How to Reduce the Cost of Auto Insurance

Depending on where you live, auto insurance may cost you a pretty penny. Several factors may play a part in high rates, from the type of car you have to your driving record. Though it can be expensive at times, auto insurance is a necessity. There are ways to reduce its cost that maybe you haven’t thought of. 

Here are some pointers that will help you reduce the cost of auto insurance

1. Get Yourself a Safe Car

When buying a new car, ensure you’re getting one that’s not known to crash and has a high rating. Explore the safety vehicles of the car before you purchase it. If the features are top-quality and do what they’re supposed to keep you protected, this could prove helpful as far as your insurance rates. Insurance providers may offer discounts if your vehicle has strong safety features. 

2. Be a Good Driver

The better your driving record is, the more willing your insurance provider is to lower your insurance rates. Make sure you don’t get any tickets or get docked driving points due to speeding or more serious offenses like driving under the influence. Also, your ability to stay out of accidents can positively affect your auto insurance policy

3. Higher Deductibles

A deductible is a specified amount you have to pay before an insurance provider pays an insurance claim. The higher the deductible is, the lower your insurance premium costs will be, easing your financial burden. 

4. Bundle Your Auto and Home Insurance

By bundling your auto and home insurance policies housed by the same insurance carrier, you save money, potentially getting significant discounts. Additionally, bundling the policies makes it less likely an insurance provider drops you if you make excessive claims. 

5. Look for Value 

Ensure when you meet with your agent to reduce the cost of auto insurance, you’re working to find a policy with the best value and protections rather than the cheapest one. Cheaper doesn’t always mean better. 

Check out our auto insurance policies at Prince Insurance. We’ll work with you to reduce the cost of auto insurance at your convenience. Get your free quote from us today!

Important Insurance Policies Everyone Should Have

4 people talking in a circle smiling

Insurance policies are the safety nets that protect you in the event of a disaster or even death, ensuring you and your family receive the financial coverage you deserve. Your life, your assets, and your family’s future depend on these policies. 

You never know what unexpected events can happen in life. By taking out an insurance policy for what you need, you’re prepared for whatever adversity you end up facing. There are several important insurance policies you can get to cover you and yours in times of need. 

Why Should You Take Out an Insurance Policy?

By getting a comprehensive insurance policy, you cover your welfare and valuables against different risks, including fire, theft, accidents, or serious injury. 

Taking out a policy reduces stress levels and prevents you from worrying about the next steps after any of those risks play out in your life. When you know you have the policy to turn to when you need it, you can live your best life and be at ease about things, though you should still be careful. Life is unpredictable, and you shouldn’t take it for granted. Why not get coverage while you still can? The earlier, the better.

What Are the Important Insurance Policies?

There are various important insurance policies you can get to protect yourself and the things you value most. If you’re a homeowner, you should get homeowners to cover your home against potential damages from a destructive event. If you’re renting a home, renters insurance protects you against destructive events and other things not covered by your landlord’s insurance policy. 

For vehicle owners, auto insurance is a must to cover you when your car’s involved in an accident. Meanwhile, health insurance covers medical and surgical costs whenever you’ve suffered serious health issues or injuries. 

Browse our website to learn more about the important insurance policies we offer. Get your free quote from Prince Insurance today!

What Makes a Car “Insurance Friendly”

If your goal is to find the best auto insurance rates, it is crucial you know what to look for in a car. While the type of car you drive isn’t the only factor in your premium, it will play a role. Of course, no two vehicles are exactly the same, so even vehicles from the same make and model can have different auto insurance costs. Below are a few examples of what factors contribute to insurance friendly cars.

Searching for Insurance Friendly Cars

Owning your own car is great, but it comes with a cost. Between the car payments, the insurance payments, and the car repairs, it can be hard to stay on top of everything. Fortunately, there are ways to keep your insurance payments low. One of the easiest ways to do this is to make sure your car is as safe as possible. Having a safe car can result in lower auto insurance rates, and that means less money leaving your wallet. Cars that are reliable are also less prone to accidents.

Insurance friendly cars are safer to drive as sports cars pose more of a risk.

Characteristics of Insurance Friendly Cars

Keeping your vehicle in good condition and up to date with the latest safety equipment can lower your insurance rates — not to mention keep you safe on the road. Insurance companies want to ensure that their customers are driving as safely as possible to keep accidents and injuries to a minimum and, in turn, keep their premiums low. So, they look at several factors when calculating your insurance rates. These include the type of vehicle you have and its safety features. Typically, sports cars are more expensive to insure.

Contact an agent at Price Insurance for more information on insurance friendly cars and a quote for auto insurance.

How to Keep Your Auto Insurance Costs Low

Many people assume that their auto insurance rates will remain the same forever. This is a huge mistake. The biggest factor in your auto insurance rate is your driving record. If you’ve had an accident or traffic violation in the past three years, your rates are likely to be much higher than someone with a clean record. Fortunately, there are several things you can do to keep auto insurance low.

