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by Indiana Farm Bureau Insurance

Top 5 things to consider when buying car insurance

Young man getting out of his car smiling

Buying car insurance may feel like a hassle and for some can even be a stressful experience. Whether you’re looking to save money on your premium, secure additional protection, or would like insurance that offers a premier experience and claims service, there are a few things you need to know.   


When you buy an auto insurance policy, there are important aspects to keep in mind. One of the most important things to remember is that you don’t have to go on this journey alone. An insurance agent is a trained professional that specializes in all things insurance. They will help you find you the best protection options and available discounts in order to help you customize a policy that fits your needs.  



The most important things you need to know before buying car insurance 


I know some may think, “Why do I need auto insurance?”  In Indiana, and many other states, it’s the law.  


Your insurance premium may vary over time, so it's important to stay up to date with what you can do to enjoy the best discounts. Your local agent can help you save by researching which discounts you may qualify for and help you to be sure your policy provides the  protection you need.  


In this post, we'll cover the most important things you need to know before buying car insurance. This includes why you need auto insurance and affordable car buying tips


So, how much coverage do you need? 


There are two main types of vehicle insurance coverage: liability and collision. Liability insurance can cover damage that you may cause to other people and their property in the event of an accident. Collision insurance can help cover damage done to your own car in an accident. 


The next thing that you need to know is when the best time is to buy car insurance. The best time to buy a policy is eight or more days before your current policy expires to take advantage of the Advance Quote Discount.  


The last thing you should know before buying car insurance is how often you want to pay your premium throughout the year. There are different payment plans that you can choose depending on when you want to pay your premium and how you want to split the cost throughout the year.  


Indiana Farm Bureau Insurances offers a Full Payment Discount, which is a 5% discount on your auto insurance for paying in full prior to the policy term. * 

5 tips for buying auto insurance 


Buying auto insurance does not have to be a complicated experience. When you team up with an Indiana Farm Bureau Insurance agent to discuss your coverage options, they can help you with coverage questions and explore potential discounts.  


Are you looking for more information on how the quoting process works? Here’s a simplified version of the insurance quote process.  


There are many different types of coverage and factors that need to be considered when purchasing your auto insurance policy. To help you make the best decision, we have compiled a list of five tips for buying auto insurance. 


  1. Your driving record and history  ̶  Your driving record and history can sometimes affect the price of your auto insurance premium. This is due to the risks associated with drivers who have been in multiple traffic accidents or incurred violations. One of the best ways to lower that risk is by obeying all traffic laws and posted speed limits. This decreases the likelihood of you having an accident or receiving a speeding ticket but is also an example of safe driving.  


  1. Value of your vehicle  ̶  The more valuable the car your drive, the more you will pay for your auto insurance. Think about it this way, if you have an expensive car that gets into a wreck, the cost of repairing or replacing that car will be higher because the parts needed for repair are more expensive.  


  1. Your credit score  ̶  Insurance companies use a mathematical model   that determines an insurance score; your credit score (FICO Score) is only one part of that model one part that calculation. An insurance score is calculated because an insurance company is not measuring your creditworthiness but the likelihood of you filing a claim. Your credit score is included in the model since studies have shown that a person’s credit rating is a good predictor of filing future claims. Using such models allows your insurance company to better align the cost of insurance based on your likelihood of filing a claim. 


  1. Coverage and policy limits  ̶  There are several types of coverage options for your auto policy. The type of coverage you choose depends on what you would like to cover and the policy limits. If you have a new driver in the family, you may opt for more coverage because you want to ensure if anything happens that you will be adequately protected. Your policy limits how much you pay for auto insurance.  

  2. Car insurance discounts  ̶  Indiana Farm Bureau Insurance offers many discounts that can help you save on your car insurance. Speak with your agent about what discounts you may qualify for or look online for more information. Indiana Farm Bureau Insurance offers the Multi-Line Discount where policyholders can save up to 23% when you bundle certain insurance policies. 


Bonus tips:  


When it comes to auto insurance there are additional things to consider when  designing a policy that fits your needs.   


  • Age and driving experience  ̶  Age and the longevity of driving experience can impact the amount of coverage you want to purchase. If you are only purchasing a policy for yourself, and you have been driving for more than 20 years, you may not see a need to purchase additional protection. But if you have family members on your policy that are new drivers or only have five or fewer years under their belt, you may want to consider purchasing additional protection.  


  • Your ZIP code and location  ̶  The average price of auto insurance can fluctuate depending on the state you reside in. Florida is known for high insurance rates because most of their highways have a higher speed limit than those in the Midwest.   


  • The deductible  ̶  A deductible is the out-of-pocket cost to you in the event you have a claim. If you choose a higher deductible this may mean that you believe you are not a high risk and the chances of you filing a large claim are low. Most of the time a higher deductible results in a lower premium cost.  


  • Whether or not you have a teen driver in the household  ̶  Having a teen driver on your auto insurance policy can increase risk. Teen drivers are new on the road and more inexperienced than a mature driver. But, did you know that there are ways to lower can insurance premiums for young drivers? This guide can help you save and give your teen driver more confidence on the road.  

Ways to save money on car insurance costs 


There are many ways you can save on your car insurance costs. A handful of ways are things you can do as a driver; these include practicing safe and undistracted driving, driving the speed limit to avoid getting a speeding ticket and purchasing a car that won’t significantly increase the price of your insurance due to its value.  


Another way you can save on car insurance is by opting into the many discounts Indiana Farm Bureau Insurance has to offer. These discounts include:  


Selecting the right kind of insurance coverage takes some thought and research. Keep in mind your  needs while looking for auto insurance. Find a local insurance agent to start the conversation or request a free online quote today!  



*This discount does not apply to mortgagee billed policies and will not reduce the farm policy premium below the minimum premium.