Are you a sucker for premium quality offered at a steep discount? Do you have an eagle eye for a good price? If you consider yourself a savvy shopper, you already know how quickly the savings can add up. What you may not know is that the possibility for keeping more of your cash goes beyond goods and merchandise – it extends to your car insurance too. Continue reading to uncover the four facts about auto coverage that could save you hundreds.
Where You Live and Park Make a Difference
If you are deciding between a townhome in the city, a house in the suburbs or a sprawling ranch in the country, your choice could influence your car insurance rates. Wisconsin has some of the lowest car insurance rates in the country, with the average person spending just $621 for coverage in 2013. The average driver in the 53103 zip code of Big Bend, Wisconsin spends approximately $874 for insurance compared to drivers in the 53202 zip code of nearby Milwaukee who spend an average of $1,136. That is a savings of 23 percent based on location alone.
A Speeding Ticket Might Not Doom You to Higher Rates
Getting pulled over instantly fills you with questions: Will the officer give you a ticket? Will it go on your driving record? Will you face years of higher insurance premiums because of it? While it is true that traffic tickets can make a big difference in your premium, you may be happy to know that insurers in Wisconsin each have different formulas that place varying levels of risk on traffic tickets. Whereas one may charge more for a single speeding ticket, another may not raise rates until you have two or more.
Furthermore, different violations can impact your auto insurance quotes in different ways. According to Bankrate, reckless driving violations and driving under the influence (DUI) raise rates the most by an average of 82-93 percent. Rolling through a stop sign or getting caught driving just 5 miles over the speed limit, on the other hand, raises rates by an average of just 21 percent.
Steeper Discounts May Be Available for the Over-50 Crowd
Hitting the half-century mark could mean more than just a discount on movie tickets and your dinner bill; it could also translate to lower premiums. Car insurance companies know that drivers over age 50 tend to be more experienced on the road and more likely to exercise caution. While senior discounts will vary between insurers, Forbes reports that many companies offer lower rates to safe drivers ages 55-70. Further discounts may be available to mature drivers who drive less due to retirement.
Everything Matters – but How Much Depends Varies Between Insurers
Expect the results of your search for Wisconsin car insurance quotes to vary dramatically between insurers. Every company develops customized formulas used for assessing risk. That is why the same amount of coverage can cost hundreds more per year from one insurer than another. It could be that a low credit score costs you with one company, but is overlooked by another. That is why is pays to shop and compare rates from an independent agent who works on your behalf instead of a direct agent who works for the insurer. Here at
Smith Insurance and Financial Services, we work to find competitive premiums without sacrificing the high-quality coverage our customers expect from their insurers. To request your free Wisconsin auto insurance quotes or to find out more information about the factors that influence your premiums, contact our office.