Do you receive your monthly bill for car insurance only to wonder if you could be overpaying? You know the importance of having quality coverage that meets your needs and protects you from the unexpected, but that does not mean you should empty your wallet to pay for it. Unfortunately, if you are like many people in Wisconsin, you could be paying too much for coverage. This is especially true considering Wisconsin boasts some of the most car insurance discounts in the nation. Continue reading to learn more about the top three ways you could be overpaying for your coverage and find out ways you can lower your car insurance quote.
1. You Sign Up for Coverage and Pay On-Time
The early bird always gets the worm, but who would have thought that you could be penalized for being on-time? While technically not a penalty, waiting to purchase or renew your auto insurance when your old policy expires could be costing you money. We recommend reviewing your auto insurance policy on a regular basis to ensure it is still meeting your needs and to verify that you have not qualified for any additional discounts. Some insurance companies offer as much as a 10 percent discount if you request a quote and switch coverage one week or more before your existing policy expires and do not have a lapse in coverage.
Keep up with your early habits, and you could see even greater savings. If you elect to pay your car insurance premiums in full instead of in monthly installments, you could save an average of 9 percent per year on coverage. It may not sound like a lot, but that number alone can easily add up to $150 per year or more for two drivers with vehicles insured on the same policy.
2. You Use Multiple Insurance Providers
Shopping around is always a good thing – especially when it nets you steep discounts. However, ordering a la carte is not always the most cost-efficient option when it comes to your car insurance. Many insurance providers offer tremendous savings for grouping your auto insurance policy with other coverage types, such as homeowners insurance. Sometimes a multi-policy discount can compensate for combined premium costs with average savings of 9 percent.
3. You Do Not Talk with Your Agent
If you only talk to your insurance agent when you purchase a new vehicle or need to file a claim, you could be missing out on serious discounts. After all, your insurance agent is not just the person who provides you with car insurance quotes from time to time – this is the person who partners with you to provide you with the maximum possible savings.
If you never meet with or talk to your insurer, you may be failing to provide some valuable information. For example, your agent may be able to procure discounts on your car insurance premiums after significant life events, such as getting married, moving to a new address, entering retirement, or sending a child off to college. Even choosing to work from home or be a stay-at-home parent may result in lower premiums if it means you are driving less than before.
Remember, never sacrifice quality for affordability. If you live in the greater Big Bend, Wisconsin area and would like to explore the auto coverage discounts that may be available to you, contact the team here at Smith Insurance and Financial Services. We can help you navigate your options and provide you with free, no-obligation car insurance quotes on coverage that meet your needs.