How to Save on Austin Audi A3 Insurance

Scraping up a payment for overpriced Audi A3 insurance in Austin can diminish your accounts and make it tough to pay other bills. Performing a price comparison can help to make sure you’re not throwing money away.

It’s amazing but almost 70% of insureds kept their coverage with the same car insurance company for over three years, and just under half have never quoted car insurance rates at all. The average driver in Austin can save up to 70% each year by just shopping around, but most undervalue how much savings they would realize if they switch to a new company.

Because you have many options for buying lower-cost insurance for an Audi A3 in Austin, it can be diffult for drivers to locate a more affordable company.

Locating the most cost-effective auto insurance policy in Austin can be made easier if you know where to look. In essence, every driver who quotes auto insurance will probably be able to cut their insurance bill. Nevertheless, Texas vehicle owners need to learn how companies set your policy premium because it can help you find the best coverage.

Just keep in mind that comparing a large number of companies increases your odds of finding more affordable rates. Not every company provides online Austin A3 insurance quotes, so it’s recommended that you also compare price quotes on coverage from those companies, too.

The providers in the list below offer quotes in Austin, TX. If several companies are displayed, we suggest you visit several of them in order to get a fair rate comparison.

Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-vehicle, and multi-policy. Price information does not factor in the specific area where the vehicle is garaged which can decrease or increase coverage prices significantly.

Raise deductibles and save

When comparing auto insurance rates, the most common question is how high should your deductibles be. The rates below highlight the difference in cost when you choose different deductibles. The first data set uses a $250 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Rate quotes do not factor in specific Austin garaging location which can raise or lower prices substantially.

Based on this data, using a $250 deductible will cost you roughly $15 more each month or $180 for a full year than requesting the higher $500 deductible. Since you would have to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you tend to go at least 17 months between claim filings, you would save more money if you choose a higher deductible.

Price comparison of only insuring for liability

The chart below illustrates the difference between Audi A3 yearly insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume no driving violations, no at-fault accidents, $250 deductibles, married male driver, and no policy discounts are applied.

When to stop paying for full coverage

There is no definitive rule of when to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is about 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s assume your Audi A3 settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $7,000 after paying your deductible. If you are currently paying more than $700 a year for your policy with full coverage, then it might be time to consider dropping full coverage.

There are some scenarios where buying only liability insurance is not recommended. If you still have a loan on your vehicle, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not opt for liability only.

Why you need insurance for your Audi vehicle

Even though Austin A3 insurance rates can get expensive, insurance serves an important purpose.

First, the majority of states have compulsory liability insurance requirements which means state laws require specific limits of liability protection in order to be legal. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you bought your A3 with a loan, most banks will require that you carry insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the bank may insure your Audi at a more expensive rate and force you to pay for it.

Third, insurance protects both your car and your personal assets. It will also reimburse you for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability coverage also covers legal expenses if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, your policy will cover the repair costs.

The benefits of having insurance are without a doubt worth the cost, particularly when you have a large claim. The average driver in Texas is overpaying more than $750 every year so it’s very important to do a rate comparison every year to ensure rates are inline.

Discounts can help lower rates on Audi A3 insurance in Austin

Auto insurance companies do not list every available discount in a way that’s easy to find, so the list below gives a summary of a few of the more common and also the more inconspicuous discounts that may be available.

• Employee of Federal Government – Being employed by or retired from a federal job could provide a small rate reduction with some car insurance companies.
• Low Mileage Discounts – Driving fewer miles can qualify you for slightly better premium rates than normal.
• Clubs and Organizations – Being a member of certain professional organizations is a good way to get lower rates on car insurance.
• Driver’s Ed – Cut your cost by having your teen driver enroll and complete driver’s education in school or through a local driver safety program.
• Seat Belts Save more than Lives – Buckling up and requiring all passengers to use their safety belts can save up to 10 percent (depending on the company) on medical payment and PIP coverage.
• College Student Discount – College-age children who attend college more than 100 miles from Austin and do not have a car could qualify for this discount.
• Anti-lock Brakes – Cars and trucks with ABS braking systems or traction control can avoid accidents so companies give up to a 10% discount.

Discounts lower rates, but many deductions do not apply to the entire policy premium. Most cut specific coverage prices like physical damage coverage or medical payments. Despite the appearance that you can get free auto insurance, companies don’t profit that way.

To view car insurance companies that offer multiple discounts in Texas, follow this link.

Buying from car insurance agents

Certain consumers still like to buy from a local agent and we recommend doing that An additional benefit of price shopping on the web is the fact that drivers can get cheaper rates and also buy local.

