Nobody cherishes buying auto insurance, in particular when their premiums are through the roof. Insurance companies such as State Farm, Farmers Insurance, GEICO and Allstate increase brand awareness with ads and it is difficult to ignore the propoganda and do the work needed to find the best deal.
Factors determining your Chrysler Crossfire insurance premium
Consumers need to have an understanding of the different types of things that come into play when calculating the price you pay for auto insurance. Understanding what influences your rates empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.
The list below includes some of the items used by your company to calculate prices.
- Liability coverage is peace of mind – Liability insurance is the protection in the event that you are found liable for damages caused by your negligence. It will provide you with a defense in court which can cost thousands of dollars. Liability is cheap compared to physical damage coverage, so do not skimp.
- How credit affects auto insurance rates – A driver’s credit history is a large factor in determining what you pay for auto insurance. Therefore, if your credit score is not that good, you could save money insuring your Chrysler Crossfire by improving your credit score. People with excellent credit tend to be more responsible than those with lower credit scores.
- Rate your vehicle for proper use – Driving more miles each year the higher your rates will be. Almost all companies rate vehicles based on how the vehicle is used. Autos that are left in the garage get more affordable rates as compared to vehicles used primarily for driving to work. Having the wrong rating on your Crossfire may be wasting your money. Verify your auto insurance coverage is showing the proper vehicle usage.
- Do you need those extra coverages? – There are quite a few extra bells and whistles that you can get tricked into buying when buying auto insurance. Coverages like rental car reimbursement, accidental death and motor club memberships may be wasting your money. They may seem good when talking to your agent, but if you don’t need them get rid of them and save.
- Marriage brings a discount – Having a spouse can actually save you money on auto insurance. It is viewed as being more mature and responsible and it’s statistically proven that married couples file fewer claims.
- Equipment add-ons that lower auto insurance rates – Owning a car that has an advanced theft prevention system can get you a discount on your auto insurance. Theft prevention features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent car theft.
- A lapse in coverage is a bad thing – Allowing your auto insurance policy to lapse is a fast way to bump up your auto insurance costs. And not only will your rates increase, getting caught without coverage may earn you a revoked license or a big fine.
Cut your auto insurance rates with discounts
Insuring your vehicles can cost a lot, but discounts can save money and there are some available that you may not even be aware of. Most are applied when you complete an application, but less common discounts must be asked for before they will apply. If you aren’t receiving every discount available, you’re just leaving money on the table.
- Save with a New Car – Insuring a new car can be considerably cheaper because new vehicles have to meet stringent safety requirements.
- Payment Discounts – If you pay your bill all at once instead of monthly or quarterly installments you could save 5% or more.
- Own a Home – Owning a home may earn you a small savings due to the fact that maintaining a home demonstrates responsibility.
- Multiple Vehicles – Having multiple vehicles on one policy qualifies for this discount.
- Accident Forgiveness – Some insurance companies allow you one accident without raising rates if you are claim-free for a particular time prior to the accident.
- Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and therefore earn up to a 10% discount.
- Accident Free – Claim-free drivers can earn big discounts as compared to bad drivers.
- Paperless Signup – Some insurance companies give back up to $50 just for signing your application digitally online.
As a disclaimer on discounts, many deductions do not apply to the entire cost. The majority will only reduce specific coverage prices like medical payments or collision. So when it seems like you would end up receiving a 100% discount, companies wouldn’t make money that way. But any discount will help reduce the cost of coverage.
Are insurance agents a thing of the past?
Certain consumers just want to buy from a local agent and that is a personal choice. Agents are trained to spot inefficiencies and help in the event of a claim. The best thing about comparing insurance prices online is that you can obtain better rates and still choose a local agent. Buying from local businesses is important particularly in smaller rural communities.
By using this short form, the coverage information is transmitted to agents in your area who will compete for your insurance coverage. You don’t have to even leave your home since price quotes are sent directly to your email. How cool is that?!
Pick the best insurance agent for you
When searching for a good insurance agent, you must know there are a couple types of agencies that you can select. Agents are categorized either independent or captive. While both can do a good job, but it’s important to know how they differ since it may influence the type of agent you choose
Independent Insurance Agents
Independent insurance agents are not employed by any specific company so they can insure your vehicles with many different companies enabling the ability to shop coverage around. If you are not satisfied with one company, an independent agent can move your coverage without you having to go to a different agency.
When comparing rates, it’s a good idea to contact multiple independent agents to ensure the widest selection of prices.
Agency Captives
This type of agents work for only one company and examples are AAA, Allstate, State Farm, Farmers Insurance or Liberty Mutual. They usually cannot place coverage with different providers so always compare other rates. Captives are very knowledgeable on their products and sales techniques which can be an advantage.
For a complete listing of agencies, click here.
Choosing a car insurance agent needs to be determined by more than just the bottom line cost. These questions are important to ask:
- Do they receive special compensation for putting your coverage with one company over another?
- Are there any discounts that you might be missing?
- How long has their agency been open?
- Is vehicle damage repaired with OEM or aftermarket parts?
- How much will you save each year by using a higher deductible?
- Does the agency support the community they serve?
- Will your rates increase after a single accident?
- Are there any hidden costs in their price quote and does it include driving and credit history?
Once you have acceptable answers for all questions you ask and a low price estimate, it’s possible that you found an insurance agency that is a good match to properly service your auto insurance policy.
Better coverage you can count on
In this article, we covered a lot of techniques to lower your Chrysler Crossfire insurance rates. The most important thing to understand is the more providers you compare, the better likelihood of reducing your rate. You may even discover the lowest rates come from some of the lesser-known companies. Regional companies can often provide lower rates in certain areas compared to the large companies like Allstate or State Farm.
As you restructure your insurance plan, it’s not a good idea to reduce needed coverages to save money. In many instances, consumers will sacrifice uninsured motorist or liability limits and discovered at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to purchase a proper amount of coverage for the lowest price, not the least amount of coverage.
Cheaper Chrysler Crossfire insurance is available on the web and with local insurance agents, so you should compare both to get a complete price analysis. Some insurance companies do not offer the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.
