Auto Insurance Coverage with Beacon Point
A lot of people don't understand the importance of having good auto insurance coverage. This helps you pay for vehicle damages or bodily injuries in the event of an accident. If you know anything about the cost of medical care, you can quickly see how some low limits like 25,000, 50,000, or even 100,000 per person limits might not be enough.
Everyone deserves the benefits of having vehicle insurance. Plus, being uninsured can get you in legal trouble. Driving without coverage can result in hefty fines in most states and the loss of your driver's license.
Auto insurance coverage can be expensive if you don't do your research. Beacon Point is here to help. We do all of the difficult searching for you. Just let us know a little bit about you and your goals and we'll help you get started. Request a coverage review online with us today so you can find the auto insurance coverage policy that works for you and your lifestyle.
Who is Beacon Point?
Beacon Point is a firm made up of independent auto insurance agents. Our team members aren't loyal to a single auto insurance company; we scour the market in search of the perfect auto insurance plan that fits your needs.
While we do seek out the best deal for you and your family, we don't just try to enroll you in the plan with the cheapest auto insurance quote. Many of these cookie-cutter plans don't fit every person or family's unique needs.
When we work with you, we get to know you. This helps us find a plan that fits your requirements.
Don't settle for a captive insurance agent in Missouri or Kansas who works for a single company. These agents will try to sell you a company's specific plan, even if it's not what's best for you.
Beacon Point is the solution to auto insurance companies who have an ulterior motive: to sell cheap and incomplete policies quickly. Our only focus is finding you the perfectly-priced plan with the best coverages that meets your requirements!
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Bought a New Car? Beacon Point Can Help Insure It
Purchasing a new car can be exciting. Though getting this new vehicle insured can take away from some of that excitement, it's important nonetheless. If you're the owner of a new car, you will need auto insurance coverage.
Can I Drive Off the Lot Without Insurance?
In the United States, it's illegal to drive a vehicle on a public road without auto insurance. There are no exceptions in place for those that just bought a new car. You'll need insurance coverage right when you purchase a new vehicle.
You can secure this coverage in several ways:
- At the dealership. If you make an unplanned purchase, many dealerships can offer you a temporary auto insurance policy. These plans typically offer 1 to 28 days of coverage, though some can be extended beyond that. Securing a temporary plan with the car dealership can be a hassle, as you'll need to eventually find a long-term solution.
- A national brand insurance agency. One of these insurance agents usually has an agenda. They try to sell you plans from one insurance provider. While this will benefit these insurers financially, you likely won't receive the best coverage that's optimized for you and your family.
- An independent agency. An independent insurance company like Beacon Point doesn't work for any single insurance provider. We can even help you secure a bundled policy and get access to auto insurance, life insurance, and other coverage in one neat package.
These last two options require you speak to the agency ahead of time. It's ideal to secure this coverage several days before you make the big purchase. This way, you'll have one less thing to worry about once you're at the dealership trying to secure a good deal.
For unbiased and helpful assistance in finding the perfect auto insurance plan, request a coverage review online with Beacon Point today.
What If I Don't Use My Car?
When you think of auto insurance coverage, you likely associate it coverage with car accidents and on-road incidents. If your car is stored away, it isn't immune to certain risk factors like:
- Falling trees.
- Floods or storm damage.
- Fire damage.
Customers store their cars away because they don't currently need it, are fixing it up, or are planning on selling their vehicle
Beacon Point helps you secure an auto insurance policy that works for your unused car. Do you plan on using it again soon? Or, will it be in storage for a while? No matter your situation, our coverage review will help you find the perfect auto insurance plan.
Do I Need Insurance Coverage If My Car Doesn't Run?
If your vehicle is registered in your state and the registration hasn't lapsed, then you need to maintain at least liability insurance, which is the minimum legal level of insurance coverage. There are no exceptions in place for cars that don't run.
Though auto insurance coverage may seem like a catch-all plan, there are multiple components of this type of coverage. We help you understand these different options and if you could benefit from them:
- Liability coverage, which includes both bodily injury and property damage liability.
- Uninsured and underinsured motorist coverage.
- Comprehensive coverage, which is especially important for those with long-term parked cars.
- Collision coverage.
- Medical payments coverage.
- Personal injury protection.