Upon completion of this simple form, your insurance coverage information is submitted to local insurance agents in Austin who will give competitive quotes and help you find cheaper coverage. You don’t have to contact any agents since rate quotes are delivered to you instantly. You can most likely find cheaper rates without the usual hassles of price shopping. If you want to compare rates from a specific insurance company, you just need to find their quoting web page and fill out the quote form the provide.

Finding the right insurance company is decision based upon more than just a cheap price quote. You should also get answers to these questions.

• Is there a 24/7 contact number?
• Is vehicle damage repaired with OEM or aftermarket parts?
• Where are claims handled?
• Does the company allow you to choose your own collision repair facility?
• Will they give you a referral list?
• Do they get paid more for recommending certain coverages?
• Do the coverages you’re quoting properly cover your vehicle?
• What insurance company do they write the most business with?

If you need to find local Austin agents, you must know there are a couple different types of agents and how they differ in how they can insure your vehicles. Agents are either exclusive or independent agents depending on their company appointments.

Exclusive Agencies

Exclusive insurance agents have only one company to place business with and some examples include Allstate, State Farm and Farmers Insurance. These agents are unable to provide other company’s prices so they really need to provide good service. Exclusive insurance agents are usually quite knowledgeable on what they offer and that allows them to sell at a higher price point.

Shown below are Austin exclusive insurance agents who may provide you with price quote information.

More insurance agents

Independent Agents (or Brokers)

Independent agencies can quote rates with many companies so as a result can place your coverage through many different insurance companies and find you the best rates. If they quote lower rates, they simply switch companies in-house and you won’t have to switch agencies.

If you are comparing rate quotes, you need to get insurance quotes from independent agents to ensure the widest selection of prices.

Below are independent agencies in Austin who can help you get comparison quotes.

More insurance agents

If you receive satisfactory answers to any questions you may have and a low price estimate, you have narrowed it down to an insurance agent that meets the requirements to service your policy. Just keep in mind it’s your policy and you can cancel your policy whenever you choose to so don’t feel you are locked into your new company for the full policy term.

Coverages available on your insurance policy

Learning about specific coverages of a insurance policy can help you determine the best coverages and the correct deductibles and limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages available from insurance companies.

Auto liability insurance

Liability coverage protects you from damage that occurs to other people or property. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 30/60/25 that means you have a $30,000 limit per person for injuries, $60,000 for the entire accident, and property damage coverage for $25,000.

Liability coverage pays for things such as medical services, repair bills for other people’s vehicles, pain and suffering and attorney fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible. Texas requires drivers to carry at least 30/60/25 but it’s recommended drivers buy more liability than the minimum.

Comprehensive insurance

This pays for damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things such as hitting a bird, fire damage and theft. The most you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Coverage for collisions

Collision insurance pays to fix your vehicle from damage from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against things such as crashing into a building, rolling your car, colliding with another moving vehicle and hitting a parking meter. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Another option is to choose a higher deductible on your A3 to get cheaper collision coverage.

Coverage for uninsured or underinsured drivers

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries to you and your family as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits (30/60/25 in Texas), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.

Coverage for medical expenses

Medical payments and Personal Injury Protection insurance pay for immediate expenses such as pain medications, funeral costs, rehabilitation expenses, doctor visits and nursing services. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states and may carry a deductible

Compare. Compare. Compare.

You just read a lot of information how to lower your Audi A3 insurance premium rates in Austin. The key thing to remember is the more you quote Austin car insurance, the better your chances of lowering your prices. Consumers may even find the most savings is with the least-expected company. These smaller insurers can often insure niche markets at a lower cost compared to the large companies like GEICO and State Farm.

As you prepare to switch companies, you should never skimp on coverage in order to save money. In too many instances, an insured cut physical damage coverage only to regret at claim time they didn’t have enough coverage. Your strategy should be to buy enough coverage at the best possible price, but do not skimp to save money.

Much more information about insurance in Texas can be found at these links:

• Can I Drive Legally without Insurance? (Insurance Information Institute)
• Who Has Affordable Austin Auto Insurance for Drivers with Good Credit? (FAQ)
• Who Has Affordable Austin Car Insurance Quotes for High Risk Drivers? (FAQ)
• How Much are Austin Auto Insurance Rates for Real Estate Agents? (FAQ)
• Uninsured Motorists: Threats on the Road (Insurance Information Institute)
• Should I Buy a New or Used Car? (Allstate)
• Get the Right Protection (InsureUonline.org)
• Smart Auto Insurance Tips (Insurance Information Institute)