Jessica Sautter is a Content Writer for CarInsuranceCompanies.com with a Bachelor’s Degree from Eastern Michigan University in Elementary Education with a Major in Reading and a Minor in Mathematics.

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager

UPDATED: Aug 9, 2021

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Key takeaways...

  • It is commonly mistaken that an affordable car insurance policy will not offer great coverage
  • The age of the driver getting the insurance is factor that can impact insurance rates
  • Adding safety features in your car can lower your monthly premiums

In today’s economy, it is more important than ever to be aware of our spending habits and look for cheap car insurance rates.

While searching for ways to save money, many families are looking for the cheapest car insurance rates they can find for the coverage they want. Looking into car insurance rates can lead to big savings.

It is possible to find great policies that are not only affordable but still offer great coverage.

Find affordable car insurance by using our FREE zip code search tool! Enter your zip code above to get started!

How can you get great protection from affordable car insurance policies?

It is commonly mistaken that an affordable car insurance policy will not offer great coverage. In fact most people expect to get minimum coverage or only liability insurance if they are looking for an affordable auto insurance policy.

In short, it is assumed that the less you pay for your auto policy, the less coverage you will get.

This is not always the case. With the competitiveness of the insurance market today, many companies are offering great policies to drivers at affordable rates.

One of the biggest things you can do to find the lowest rates for the coverage you want from an auto policy is to shop around and get several quotes to compare. Just be sure that the coverage options are similar in the policies you are looking at so that it is a fair comparison.

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What are determining factors when obtaining cheap car insurance rates?

There are many factors involved when it comes to getting your car insurance decided.

Below are some factors that companies will take into account when calculating your rates:

  • Risk – The driver’s risk plays an important role in obtaining cheap car insurance rates. The less risk that a company views the driver as, the less their premium will be. If the insurance company sees that you have had many accidents and claims filed over the years, you might be viewed as a high-risk driver and will have a higher premium.
  • Age – The age of the driver getting the insurance is another factor that is considered. Depending on what age group you fall into, it can be an advantage or disadvantage. The first group is the under 25 group. Even if you are a good driver, drivers under 25 automatically fall into the high-risk category because they haven’t been driving too many years.

After the age of 25, most drivers will notice a big decrease in their cost of auto insurance. Your annual premiums will continue to get better over time as you spend more years driving.

Once you reach age 55, most insurance companies will drop you into a low-risk category because you are viewed to be a good driver.

What are features on a vehicle that affect car insurance rates?

Most people don’t realize until it’s too late that the type of vehicle you are insuring can greatly affect your rates. Certain types of vehicles can greatly increase your premiums.

Many insurance companies will look for certain safety features in your vehicle that they consider important to have when determining your premium.

Car insurance by make should be taken into account when comparing car insurance!

Some safety features on cars can bring low car insurance rates.

One of the safety features insurance companies look for are anti-theft devices.

These devices put the insurance companies’ minds more at ease that your car is not an easy target to steal. Check your car safety reports to make sure you are saving the most money possible!

Airbags and automatic seat belts are features that can lead to discounts on your premiums. Most cars today automatically come with airbags installed.

With seat belts, the insurance companies know that most people will not always use them. Having automatic seat belts forces a driver to wear them and this is why they can get you some extra savings.

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What are some other ways to get cheap car insurance rates?

In addition to traditional car insurance discounts, there are other ways to lower your monthly premium:

Higher Deductibles By setting your deductibles higher, you will, in turn, have lower monthly payments. A deductible is what you will have to pay out of your pocket when you get into an accident or need a repair.

For many drivers, the lower monthly premium is well worth the higher deductible.

Bundle Insurance Plans – Many insurance companies offer multiple types of car insurance coverage. If you need insurance for your car and home, then you could save money by bundling them together.

Many companies will gladly offer car insurance discounts for drivers that buy more than one policy from them.

Credit Rating – Most people know that it takes a good credit rating to get good car insurance rates on loans and mortgages, but many do not realize that good credit can also lead to savings in car insurance rates.

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Can you get cheap car insurance rates by comparing insurance policies online?

As mentioned previously, shopping around for quotes can help you get the cheapest rates available to you. In the digital age, comparison shopping online has made the search for an affordable policy easier than ever before.

There are many benefits to using the Internet to apply for online car insurance. The main benefit is the ability to obtain and compare multiple policies before choosing one that is perfect for your needs.

In your quest for cheap auto insurance, f you were to visit local companies in person, it could take a very long time to get multiple quotes to compare. With searching online, you can have multiple auto insurance quotes at your fingertips within minutes.

After you take time to compare the insurance policies online, the next benefit is the ability to get auto insurance coverage right away.

Most auto insurance companies will allow you to print out temporary insurance cards to use until your regular ones arrive in the mail.

Another benefit to applying online beyond being able to compare multiple quotes is that you can easily make any changes or adjustments to your policy effortlessly.

The convenience of comparing many policies online will ensure that you find a great policy that not only fits your needs but has the most affordable car insurance rates to fit your budget as well.

Ready to comparing affordable car insurance quotes now! Enter your zip code below to get started for FREE!

References:

  1. https://www.safeauto.com/state-insurance/pennsylvania-auto-insurance/philadelphia-auto-insurance
  2. https://www.thebalance.com/non-standard-car-insurance-for-high-risk-drivers-4156677
  3. https://www.consumerreports.org/cro/2012/04/guide-to-safety-features/index.htm
  4. https://www.thebalance.com/lower-your-auto-insurance-premium-1387716
  5. https://www.allstate.com/tools-and-resources/car-insurance/components-auto-insurance.aspx