All drivers in South Bend and throughout Indiana need to buy car insurance both to meet the state’s financial responsibility law and to protect themselves from financial harm in the event of an accident. Shopping for car insurance can seem overwhelming at first, but with a little preparation, drivers can find good coverage for their vehicles at a fair price.
Car Insurance Rate Considerations
Indiana’s Department of Insurance regulates insurance companies and dictates the legitimate factors insurance companies can consider in setting car insurance rates.
Some of those factors include:
- Marital status
- Driver record
- Car use
- Place of residence
- Policy limits
- Type of car
- Driver training
- Claims history
- Credit score
When an insurance company wants to set a rate for car insurance, they must get approval from the Department of Insurance. Drivers should remember that there are a limited number of legitimate considerations that determine rates when buying car insurance.
Getting the Best Car Insurance Deal:
- Comparison shop: Comparison shopping is one of the best ways drivers can find a good deal on car insurance. There are many one-stop shopping sites online that allow drivers to compare different car insurance quotes.
- Drivers can also call their local agent to receive a quote on a policy. When drivers comparison shop, they should make sure that they are comparing policies with the same coverage limits, deductibles and other features so they can do an apples-to-apples comparison.
- Purchase enough coverage: While rates are an important consideration for car insurance, drivers also want to get enough coverage for their financial circumstances. Drivers should have as much insurance coverage as they can afford.
- Keep in mind that in the event of an accident, injured drivers can pursue damages from the at-fault driver for the accident. If the accident results in $70,000 in damages to the other driver, and the at-fault driver only has $50,000 in insurance coverage, the injured driver can try to collect $20,000 from the at-fault driver’s personal assets.
- Ask about discounts: There are also many discounts for which drivers may qualify that reduce insurance rates. Some of these discounts might include working from home, taking a defensive driving course, good student discounts, and accident-free discounts. Consumers should mention these discounts to their insurance agent when they apply for coverage to get the lowest rate possible.
How Can I Clear up My Car Insurance Record?
Drivers can pull their Bureau of Motor Vehicle (BMV) record online or at a state office. If there are mistakes on the record, the driver can ask the BMV to produce proof of the citation and try to get the mistaken record removed. Also, when drivers receive citations, they can go to court to contest the citations and remove the points. BMV points are removed from the record over time as long as there are no further incidents, and drivers may complete certain classes to remove points as well.
Clearing up a credit report can also result in lower rates. Drivers can dispute fraudulent records by writing a letter explaining the mistake to the credit reporting agency.
Hensley Legal Group is committed to helping injured drivers recover damages from an at-fault driver’s insurance company in the event of an accident in Indiana. Contact our office to speak with an attorney.