It’s hard to believe, but most car insurance customers have been with the same company for four years or more, and almost 40% of drivers have never shopped around. Many drivers in Lincoln can save hundreds of dollars each year by just comparing quotes, but most tend to underestimate the amount of money they would save if they replace their high priced policy.
Really, the only way to get more affordable auto insurance rates in Lincoln is to compare prices regularly from companies that insure vehicles in Nebraska.
- Take a little time to learn about auto insurance and the modifications you can make to lower rates. Many rating criteria that result in higher rates such as speeding tickets, accidents and an imperfect credit history can be eliminated by making minor changes in your lifestyle. Later in this article we will cover ideas to help reduce prices and get discounts that may be overlooked.
- Compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like Progressive or Allstate, while independent agents can provide prices for many different companies.
- Compare the quotes to your existing rates to see if a cheaper rate is available. If you find a lower rate and make a switch, make sure coverage does not lapse between policies.
- Provide notification to your current company of your intent to cancel your existing policy. Submit any necessary down payment along with the completed application to your new agent or company. Immediately upon receiving it, keep your new proof of insurance certificate in a readily accessible location in your vehicle.
A key point to remember is that you use the same deductibles and limits on every price quote and and to analyze as many companies as you can. Doing this provides an accurate price comparison and and a good selection of different prices.
Cut Insurance Costs with These Tips
Smart consumers have a good feel for some of the things that play a part in calculating your premiums. If you have a feel for what positively or negatively impacts your premiums, this enables you to make decisions that may reward you with much lower annual insurance costs.
The list below includes some of the major factors used by insurance companies to determine your prices.
Get better rates if married – Being married may cut your premiums when buying insurance. Marriage usually means you are less irresponsible and it’s proven that drivers who are married are more cautious.
Your credit history is important – Having a bad credit rating is a large factor in determining what you pay. Drivers who have high credit ratings tend to be better drivers and file fewer claims than drivers with lower credit scores. Therefore, if your credit is not that good, you may save money insuring your Honda Insight by improving your rating.
Consolidating policies can get discounts – Some insurance companies afford better rates to insureds who have multiple policies with them in the form of a multi-policy discount. The discount can add up to as much as ten percent or more Even though this discount sounds good, you still need to compare other company rates to verify if the discount is saving money.There is a chance you can find a better deal even if you insure with multiple companies
Insurance policy lapses increase premiums – Having a lapse in insurance coverage is a guaranteed way to increase your insurance rates. In addition to paying higher premiums, not being able to provide proof of insurance might get you a license revocation or jail time. You may then have to submit proof of financial responsibility or a SR-22 with the Nebraska DMV.
Occupation and insurance rates – Occupations like real estate brokers, police officers, and medical professionals tend to have higher premiums than the average policyholder due to job stress and extremely grueling work hours. Other occupations like professors, engineers and performers have lower than average premiums.
Can a thief steal your car? – Owning a car with advanced anti-theft systems can help bring down rates. Anti-theft devices like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help prevent your car from being stolen.
When comparing auto insurance rates, know that having more price comparisons provides better odds of finding a better price. Not every company does Lincoln Insight insurance quotes online, so it’s recommended that you also compare rates from them, too.
The companies shown below can provide price quotes in Lincoln, NE. To get cheaper auto insurance in Lincoln, NE, it’s highly recommended you get price quotes from several of them in order to get a fair rate comparison.
Honda Insight detailed coverage information
The rate information displayed below covers a range of insurance coverage prices for Honda Insight models. Learning a little about how insurance policy rates are established can be of help when making informed decisions when shopping around for a new policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Insight LX | $198 | $448 | $362 | $22 | $108 | $1,138 | $95 |
| Insight EX | $226 | $528 | $362 | $22 | $108 | $1,246 | $104 |
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Prices above based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Premium amounts do not factor in vehicle garaging location which can influence premiums greatly.
