Want to learn the secrets to finding more affordable Jeep Compass insurance in Plano? No one loves paying for insurance, in particular when they could find better prices if they shop around.
It’s a fact that car insurance companies don’t want policyholders to compare prices from other companies. Consumers who get price quotes annually are very likely to buy a new policy because the odds are good of finding a lower-cost company. A recent survey discovered that drivers who routinely compared rates saved about $3,500 over four years compared to those who never shopped around for better prices.
If finding the lowest price for Jeep Compass insurance is the reason you’re reading this, then learning a little about the best way to quote and compare auto insurance can make it easier to shop your coverage around.
How to buy lower priced Jeep Compass insurance in Plano
The most effective way to get the cheapest Jeep Compass insurance is to do a yearly price comparison from companies in Plano. Rates can be compared by following these guidelines.
First, spend some time learning about the coverage provided by your policy and the factors you can control to lower rates. Many rating factors that increase rates like tickets, at-fault accidents, and poor credit rating can be controlled by making small lifestyle or driving habit changes. Read the full article for tips to prevent expensive rate increases and get additional discounts that may be available.
Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from one company like Progressive or State Farm, while independent agencies can quote rates for a wide range of insurance providers.
Third, compare the price quotes to your current policy premium to determine if you can save on Compass insurance. If you find a lower rate and make a switch, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, tell your current agent or company of your intent to cancel your current car insurance policy and submit a completed policy application and payment to your new company or agent. Immediately upon receiving it, put the certificate verifying proof of insurance somewhere easily accessible.
The critical component of shopping around is to make sure you enter similar limits and deductibles on each quote and and to get price estimates from as many carriers as you can. This enables an accurate price comparison and the best price selection.
Insurance companies such as GEICO, Progressive and Allstate increase brand awareness with TV and radio ads and consumers find it hard to see past the geckos and flying pigs and find the best price available.
Consumers need to quote other rates on a regular basis because insurance rates tend to go up over time. Despite the fact that you may have had the best deal on Jeep Compass insurance in Plano a couple years back you may be paying too much now. There is a lot of bad advice regarding Compass insurance online but I’m going to show you some great ways to quit paying high insurance rates in Plano.
Cheap companies for Jeep Compass insurance in Texas
The companies in the list below provide free quotes in Plano, TX. If you wish to find the best cheap auto insurance in Plano, it’s highly recommended you visit as many as you can to get a more complete price comparison.
Jeep Compass coverage statistics
The data table shown below covers different insurance costs for Jeep Compass models. Being able to understand how premiums are calculated is important to be able to make smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Compass Sport 2WD||$180||$322||$400||$24||$120||$1,046||$87|
|Compass Sport 4WD||$206||$392||$400||$24||$120||$1,142||$95|
|Compass Limited 2WD||$206||$392||$400||$24||$120||$1,142||$95|
|Compass Limited 4WD||$206||$392||$400||$24||$120||$1,142||$95|
|Get Your Own Custom Quote Go|
Data variables include married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Estimates do not factor in specific Plano garaging location which can raise or lower coverage rates substantially.
Violations and accidents raise rates
The information below highlights how speeding tickets and at-fault collisions raise Jeep Compass insurance rates for each different age category. The information is based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.
Rate comparison of males versus females
The chart below compares Jeep Compass insurance costs for male and female drivers. The information is based on no claims, a clean driving record, comprehensive and collision coverage, $1,000 deductibles, marital status is single, and no other discounts are factored in.
Should you buy full coverage?
The information below illustrates the comparison of Jeep Compass insurance prices with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data is based on no violations or accidents, $500 deductibles, drivers are not married, and no discounts are taken into consideration.
Should you pay for full coverage?
There isn’t a written rule that is best for determining when to drop physical damage coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then it might be time to buy liability only.
For example, let’s pretend your Jeep Compass book value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $8,000 after paying your policy deductible. If it’s costing you more than $800 annually to have full coverage, then it may be the right time to buy liability only.
There are some situations where buying only liability insurance is not in your best interest. If you haven’t paid off your loan, you have to carry full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle in the even your car is totaled, you should not remove full coverage.
How do Insurance Providers Determine Jeep Compass Insurance Premiums?
Smart consumers have a good feel for some of the elements that go into determining the rates you pay for car insurance. If you have some idea of what impacts premium levels, this allows you to make educated decisions that can help you get big savings.
The items below are just a few of the factors used by your company to calculate rates.
Drive less and save – Driving a lot of miles annually the higher your rate. Most companies charge rates determined by how the vehicle is used. Vehicles not used for work or commuting can be on a lower rate level than vehicles that have high annual mileage. Ask your agent if your car insurance policy is showing annual mileage, because it can save money. An improperly rated Compass may be wasting your money.
Save money with high credit – A driver’s credit history factor in your rate calculation. Drivers who have high credit ratings tend to file fewer claims than those with lower credit ratings. Therefore, if your credit score is not that good, you could save money insuring your Jeep Compass by improving your credit score.
