If you’ve never shopped for insurance coverage quotes online, chances are good that you are bewildered by the crazy number of insurers selling insurance.
Consumers need to have an understanding of some of the factors that help determine your auto insurance rates. When you understand what determines premiums, this empowers consumers to make smart changes that can earn you big savings.
The itemized list below are a partial list of the pieces that factor into your rates.
Not too many consumers would say auto insurance is affordable, but you might be missing out on some discounts that you may not even know about. Some discounts will apply at quote time, but occassionally some discounts must be asked about before you will receive the discount.
Keep in mind that some of the credits will not apply to your bottom line cost. A few only apply to the cost of specific coverages such as liability, collision or medical payments. So even though they make it sound like all those discounts means the company will pay you, it doesn’t quite work that way.
Insurance companies that possibly offer some of the above discounts include:
If you are trying to find cheap insurance coverage quotes, ask all the companies to give you their best rates. Savings may not be offered in your area.
When choosing the right insurance coverage for your vehicles, there really is not a “perfect” insurance plan. Your needs are not the same as everyone else’s.
These are some specific questions might point out whether or not you might need professional guidance.
If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form.
Understanding the coverages of a auto insurance policy can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be ambiguous and nobody wants to actually read their policy.
Coverage for liability
Liability insurance provides protection from injuries or damage you cause to other people or property in an accident. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 25/50/25 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and $25,000 of coverage for damaged propery. Alternatively, you may have a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.
Liability can pay for claims such as pain and suffering, emergency aid, attorney fees, legal defense fees and court costs. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.
Uninsured and underinsured coverage
This provides protection when the “other guys” either are underinsured or have no liability coverage at all. 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, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Comprehensive coverages
Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like rock chips in glass, vandalism, damage from flooding and hail damage. The most you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Collision insurance
This pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for things such as colliding with another moving vehicle, colliding with a tree, damaging your car on a curb and driving through your garage door. This coverage can be expensive, so you might think about dropping it from lower value vehicles. You can also bump up the deductible to save money on collision insurance.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance provide coverage for bills for nursing services, X-ray expenses and hospital visits. The coverages can be used to fill the gap from your health insurance program or if you are not covered by health insurance. They cover both the driver and occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay
Consumers who switch companies do it for a number of reasons such as delays in responding to claim requests, delays in paying claims, being labeled a high risk driver or even questionable increases in premium. Regardless of your reason for switching companies, choosing a new company can be easy and end up saving you some money.
The cheapest 2002 Bentley Arnage insurance is available online and from local agencies, so you should be comparing quotes from both to have the best selection. There are still a few companies who don’t offer online price quotes and many times these smaller providers only sell coverage through independent agents.
When shopping online for insurance coverage, do not skimp on coverage in order to save money. Too many times, drivers have reduced full coverage only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find at a price you can afford but still have enough coverage for asset protection.
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