The recommended way to get discount car insurance rates is to start doing a yearly price comparison from different companies in Cincinnati. Rate comparisons can be done by following these steps.
First, spend some time learning about how companies set rates and the changes you can make to prevent expensive coverage. Many things that drive up the price like accidents, traffic tickets, and poor credit history can be remedied by improving your driving habits or financial responsibility.
Second, quote rates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like Progressive or State Farm, while agents who are independent can provide prices from multiple insurance companies.
Third, compare the price quotes to your existing coverage to see if a cheaper rate is available. If you find better rates and buy the policy, make sure coverage does not lapse between policies.
A good tip to remember is to try to use the same deductibles and limits on each quote and and to analyze as many car insurance companies as possible. Doing this provides a fair rate comparison and a thorough price selection.
Remarkably, a study showed that over 70% of drivers renewed their policy with the same company for four years or more, and about 40% of consumers have never quoted car insurance rates at all. With the average car insurance premium being $1,343, Ohio drivers could save themselves approximately $700 a year, but they just don’t understand the amount of savings they would get if they swap their current policy for a cheaper one.
How do Insurance Providers Determine Chevy Volt Insurance Rates?
Multiple criteria are considered when premium rates are determined. Some are pretty understandable like a motor vehicle report, but others are less obvious like where you live or your commute time. Consumers need to have an understanding of some of the factors that help calculate the rates you pay for insurance. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that may reward you with better insurance rates.
- How many miles do you drive? – Driving more miles in a year the more you will pay for insurance. Many insurance companies calculate prices partially by how you use the vehicle. Vehicles used primarily for pleasure use can get a lower rate than those that get driven frequently. Ask your agent if your policy is rated on the correct driver usage, because improper ratings can cost you money. Having the wrong rating on your Volt can cost quite a bit.
- Liability protection is peace of mind – Your policy’s liability coverage kicks in when you are found liable for causing personal injury or damage in an accident. It will provide for a legal defense which can cost a lot. Liability insurance is quite affordable as compared to coverage for physical damage, so drivers should carry high limits.
- Tickets hurt – A bad driving record has a big impact on rates. Getting just one chargeable violation may cause rates to rise forty percent or more. Attentive drivers pay less for auto insurance as compared to those with violations. Drivers who get multiple violations like DUI or reckless driving may find that they have to to submit a SR-22 form with their state DMV in order to keep their license.
- You may save more by bundling policies – Most insurance companies will award better rates to buyers who consolidate policies with them, otherwise known as a multi-policy discount. If you currently are using one company, you may still want to compare other Cincinnati Volt insurance rates to verify if the discount is saving money.
- High coverage deductibles equal low rates – Comp and collision deductibles define the amount you are willing to pay before your insurance pays a claim. Coverage for physical damage, also called ‘full coverage’, insures against damage to your car. Some coverage claims would be rear-ending another vehicle, collision with a deer, or theft of your vehicle. The higher the amount you have to pay, the less your insurance will be.
- What type of car, truck or SUV do you drive? – The performance of the vehicle you need to insure makes a significant difference in your car insurance bill. The most favorable rates are generally reserved for smaller low performance passenger vehicles, but many other things help determine your insurance rates.
- File insurance claims and pay more – If you file claims often, you can look forward to either higher rates or even cancellation. Companies in Ohio generally give the lowest premiums to insureds who are not frequent claim filers. Insurance coverage is meant to be used in the event of the large, substantial claims.
- Never allow your coverage to lapse – Allowing your coverage to lapse can be a guaranteed way to increase your renewal premiums. In addition to paying higher premiums, getting caught without coverage could result in a steep fine or even jail time.
Chevy Volt claim probability – Companies take into consideration historical loss data for every vehicle to help calculate premium rates. Vehicles that have higher claim frequency or loss amount will cost more for specific coverages. The information below illustrates the loss history for Chevy Volt vehicles.
For each type of coverage, the claim amount for all vehicles averaged together is set at 100. Values below 100 imply a favorable loss record, while values over 100 indicate more frequent claims or a tendency for claims to be larger.
Auto Insurance Loss Data for Chevrolet Volt Models Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Chevrolet Volt Electric 89 83 81 71 73 90BETTERAVERAGEWORSE
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
How much can you save?
When you buy Cincinnati auto insurance online, never buy poor coverage just to save money. There are a lot of situations where drivers have reduced comprehensive coverage or liability limits and found out when filing a claim that the savings was not a smart move. Your aim should be to buy the best coverage you can find for the lowest price but still have enough coverage for asset protection.
Some insurance providers don’t offer online rate quotes and most of the time these regional carriers prefer to sell through independent agencies. Low-cost Chevy Volt insurance in Cincinnati can be sourced on the web and from local agencies, so you should compare both to have the best selection.
Much more information about insurance in Ohio is available at these links:
- What is Covered by GAP Insurance? (Allstate)
- How Much is Car Insurance for a Jeep Grand Cherokee in Cincinnati? (FAQ)
- How Much are Auto Insurance Rates for Young Drivers in Cincinnati? (FAQ)
- Who Has Affordable Car Insurance Rates for a Chevrolet Equinox in Cincinnati? (FAQ)
- Who Has Affordable Cincinnati Auto Insurance for Infrequent Drivers? (FAQ)
- Who Has Affordable Car Insurance Rates for Drivers Under 25 in Cincinnati? (FAQ)
- Think You’re a Safe Driver? (State Farm)
- Avoiding Deer Collisions (Insurance Information Institute)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)
- Auto Insurance Learning Center (State Farm)