How many times have you said it's time to compare more affordable auto insurance rates in Phoenix, AZ? Finding low cost rates for auto insurance could be slightly frustrating for drivers who are new to buying insurance online. With so many options of insurers to choose from, it can easily become a challenge to find the best rates.
Astonishing but true, over 70% of consumers have remained with the same auto insurance company for four years or more, and virtually 40% of consumers have never compared rates to find cheap insurance. Many consumers in Arizona can cut their rates by as much as 50% a year by just comparing rate quotes, but most just don't grasp the large savings they would see if they switched to a more affordable policy.
Buying the cheapest auto insurance in Phoenix is not rocket science. If you have auto insurance now, you will definitely be able to find the best rates using the techniques covered below. But Arizona vehicle owners need to learn the way insurance companies price insurance differently.
These discounts can lower auto insurance rates
Car insurance companies don't always publicize all discounts in an easy-to-find place, so the list below details a few of the more well known as well as some of the hidden credits available to bring down your rates. If they aren't giving you every credit available, you are not getting the best rate possible.
- Mature Driver Discount - Drivers that qualify as senior citizens are able to get a small discount on rates.
- Service Members Pay Less - Being on active duty in the military could trigger a small discount.
- Accident Forgiveness Coverage - This isn't a discount exactly, but some insurance companies allow you one accident without the usual rate increase so long as you are claim-free for a set time period.
- E-sign - Some of the larger companies provide a small discount just for signing your application on the internet.
- Discount for Life Insurance - Larger insurance carriers have a discounted price on car insurance if you buy some life insurance in addition to your auto policy.
- Seat Belt Discounts - Buckling up and requiring all passengers to buckle up can save a little off the personal injury premium cost.
- Low Miles Discount - Maintaining low annual mileage can earn cheaper premium rates.
We need to note that most discount credits are not given to the entire cost. A few only apply to individual premiums such as liability and collision coverage. Despite the fact that it seems like all the discounts add up to a free policy, it just doesn't work that way.
A few of the larger companies and some of the premium reductions they offer are:
- Progressive offers premium reductions for homeowner, online signing, continuous coverage, multi-vehicle, and multi-policy.
- The Hartford may include discounts for driver training, anti-theft, defensive driver, vehicle fuel type, good student, bundle, and air bag.
- Mercury Insurance has savings for age of vehicle, annual mileage, good driver, good student, and low natural disaster claims.
- GEICO offers discounts for multi-policy, driver training, multi-vehicle, defensive driver, anti-theft, and five-year accident-free.
- AAA discounts include good driver, pay-in-full, multi-car, AAA membership discount, and education and occupation.
- State Farm has discounts for good driver, Drive Safe & Save, multiple autos, multiple policy, and student away at school.
If you are trying to find affordable Phoenix auto insurance quotes, ask all companies you are considering to give you their best rates. Depending on the company, some discounts might not be offered in every state. For a list of auto insurance companies that have a full spectrum of discounts in Arizona, click here to view.
How to shop car insurance online
When comparing car insurance rates, know that comparing more quotes helps improve the odds of finding more affordable insurance. Some companies don't provide rate quotes online, so you need to compare rates from the smaller companies as well.
The companies shown below offer free quotes in Phoenix, AZ. To get cheap auto insurance in Phoenix, we recommend you visit two to three different companies to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LT Crew Cab 2WD||$1,190||$595||$99|
|Dodge Ram Crew Cab Laramie 2WD||$830||$415||$69|
|Ford Escape XLS 4WD||$768||$384||$64|
|Ford F-150 Lariat Super Cab 4WD||$1,066||$533||$89|
|Ford Focus SE 4-Dr Sedan||$788||$394||$66|
|Honda Accord EX 4-Dr Sedan||$868||$434||$72|
|Honda CR-V EX-L 2WD||$926||$463||$77|
|Honda Civic LX 4-Dr Sedan||$852||$426||$71|
|Hyundai Elantra GLS 4-Dr Sedan||$1,272||$636||$106|
|Jeep Grand Cherokee Limited 2WD||$874||$437||$73|
|Jeep Wrangler Sport 4WD 2-Dr||$846||$423||$71|
|Nissan Altima Hybrid 4-Dr Sedan||$982||$491||$82|
|Toyota Camry SE||$842||$421||$70|
|Toyota Corolla S||$1,076||$538||$90|
|Toyota RAV4 Sport 4WD||$696||$348||$58|
|Volkswagen Jetta LE 4-Dr Sedan||$824||$412||$69|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Arizona minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Premium amounts do not factor in specific Phoenix garaging location which can impact insurance rates greatly.
Liability-only versus full coverage
The illustration below shows the comparison of Chevrolet Silverado annual premium costs with full coverage compared to only the Arizona minimum liability coverage. The rate quotes are based on no claims or driving citations, $500 deductibles, married female driver, and no additional discounts are factored in.
Chevrolet Silverado rates are for example purposes only. To get rates for your specific vehicle, click here.
When to drop full coverage
There is no definitive rule that is best for determining when to drop full coverage, but there is a broad guideline. If the yearly cost of full coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let's pretend your Chevrolet Silverado claim settlement value is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $8,000 after paying your deductible. If it's costing in excess of $800 annually for physical damage coverage, then you may need to consider dropping full coverage.
There are some situations where eliminating full coverage is not recommended. If you haven't satisfied your loan, you must maintain physical damage coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not buy liability only.
Learn how to quote insurance for less
Many things are taken into consideration when quoting car insurance. Some of the criteria are obvious like an MVR report, although others are not as apparent such as your credit history and annual miles driven.
