Best Arizona Auto Insurance Rate
Arizonans riding the economic downturn have in recent months found it increasingly difficult to keep up with monthly expenses. We clip coupons, collect grocery and gas cards, and shave off whatever little we can from our bills. Looking around however, you’ll find that there are other areas to cut costs, and one of the biggest dents in your wallet is your monthly auto insurance premium. Thankfully, if you’re willing to do a little homework and ask around, there are plenty of ways to keep that payment to a minimum.
Do Your Research and Compare Quotes
Seems like the easiest part, right? Cheaper is obviously better . . . sometimes. The ultra-low premium might be less attractive if you find that the insurer offering that rate has a pathetic customer service record. When you want to file a claim, you’ll be much happier if you’re dealing with an insurance company that has a history of honoring valid requests.
Arizona’s very own Department of Insurance offers a wealth of information to drivers. You can compare sample quotes, view company profiles, and see complaint histories. Included too is plenty of info on Arizona insurance laws, as well as advice on sorting through all the information. Before you start to gather more tailored quotes from individual insurer websites, take advantage of the help the DoI has to offer.
Know the Coverage
There’s no way to overstate the importance of understanding exactly what your insurance policy does and does not cover. Besides making life much easier in the event of an accident, knowing your coverage also allows you adjust the details of your plan to better accommodate your budget. Of course, you’ll be forced to stay above certain minimums. Arizona law requires at least:
- $10,000 of coverage for property damage
- $15,000 of coverage for single-person injury
- $30,000 for total injuries.
These figures are substantially below the national average. Colorado, for instance, mandates at least $50,000 for total injury liability. You’ll want to think long and hard about raising or lowering your basic coverage. Any costs that go over the cap will have to be paid out of pocket.
Also understand how your insurer could cancel your policy. Arizona law has a sixty day discovery policy, which means that if an insurance company finds a significant risk in your circumstances within sixty days of giving you an offer, they can cancel your coverage. Also, the law allows for strict regulation of multiple drivers on a single policy. If your little brother will be driving your car pretty regularly, then a DUI on his record could be just as damaging as one on your own. Thankfully, you can improve your standing by agreeing to exclude certain drivers from operating your insured vehicle.
Adjust the Details
There are a few easy ways to significantly lower your monthly premium, if you’re willing to carefully consider your options. You could ask your insurance agent about raising your deductible, for instance. If you’re willing to pay several more hundred dollars out of pocket in the event of an accident, you could drastically lower the amount you’re handing over each month. Also, you might want to think about eliminating your collision or comprehensive coverage. If you have an older vehicle whose immediate cash value is pretty low (under a grand, let’s say), then it may not be worth spending so much each month for so little possible return. Talk to your insurer about other options. They should be more than willing to tailor your policy to meet your needs.
Grab the Discounts
And while you’re talking to your agent, bring up the topic of discounts. There are probably far more than you realize. Military personnel, teachers, good students – there’s easily something for everyone. Ask about low mileage discounts, or rate reductions that come after you’ve taken a simple online driving safety course. Realize that to the insurer you’re just a collection of risks. If you can demonstrate that you’re minimizing or eliminating those risks, you can land a pretty hefty reduction on your Arizona car insurance premium.