If saving money is your primary concern, then the best way to find low-cost Pontiac GTO insurance is to compare prices once a year from insurance carriers in Detroit. Rates can be compared by completing these steps.
- Get an understanding of how companies price auto insurance and the changes you can make to prevent expensive coverage. Many risk factors that result in higher prices like speeding tickets, accidents and a lousy credit rating can be rectified by making minor changes to your lifestyle. Read the full article for additional tips to get lower rates and get bigger discounts.
- Request rate estimates from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like GEICO or State Farm, while independent agencies can provide prices for many different companies.
- Compare the price quotes to your existing policy to see if you can save by switching companies. If you find a better price and buy the policy, make sure coverage is continuous and does not lapse.
One key aspect of rate comparisons is to use the same physical damage deductibles and liability limits on each quote request and and to compare every company you can. Doing this ensures an accurate price comparison and a better comparison of the market.
Everyone knows that insurance companies don’t want policyholders to shop around. People who shop around for a cheaper policy are inclined to move their business because they have a good chance of finding a policy with more affordable rates. A recent study showed that people who compared rates regularly saved an average of $860 a year compared to those who never compared other company’s rates.
If finding the lowest rates on car insurance is your ultimate objective, learning how to compare auto insurance can save money and time.
The are a couple different ways of comparing price quotes from lots of Michigan car insurance companies. The easiest way to find affordable Pontiac GTO insurance rates consists of shopping online. When price shopping your coverage, more quotes helps increase your odds of locating the best price.
The following companies are our best choices to provide quotes in Detroit, MI. If you want to find cheap auto insurance in Detroit, MI, we suggest you get rate quotes from several of them to get a more complete price comparison.
It may be expensive, but it’s not optional
Despite the high cost of buying insurance for a Pontiac GTO in Detroit, insurance serves an important purpose.
- Most states have compulsory liability insurance requirements which means state laws require a minimum amount of liability if you don’t want to risk a ticket. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you took out a loan on your vehicle, it’s guaranteed your bank will require you to have insurance to guarantee loan repayment. If you do not keep the policy in force, the lender may insure your Pontiac at a more expensive rate and require you to fork over for it.
- Insurance preserves both your car and your assets. Insurance will pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if you cause an accident and are sued. If mother nature or an accident damages your car, your insurance policy will pay to repair the damage.
The benefits of having insurance definitely exceed the cost, especially for larger claims. An average driver in America overpays as much as $800 each year so smart consumers compare quotes at every renewal to save money.
Four Things That Affect Your Insurance Costs
Smart consumers have a good feel for the factors that play a part in calculating your policy premiums. When you understand what determines base rates, this empowers consumers to make smart changes that could help you find lower rates.
The following are a few of the things insurance companies consider when setting rates.
Age of drivers impacts costs – Mature drivers have been proven to be more responsible, are lower risk to insure, and get fewer tickets. Teenage drivers are statistically proven to be inattentive and easily distracted when driving with friends so they pay higher insurance rates.
Theft deterrents lowers rates – Buying a car with a theft deterrent system can help bring down rates. Theft deterrent systems such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all hinder car theft.
Never let your coverage expire – Allowing your insurance policy to lapse is a fast way to drive up your policy premiums. Not only will you pay higher rates, getting caught without coverage may result in fines or a revoked license. You may then be required to prove you have insurance by filing a SR-22 with the Michigan department of motor vehicles.
Save money with higher deductibles – Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, covers your vehicle from damage. Some examples of claims that would be covered are running into the backend of another car, collision with an animal, and rolling your vehicle. Physical damage deductibles are how much you are required to spend if a covered claim is submitted. The more you’re willing to pay, the less your company will charge you for insurance.
You may need specialized auto insurance coverage
When buying coverage for your vehicles, there really isn’t a perfect coverage plan. Everyone’s situation is unique and your policy should reflect that.
For example, these questions might help in determining if your insurance needs would benefit from professional advice.
- Is my nanny covered when driving my vehicle?
- Am I covered if I drive in a foreign country?
- Should I waive the damage coverage when renting a car?
- Am I covered while delivering pizza?
- How high should my uninsured/underinsured coverage be in Michigan?
- Can I use my car for my catering business?
- Do I pay less if my vehicle is kept in my garage?
- When can my company non-renew my policy?
- Is business property covered if stolen from my car?
If you don’t know the answers to these questions but a few of them apply, you might consider talking to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies.
You can lower your insurance rates
Throughout this article, we presented a lot of information how to compare Pontiac GTO insurance rates in Detroit. The key thing to remember is the more you quote Detroit auto insurance, the better chance you’ll have of finding inexpensive Detroit auto insurance quotes. Drivers may even discover the lowest rates come from a small local company. They may cover specific market segments cheaper as compared to the big name companies such as State Farm, GEICO and Nationwide.
As you prepare to switch companies, don’t be tempted to buy poor coverage just to save money. Too many times, someone dropped liability coverage limits and found out when filing a claim that they should have had better coverage. Your focus should be to purchase a proper amount of coverage at the best price while still protecting your assets.
The cheapest Pontiac GTO insurance in Detroit can be sourced online as well as from independent agents in Detroit, so you need to shop Detroit auto insurance with both to have the best rate selection. There are still a few companies who may not provide rate quotes online and these small, regional companies provide coverage only through independent agents.
Even more information is available at these sites:
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- What Auto Insurance is Cheapest for Drivers Over Age 50 in Detroit? (FAQ)
- Insurance losses by make and model (Insurance Institute for Highway Safety)
- Rental Reimbursement Coverage (Allstate)
- Choosing a Car for Your Teen (State Farm)