It’s safe to conclude that car insurance companies want to keep your business as long as possible. Insureds who shop around for cheaper rates will presumably switch companies because of the good chance of finding coverage at a cheaper rate. Remarkably, a study showed that people who compared prices regularly saved $860 a year as compared to drivers who never shopped around for cheaper prices.
If saving the most money on car insurance in Lexington is the reason you’re reading this, knowing how to get rate quotes and compare coverages can make it simple to find affordable coverage.
If you want to find the absolute lowest rates, then the best way to find cheaper Dodge Magnum insurance in Lexington is to regularly compare price quotes from providers who provide auto insurance in Kentucky.
Step 1: Spend a few minutes and learn about what is in your policy and the measures you can take to keep rates low. Many things that increase rates such as traffic violations and an unacceptable credit score can be remedied by making minor changes in your lifestyle.
Step 2: Request rate estimates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can give quotes from a single company like Progressive or State Farm, while independent agents can provide rate quotes from multiple insurance companies.
Step 3: Compare the quotes to the price on your current policy and determine if cheaper Magnum coverage is available. If you find a lower rate, ensure there is no coverage lapse between policies.
The most important part of shopping around is to make sure you enter similar coverage information on each price quote and to quote with as many companies as possible. Doing this provides the most accurate price comparison and a complete price analysis.
Companies offering low-cost Dodge Magnum prices in Lexington, KY
The providers in the list below can provide free rate quotes in Kentucky. To get the cheapest auto insurance in KY, we suggest you visit several of them to find the most affordable auto insurance rates.
Get cheaper rates by earning discounts
Companies don’t necessarily list all possible discounts very clearly, so the following is a list of some of the best known and also the more inconspicuous credits available to lower your premiums when you buy Lexington car insurance online.
- Drivers Ed for Students – Teen drivers should enroll and complete driver’s education in high school.
- Smart Student Discounts – Getting good grades may save as much as 25% on a Lexington car insurance quote. This discount can apply well after school through age 25.
- Early Switch Discount – Some insurance companies reward drivers for switching companies prior to the expiration date on your current Magnum insurance policy. You may see this discount when you get Lexington car insurance quotes online.
- Lower Rates for Military – Having a deployed family member could trigger a small discount.
- Club Memberships – Being a member of a professional or civic organization could trigger savings on your policy.
- College Student Discount – Any of your kids who live away from home to go to college and do not take a car to college may be insured at a cheaper rate.
- Discounts for New Vehicles – Buying a new car instead of a used Magnum is cheaper because newer models keep occupants safer.
- Multi-car Discount – Having several vehicles on one policy can reduce rates for all insured vehicles.
- One Accident Forgiven – Not a discount per se, but some insurance companies allow you one accident before raising your premiums with the catch being you have to be claim-free for a particular time prior to the accident.
- Anti-lock Brakes – Cars that have steering control and anti-lock brakes are much safer to drive and therefore earn up to a 10% discount.
We need to note that some of the credits will not apply to the entire policy premium. Some only reduce the cost of specific coverages such as collision or personal injury protection. So even though you would think you would end up receiving a 100% discount, you’re out of luck.
A few popular companies and some of the discounts are shown below.
- GEICO may include discounts for defensive driver, federal employee, membership and employees, driver training, seat belt use, and multi-policy.
- Auto-Owners Insurance offers discounts including student away at school, anti-lock brakes, multiple vehicles, paid in full, and air bags.
- American Family offers discounts for Steer into Savings, good driver, air bags, defensive driver, bundled insurance, and accident-free.
- Esurance has savings for emergency road assistance, safety device, defensive driver, good student, and renters.
- Progressive discounts include multi-policy, multi-vehicle, good student, online quote discount, and online signing.
- State Farm offers premium reductions for anti-theft, passive restraint, good student, accident-free, Drive Safe & Save, and driver’s education.
- AAA policyholders can earn discounts including education and occupation, pay-in-full, multi-policy, AAA membership discount, multi-car, good student, and anti-theft.
Double check with each company or agent which discounts you qualify for. Some of the discounts discussed earlier may not apply to policyholders in Lexington. To see auto insurance companies offering auto insurance discounts in Lexington, click this link.
Components of Your Dodge Magnum Insurance Premiums
Lots of things are taken into consideration when premium rates are determined. Some are pretty understandable like an MVR report, but other factors are not quite as obvious such as your marital status or your commute time. Part of the auto insurance buying process is learning the rating factors that play a part in calculating your auto insurance rates. When consumers understand what impacts premium levels, this empowers consumers to make smart changes that will entitle you to lower auto insurance prices.
Know your vehicle’s NHTSA crash test rating – Safer cars tend to have better insurance rates. Vehicles engineered for safety protect occupants better and fewer injuries means less claims paid which can mean better rates for you.
High comp and collision deductibles save money – Physical damage protection, commonly called comprehensive (or other-than-collision) and collision coverage, covers your vehicle from damage. A few examples of covered claims are a broken windshield, damage caused by hail, and windstorm damage. Physical damage deductibles represent how much money you are required to pay if a claim is determined to be covered. The more money the insured is willing to pay, the better rate you will receive.
