Feel like you’re a prisoner to high-priced car insurance? Trust us when we tell you there are many consumers feeling the pinch from expensive car insurance.
Online insurance companies like Allstate and Progressive increase brand awareness with catchy ads and it is difficult to see through the deception and find the best price available.
How much can you save with discounts?
Companies that sell car insurance do not advertise every discount in an easy-to-find place, so we researched some of the best known and the more hidden discounts you could be receiving.
- Distant Student – Youth drivers who are attending college and do not have a car may qualify for this discount.
- 55 and Retired – Mature drivers may receive reduced rates for LW2 coverage.
- Auto/Home Discount – If you insure your home and vehicles with the same company you may earn at least 10% off all policies.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to enroll in driver’s education if offered at their school.
- Multiple Cars – Having all your vehicles on one policy may reduce the rate for each vehicle.
- Accident Forgiveness – A few companies allow you one accident before hitting you with a surcharge so long as you haven’t had any claims prior to the accident.
- Payment Method – If paying your policy premium upfront instead of monthly or quarterly installments you could save 5% or more.
- Memberships – Affiliation with certain professional organizations could qualify you for a break on car insurance for LW2 coverage.
- Lower Rates for Military – Being on active duty in the military could be rewarded with lower premiums.
- Discounts for Safe Drivers – Insureds without accidents can get discounts for up to 45% lower rates for LW2 coverage than drivers with accidents.
Drivers should understand that some of the credits will not apply to the overall cost of the policy. A few only apply to specific coverage prices like collision or personal injury protection. So despite the fact that it appears you could get a free car insurance policy, you won’t be that lucky.
To see a list of insurance companies offering car insurance discounts, follow this link.
Factors that can influence insurance rates for a Saturn LW2
Consumers need to have an understanding of the different types of things that come into play when calculating the rates you pay for car insurance. When you know what positively or negatively influences your rates enables informed choices that will entitle you to lower car insurance prices.
- Occupation reflects on rates – Did you know your car insurance rates can be affected by your occupation? Occupations such as real estate brokers, social workers and stock brokers tend to have the highest rates due to job stress and long work hours. On the other hand, jobs such as actors, students and performers receive lower rates for LW2 coverage.
- Is your vehicle built for speed? – The type of car you drive makes a significant difference in determining your rates. The lowest base rates tend to be for economy passenger models, but other factors influence the final cost greatly. Since the Saturn LW2 is considered a station wagon, insurance will be similar in price or lower when compared to the average rates.
- More than one policy can earn a discount – Many companies give discounts to insureds who consolidate policies with them such as combining an auto and homeowners policy. Discounts can amount to anywhere from five to ten percent in most cases. Even with this discount, you may still want to shop around to make sure you are getting the best deal. You may still find a better deal by splitting coverages up.
- Men are more aggressive – Statistics show that men are more aggressive behind the wheel. Now that doesn’t mean women are better drivers. They both tend to get into accidents at about the same rate, but the men tend to have more serious accidents. Men also statistically get cited for more serious violations like DUI and reckless driving.
- Marriage pays dividends – Having a spouse can get you a discount on car insurance. Marriage means you’re more responsible and it’s statistically proven that married drivers get in fewer accidents.
- Lower miles equals lower premium – Driving more miles in a year the higher your rates will be. Most companies apply a rate based on their usage. Autos not used for work or commuting receive lower rates than those used for commuting. Having the wrong rating on your LW2 can cost quite a bit. Ask your agent if your car insurance coverage is rated on the proper vehicle usage, because improper ratings can cost you money.
- Teen drivers pay high rates – Older drivers are viewed as being more responsible, tend to cause fewer accidents and receive fewer citations. Teenage drivers are known to be less responsible behind the wheel and because of this, their car insurance rates are much higher.
- Your car’s features help determine rates – Choosing a vehicle that has an advanced theft prevention system can get you a discount on your car insurance. Anti-theft devices such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart your vehicle from being stolen.
Your personal situation dictates your coverage
When buying proper insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Each situation is unique so your insurance needs to address that. For example, these questions can aid in determining whether or not you could use an agent’s help.
- Does my medical payments coverage pay my health insurance deductible?
- What is high-risk coverage and where do I buy it?
- Do I need added coverage for expensive stereo equipment?
- What discounts do I qualify for?
- Is my teen driver covered when they drive my company car?
- How much liability do I need to cover my assets?
- Should I rate my Saturn LW2 as pleasure use or commute?
- How do I file an SR-22 for a DUI in my state?
If you’re not sure about those questions then you might want to talk to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies.
Are insurance agents a thing of the past?
Some people just want to buy from a licensed agent and that is OK! One of the great benefits of getting online price quotes is you may find the best rates and still have an agent to talk to.
After completing this short form, your information is sent to companies who will give you bids to get your business. You don’t have to drive around as quotes are delivered to the email address you provide. How cool is that?! You can find the lowest rates without the usual hassles of price shopping.
Deciding on an insurance company shouldn’t rely on just the bottom line cost. Some important questions to ask are:
- If your car is in the repair shop, do you have coverage for a rental car?
- Do the companies they represent have a solid financial rating?
- If you have an accident, will your rates go up?
- Does the company allow you to choose your own collision repair facility?
- Are you getting all the discounts the company offers?
- How are they compensated?
- Is their price quote a firm figure or are their hidden costs?
Captive or Independent: There is a difference
When looking for a good insurance agency, there are two types of insurance agents that differ in how they can insure your vehicles. Insurance agencies are either captive or independent.
Captive Insurance Agents
Captive insurance agents can only write with one company and some examples include Liberty Mutual, Allstate, Farmers Insurance or State Farm. They generally cannot provide prices from multiple companies so they have to upsell other benefits. Captive agencies are well schooled on the products they sell which helps them compete with independent agents.
Independent Agents
Independent agents are not locked into one company but instead can place your coverage with many different companies and possibly get better coverage at lower prices. If you are not satisfied with one company, the agent simply finds a different carrier without you having to go to a different agency. When searching for an agent, you should always contact at least one independent agent to get the best comparison.
For a full directory of agents, visit this page.
Once you have positive feedback to your questions and locked in a price quote, most likely you have located a car insurance agent that will adequately provide car insurance.
More quotes mean more savings
We covered some good ideas how you can lower your Saturn LW2 insurance rates. The key concept to understand is the more quotes you get, the higher your chance of finding lower rates. Consumers could even find that the most savings is with a lesser-known regional company. These companies may cover specific market segments cheaper compared to the large companies like Allstate or State Farm.
When trying to cut insurance costs, do not buy poor coverage just to save money. There are a lot of situations where someone sacrificed uninsured motorist or liability limits only to find out that their decision to reduce coverage ended up costing them more. The aim is to purchase plenty of coverage for the lowest price while not skimping on critical coverages.
