Everyone knows that auto insurance companies don’t want their customers to go rate shopping. Insureds who shop rates annually will presumably move their business because there is a significant possibility of finding coverage at a cheaper rate. A recent insurance study discovered that consumers who routinely shopped around saved $865 a year as compared to drivers who never compared rates.
If finding the best rates on insurance is your objective, then knowing how to choose a company and compare coverage rates can make the process more efficient.
The preferred way to get more affordable Chevy Sonic insurance is to compare prices regularly from insurance carriers who provide car insurance in Indianapolis. Price quotes can be compared by following these steps.
Step 1: Read about how insurance works and the things you can control to prevent expensive coverage. Many factors that cause high rates like distracted driving and a bad credit score can be rectified by making minor driving habit or lifestyle changes. Continue reading for the details to prevent high prices and earn larger discounts.
Step 2: Request price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like GEICO or Farmers Insurance, while agents who are independent can provide prices from multiple insurance companies.
Step 3: Compare the new rate quotes to the premium of your current policy to determine if you can save on Sonic insurance in Indianapolis. If you find better rates, make sure there is no lapse between the expiration of your current policy and the new one.
Step 4: Provide written notification to your current company to cancel your current policy. Submit the completed application along with a down payment to your new insurance company. Once the paperwork is finalized, put the proof of insurance certificate with your registration paperwork.
The key thing to know about shopping around is to make sure you enter the same level of coverage on each quote request and and to get price estimates from every company you can. This helps ensure an apples-to-apples comparison and many rates to choose from.
Indianapolis car insurance discounts
Some insurance providers don’t list their entire list of discounts in an easy-to-find place, so below is a list both the well known and the more hidden discounts that may be available.
- Defensive Driver – Successfully completing a driver safety course could save 5% or more and easily recoup the cost of the course.
- E-sign – A handful of larger companies may give you up to $50 for signing up on the web.
- Data Collection Discounts – Insureds that choose to allow companies to scrutinize vehicle usage by installing a telematics device such as State Farm’s In-Drive may get a rate reduction if they show good driving skills.
- Discounts for Responsible Drivers – Drivers who avoid accidents can pay as much as 50% less as compared to drivers with claims.
- Driver’s Ed – Cut your cost by having your teen driver complete a driver education course in school.
- Anti-lock Brake Discount – Cars, trucks, and SUVs equipped with ABS or steering control are much safer to drive and therefore earn up to a 10% discount.
A little disclaimer on discounts, some of the credits will not apply to the whole policy. A few only apply to specific coverage prices like comp or med pay. So even though you would think all those discounts means the company will pay you, car insurance companies aren’t that generous. But all discounts should help lower the amount you have to pay.
A list of companies and their offered discounts are shown below.
- State Farm has discounts for Drive Safe & Save, multiple autos, good driver, good student, Steer Clear safe driver discount, multiple policy, and driver’s education.
- Farmers Insurance may have discounts that include multi-car, pay in full, youthful driver, electronic funds transfer, alternative fuel, and good student.
- Progressive offers premium reductions for multi-vehicle, online quote discount, homeowner, good student, multi-policy, and continuous coverage.
- GEICO offers discounts for emergency military deployment, membership and employees, anti-lock brakes, daytime running lights, seat belt use, multi-policy, and air bags.
- Auto-Owners Insurance policyholders can earn discounts including paperless, group or association, paid in full, air bags, teen driver, and safe vehicle.
- The Hartford offers discounts including vehicle fuel type, bundle, defensive driver, good student, and anti-theft.
- Farm Bureau discounts include multi-policy, good student, renewal discount, youthful driver, and safe driver.
- USAA has savings for vehicle storage, multi-policy, good student, multi-vehicle, and defensive driver.
When quoting, ask each insurance company how many discounts you can get. Discounts might not be available to policyholders in Indianapolis.
Just keep in mind that comparing more rates from different companies will enable you to find a lower rate than you’re paying now. Some insurance companies are not set up to provide online rate quotes, so it’s recommended that you also compare quotes from the smaller companies as well.
The following companies have been selected to offer comparison quotes in Indianapolis, IN. If the list has multiple companies, we recommend you get prices from several of them in order to find the cheapest rates.
Do I need an insurance agent?
Many drivers just want to go talk to an agent and often times that is recommended A good thing about getting online price quotes is you can get cheaper prices and still have a local agent.
To make it easy to find an agent, after completing this form (opens in new window), the quote information is transmitted to insurance agents in Indianapolis who will give competitive quotes to get your business. It’s much easier because you don’t need to visit any agencies since rate quotes are delivered to you. You can get cheaper car insurance rates without requiring a lot of work. If you wish to compare prices from a specific car insurance provider, just jump over to their website and complete a quote there.
Finding the right insurer requires more thought than just a cheap quote. These are some questions you should get answers to.
