Cutting costs on auto insurance is always challenging for people not familiar with comparison shopping online. With so many companies in the marketplace, it can easily become a real hassle to find the lowest price.
Some insurance providers do not advertise every possible discount in a way that’s easy to find, so we break down some of the best known as well as some of the hidden credits that may apply to you.
A little note about advertised discounts, most of the big mark downs will not be given to the entire policy premium. A few only apply to the cost of specific coverages such as comp or med pay. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way.
To choose insurance companies with discount rates, click here.
Shopping for lower car insurance rates is a ton of work if you don’t utilize the fastest way to get free quotes. You can spend your afternoon discussing policy coverages with agents in your area, or you can utilize the internet to achieve your goal.
Many popular insurance companies participate in an industry program where insurance shoppers submit their information once, and every company returns a rated price. This eliminates the need for quotation requests to each individual car insurance company.
To participate in this free quote system, click here to start a free quote.
One minor caviat to pricing coverage this way is you are unable to specify the providers you want to price. So if you want to select specific providers to compare, we have assembled a list of car insurance companies in your area. Click here to view list.
Compare rates however you want, just do your best to use the same coverage information on every price quote you get. If each company quotes differing limits it’s impossible to get a fair rate comparison. Just slight variations in coverages may result in a large different in cost. Just keep in mind that getting more free quotes increases your odds of finding better pricing. Not every company provides online rate quotes, so you also need to get rates from the smaller companies as well.
Consumers need to have an understanding of the rating factors that are used to determine your policy premiums. When you understand what determines base rates, this enables informed choices that may reward you with big savings.
When it comes to choosing the best insurance coverage coverage for your personal vehicles, there really is no one size fits all plan. Everyone’s situation is unique.
For example, these questions could help you determine whether your personal situation would benefit from an agent’s advice.
If you’re not sure about those questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you don’t have a local agent, complete this form.
Having a good grasp of your car insurance policy can help you determine the right coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Collision coverage pays for damage to your Caravan from colliding with another car or object. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for claims such as scraping a guard rail, colliding with a tree, crashing into a ditch, driving through your garage door and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from lower value vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.
This coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Most of the time the UM/UIM limits are similar to your liability insurance amounts.
This coverage can cover injuries or damage you cause to other people or property. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see values of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability can pay for things like loss of income, legal defense fees, emergency aid and funeral expenses. How much coverage you buy is your choice, but consider buying as large an amount as possible.
Med pay and PIP coverage pay for expenses such as chiropractic care, pain medications, ambulance fees and hospital visits. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
This will pay to fix damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things like theft, rock chips in glass, damage from a tornado or hurricane and fire damage. The most you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
As you shop your coverage around, make sure you don’t buy lower coverage limits just to save a few bucks. In many instances, drivers have reduced collision coverage and discovered at claim time that the few dollars in savings costed them thousands. Your aim should be to find the BEST coverage for the lowest cost but still have enough coverage for asset protection.
People leave their current company for any number of reasons including policy cancellation, high rates after DUI convictions, extreme rates for teen drivers and even being labeled a high risk driver. Regardless of your reason for switching companies, finding the right car insurance provider is not as difficult as it may seem.
Budget-friendly car insurance is possible from both online companies and from local agencies, and you should compare price quotes from both to have the best rate selection. Some car insurance companies do not provide rate quotes online and these smaller providers provide coverage only through local independent agencies.
More detailed car insurance information is located in the articles below: