No one in their right mind cherishes buying car insurance, especially when the price is too high. Because there are so many options when it comes to car insurance, it can be challenging to choose the right car insurance company.
It’s a great practice to price shop coverage on a regular basis since rates are variable and change quite frequently. Even if you got the best rates on Phantom coverage a few years ago a different company probably has better rates today. You can find a lot of wrong information about car insurance on the internet, so I’m going to show you the best ways to quit paying high car insurance rates.
Choosing the best insurance company for you is not rocket science. If you currently have car insurance, you will most likely be able to reduce your rates substantially using this information. Drivers just need to learn how to get comparison rates over the internet.
Take discounts and save
Companies don’t list all their discounts in an easy-to-find place, so here is a list both well-publicized and the more hidden ways to save on car insurance. If they aren’t giving you every credit possible, you’re paying more than you need to.
- Seat Belts Save – Buckling up and requiring all passengers to use their safety belts can save 10% or more off your medical payments premium.
- Accident Forgiveness – Certain companies allow you one accident before your rates go up so long as you haven’t had any claims for a certain period of time.
- Homeowners Pay Less – Owning a home can save you money because owning a home shows financial diligence.
- Auto/Life Discount – Companies who offer life insurance give better rates if you take out a life insurance policy as well.
- Anti-lock Brake System – Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
- Discount for New Cars – Buying coverage on a new vehicle is cheaper since new cars are generally safer.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems help deter theft and qualify for as much as a 10% discount.
- Driver Safety – Taking a driver safety course could cut 5% off your bill if you qualify.
- Good Student Discount – A discount for being a good student can save 20 to 25%. The discount lasts until age 25.
Keep in mind that most of the big mark downs will not be given to the entire policy premium. The majority will only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though it may seem like you can get free auto insurance, it doesn’t quite work that way.
To choose insurance companies with discount car insurance rates, follow this link.
Compare Car Insurance Costs
All the larger car insurance companies like State Farm, Allstate and GEICO quote price estimates on their websites. This process is quite easy as you simply type in the coverage amounts you desire into a form. After the form is submitted, their system orders credit information and your driving record and returns a price quote based on these factors. Quoting online simplifies rate comparisons, but the work required to visit different websites and type in the same information can be a bit repetitive. But it’s very important to have as many quotes as possible in order to get lower prices.
The quickest way to compare rates uses one form to get prices from several companies at one time. It’s a real time-saver, eliminates form submissions, and makes quoting online much simpler. As soon as the form is sent, your coverage is rated and you are able to buy any of the quotes returned. If a lower price is quoted, you simply finish the application and buy the policy. The whole process can be completed in a matter of minutes and can result in significant savings.
To find out what other companies charge, click here and complete the simple form. If you have your current policy handy, we recommend you enter deductibles and limits exactly as shown on your declarations page. Doing this guarantees you will have rate comparison quotes for similar coverage.
Rolls Royce Phantom insurance rates have many determining factors
Consumers need to have an understanding of some of the elements that help determine your car insurance rates. Knowing what controls the rates you pay allows you to make educated decisions that could result in lower car insurance prices.
The following are some of the items companies use to determine premiums.
- Poor credit can mean higher rates – Having a bad credit rating is a large factor in your rate calculation. Drivers with excellent credit tend to file fewer claims and have better driving records than drivers who have lower ratings. If your credit rating can use some improvement, you could potentially save money when insuring your Rolls Royce Phantom by improving your credit score.
- Poor driving leads to higher costs – Only having one moving violation can bump up the cost by twenty percent. Drivers who don’t get tickets get better rates than their less careful counterparts. Drivers with dangerous tickets like DUI or reckless driving are required to file a SR-22 with their state DMV in order to prevent a license revocation.
- Rural vs Urban Areas – Residing in a small town has it’s advantages when buying car insurance. Urban drivers have congested traffic and longer commutes to work. Fewer drivers means fewer accidents.
- Multi-policy discounts can save money – Many car insurance companies provide better rates to customers who buy several policies from them. It’s known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even with this discount, it’s in your best interest to comparison shop to ensure the best deal.
- The type of vehicle makes a difference – The type of vehicle you own makes a big difference in the rate you pay. The cheapest insurance rates are for economy passenger cars, but the final cost of insurance is determined by many other factors. Since the Rolls Royce Phantom is a luxury sedan, rates will be more than the average rate where you live.
- Where do you drive? – The more miles you rack up on your Rolls Royce in a year’s time the higher your rates will be. Most insurance companies apply a rate based on their usage. Cars that are left in the garage can get a lower rate as compared to vehicles used primarily for driving to work. Improper usage on your Phantom can result in significantly higher rates. Verify your car insurance policy is showing how each vehicle is driven, because it can save money.
- What are your deductibles? – The deductibles represent how much money you are required to spend in the event of a claim. Physical damage coverage, also known as collision and other-than-collision, insures against damage to your car. Some examples of claims that would be covered are colliding with a building, damage caused by hail, and windstorm damage. The more money the insured has to pay upfront, the lower your rates will be on Phantom coverage.
Don’t believe everything you hear
Consumers can’t ignore all the ads for car insurance savings by State Farm, Allstate and GEICO. All the companies make the same claim of big savings if you change to their company.
But how can every company make almost identical claims?
Different companies can use profiling for the type of customer they prefer to insure. An example of a profitable customer might be profiled as between 30 and 50, a clean driving record, and drives less than 7,500 miles a year. Any driver who meets those qualifications will get very good rates and is almost guaranteed to save a lot of money.
Drivers who don’t meet these standards must pay a more expensive rate which usually ends up with business going elsewhere. Company advertisements say “people who switch” not “everybody who quotes” save money. That’s the way companies can make the claims of big savings. This illustrates why you need to quote coverage with many companies. It’s just too difficult to predict which company will fit your personal profile best.
Buy online or local, you save
As you shop your coverage around, you should never buy lower coverage limits just to save a few bucks. In many instances, an accident victim reduced liability limits or collision coverage to discover at claim time that their decision to reduce coverage ended up costing them more. Your goal should be to purchase plenty of coverage at an affordable rate, not the least amount of coverage.
Cheap Rolls Royce Phantom insurance is available from both online companies in addition to many insurance agents, so you should compare both in order to have the best price selection to choose from. There are still a few companies who do not provide you the ability to get quotes online and usually these small insurance companies provide coverage only through local independent agents.
You just learned some good ideas how to save on Rolls Royce Phantom insurance. The key concept to understand is the more times you quote, the better likelihood of reducing your rate. You may even discover the lowest rates come from a small mutual company. Regional companies may cover specific market segments cheaper compared to the large companies like Progressive and GEICO.
