Amazingly, a recent NerdWallet.com study showed that the vast majority of auto insurance customers kept buying from the same company for more than four years, and nearly half have never compared rates from other carriers. Oklahoma drivers can cut their rates by about 35% a year by just comparing rate quotes, but they don’t know how much savings they would realize if they swap their current policy for a cheaper one.
It takes a little time, but the best way to get budget Buick Verano insurance is to regularly compare quotes from providers who provide auto insurance in Oklahoma City. Price quotes can be compared by following these guidelines.
- First, gain an understanding of how companies set rates and the factors you can control to prevent rate increases. Many factors that increase rates such as careless driving and an imperfect credit rating can be amended by making small lifestyle or driving habit changes. This article provides tips to help prevent expensive coverage and get discounts that may be overlooked.
- Second, obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from one company like Progressive or State Farm, while independent agents can quote prices from multiple sources.
- Third, compare the new rates to your existing policy to determine if switching companies saves money. If you find a better price and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
One thing to point out is that you use identical coverages on each quote and and to look at as many companies as possible. This enables the most accurate price comparison and the best price quote selection.
Our objective in writing this article is to instruct you on the best ways to compare prices and also save some money in the process If you currently have insurance, you will definitely be able to cut your premiums using these methods. Shoppers just need to understand the best way to get comparison rates from many companies at once.
Six factors that affect insurance prices
Lots of things are part of the equation when you get your auto insurance bill. Most are fairly basic such as your driving history, but other criteria are not quite as obvious like where you live or how safe your car is.
The items below are a few of the things utilized by car insurance companies to help set your prices.
- Only buy coverage you need – There are many additional coverages that you can buy when buying auto insurance. Add-on coverages like rental car coverage, accidental death, and extra equipment coverage may be costing you every month. They may sound like good ideas when talking to your agent, but your money might be better spent on other coverage so remove them and pocket the money.
- Frequent auto insurance claims increase auto insurance rates – Auto insurance companies in Oklahoma generally give cheaper rates to policyholders who do not file claims often. If you are the type of insured that files lots of claims you can definitely plan on higher rates. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.
- The type of car you drive affects your costs – The type of vehicle you need insurance for makes a significant difference in your premium level. The cheapest rates are usually for lower cost passenger cars, but the cost you end up paying is determined by many additional factors.
- Multi-policy discounts can save money – The majority of insurance companies will award better rates to buyers who buy several policies from them such as combining an auto and homeowners policy. This can amount to ten percent or more. Even with this discount, you still need to compare other Oklahoma City Verano insurance rates to verify if the discount is saving money.
- Prevent your car from being stolen – Purchasing a vehicle with advanced anti-theft systems can help bring down rates. Systems that thwart thieves like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help prevent auto theft and help lower rates.
- Use credit responsibly and save – Your credit score can be a huge factor in calculating your auto insurance rates. Insureds with high credit scores tend to be less risk to insure than drivers with lower credit ratings. So if your credit score can use some improvement, you could pay less to insure your Buick Verano if you clean up your credit.
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Loss statistics for a Buick Verano – Car insurance companies take into consideration insurance loss statistics for every vehicle as a tool for profitable underwriting. Vehicles that the data determines to have higher prevalence or dollar amount of losses will cost more to insure.
The table below demonstrates the collected loss data for Buick Verano vehicles. For each policy coverage type, the loss probability for all vehicles, as an average, is equal to 100. Numbers below 100 represent a good loss history, while numbers above 100 point to more frequent losses or an increased chance of larger losses than average.
Car Insurance Loss Data for Buick Verano Models Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Buick Verano 92 96 85 109 127 126 BETTERAVERAGEWORSEData Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Be persistent and save
We just covered a lot of tips how to save on Buick Verano insurance in Oklahoma City. The key concept to understand is the more companies you get premium rates for, the higher the chance of saving money. Consumers could even find that the lowest car insurance rates are with the smaller companies.
Drivers who switch companies do it for many reasons like unfair underwriting practices, denial of a claim, policy non-renewal or extreme rates for teen drivers. No matter why you want to switch, switching auto insurance companies is pretty simple and you could end up saving a buck or two.
Cheaper Buick Verano insurance in Oklahoma City can be sourced both online and from local insurance agents, and you should compare price quotes from both to have the best rate selection. Some auto insurance companies don’t offer rates over the internet and usually these smaller providers only sell through independent insurance agents.
Other resources
- Information for Teen Drivers (GEICO)
- How Much are Car Insurance Rates for Seniors in Oklahoma City? (FAQ)
- Who Has Affordable Auto Insurance Rates for Felons in Oklahoma City? (FAQ)
- What Auto Insurance is Cheapest for 18 Year Olds in Oklahoma City? (FAQ)
- Electronic Stability Control FAQ (iihs.org)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Distracted Driving Extends Beyond Texting (State Farm)