Sick and tired of trying to scrape together enough money to insure your Audi every month? You are in the same boat as millions of other consumers.
Big-name insurance companies like State Farm and GEICO constantly blast consumers with fancy advertisements and it can be hard to separate fact from fiction and find the best price available.
If you currently have a car insurance policy, you should be able to save some money using these techniques. Buying car insurance is not rocket science. But consumers must know the way insurance companies sell online and take advantage of how the system works.
These eight discounts can slash auto insurance rates
Car insurance companies don’t list all available discounts in an easy-to-find place, so we researched both well-publicized and the harder-to-find discounts you could be receiving.
- Braking Control Discount – Vehicles equipped with ABS or steering control prevent accidents and earn discounts up to 10%.
- Payment Method – If paying your policy premium upfront instead of making monthly payments you could save 5% or more.
- One Accident Forgiven – A handful of insurance companies will allow you to have one accident before your rates go up if your claims history is clear for a set time period.
- Homeowners Pay Less – Simply owning a home may earn you a small savings because of the fact that having a home requires personal responsibility.
- Organization Discounts – Being a member of a qualifying organization could trigger savings when buying auto insurance for S8 insurance.
- Discount for Good Grades – Performing well in school can earn a discount of 20% or more. Earning this discount can benefit you until age 25.
- Multiple Cars – Buying coverage for all your vehicles on one policy can get a discount on all vehicles.
- Military Discounts – Having a deployed family member may qualify for rate reductions.
Keep in mind that most discounts do not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. So despite the fact that it appears it’s possible to get free car insurance, you’re out of luck.
For a list of insurers offering auto insurance discounts, click here to view.
But I prefer to buy car insurance from an agent
Some consumers would prefer to buy from a licensed agent and there is nothing wrong with that. The best thing about comparing insurance prices online is you may find the best rates and still have an agent to talk to.
To help locate an agent, after submitting this form (opens in new window), your insurance data gets sent to companies who will return price quotes to get your business. You don’t have to leave your house since price quotes are sent to the email address you provide. Get lower rates and work with a local agent.
Selecting an insurance company should depend on more than just the price. Ask your prospective agent these questions:
- Does the agent have professional designations like CIC, CPCU or AIC?
- Are they able to influence company decisions when a claim is filed?
- Do they assist clients in filing claims?
- If you have an accident, will your rates go up?
- Are claims handled at the agent’s location?
If you want to view licensed agents in your state, click here.
Once you have received positive feedback for all questions you ask as well as a affordable price, most likely you have located a company that can adequately provide auto insurance. But keep in mind you can always cancel a policy at any time so never feel that you’re stuck with a policy with no way to switch.
How can State Farm and Allstate save drivers who switch?
State Farm and Allstate constantly bombard you with ads on TV and radio. All the companies make an identical promise that you’ll save big if you switch to their company. But how can every company make almost identical claims? It’s all in the numbers.
Insurance companies are able to cherry pick for the right customer that makes them money. A good example of a preferred risk might be between the ages of 30 and 50, has no tickets, and chooses high deductibles. A propective insured who fits that profile will qualify for the lowest rates and most likely will save when they switch companies.
Consumers who do not match these standards will be quoted higher premiums and ends up with the driver buying from a lower-cost company. The ads say “people who switch” not “people who quote” save money. That is how insurance companies can claim big savings. This emphasizes why you need to get as many quotes as possible. It’s just too difficult to predict which company will fit your personal profile best.
What auto insurance coverages do you need?
Learning about specific coverages of auto insurance aids in choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. These are the usual coverages found on most auto insurance policies.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage provide coverage for immediate expenses for pain medications, chiropractic care, X-ray expenses, ambulance fees and dental work. They can be used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers if you are hit as a while walking down the street. PIP is not universally available and may carry a deductible
Collision coverage
This coverage covers damage to your S8 caused by collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims like sideswiping another vehicle, backing into a parked car, crashing into a ditch and hitting a parking meter. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.
Comprehensive insurance
Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims such as hitting a bird, rock chips in glass, a broken windshield and hail damage. The highest amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Auto liability insurance
Liability coverage provides protection from damages or injuries you inflict on other’s property or people in an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 which stand for $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property.
Liability insurance covers things such as medical services, structural damage, attorney fees and funeral expenses. How much coverage you buy is your choice, but consider buying as much as you can afford.
Uninsured/Underinsured Motorist (UM/UIM)
This protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. This coverage pays for injuries to you and your family as well as damage to your Audi S8.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Better coverage you can count on
You just read many ideas to save on Audi S8 insurance. The key thing to remember is the more price quotes you have, the better your comparison will be. Drivers may discover the biggest savings come from an unexpected company. These companies may only write in your state and offer lower rates as compared to the big name companies such as GEICO and State Farm.
Cost effective Audi S8 insurance is available both online and also from your neighborhood agents, and you need to price shop both to have the best rate selection. Some companies may not provide online price quotes and many times these small, regional companies only sell through independent insurance agents.