Beacon Point helps you figure out which of these components to purchase as part of your plan. Request a coverage review online with us and you'll learn which components you should consider investing in.
How Do I Renew Auto Insurance?
If you're happy with your auto insurance plan, you'll likely want to renew it. Depending on the provider, your plan will usually renew itself every 6 or 12 months.
About 30 to 45 days before your renewal, you'll receive a statement via mail or email that explains any changes that are being implemented. From there, you can allow the plan to automatically renew or begin searching for a new one.
What Happens If I Want To Switch My Auto Insurance Plan?
It may be smart to get a new auto insurance plan, especially if your current one doesn't meet your requirements. Some drivers are hesitant to switch plans, as doing so may incur some fees.
What May Happen If You Switch
If you switch to a new plan, you'll need to cancel your old one with your provider. You should be able to cancel at any time. However, depending on your insurance provider, you may be charged a fee. These fees can range from as low as $25 to a predetermined percentage of your premium. Sometimes, there is no cancellation fee in place.
When you get a new policy with the help of Beacon Point, we help you find one with a forgiving cancellation policy in case your auto insurance needs to change.
Should I Avoid Switching?
Switching auto insurance policies or providers isn't a bad thing. Switching companies doesn't have any effect on an open insurance claim you may have.
It's advisable to avoid switching if you've recently gotten into an accident. You should stick with a current insurance policy and pay your pre-accident rate for as long as possible. As soon as you switch policies, your rate will be recalculated and you'll likely be required to pay a higher rate.
Be careful of switching too much, many of our vehicle insurance companies are starting to give larger discounts to new customers who have been with their previous insurer for five years or longer.
How Can I Get Better Insurance?
While you can switch your insurance at any time, here are some optimal times to look into options with other businesses:
- When you add or remove a driver. You can maximize your savings by switching when you add or remove a driver on your policy. This is especially effective when the driver is a teenager or young adult.
- When you move. If you're moving to a new city or state, consider looking into different providers, as there may be local businesses with deals.
- Before your current policy renews. Don't let your insurance operate in the background. Be aware of when your policy renews. Ideally, you should start looking at different options around 1 month before your current policy is set to renew. This way, you'll receive your current policy and you'll have a new comparison point to work with.
- Before you buy a new vehicle. If you're planning to buy a new car, don't go in without insurance. Getting temporary insurance from the dealership is a hassle, and you won't be allowed to drive off with it. Take this time of change to switch to a better deal on your insurance.
Now that you're aware of when to optimally switch auto insurance policies, you may be wondering how to exactly go about finding a better deal. We recommend:
- Collecting different quotes. Beacon Point offers several quotes from different providers in Washington. This way, you can figure out what deal is best for you.
- Evaluating your current circumstance. Has the value of your vehicle dropped significantly? Does your newer vehicle have a telematic device that tracks speed and instances of harsh braking? You may be entitled to discounts that you previously didn't qualify for.
- Do some research. Don't settle for paying more than your neighbors! Look up the average rate that drivers pay in your ZIP code. Beacon Point can help you understand what a competitive rate in your location is.
There is no step-by-step system for getting the best auto insurance plan. Beacon Point works with each customer individually to secure the perfect plan for them.
How Do Premiums Work?
An insurance premium is a payment that you make for an insurance policy. The premium serves as income for the insurance company. It also serves as a liability because the provider must offer coverage for any claims made against the policy. Failure to pay the premium can result in the cancellation of your plan.
How Do I Pay Insurance Premiums?
Some companies let you make monthly or semi-annual payments. Others may require you to make a complete payment upfront before coverage begins.
How Are Insurance Premiums Calculated?
Insurance companies use statistics and mathematical calculations to create clients' premiums. When determining your premium, businesses take the following factors into account:
- The ZIP code you live in
- The type of coverage you have
- Claims filed in the past
- Credit history
- Value of your vehicle
Businesses determine insurance premiums by how much risk the driver carries. A middle-aged woman with a clean driving record is less likely to get into an accident than a new teen driver. The teen driver will have a much higher premium.
How Can I Save On My Auto Insurance Premiums?
Some factors, like your age and claims that have been filed against you in the past, are out of your control. However, Beacon Point can help you optimize your savings. To let you save on your auto insurance premiums, Beacon Point will help you:
- Increase your deductible.