Does car insurance cost less for women? – Over time, data shows that females take fewer risks when driving. The data does not necessarily mean that females are better at driving than males. Women and men cause accidents at about the same rate, but guys have accidents that have higher claims. Men also statistically get higher numbers of serious violations like driving under the influence (DUI).
Multiple policies with one company – Some companies will award lower prices to customers that purchase more than one policy in the form of a multi-policy discount. Discounts can be as much as ten percent or more Even with this discount applied, it’s always a smart idea to shop around to guarantee you are still saving the most. Consumers may save money by splitting coverages up.
Big cities have higher rates – Residing in less populated areas of the country is a good thing when it comes to auto insurance. Fewer drivers translates into fewer accidents. People who live in big cities have to deal with more road rage incidents and higher rates of accident claims. More time on the road means more chances of being involved in an auto accident.
Why do you need liability? – Your policy’s liability coverage provides coverage if ever a court rules you are at fault for physical damage or personal injury to other. Your policy’s liability insurance provides legal defense starting from day one. Liability insurance is pretty cheap compared to physical damage coverage, so drivers should carry high limits.
Save money by eliminating extra policy coverages – There are a ton of extra add-on coverages that you can get tricked into buying on your auto insurance policy. Coverage for things like vanishing deductibles, towing, and membership fees are examples of these. They may seem like a good idea when deciding what coverages you need, but if they’re wasting money eliminate the coverages to reduce your premium.
Insurance agent or online?
A lot of people would rather buy from a local agent and that can be a great decision One of the benefits of comparing rates online is you can get better rates and still buy from a local agent. And buying from local insurance agencies is definitely important in Lexington.
For easy comparison, once you complete this short form, your information is submitted to local insurance agents that can provide free Lexington car insurance quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to do any legwork as quotes are delivered directly to you. You can find better rates and an insurance agent to talk to. If you wish to get a rate quote from a specific insurance company, you just need to visit that company’s website and give them your coverage information.
When researching a reliable insurance agent, it’s helpful to know the different agency structures that you can select. Agencies in Lexington can either be independent agents or exclusive agents.
Independent Insurance Agencies or Brokers
Agents of this type are not employed by one company and that gives them the ability to insure through many different insurance companies and find the cheapest rate. If premiums increase, your policy is moved internally and you don’t have to do anything. When comparing rate quotes, you will definitely want to get insurance quotes from at a minimum one independent agency to maximize your price options. A lot of them also have access to smaller companies who may have lower rates.
Listed below are Lexington independent agencies that may be able to provide free price quotes.
- Barnes Insurance Center
1202 Winchester Rd #100 – Lexington, KY 40505 – (859) 253-2728 – View Map
- Kelly Wooten Insurance Agency
2331 Fortune Dr #175 – Lexington, KY 40509 – (859) 278-3487 – View Map
- Al Torstrick Insurance Agency
343 Waller Ave #101 – Lexington, KY 40504 – (859) 233-1461 – View Map
Agents of this type can only write with one company such as Allstate, Farmers Insurance or State Farm. These agents are not able to compare rates from other companies so they really need to provide good service. Exclusive insurance agents receive a lot of sales training on their company’s products which can be an advantage. Consumers often use the same agent primarily because of the prominence of the brand and strong financial ratings.
The following are Lexington exclusive agents willing to provide comparison quotes.
- Dwight McCarty – State Farm Insurance Agent
3620 Walden Dr #211 – Lexington, KY 40517 – (859) 971-0266 – View Map
- Howard Shelton State Farm
2614 Richmond Road – Lexington, KY 40509 – (859) 266-6640 – View Map
- John Parkhurst – State Farm Insurance
1795 Alysheba Way #2104 – Lexington, KY 40509 – (859) 264-4422 – View Map
Selecting an auto insurance agent should include more criteria than just the premium amount. These are valid questions to ask:
- If you are a high risk driver, do they have special markets for your coverage?
- Will the agent or a CSR service your policy?
- Do they receive special compensation for putting your coverage with one company over another?
- Which company do they place the most coverage with?
- Are you getting all the discounts the company offers?
- How many years of experience in personal auto insurance do they have?
Cover all your bases
When getting Lexington car insurance quotes online, it’s not a good idea to skimp on critical coverages to save a buck or two. There have been many situations where someone sacrificed liability coverage limits and learned later that a couple dollars of savings turned into a financial nightmare. Your objective should be to find the BEST coverage at an affordable rate.
Drivers leave their current company for a variety of reasons including unfair underwriting practices, high prices, policy cancellation and lack of trust in their agent. Regardless of your reason, finding a great new company is less work than it seems.
Lower-priced Dodge Magnum insurance in Lexington is definitely available both online and from local agencies, and you should be comparing both in order to have the best price selection to choose from. Some insurance providers may not provide online quoting and these smaller companies only sell coverage through local independent agencies.
To read more, feel free to visit the resources below:
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Who Has Cheap Car Insurance for High Risk Drivers in Lexington? (FAQ)
- Who Has Affordable Lexington Car Insurance Rates for Good Drivers? (FAQ)
- Avoiding Deer Collisions (Insurance Information Institute)
- Teen Driving Statistics (iihs.org)