The diagram below shows how different deductible levels and can impact Honda Insight insurance prices for different age groups. The price estimates are based on a married male driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Should you buy full coverage?
The information below visualizes the comparison of Honda Insight insurance premiums when comparing full coverage to state minimum liability only. The prices are based on no accidents or driving violations, $1,000 deductibles, single status, and no other discounts are factored in.
When to switch to liability coverage only
There is no set guideline that is best for determining when to drop full coverage, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost minus the deductible, then you may want to consider only buying liability coverage.
For example, let’s pretend your Honda Insight claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after paying the physical damage deductible. If premium cost is more than $200 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are some scenarios where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Why you need quality insurance for your vehicle
Despite the high cost, insurance may not be optional for several reasons.
- Most states have minimum liability requirements which means it is punishable by state law to not carry specific limits of liability protection if you don’t want to risk a ticket. In Nebraska these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your Honda Insight with a loan, almost all lenders will have a requirement that you have full coverage to guarantee payment of the loan. If you default on your policy, the lender may have to buy a policy to insure your Honda for a lot more money and make you pay a much higher amount than you were paying before.
- Auto insurance preserves not only your Honda Insight but also your assets. Insurance will also pay for all forms of medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the repair costs.
The benefits of carrying enough insurance are without a doubt worth the cost, especially for larger claims. The average driver in America is overpaying more than $855 a year so compare quotes from several companies every year to ensure rates are competitive.
Take policy discounts and save on Honda Insight insurance in Lincoln
Properly insuring your vehicles can get expensive, but there could be available discounts that may help make it more affordable. Some discounts apply automatically at the time of quoting, but a few must be inquired about in order for you to get them. If you check and find you aren’t receiving every discount you qualify for, you may be paying too high a price.
- Military Discounts – Being deployed in the military could mean lower auto insurance rates.
- Drivers Education – Teen drivers should take driver’s ed class as it can save substantially.
- Early Payment Discounts – If you pay your entire premium ahead of time instead of paying each month you may have a lower total premium amount.
- Waiver for an Accident – Not a discount per se, but some companies like State Farm, Progressive and GEICO allow you one accident before your rates go up so long as you haven’t had any claims before the accident.
- Discount for Swiching Early – Some larger companies reward drivers for buying a new policy early. It can save you around 10%.
- Life Insurance – Not all insurance companies offer life insurance, but some may give you lower prices if you buy life insurance.
- Good Driver Discount – Drivers who avoid accidents may receive a discount up to 45% than drivers with accident claims.
- Low Mileage – Fewer annual miles on your Honda can earn cheaper prices.
- Passenger Safety Discount – Vehicles equipped with air bags could see savings of up to 25% or more.
- Multiple Cars – Buying coverage for several vehicles on one policy qualifies for this discount.
Consumers should know that some of the credits will not apply to all coverage premiums. Most cut the price of certain insurance coverages like comprehensive or collision. So even though they make it sound like you can get free auto insurance, that’s just not realistic. Any qualifying discounts will help reduce the cost of coverage.
The chart below illustrates the difference between Honda Insight insurance rates with and without discounts being applied to the rates. The data assumes a male driver, no claims or violations, Nebraska state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-policy, multi-car, marriage, and homeowner discounts applied.
If you would like to see a list of insurance companies with discount rates in Nebraska, click here to view.
Do I need an agent?
Certain consumers would prefer to buy from a licensed agent and that is not a bad decision The best thing about comparing insurance prices online is you may find cheap rate quotes and still have a local agent.
To make it easy to find an agent, after completing this short form, your information is emailed to insurance agents in Lincoln that provide free Lincoln auto insurance quotes for your business. There is no reason to contact an agency since rate quotes are delivered immediately to your email address. You can most likely find cheaper rates and work with a local agent. In the event you want to compare prices from one company in particular, you would need to jump over to their website and complete a quote there.
Choosing an insurer requires you to look at more than just the quoted price. The questions below may impact your decision as well.
