Compare 2002 Mitsubishi Lancer Insurance Quotes

Searching for the cheapest auto insurance rates for your Mitsubishi Lancer? Cutting costs on auto insurance can seem to be a challenge for people who are beginners to buying insurance online. Since there are so many online companies available, it can easily turn into hard work to lower your prices.

Four factors that impact insurance rates

Multiple criteria are part of the equation when you get a price on insurance. Some are pretty understandable like a motor vehicle report, although some other factors are not quite as obvious like your vehicle usage or how financially stable you are.Part of the car insurance buying process is learning a few of the rating criteria that come into play when calculating the price you pay for car insurance. If you have some idea of what positively or negatively impacts your premiums, this helps enable you to make changes that may reward you with cheaper rates.

  • Bad credit hurts insurance costs – An insured’s credit score is a big factor in calculating your premium rate. If your credit rating can be improved, you could pay less to insure your 2002 Mitsubishi Lancer by improving your rating. People with high credit scores tend to be less risk to insure than those with bad credit.
  • Gaps in coverage mean higher rates – Driving any period of time without insurance is a big no-no and you will pay a penalty because you let your coverage have a gap. Not only will you pay more, being ticketed for driving with no insurance could result in a revoked license or a big fine.
  • Know your vehicle’s IIHS safety rating – Cars with high safety ratings can get you lower premiums. Safer cars protect occupants better and fewer injuries translates into fewer and smaller insurance claims and lower rates for you.
  • Vehicle options can affect car insurance rates – Choosing to buy a car with anti-theft technology or alarm system can help lower your rates. Theft prevention devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart auto theft and help lower rates.

Earn discounts on insurance coverage

Auto insurance companies don’t list every policy discount very well, so below is a list a few of the more well known as well as the least known ways to save on insurance coverage.

  • Federal Government Employee – Active or former government employment can earn a discount up to 10% on Lancer insurance depending on your company.
  • Multi-policy Discount – When you combine your auto and home insurance and insure them with the same company you could save approximately 10% to 15%.
  • Life Insurance Discount – Select insurance carriers reward you with a break if you buy auto and life insurance together.
  • Air Bags and Passive Restraints – Vehicles equipped with air bags can qualify for discounts as much as 30%.
  • Discount for Home Ownership – Just being a homeowner can help you save on insurance coverage because of the fact that having a home is proof that your finances are in order.
  • Seat Belt Usage – Requiring all passengers to use a seat belt could cut 10% or more off the medical payments premium.
  • Braking Control Discount – Vehicles with ABS braking systems or traction control are much safer to drive so you can save 10 percent or more.
  • Accident Waiver – This one is not really a discount per se, but companies like Allstate and Geico will allow you to have one accident without the usual rate increase as long as you don’t have any claims for a set time period.

Just know that most discount credits are not given the the whole policy. Some only reduce the price of certain insurance coverages like liability and collision coverage. Just because it seems like it’s possible to get free car insurance, company stockholders wouldn’t be very happy.

If you would like to see a list of companies with significant discounts, follow this link.

Are you falling for claims of savings?

21st Century, Allstate and State Farm continually stream ads on TV and radio. All the ads have a common claim about how much you will save if you change to them. But how can every company sell you cheaper insurance coverage? It’s all in how they say it.

Many companies look for specific characteristics for the right customer that will not have excessive claims. An example of a desirable risk may need to be over the age of 40, owns their home, and drives a car with an anti-theft system. Someone that hits that “sweet spot” will probably get cheap prices as well as pay quite a bit less when switching companies.

Drivers who fall outside the ideal profile must pay higher rates and the customer buying from someone else. If you listen to the ad wording, they say “people that switch” not “everybody who quotes” will save that much if they switch. This is how insurance companies can confidently make it sound like they have such great prices. That is why you need to get price quotes at each policy renewal. It’s just not possible to know the company that will provide the lowest premium rates.

Tailor your insurance coverage to you

When buying coverage, there isn’t really a perfect coverage plan. Coverage needs to be tailored to your specific needs.

For instance, these questions might help in determining if your situation could use an agent’s help.

  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Am I covered if I crash into my own garage door?
  • Is my teenager covered with friends in the car?
  • Can I afford low physical damage deductibles?
  • Are rock chip repairs covered?
  • Do I pay less for low miles?
  • How high should my medical payments coverage be?

If you don’t know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out this quick form.

Insurance coverage options for a Mitsubishi Lancer

Learning about specific coverages of your insurance policy aids in choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring.

Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses like chiropractic care, X-ray expenses and surgery. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants in addition to any family member struck as a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Comprehensive auto coverage – Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like falling objects, damage from flooding and damage from getting keyed. The highest amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This provides protection when other motorists either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and also any damage incurred to your Mitsubishi Lancer.

Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Collision coverage – This pays to fix your vehicle from damage from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims like scraping a guard rail, crashing into a building, driving through your garage door and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

Liability auto insurance – This can cover injuries or damage you cause to other’s property or people that is your fault. It protects you from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 100/300/100 which means a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability insurance covers things such as attorney fees, repair bills for other people’s vehicles, medical expenses, bail bonds and medical services. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.

Buy Smart and Save

Some companies don’t offer the ability to get a quote online regional carriers sell through local independent agencies. Budget-conscious 2002 Mitsubishi Lancer insurance can be purchased both online and from local agencies, and you need to comparison shop both to get a complete price analysis.

As you go through the steps to switch your coverage, it’s a bad idea to buy less coverage just to save a little money. In too many instances, drivers have reduced collision coverage only to regret at claim time they didn’t purchase enough coverage. Your aim should be to buy enough coverage at the best possible price, not the least amount of coverage.

Drivers who switch companies do it for a number of reasons such as extreme rates for teen drivers, policy non-renewal, being labeled a high risk driver and delays in responding to claim requests. Whatever your reason, choosing a new insurance company can be easy and end up saving you some money.

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