No car owner likes buying insurance, especially when they are aware that they could lower their rates if they shopped around.
Because there are so many insurance companies to choose from, it’s nearly impossible to pick a lower cost insurance company.
When buying insurance it’s important to understand the different types of things that help calculate the level of your policy premiums. When you know what positively or negatively impacts premium levels, this enables informed choices that could help you find big savings.
Listed below are some of the things that factor into your prices.
Car insurance companies don’t always advertise every available discount very well, so here is a list both the well known as well as the least known discounts that you can inquire about if you buy insurance coverage online. If you aren’t receiving every discount you qualify for, you are throwing money away.
We need to note that most discounts do not apply to the overall cost of the policy. A few only apply to the cost of specific coverages such as liability and collision coverage. Despite the fact that it seems like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business. But all discounts will cut your overall bill.
Some companies that have these discounts include:
Check with every prospective company to give you their best rates. Some of the discounts discussed earlier may not be available in every state. To locate car insurance companies that offer discounts, click this link.
Big name companies like Progressive, Allstate and Geico endlessly run television and radio advertisements. They all seem to seem to make the promise that people will save after switching your auto insurance policy to them. How does every company sell you cheaper insurance coverage? It’s all in the wording.
All companies quote the lowest rates for the type of driver that makes them money. For example, a desirable risk could be between 25 and 40, has a clean driving record, and drives newer vehicles. Any person that hits that “sweet spot” is entitled to the best price and is almost guaranteed to pay quite a bit less when switching companies.
Drivers who fall outside these stringent criteria may receive higher rates with the end result being the customer buying from a different company. The ads say “customers that switch” not “everyone that quotes” save that much money. This is how companies can truthfully make claims that they all have the best premium rates.
Because each company has a different risk profile, you should compare as many free insurance coverage quotes as you can. It’s just not possible to know the company that will give you the biggest savings.
When it comes to choosing the right insurance coverage for your personal vehicles, there really is not a one size fits all plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that For example, these questions can aid in determining if your insurance needs might need professional guidance.
If you’re not sure about those questions but a few of them apply, you may need to chat with an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance coverage companies in your area.
Learning about specific coverages of your policy aids in choosing the best coverages at the best deductibles and correct limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Below you’ll find the normal coverages available from auto insurance companies.
Medical expense coverage – Med pay and PIP coverage kick in for immediate expenses for surgery, ambulance fees, X-ray expenses, hospital visits and doctor visits. They can be used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Uninsured or underinsured coverage – This protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants and also any damage incurred to your Cadillac Allante.
Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Usually your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Comprehensive protection – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things like rock chips in glass, a tree branch falling on your vehicle, vandalism and hitting a bird. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Coverage for liability – Liability insurance can cover injuries or damage you cause to a person or their property in an accident. It protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.
Liability can pay for claims like repair costs for stationary objects, emergency aid and medical services. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.
Collision coverage – This will pay to fix damage to your Allante resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for claims like colliding with another moving vehicle, backing into a parked car, crashing into a building, sideswiping another vehicle and driving through your garage door. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to increase the deductible to bring the cost down.
Throughout this article, we presented many tips how you can lower your 1991 Cadillac Allante insurance prices. The most important thing to understand is the more price quotes you have, the better chance you’ll have of finding inexpensive insurance coverage. You may be surprised to find that the lowest priced car insurance comes from an unexpected company. Some small companies may cover specific market segments cheaper compared to the large companies like Allstate or State Farm.
As you shop your coverage around, it’s a bad idea to skimp on critical coverages to save a buck or two. In many cases, someone sacrificed full coverage and found out when filing a claim that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy the best coverage you can find for the lowest price, but do not skimp to save money.
More information can be read at the links below