Liability protection risk factors – Your car insurance policy’s liability coverage is the coverage that protects you if you are responsible for damages from an accident. Your liability coverage provides legal defense which can cost thousands of dollars. This coverage is relatively inexpensive compared to physical damage coverage, so do not skimp.
Teen drivers pay high rates – Older drivers are more cautious drivers, are lower risk to insure, and usually have better credit. Inexperience drivers are known to be easily distracted when driving with friends therefore car insurance rates are much higher.
The following data assumes a single driver, full coverage with $100 deductibles, and no discounts or violations.
Alarm systems save money – Choosing a vehicle with a theft deterrent system can help lower your rates. Systems that thwart thieves like OnStar, LoJack tracking, and tamper alarms all aid in stopping auto theft and help lower rates.
Low stress job equals lower premiums – Occupations like lawyers, executives, and medical professionals generally have higher premiums than the average policyholder due to job stress and lengthy work days. On the other hand, professions such as farmers, students and homemakers pay lower than average rates.
Jeep Compass insurance loss statistics – Companies factor in historical loss data to help determine rates. Models that historically have a trend towards higher claim severity or frequency will have higher premium rates.
The table below outlines the actual insurance loss data for Jeep Compass vehicles. For each type of coverage, the claim amount for all vehicles combined as an average is a value of 100. Values that are under 100 are indicative of better than average losses, while numbers above 100 indicate more frequent claims or an increased chance of a larger loss.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Jeep Compass 4dr 2WD||87||135||58||128||124||142|
|Jeep Compass 4dr 4WD||76||114||63||99||107||106|
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Discounts for affordable insurance rates
Companies that sell car insurance do not list every discount available very well, so the list below contains both the well known and also the lesser-known credits available to bring down your rates.
- Sign Early and Save – A few companies offer discounts for switching companies before your current expiration date. It can save you around 10%.
- Multi-policy Discount – If you combine your homeowners and auto policies and insure them with the same company you may save approximately 10% to 15%.
- Seat Belts Save – Drivers who require all occupants to buckle their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
- Defensive Driver Discounts – Successfully completing a course that instructs on driving safety could cut 5% off your bill if your company offers it.
- Onboard Data Collection – Drivers who elect to allow driving data submission to spy on driving manner by using a telematic data system such as State Farm’s In-Drive might get better premium rates if their driving habits are good.
- Theft Deterrent – Cars that have factory anti-theft systems are stolen with less frequency and will qualify for a discount on a Plano auto insurance quote.
- Discounts for Federal Employees – Being employed by or retired from a federal job could provide a small rate reduction with select insurance companies.
Just know that most credits do not apply to your bottom line cost. A few only apply to individual premiums such as collision or personal injury protection. Despite the appearance that you would end up receiving a 100% discount, insurance companies wouldn’t stay in business.
The diagram below illustrates the comparison of Jeep Compass auto insurance costs with and without discounts applied to the rates. The prices are based on a male driver, no claims or driving citations, Texas state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, marriage, safe-driver, claim-free, multi-policy, and multi-car discounts applied.
Companies and their offered discounts are:
- Mercury Insurance may offer discounts for type of vehicle, multi-policy, professional/association, accident-free, and good student.
- Farmers Insurance has discounts for youthful driver, good student, homeowner, alternative fuel, and business and professional.
- Farm Bureau offers discounts for driver training, safe driver, multi-policy, youthful driver, multi-vehicle, and 55 and retired.
- State Farm offers premium reductions for safe vehicle, defensive driving training, accident-free, passive restraint, Steer Clear safe driver discount, and anti-theft.
- Allstate may have discounts that include EZ pay plan discount, safe driver, passive restraint, 55 and retired, resident student, farm vehicle, and auto/life discount.
- GEICO may include discounts for defensive driver, federal employee, five-year accident-free, anti-lock brakes, daytime running lights, and good student.
Check with each company or agent which credits you are entitled to. Savings may not apply to policyholders in Plano. To find providers that offer the discounts shown above in Texas, click here to view.
What if I want to buy from local Plano car insurance agents?
Certain consumers still like to sit down and talk to an agent. Insurance agents are highly skilled in risk management and help submit paperwork. One of the great benefits of getting online price quotes is you may find cheap auto insurance rates and still choose a local agent.
To help locate an agent, after submitting this quick form, your insurance coverage information is transmitted to companies in Plano that can provide free Plano auto insurance quotes for your coverage. You won’t even need to contact any agents since price quotes are sent straight to your inbox. If you have a need to get a rate quote from one company in particular, just visit that company’s website and give them your coverage information.
Finding the right provider is decision based upon more than just a cheap price. You should also get answers to these questions.
- Who is covered by the car insurance policy?
- Are you getting all the discounts the company offers?