Tips to Keep Auto Insurance Low

Keep auto insurance low by always being aware of your surroundings while on the road.

To help you keep your auto insurance costs down, we’ve put together a few tips to help our clients save on their car insurance. First, being a good driver is the best secret to keep auto insurance low. If you’re a responsible driver, you’re statistically less likely to have an accident or file a claim. A good driver will save money on auto insurance, period.

Next, make sure your car is properly insured. You don’t want to be stuck with a car that has under-insured coverage, which might not be enough to cover the repairs in the event of an accident. Many drivers find themselves with under-insured coverage because they were unaware of their coverage limits or they have the bare minimum required by law. Check your policy and call your agent if there are any changes to your car’s value.

Finding the Ideal Rate

Lastly, make sure you’re getting the best rate possible. Compare quotes from different companies and consider increasing your deductible. Insuring all of your vehicles at once might lower costs, and some carriers offer bulk rates. Talk to an independent agent who can find the best policy to cover all of your vehicles.

Contact an agent at Prince Insurance to receive more advice on how to keep auto insurance low and to request a quote.

Four Types of Essential Personal Insurance

Insurance Broker

Essential personal insurance is just that — essential for all of us. It’s the ultimate safety net against the financial turmoil that can result from the unexpected. If you’re like most people, you probably don’t give much thought to your insurance coverage until you need it. Then, when you are faced with a loss, you realize your insurance policy didn’t cover everything you thought it did. Even if you’re young and healthy, don’t you feel better knowing you’re not financially exposed if you get sick or hurt? The bottom line is that personal insurance is about security. That’s why it’s important to get the right policies to protect you and your loved ones.

Everyone Benefits From Insurance

It is a fact of life that you can’t predict the future. Nobody knows whether we will be involved in a car accident, get ill, or face any other number of life-changing events. For this reason, it is a good idea to make sure that your family, your home, and your business are all properly insured. It is a great feeling knowing that you are financially covered in case something unexpected happens. Discussing your personal insurance needs with an independent agent can help you determine what level of coverage you require depending on your assets.

Auto insurance is a type of essential personal insurance that all drivers should have.

Essential Personal Insurance

Your family is your most important asset, and while you can’t put a price tag on them, the value of your family is great enough that you should protect it. There are four types of essential personal insurance: car insurance, life insurance, health insurance, and homeowner insurance. A person’s personal insurance needs can vary based on many factors, including age, location, family size, and driving habits.

Contact Prince Insurance to get started working with an independent agent to create your personal insurance package for protecting you and your family.

Expand Your Insurance Menu

The world is an unpredictable place; so many different things can go wrong. It makes sense, then, why there are so many different kinds of insurance plans to accommodate this unpredictability.

As an insurance broker, it’s up to you to be able to provide as many different kinds of insurance as possible. To be able to do this, however, you first have to understand all the options available.

As an independent insurance broker agency ourselves, we’re here to help you out.

Policies for Brokers

The number of options to add to your insurance menu is greater than you might think. For example, you can offer policies for:

Firemen putting out a home fire.
Home insurance can protect you in the unfortunate event that your home catches fire.
  • Home & Auto Insurance
  • Auto Insurance
  • Home Insurance
  • Other Personal Insurance
  • Farm Insurance
  • Life Insurance
  • Recreational Vehicle Insurance
  • Additional Insurance Services
  • Coverage for Specific Industries
  • Coverage for Your Business
  • Liquor Liability Insurance
  • Coverage for Your Employees

Popular Options and Best Sellers

Naturally, some types of policies are more popular than others. In most cases, you’ll find home, auto, and life insurance to be the most sought-after. This makes sense when you think about the number of people who have homes or cars they want to protect, or loved ones they want to make sure are taken care of after their passing, compared to the number of people who need liquor liability insurance, for example.

The most popular types of policies also happen to the best selling types of policies, namely, home, auto, and life insurance.

However, as people grow older, get married, and build families, their number one priority is often the well-being of their family members. Therefore, you’ll often find life insurance policies to come out on top as your bestseller.

Selling Tips

To attract more people to your new types of policies, there are a couple of things you can do.

The first thing is to offer bundling discounts (somewhere in the area of 10%-20% is often a good start) for customers who purchase more than one type of policy at the same time. A common combination is home and auto insurance.

Another thing you can do is offer free quotes. This way, customers can check out your new types of policies risk-free. Plus, when presented with their quotes, they didn’t have to pay anything extra, and they’re much more likely to continue exploring closer and closer to purchase time.

Looking for an example of a real-life independent insurance broker agency already incorporating all of the tips above?

Check out Prince Insurance Group to learn more.