Having to pay for pricey car insurance can stress out your family’s budget and make it impossible to make ends meet. Doing a rate comparison is free and is an excellent way to reduce premiums and put more money in your pocket.
Popular companies such as Progressive, Geico and Farmers Insurance all claim big savings, bombarding you with TV and radio ads and it can be hard to separate fact from fiction and do the work needed to find the best deal.
The quickest method to get policy rate comparisons is to take advantage of the fact auto insurance companies will pay a fee to provide you with a free rate quote. The only thing you need to do is give them rating details including if the vehicle is leased, your occupation, types of safety features, and whether you are single or married. Your information is submitted instantly to all major companies and they respond with quotes instantly.
Car insurance companies don’t always advertise all disounts in a way that’s easy to find, so we took the time to find a few of the more common and the harder-to-find discounts you could be receiving when you buy insurance coverage online. If you aren’t receiving every discount you qualify for, you could be paying more than you need to.
While discounts sound great, it’s important to understand that many deductions do not apply the the whole policy. Most only apply to the price of certain insurance coverages like collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, that’s just not realistic.
To find providers with discount rates, follow this link.
When buying the right insurance coverage, there really is not a cookie cutter policy. Every insured’s situation is different so your insurance needs to address that. For instance, these questions could help you determine if your insurance needs will benefit from professional help.
If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, complete this form or you can go here for a list of companies in your area.
Having a good grasp of a insurance policy aids in choosing the best coverages and proper limits and deductibles. Insurance terms can be impossible to understand and reading a policy is terribly boring. Listed below are the normal coverages offered by insurance companies.
Uninsured/Underinsured Motorist (UM/UIM) – This coverage gives you protection when the “other guys” do not carry enough liability coverage. This coverage pays for injuries to you and your family and also any damage incurred to your 1991 Chevy C/K 2500 Series.
Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Liability coverage – Liability coverage provides protection from damage or injury you incur to other people or property that is your fault. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 50/100/50 that translate to a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Occasionally you may see one number which is a combined single limit which provides one coverage limit without having the split limit caps.
Liability coverage pays for claims such as court costs, legal defense fees and medical services. How much coverage you buy is a personal decision, but consider buying higher limits if possible.
Comprehensive insurance – Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims like rock chips in glass, falling objects, damage from getting keyed and a tree branch falling on your vehicle. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for rehabilitation expenses, dental work, surgery, X-ray expenses and ambulance fees. They are used in conjunction with a health insurance program or if there is no health insurance coverage. They cover all vehicle occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Collision coverages – This pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for claims like sideswiping another vehicle, rolling your car and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible to bring the cost down.