to your legal defense if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of having insurance outweigh the cost, specifically if you ever have a liability claim. An average driver in America is currently overpaying as much as $810 a year so it's recommended you shop around at every policy renewal to be sure current rates are still competitive.
Keep in mind that when it comes to choosing a policy, there is no one-size-fits-all type of policy. Everyone's situation is unique.
For instance, these questions might point out whether or not you may require specific advice.
- What are good deductibles for a vehicle?
- Can my babysitter drive my car?
- Is my dog or cat covered if injured in an accident?
- Can I insure my car for more than it's worth?
- Can I get by with minimal medical coverage if I have good health insurance?
- Do I have coverage when making deliveries for my home business?
- Am I insured when driving a different vehicle?
- I have a DUI can I still get coverage?
If it's difficult to answer those questions but a few of them apply then you might want to talk to an agent. To find an agent in your area, complete this form.
When should I have guidance from an agent?
Certain consumers still prefer to sit down with an agent and that is not a bad decision A good thing about getting online price quotes is that you can obtain lower rates and also buy local. And providing support for local insurance agencies is definitely important in Hampton.
To make it easy to find an agent, after completing this short form, the coverage information gets sent to companies in Hampton that can give you free Hampton car insurance quotes to get your business. It's much easier because you don't need to find an agent because prices are sent immediately to your email address. You can get cheaper insurance rates without the usual hassles of price shopping. If you need to quote rates from a specific insurance company, you just need to navigate to their website to submit a rate quote request.
Not all auto insurance agents are the same
When searching for a local Hampton insurance agency, it's helpful to know the types of insurance agents and how they differ in how they quote coverages. Insurance agents can be categorized as either independent agents or exclusive agents depending on their employer.
Independent Agents (or Brokers)
Agents that choose to be independent are appointed with more than one company and that gives them the ability to insure with any number of different companies and find you the best rates. If they quote lower rates, the agent simply finds a different carrier which requires no work on your part. When comparing rate quotes, we recommend you compare quotes from a couple of independent agencies to ensure the widest selection of prices. Most can insure with smaller mutual companies that many times have cheaper rates.
Exclusive Insurance Agents
Agents of this type can only provide one company's prices such as Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents cannot provide other company's prices so they really need to provide good service. Exclusive insurance agents receive extensive training in insurance sales which helps offset the inability to provide other markets. Consumers often buy from the same agent for years mostly because of loyalty to the company instead of buying on price only.
Picking the best car insurance agent requires more thought than just the quoted price. Get answers to these questions too.
- Do you qualify for any additional discounts?
- Will one accident increase rates?
- When do they do policy reviews?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Has the agent ever had any license suspensions?
- Which companies do they recommend if they are an independent agency?
- Do they have any clout with companies to ensure a fair claim settlement?
- Are they involved in claim handling?