Are you regretting the purchase of overpriced auto insurance? It’s quite common and many drivers feel the same as you. Due to the increasing number of online and local companies to choose from, it can be impossible to locate the most cost effective insurance company.
One of the most helpful ways to save on car insurance is to to have a grasp of the factors that go into determining the price you pay for car insurance. If you have a feel for what positively or negatively impacts your premiums, this enables informed choices that can help you get better car insurance rates.
The factors shown below are some of the most rate-impacting factors used by companies to determine your rates.
The quickest method to compare car insurance company rates is to know most larger insurance companies have advanced systems to compare their rates. To start a quote, the only thing you need to do is spend a couple of minutes providing details such as if you require a SR-22, whether you have decent credit, deductibles desired, and if you went to college. The rating information gets sent immediately to many highly-rated insurers and they respond with quotes quickly.
If you would like to start a quote now, click here and enter your zip code.
Some insurers don’t necessarily list every disount available in a way that’s easy to find, so the next list breaks down some of the more common and also the lesser-known discounts that you may qualify for.
A little note about advertised discounts, most credits do not apply to the overall cost of the policy. Most only apply to individual premiums such as liability and collision coverage. Just because it seems like you can get free auto insurance, you won’t be that lucky.
A few popular companies and some of their more popular discounts include:
Check with each company or agent what discounts are available to you. Some credits might not apply in every state. To locate insurance companies that offer many of these discounts, follow this link.
When buying coverage for your vehicles, there really is not a cookie cutter policy. Coverage needs to be tailored to your specific needs so your insurance needs to address that. These are some specific questions may help highlight whether your personal situation could use an agent’s help.
If you can’t answer these questions but one or more may apply to you, you may need to chat with a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can help protect your family.
Having a good grasp of your policy aids in choosing the right coverages and proper limits and deductibles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are typical coverages offered by insurance companies.
Liability auto insurance
This provides protection from injuries or damage you cause to other’s property or people that is your fault. This coverage protects you from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.
Liability coverage protects against claims like pain and suffering, medical services, bail bonds and attorney fees. How much liability coverage do you need? That is your choice, but you should buy as much as you can afford.
Collision insurance
Collision coverage will pay to fix damage to your C/K 1500 Series from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things like driving through your garage door, damaging your car on a curb, sideswiping another vehicle and crashing into a building. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. It’s also possible to bump up the deductible in order to get cheaper collision rates.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as a broken windshield, damage from a tornado or hurricane, damage from getting keyed, hitting a bird and hail damage. The maximum amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
Uninsured Motorist or Underinsured Motorist insurance
This gives you protection from other drivers when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as your vehicle’s damage.
Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Insurance for medical payments
Med pay and PIP coverage kick in for immediate expenses for things like X-ray expenses, dental work, nursing services, ambulance fees and pain medications. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers you and your occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
More affordable insurance coverage is available both online in addition to many insurance agents, so you should compare both in order to have the best price selection to choose from. Some insurance companies do not offer the ability to get a quote online and these regional carriers prefer to sell through independent agents.
When you buy auto insurance online, do not buy lower coverage limits just to save a few bucks. There have been many situations where someone dropped liability coverage limits only to find out that their decision to reduce coverage ended up costing them more. The goal is to buy a smart amount of coverage at an affordable rate, but do not skimp to save money.
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