- Bundle insurance coverage policies together (auto insurance, life insurance, etc).
- Compare premiums from different providers.
- Take advantage of company-specific discounts.
Different Payment Plans
There are different payment plans available when it comes to your insurance coverage. With Beacon Point, we can help you find the one that works for you and your budget. We want to have a plan that is affordable but also convenient for your lifestyle.
Although we can help you determine which option is best for you, there are some general questions you should ask about payment plans. Here are the most common:
Is It Better To Pay Insurance In Full?
Paying your insurance coverage in full might seem like an expensive financial decision. However, many people take advantage of this decision. This option has its pros and cons that you should consider as they apply to you. It is important to determine how this decision would affect your financial situation.
For one, making one yearly payment means you don’t have to pay as much in installment fees. This will save you hundreds of dollars over a policy period.
Some make the argument that it’s better to pay in installments. They claim that it’s better to have your money on hand. While it won’t accrue that much interest in your savings, it’s good to have it in case of a financial emergency.
You shouldn’t pay in full if doing so would wipe out your entire savings. There are other ways to get discounts, such as agreeing to electronic funds transfer (EFT). Those who sign up for this payment method can generate significant savings on their monthly payments.
A few companies even offer both discounts if you do both, maximize your discounts by putting your policy on EFT paid in full!
Does Paying Auto Insurance Monthly Build Credit?
Contrary to popular belief, paying your auto insurance monthly does not build your credit. It’s worth noting that if you are late in your payments, your credit score won’t go down.
Your credit score and insurance payments are completely unrelated. Your credit report only consists of the information reported to credit bureaus. Because insurance companies don’t report your payments, they don't affect your overall score.
If you are looking to build credit through monthly payments, there’s a workaround. You can charge your insurance to your credit card every month. Just be sure to pay it off in full.
Can You Pay Off Monthly Auto Insurance Early?
Most providers allow you to pay off your premiums early. This can be beneficial as it will help you avoid extra installment fees.
Knowing what your provider permits when it comes to early payments is important. With Beacon Point, you can review providers' policies and see if they offer discounts for early payments.
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How Do I Get the Lowest Rates Possible?
No one wants to pay more than they have to for auto insurance. Understand why your current rate is so high and learn about how to get a better deal below.
You’re Not Alone
You aren’t the only driver on the road wondering why your insurance rate is so high. There are factors outside of your control that are causing auto insurance rates to skyrocket. The following factors are culprits of expensive auto insurance policies:
- More drivers on the road: Americans are choosing to drive more because of low gas prices and a strong economy. More drivers on the road increase the chances of auto-related accidents.
- More expensive repairs: Modern cars are made with advanced technology and gadgets, which makes them pricey to repair in the event of damages. A car bumper in the early 2000 cost around $200 but with all the sensors and electronics built in today a bumper could be $2500 or more
- Rising medical costs: Auto insurance businesses need to raise their rates to help victims cover rising medical costs. You may have felt or if not at least seen the complains from the cost of health care, your auto insurance also pays for medical costs when someone gets injured in an accident. Car insurance is not immune from medical costs.
What Are Some Other Reasons My Auto Insurance Coverage Is So Expensive?
Consider the following factors that can make your auto insurance coverage more expensive:
Drivers under the age of 25 usually have higher rates because of their inexperience on the road. Drivers over the age of 65 also are higher-than-average because of their decreased motor functions and diminishing cognitive abilities.
Your Claims History
If you’ve filed a lot of claims in the past, your rate may be higher. To help avoid filing too many claims, try to pay for any minor damages that your car may sustain out-of-pocket. Best suggestion is to increase your deductible to $1000 or more if you can to save the most.
While you can never be too cautious, some drivers’ rates are higher than others because they have more than the minimum level of coverage. Missouri and all other states, excluding New Hampshire, require drivers to buy at least 3 types of coverage. These are:
- Individual bodily injury liability
- Total bodily injury liability
- Property damage liability
If you decide to get more than the minimum coverage, you’ll pay more for your insurance plan each month. But also consider buying higher limits is like buying at Costco or Sam’s Club, the more you buy the cheaper it gets. Many times you can upgrade to the next level of coverage for just a few bucks per month.
To be honest, if you only buy the minimum you are getting screwed because the insurance companies charge the most for the least amount of coverage.
Can You Negotiate Auto Insurance Coverage?
The state regulates auto insurance rates, meaning you technically can’t negotiate for a better auto insurance quote.
However, you can shop around. With Beacon Point’s comparison tool, you have the power to find the provider that’s right for you and your budget.
How Do I Get The Lowest Auto Insurance Rates?
Aside from comparing providers, you can take steps to lower rates. For instance, there are discounts for taking defensive driving courses or being accident-free for a certain number of years.
You can even work with a company that provides driving information so you can prove to the company you drive less and are a safe driver, the average discount for the telematics program is 17% but we have some companies offering up to 50% for safe drivers.
How Much Should I Be Paying For Auto Insurance?
As previously mentioned, auto insurance quotes vary depending on a variety of factors. In the state of Missouri or Kansas, the average is around $750 per year when you insure more than one vehicle.
Again, this is just an estimate. It’s always a good idea to compare providers. The costs are usually catered to your unique circumstances, meaning you know you are getting a fair quote.
What Are Some of the Industry's Best Deals?
Beacon Point is a comprehensive auto insurance comparison tool. Drivers will benefit from different plans depending on their:
- Demographic factors.
- Driving habits.
- Driving records.
- Preferred deductibles, coverages, and limits.
We help drivers of various backgrounds and personal preferences find the auto insurance plan with a business that's right for them.
A plan that works for one driver may not work for another. The same company that works for one family may not work for your neighbor or other family member. Though a lot of drivers will benefit from specialized plans, here are some of the best and cheapest auto insurance businesses in general:
- Bristol West
- State Auto
By no means are these overarching recommendations. This list is just a general idea of some cheap providers on the market. Beacon Point evaluates your options and helps you make a final decision that you can feel confident in.
Who Has The Cheapest Auto Insurance?
With all of the different insurers out there, shopping for auto insurance can be confusing. It's understandable to expect an answer to the common question, “Which provider has the cheapest auto insurance?”
Unfortunately, there is no straight-forward answer. It all depends on your age, driving record, past infractions, and the ZIP code you live in. The rate of your plan will also vary depending on what components you go with. If you opt for bodily injury and property damage liability coverage, uninsured motorist coverage, and other add-ons, you can expect your rate to be higher.
You might also notice that you don’t see much advertising from the companies listed above, most of these companies only work with independent agents to provide vehicle insurance at a lower cost to you instead of spending billions of dollars for advertising.
Better insurance at a lower cost, it’s a win -win
Is Geico Really Cheaper?
We’ve all seen the beloved Geico commercials of the Gecko telling us how to save money on our auto insurance. As the second-largest auto insurer in the U.S., we’re left to wonder if Geico is really cheaper than other insurers.
According to NerdWallet, Geico is the cheapest provider on average for drivers with poor credit.
However, since most people looking for vehicle insurance are not aware of all the coverages on their policy, they don’t realize they are buying a policy with less coverage when shopping online themselves. Your not saving any money if you just buy less.
Beacon Point helps you see past the preconceptions you have about insurance providers. We offer an unbiased coverage review that helps you make a financially-responsible decision regarding your auto insurance policy. We can help make sure you don’t purchase a lesser policy by accident.
A few considerations when searching for a car insurance agent
- How many companies do they have access to provide offers from? If they can only offer one company, this means they are captive to that one auto insurance company. This also means they are just a salesperson, not an advisor for you. Many times this is where people think they are saving money on auto insurance, but end up just buying less coverage.
- Are they required to provide a specific car insurance companies offer first. Some auto insurance companies require their agents to offer their product first even if it is not right for you.
- Is the agent trying to get to know you so they can match your needs with the coverages you are searching for
- Be aware of agents who simply want to give you the cheapest car insurance price.
- If the new car insurance is less expensive, ask them what is missing! In our experience, most people end up just buying less because something was either missing that you already had or the insurance agent cut coverage
Contact Beacon Point Today!
We can't stress the importance of having auto insurance enough. Don't miss out on the benefits of Beacon Point! As independent agents, we allow you to compare auto insurance companies and narrow down your options.
Reach out to your team today and request a coverage review online to get started! No matter your vehicle type, past driving infractions, preferred deductible, or limits, we help you find the plan that's right for you.
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