- What are the financial ratings for the companies they represent?
- Which members of your family are coverage by the policy?
- Do they see any coverage gaps in your plan?
- Is there any savings for paying the full premium?
- How long have they been in business?
- Do they carry Errors and Omissions coverage?
- Is assistance available after office hours?
When narrowing the list to find an insurance agent, it helps to know the two different types of agencies and how they work. Agencies in Indianapolis are classified as either exclusive or independent.
Agents that choose to be exclusive can only provide one company’s prices like AAA, Allstate, State Farm, or Farmers Insurance. These agents are unable to compare other company’s rates so they really need to provide good service. Exclusive agencies receive extensive training on what they offer which helps overcome the inability to quote other rates.
The following are exclusive agents in Indianapolis that are able to give comparison quotes.
Independent Car Insurance Agencies
These type of agents often have many company appointments and that allows them to write policies with lots of companies and get you the best rates possible. To move your coverage to a new company, your agent can just switch to a different company and you stay with the same agent.
If you are comparing car insurance prices, it’s a good idea to check rates from multiple independent agents to maximize your price options.
Below are independent agents in Indianapolis who can help you get rate quotes.
Nationwide Insurance: Brelage Insurance Agency Inc
5451 Emerson Way – Indianapolis, IN 46226 – (317) 591-2660 – View Map
Here’s why car insurance is not optional
Even though Indianapolis Sonic insurance rates can get expensive, car insurance serves an important purpose.
- Almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a minimum amount of liability insurance coverage if you drive a vehicle. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you bought your Chevy with a loan, almost every bank will stipulate that you have comprehensive coverage to guarantee loan repayment. If the policy lapses, the lender will be forced to insure your Chevy at a much higher premium rate and require you to reimburse them for the expensive policy.
- Insurance safeguards both your Chevy Sonic and your personal assets. It will also cover most medical and hospital costs that are the result of an accident. Liability insurance also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If damage is caused by hail or an accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance are without a doubt worth the cost, especially when you need to use it. But the average American driver is wasting up to $800 each year so shop around at every renewal to be sure current rates are still competitive.
Car insurance coverage specifics
Learning about specific coverages of your policy can help you determine the best coverages and proper limits and deductibles. Policy terminology can be difficult to understand and reading a policy is terribly boring. Shown next are typical coverage types available from car insurance companies.
This coverage covers damage to your Sonic resulting from a collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims like sustaining damage from a pot hole, scraping a guard rail and crashing into a ditch. This coverage can be expensive, so consider dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible on your Sonic to save money on collision insurance.
Medical expense coverage
Coverage for medical payments and/or PIP kick in for short-term medical expenses for pain medications, surgery, funeral costs and EMT expenses. They are used to fill the gap from your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay
Liability auto insurance
Liability insurance provides protection from damage that occurs to people or other property. It protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 25/50/10 that means you have $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $10,000 of coverage for damaged property.
Liability coverage pays for things such as court costs, pain and suffering, medical services, loss of income and repair bills for other people’s vehicles. How much liability coverage do you need? That is up to you, but buy as high a limit as you can afford. Indiana requires drivers to carry at least 25/50/10 but it’s recommended drivers buy higher limits.
The chart below shows why the minimum limit may not be adequate coverage.
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things such as hitting a deer, falling objects and hail damage. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Uninsured or underinsured coverage
Your UM/UIM coverage gives you protection when the “other guys” either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as damage to your Chevy Sonic.
Due to the fact that many Indiana drivers only purchase the least amount of liability that is required (Indiana limits are 25/50/10), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Be persistent to save money
When getting Indianapolis car insurance quotes online, make sure you don’t sacrifice coverage to reduce premiums. In many cases, drivers have reduced physical damage coverage only to regret that a couple dollars of savings turned into a financial nightmare. The goal is to get the best coverage possible at the best price, but don’t skip important coverages to save money.
The cheapest Chevy Sonic insurance in Indianapolis is attainable both online in addition to many Indianapolis insurance agents, and you need to comparison shop both to have the best selection. Some companies may not have online price quotes and many times these small, regional companies prefer to sell through local independent agents.
For more information, feel free to browse the resources below:
- Vehicle Safety Ratings (iihs.org)
- What Insurance is Cheapest for Drivers Over Age 60 in Indianapolis? (FAQ)
- Who Has Cheap Auto Insurance for Real Estate Agents in Indianapolis? (FAQ)
- Who Has Cheap Auto Insurance for Uninsured Drivers in Indianapolis? (FAQ)
- Who Has Cheap Indianapolis Car Insurance Quotes for College Graduates? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- Understanding Limits and Deductibles (Allstate)
- Shopping for a Safe Car (Insurance Information Institute)
- Your Car has been Stolen: Now What? (Allstate)