Who likes to talk about car insurance? Said no one ever. But let’s be honest, you must have insurance for your vehicles.
Finding the right auto insurance that suits your needs is essential as it can significantly reduce your overall insurance costs. Once you understand the factors that can raise or lower premiums, you can compare policies and find ways to save money.
At America’s Car-Mart, a buy here pay here auto dealership; we are committed to helping you find the right vehicle at the right price that fits your budget. We are here to help you understand and navigate the insurance landscape if necessary. Here are six things to consider when checking out vehicle insurance:
1. Shop around when searching for insurance.
Rates can vary from company to company, so get multiple quotes from different insurers. Some insurance companies specialize in providing coverage for consumers with credit challenges and may offer better rates.
2. Look for discounts and savings.
You may get a lower rate by combining your auto insurance with your home or renter’s insurance. Maintaining a clean and safe driving record can also help reduce your insurance costs. Additionally, driving fewer miles may make you eligible for a low-mileage discount.
3. Ask about payment options.
Some insurance companies offer flexible payment plans, which can help manage costs by spreading payments over the policy term. Remember that setting up automatic payments may sometimes lead to receiving a discount.
4. Know that your credit score may impact your insurance rate.
Insurance companies assess customer risk based on credit scores, which can impact insurance rates.
5. Understand the different types of coverage.
Full coverage includes liability, comprehensive, and collision coverage. Full coverage protects you from many situations that could put you at financial risk.
Comprehensive coverage protects against damage to your vehicle caused by non-collision outside your control, such as theft, vandalism, glass and windshield damage, fire, accidents with animals, weather, or other acts of nature.
Collision Insurance is coverage that pays the cost of repairing or replacing your vehicle if it is damaged in an accident, regardless of who is at fault.
6. Ask about other policy features and add-ons.
GAP, or Guaranteed Auto Protection insurance, can help cover your vehicle if something happens before it’s paid off. Additionally, you may want to consider other services, such as roadside assistance or rental car coverage.
Make sure you have the following information when shopping for an insurance policy:
- VIN numbers for all your vehicles
- Driver’s license numbers for all parties
- Estimates of how many miles you drive annually for each vehicle
- Copy of your current auto insurance policy
- Your state’s insurance requirements
Check out our other helpful blogs about insurance, financing, and vehicle ownership:
- Understanding Car Insurance
- Budgeting for Your Car – What is the Total Cost of Vehicle Ownership
- How to Get Pre-Qualified for Financing at America’s Car-Mart
How much is car insurance?
The average cost of car insurance in the U.S. is $2,311 per year, and minimum coverage costs an average of $640 annually. Source: Bankrate 2024
Get pre-qualified and see the amount you’re qualified for – within minutes. Know what you qualify for before you get to the dealership.