- Does the company use OEM repair parts?
- Do they get extra compensation for selling add-on coverages?
- Do you work with a CSR or direct with the agent?
- Do they carry Errors and Omissions coverage?
- Are claims handled at the agent’s location?
- How much will you save each year by using a higher deductible?
- Can they give you a list of client referrals?
- Does their agency support local causes in Lincoln?
If you’re trying to find a reputable agency, it helps to know the two types of agencies from which to choose. Insurance agencies are either exclusive or independent agents depending on their company appointments.
Exclusive Insurance Agencies
Exclusive agencies can only provide pricing for a single company and some examples include Farmers Insurance and State Farm. They are unable to shop your coverage around so you need to shop around if the rates are high. Exclusive insurance agents are very knowledgeable in insurance sales which can be an advantage.
Below is a list of exclusive agencies in Lincoln that are able to give price quote information.
Allstate Insurance: Rob Bryant
6211 O St B – Lincoln, NE 68510 – (402) 488-8997 – View Map
State Farm: Vinnie Krikac
935 Plum St – Lincoln, NE 68502 – (402) 474-1173 – View Map
State Farm: Genny Noerrlinger
6710 L St #110 – Lincoln, NE 68510 – (402) 488-7855 – View Map
Independent Insurance Agencies
Agents of this type are not employed by one company and that enables them to quote your coverage with lots of companies and help determine which has the cheapest rates. If you are not satisfied with one company, the business is moved internally and that require little work on your part. If you need cheaper insurance rates, you should always get quotes from at least one independent agent to have the most options to choose from.
Below is a short list of independent insurance agencies in Lincoln who can help you get price quote information.
INSPRO Insurance
4000 Pine Lake Rd – Lincoln, NE 68516 – (402) 483-4500 – View Map
Davidson Insurance Agency, Inc
5604 South 48th St #6 – Lincoln, NE 68516 – (800) 249-1443 – View Map
Mittelstadt Agency LLC
1701 K St – Lincoln, NE 68508 – (402) 434-3990 – View Map
Auto insurance company ratings
Choosing the best insurance provider can be difficult considering how many companies there are in Nebraska. The information displayed below may help you pick which car insurance providers to look at shopping your coverage with.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
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Data Source: Insure.com Best Car Insurance Companies
How to know if you need help
When it comes to buying a policy for your vehicles, there really isn’t a single plan that fits everyone. Everyone’s situation is unique and your policy should reflect that.
For example, these questions can help discover whether your personal situation may require specific advice.
- Are my friends covered when driving my car?
- Is coverage enough to protect my assets?
- Do I need rental car coverage?
- What is roadside assistance coverage?
- Am I getting all the discounts available?
- Do all my vehicles need collision coverage?
- Am I covered if I wreck a rental car?
- Does insurance cover damages from a DUI accident?
If you’re not sure about those questions, you might consider 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.
Be persistent to save money
While you’re price shopping online, make sure you don’t sacrifice coverage to reduce premiums. There have been many cases where someone dropped liability coverage limits and found out when filing a claim that they should have had better coverage. The aim is to find the BEST coverage at the best cost while not skimping on critical coverages.
We just presented many tips how you can get a better price on Honda Insight insurance in Lincoln. The key thing to remember is the more rate comparisons you have, the higher your chance of finding low cost Lincoln auto insurance quotes. You may even be surprised to find that the best prices are with some of the smallest insurance companies. Regional companies can often provide lower rates in certain areas than the large multi-state companies such as Progressive or GEICO.
To read more, take a look at the articles below:
- Prom Night Tips for Teen Drivers (State Farm)
- How Much are Auto Insurance Quotes for College Students in Lincoln? (FAQ)
- Who Has the Cheapest Car Insurance for Hybrid Vehicles in Lincoln? (FAQ)
- How Much are Car Insurance Quotes for 17 Year Olds in Lincoln? (FAQ)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- How to Avoid Common Accidents (State Farm)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)