- Younger drivers pay more - Inexperience drivers are statistically shown to be inattentive when driving with friends so they pay higher insurance rates. Older, more experienced drivers are shown to be more cautious, cost insurance companies less in claims, and are safer drivers.
- Discounts for auto and home policies - The majority of insurance companies give a discount to buyers who consolidate policies with them in the form of a multi-policy discount. Discounts can be as much as ten percent or more Even if you're getting this discount it's still a good idea to get quotes from other companies to confirm you are receiving the best rates possible. Consumers may find lower rates by buying from different companies
- Rates and occupation - Do you work in a high-stress field? Jobs like doctors, social workers and accountants usually pay the highest average rates because of job stress and lengthy work days. Other occupations like actors, historians and performers have lower than average premiums.
- Single drivers take more risk - Having a spouse may earn you lower rates on your insurance bill. It means you're more mature than a single person and statistics show married drivers tend to have fewer serious accidents.
Tailor your insurance coverage to you
When it comes to choosing coverage online or from an agent for your personal vehicles, there really is not a perfect coverage plan. Coverage needs to be tailored to your specific needs.
Here are some questions about coverages that can aid in determining whether or not you will benefit from professional help.
- Am I covered if I wreck a rental car?
- Which companies will insure me after a DUI?
- Do I benefit by insuring my home with the same company?
- Do I pay less if my vehicle is kept in my garage?
- What is the ISO rating for a vehicle?
- What happens if I owe more than my vehicle is worth?
- Is there a penalty for late payment?
- Can I rent a car in Mexico?
- When would I need additional glass coverage?
If you can't answer these questions, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, simply complete this short form.
Compare prices but buy from a neighborhood Phoenix auto insurance agent
A small number of people still like to talk to an insurance agent and often times that is recommended The biggest benefit of comparing car insurance online is that you can find the lowest rates and also buy local.
After filling out this short form, your coverage information gets sent to participating agents in Phoenix that provide free Phoenix auto insurance quotes and help you find cheaper coverage. You never need to contact any agents because prices are sent directly to you. You can find lower rates AND a local agent. In the event you want to get a comparison quote for a specific company, feel free to find their quoting web page and fill out their quote form.
Finding the right insurance company requires more thought than just a low price. Ask your prospective agent these questions:
- Is vehicle mileage a factor when determining depreciation for repairs?
- How often do they review policy coverages?
- How much will you save each year by using a higher deductible?
- Is auto insurance their primary focus in Phoenix?
- Are they full-time agents?
The following are Phoenix auto insurance companies who can help you get rate quotes.
- GEICO Insurance Agent
9515 W Camelback Rd #134 - Phoenix, AZ 85037 - (602) 234-3426 - View Map
- Andra Jeffress - State Farm Insurance Agent
1704 W Bethany Home Rd - Phoenix, AZ 85015 - (602) 249-1037 - View Map
- Rodriguez Insurance
5720 N 27th Ave - Phoenix, AZ 85017 - (602) 242-5303 - View Map
- Nichole Schaffer - State Farm Insurance Agent
2612 N 7th St - Phoenix, AZ 85006 - (602) 439-7000 - View Map
Upon getting answers to your satisfaction to any questions you may have and locked in a price quote, you may have found an insurer that meets the requirements to service your policy.
Car insurance is an important decision
Despite the high cost of buying insurance in Phoenix, car insurance serves a purpose in several ways.
- Just about all states have mandatory liability insurance requirements which means the state requires specific limits of liability if you want to drive legally. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your vehicle, most lenders will make it a condition of the loan that you buy insurance to protect their interest in the vehicle. If the policy lapses, the lender will be forced to insure your vehicle at a significantly higher premium and make you pay the higher premium.
- Insurance protects not only your vehicle but also your financial assets. It will also reimburse you for medical transport and hospital expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if anyone sues you for causing an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay to repair the damage.
The benefits of having insurance outweigh the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is wasting up to $800 each year so you should quote and compare rates once a year at a minimum to make sure the price is not too high.
Cheap insurance premiums are possible
You just read many ideas to save on insurance in Phoenix. The key concept to understand is the more providers you compare, the higher your chance of finding the cheapest Phoenix auto insurance quotes. Drivers may even discover the lowest rates come from a small local company.
Insureds who switch companies do it for many reasons like high prices, being labeled a high risk driver, lack of trust in their agent or even policy cancellation. Whatever your reason, finding a new insurance company can be pretty painless.
While you're price shopping online, you should never buy lower coverage limits just to save a few bucks. Too many times, someone sacrificed collision coverage only to discover later they didn't purchase enough coverage. Your aim should be to buy a smart amount of coverage at a price you can afford, but do not skimp to save money.
More detailed insurance information can be found in the articles below:
- Understanding Rental Car Insurance (Insurance Information Institute)
- What is the Cheapest Car Insurance in Bullhead City, Arizona? (FAQ)
- How Much is Car Insurance for Inexperienced Drivers in Arizona? (FAQ)
- Who Has Affordable Arizona Auto Insurance for Drivers Under 25? (FAQ)
- Who Has Cheap Car Insurance Rates for Welfare Recipients in Arizona? (FAQ)
- What Insurance is Cheapest for Uber Drivers in Arizona? (FAQ)
- New head restraint design cuts injuries (Insurance Institute for Highway Safety)
- Credit Impacts Car Insurance Rates (State Farm)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Comprehensive Coverage (Liberty Mutual)