- Which insurance company do they prefer to write with?
- If you raise deductibles, how much can you save?
- Is there any savings for paying the full premium?
- Is coverage determined by price?
- If you are a high risk driver, do they have special markets for your coverage?
- Can you contact them at any time?
When searching for a good Plano insurance agent, you should know the types of agencies that you can choose from. Agencies in Plano can be classified as either exclusive agents or independent agents. Both types can write policy coverage, but it’s important to point out the difference between them since it can impact buying decisions.
Exclusive Auto Insurance Agents
Exclusive insurance agents normally can only provide a single company’s rates and examples are AAA, State Farm, Farmers Insurance, and Allstate. They are unable to give you multiple price quotes so they have no alternatives for high prices. Exclusive agencies are very knowledgeable on their products and sales techniques and that allows them to sell at a higher price point.
Shown below is a short list of exclusive insurance agencies in Plano that are able to give rate quotes.
Independent Auto Insurance Agencies
Agents that elect to be independent can quote rates with many companies so as a result can place your coverage with an assortment of companies and help determine which has the cheapest rates. If they find a lower price, the business is moved internally and that require little work on your part. If you are comparing rate quotes, you absolutely need to include a few independent agents so that you have a good selection of quotes to compare.
Listed below are Plano independent agencies willing to provide price quote information.
Which auto insurance company is best in Texas?
Buying coverage from a good quality auto insurance company can be difficult considering how many choices there are in Plano. The company information listed below can help you decide which auto insurers to look at when shopping your coverage around.
Top 10 Plano Car Insurance Companies Ranked by Value
- Mercury Insurance
- American Family
- AAA Insurance
- Safeco Insurance
- The Hartford
- The General
- 21st Century
Top 10 Plano Car Insurance Companies Overall
- Mercury Insurance
- AAA Insurance
- State Farm
- The Hartford
- Safeco Insurance
How do I know if I need professional advice?
When it comes to buying coverage, there is no single plan that fits everyone. Each situation is unique so your insurance should reflect that
These are some specific questions might help in determining if your situation will benefit from professional help.
- Why is insurance for a teen driver so high in Plano?
- Is my business laptop covered if it gets stolen from my vehicle?
- Am I covered when delivering products for my home-based business?
- What is an umbrella policy?
- Should I carry comprehensive and collision coverage?
- Is borrowed equipment or tools covered if stolen or damaged?
- Is motorclub coverage worth it?
- How long can I keep a teen driver on my policy?
- What is the rate difference between pleasure use and commuting?
- What does roadside assistance cover?
If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, free and can provide invaluable advice.
Quote often and quote early
As you prepare to switch companies, you should never skimp on critical coverages to save a buck or two. In many instances, drivers have reduced liability limits or collision coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. The proper strategy is to buy enough coverage at the best possible price, but don’t skip important coverages to save money.
In this article, we presented some good ideas how you can save on Jeep Compass insurance in Plano. The most important thing to understand is the more companies you get prices for, the better likelihood of getting the cheapest Jeep Compass rate quotes. You may even find the most savings is with some of the lesser-known companies. Regional companies can often insure niche markets at a lower cost compared to the large companies like State Farm and Allstate.
Steps to finding discount Jeep Compass insurance in Plano
The most effective way to save money on Jeep Compass insurance is to compare prices at least once a year from providers in Plano. You can shop around by following these steps.
- Get an understanding of coverages and the things you can control to keep rates in check. Many factors that are responsible for high rates like your driving record and an unfavorable credit rating can be remedied by making minor changes to your lifestyle.
- Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like Progressive or State Farm, while independent agents can provide rate quotes from multiple insurance companies.
- Compare the new rate quotes to your current policy to see if a cheaper price is available in Plano. If you can save some money and make a switch, make sure coverage does not lapse between policies.
One thing to point out is to use similar deductibles and liability limits on every quote request and and to analyze all possible companies. Doing this helps ensure an accurate price comparison and many rates to choose from.
For more information, link through to these articles:
- Credit Impacts Car Insurance Rates (State Farm)
- Who Has Affordable Plano Car Insurance Quotes for a Nissan Altima? (FAQ)
- Who Has Cheap Auto Insurance for Real Estate Agents in Plano? (FAQ)
- Who Has the Cheapest Auto Insurance for a Toyota Tundra in Plano? (FAQ)
- What Insurance is Cheapest for Government Employees in Plano? (FAQ)
- What Auto Insurance is Cheapest for Seniors in Plano? (FAQ)
- What Car Insurance is Cheapest for a Hyundai Elantra in Plano? (FAQ)
- Who Has Cheap Car Insurance Quotes for Welfare Recipients in Plano? (FAQ)
- Auto Insurance 101 (About.com)
- Neck Injury FAQ (iihs.org)
- Cellphones, Texting and Driving (iihs.org)
- Distracted Driving Extends Beyond Texting (State Farm)