Are you burned out from paying out the nose each month for car insurance? You are in the same boat as most other vehicle owners. Insurance companies such as State Farm and Geico all claim big savings, bombarding you with advertising and it can be hard to ignore the flying pigs and cute green geckos and do the work needed to find the best deal.
Smart consumers have a good feel for the rating factors that help calculate car insurance rates. When you understand what determines base rates, this allows you to make good choices that could result in better car insurance rates.
Companies don’t always advertise the complete list of policy discounts very well, so the below list has some of the best known and the more hidden ways to save on insurance.
You should keep in mind that many deductions do not apply to your bottom line cost. Most only apply to the price of certain insurance coverages like comp or med pay. So when it seems like you would end up receiving a 100% discount, nobody gets a free ride.
Companies that may offer quotes with these benefits are:
Double check with each company or agent to give you their best rates. Depending on the company, some discounts may not apply in your area. If you would like to choose from a list of insurers who offer insurance discounts, click here to view.
When buying the best insurance coverage coverage, there really is no perfect coverage plan. Every situation is different so this has to be addressed. For instance, these questions might point out if you would benefit from professional advice.
If you’re not sure about those questions, you might consider talking to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of insurance coverage companies in your area. It only takes a few minutes and may give you better protection.
Having a good grasp of insurance helps when choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. Shown next are the normal coverages available from insurance companies.
Comprehensive protection – This will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as a broken windshield, theft, damage from a tornado or hurricane and hitting a deer. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Medical expense coverage – Coverage for medical payments and/or PIP pay for expenses for rehabilitation expenses, nursing services, funeral costs and surgery. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and will also cover getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay
Liability insurance – Liability coverage provides protection from injuries or damage you cause to other’s property or people in an accident. This coverage protects you from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 25/50/25 which stand for $25,000 bodily injury coverage, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.
Liability can pay for claims like repair costs for stationary objects, medical expenses, funeral expenses, emergency aid and pain and suffering. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.
Uninsured or underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Volvo V70.
Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked.
Collision coverage – Collision insurance pays for damage to your V70 caused by collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for claims such as hitting a mailbox, colliding with another moving vehicle, hitting a parking meter, backing into a parked car and crashing into a building. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to raise the deductible to get cheaper collision coverage.
Cheaper insurance coverage can be sourced on the web and with local insurance agents, so you should be comparing quotes from both to have the best selection. There are still a few companies who may not offer rates over the internet and usually these regional insurance providers work with local independent agents.
We’ve covered quite a bit of information on how to save on 1998 Volvo V70 insurance. It’s most important to understand that the more rate quotes you have, the higher your chance of finding the cheapest insurance. You may even discover the lowest priced insurance coverage comes from some of the smallest insurance companies. Regional companies can often provide lower prices in certain areas as compared to the big name companies such as State Farm and Allstate.