What rating does Esurance insurance have?

You should switch your car insurance to a different company when you can find a cheaper rate for the same amount of coverage without sacrificing in terms of things like customer service. It’s actually best to compare quotes and consider switching insurance companies every 6-12 months in order to minimize costs. It’s also worth checking prices anytime you have a change in circumstance that will affect your rate, such as insuring a new car or adding a new driver.... read full answer

When to Consider Switching Car Insurance Companies

When You Add a New Driver

Adding a teenager to your insurance policy costs 140% to 160% extra, on average. On the other hand, adding an experienced driver could increase or decrease your premium, depending on the exact scenario. As a result, it’s well worth shopping around before simply accepting a new rate from your current insurer.

When You Reach a Threshold for Age or Experience

Car insurance rates vary dramatically by age, with particularly sharp drops when a driver turns 19 and 21 years old. Similarly, when a driver has been on the road for at least five years, they will usually be able to get a lower rate.

When You Add or Replace a Car

The cheapest insurer for an older car might not be the cheapest for a brand new car or a specialty vehicle, since each insurer calculates rates differently. If you’re adding a vehicle, you should also factor in any multi-car discounts that are available from different companies.

When Your Driving Record Changes

If you were recently cited for a moving violation, each insurer will adjust your rates by a different amount, so switching could make sense. Similarly, some insurance companies will look back at only three years of your driving history, while others will evaluate a longer period. As a result, it’s a good time to shop around for a better price when violations or claims reach the three-year milestone. Getting a copy of your driving record and your CLUE Report can help you time things right.

When Your Credit Score Improves

Your credit score can be a major factor in car-insurance pricing. If it has improved, let your current insurer know and then see if other companies can beat your insurance company’s price.

When Your Insurance Needs Change

Financing a new car or paying off a loan may change the coverage types you need to carry. You may also want to reevaluate your policy limits and deductible.

When Your Marital Status Changes

Married drivers usually pay less for car insurance than single drivers, so make sure to notify your insurance provider about your nuptials. You should also take the opportunity to see if another insurer will offer a lower premium.

When You Become a Homeowner

Your status as a homeowner rather than a renter can affect your premiums. Insurers often charge lower premiums to homeowners, and you can also get a multi-policy discount if you insure your home and car with the same company.

When Your Education Level or Employment Changes

Earning a college degree will lower your rates with some insurers more than others. Some companies also offer a low-mileage discount, which could benefit you if you get a new job with a shorter commute.

The most popular car insurance companies are State Farm, Geico and Progressive, which service more than 120 million policies and have a combined market share of 43.1%. These companies are available in all 50 states and the District of Columbia.

Most Popular Car Insurance Companies

1. State Farm
2. Geico
3. Progressive
4. Allstate
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5. USAA
6. Liberty Mutual
7. Farmers
8. Nationwide
9. American Family
10. Travelers

Together, these insurance providers were responsible for auto policies totaling nearly $185 billion in premiums during 2019, according to the Insurance Information Institute. They have been among the most used car insurance companies for at least the past five years.

You can lower your Esurance car insurance costs by taking advantage of Esurance discounts, opting for a higher deductible, and reducing your coverage, among other things. Esurance considers a variety of factors when calculating your premium, though some – like your age and location – are out of your control. Fortunately, you can take steps to influence other factors in order to lower your rate.... read full answer

How to Lower the Cost of Car Insurance from Esurance

Use Esurance’s auto insurance discounts

Esurance offers a wide variety of discounts that can help you lower your overall car insurance bill. For example, drivers can get a discount equal to 30% of their renters insurance premium if they purchase renters insurance in addition to their auto policy.

Raise your car insurance deductible

Opting for a higher deductible on any of your insurance policies from Esurance can lower your premium. But if you decide to go this route, it’s important that you choose a deductible amount that you can still afford if you suddenly need to file a claim. Otherwise, you might not be able to use the coverage that you have.

Reduce your car insurance coverage

Most states require a certain amount of bodily injury liability and property damage liability coverage. But there are other coverage options (like comprehensive, collision, personal injury protection, and uninsured motorist) that you may not have to purchase, depending on your state. Less coverage usually means lower premiums, but it could also lead to higher costs in the long run, so it’s important to approach coverage decisions with caution.

Improve your driving record

Practicing safe driving habits and avoiding moving violations can help you qualify for lower Esurance insurance rates long-term. You may also be able to attend traffic school in order to remove a violation or points from your record, depending on your state.

Build and improve your credit

Because your credit history is correlated with your likelihood of filing an insurance claim, Esurance uses your credit data to calculate your premium in states where it is legal. As a result, having good credit makes you less of an insurance risk, which will reduce your rates over time.

Drive less

Whether you can shorten your commute to work, use more public transportation, or even ride a bicycle more, driving fewer miles each year could lower your Esurance premium.

Drive an insurance-friendly car

Expensive cars, sports cars, and cars with high rates of theft are considered to be riskier to insure than cheaper, more practical vehicles. Before you buy a new car, get a new quote from Esurance to see how it will affect your rate. If the cost is out of your budget, then you should probably choose a different car.

Sign up for DriveSense

DriveSense, the Esurance telematics program rewards you for good driving with a discounted premium. Specifically, DriveSense tracks miles driven, speed, the time of day that you drive, and braking. By using DriveSense, drivers can save 5% initially on their rate.

Finally, if you’re still struggling to afford your Esurance policy, you should consider switching insurers. Even if you’re not actively looking for a new policy, it’s generally a good idea to compare quotes from three different companies every 6-12 months. To learn more, check out WalletHub’s guide to switching car insurance companies.