Cheaper 2003 Mitsubishi Lancer Evolution Insurance Rates

Buying budget-priced insurance coverage can seem to be somewhat intimidating for vehicle owners who are new to buying insurance over the internet. With more and more online companies, how can anyone have the ability to compare each option to find the best pricing?

Decisions you make can impact your insurance rates

An important part of buying insurance is that you know some of the elements that go into determining your premiums. If you understand what influences your rates, this helps enable you to make changes that may result in cheaper rates.

The factors shown below are some of the most rate-impacting factors used by companies to determine premiums.

  • Insurance rates and your occupation – Did you know your insurance rates can be affected by your occupation? Careers like fire fightersair traffic controllers and accountants are shown to have the highest rates due to job stress and long work days. Other occupations like professors, students and the unemployed get better rates on Lancer Evolution insurance.
  • Save money by staying claim free – If you frequently file small claims, you shouldn’t be surprised to get higher premiums or even policy non-renewal. Insurance companies generally give cheaper rates to people who are not frequent claim filers. Your car insurance is intended for major claims that would cause financial hardship.
  • Annual miles is a factor – The higher the mileage driven each year the higher the price you pay to insure it. The majority of insurers rate vehicles based on how the vehicle is used. Vehicles that sit idle most of the time can be on a lower rate level than cars that get driven a lot. Make sure your insurance policy properly reflects the correct usage. A policy that improperly rates your Lancer Evolution can result in significantly higher rates.
  • Teenage driver insurance rates – More mature drivers tend to be more responsible, statistically cause fewer accidents and get fewer tickets.Inexperience drivers have been known to be inattentive with other occupants in the car and because of this, their insurance rates are much higher.
  • Where you call home plays a part – Residing in less populated areas of the country is a good thing when trying to find low car insurance rates. Fewer drivers means a lower chance of having an accident. Urban drivers tend to have congested traffic and much longer commute distances. Spending more time driving can result in more accidents.
  • Never have policy lapses – Allowing your insurance policy to lapse can be a sure-fire way to pay more for insurance. And not only will insurance be more expensive, the inability to provide proof of insurance may earn you fines or a revoked license.
  • Your car’s features help determine prices – Selecting a car model with a theft deterrent system can help lower your premiums. Theft prevention features such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart auto theft.
  • How credit rating affects insurance rates – Your credit score is a big factor in calculating your premium rate. Insureds that have very high credit ratings tend to be less risk to insure than those with lower credit ratings. Therefore, if your credit rating is lower than you’d like, you could potentially save money when insuring your 2003 Mitsubishi Lancer Evolution by spending a little time repairing your credit.

Lower rate quotes with these discounts

Car insurance can be pricey, but you may be missing some discounts that could drop your premiums quite a bit. Most are applied when you complete an application, but a few need to be specially asked for before being credited. If you aren’t receiving every discount possible, you’re just leaving money on the table.

  • Pay Early and Save – By paying your entire bill at once instead of paying each month you may have a lower total premium amount.
  • Organization Discounts – Belonging to qualifying clubs or civic groups is a good way to get lower rates on your bill.
  • New Vehicle Savings – Buying a new car instead of a used car can get you a discount since new vehicles have better safety ratings.
  • Resident Student – who live away from home to go to college and won’t have access to an insured vehicle could qualify for this discount.
  • Theft Deterent – Vehicles that have factory alarm systems and tracking devices prevent vehicle theft and therefore earn up to a 10% discount.
  • Senior Citizens – Older drivers may receive a small discount on rates on Lancer Evolution insurance.
  • Good Driver Discounts – Drivers who don’t get into accidents can save as much as half off their rates on Lancer Evolution insurance than drivers with accidents.
  • Federal Employees – Active or former government employment can save as much as 8% on Lancer Evolution insurance with select insurance companies.

You should keep in mind that some of the credits will not apply to all coverage premiums. Most cut specific coverage prices like comp or med pay. Even though it may seem like adding up those discounts means a free policy, insurance companies wouldn’t stay in business.

A few of the larger companies and some of their more popular discounts are detailed below.

  • State Farm includes discounts for accident-free, anti-theft, good student, Steer Clear safe driver discount, and safe vehicle.
  • Progressive has savings for multi-vehicle, multi-policy, online quote discount, continuous coverage, online signing, good student, and homeowner.
  • Progressive may include discounts for homeowner, good student, continuous coverage, multi-policy, and multi-vehicle.
  • MetLife offers premium reductions for good student, claim-free, accident-free, good driver, defensive driver, and multi-policy.
  • Farm Bureau discounts include renewal discount, multi-policy, safe driver, driver training, and good student.
  • Geico may offer discounts for federal employee, multi-policy, driver training, membership and employees, defensive driver, and military active duty.
  • SAFECO has discounts for bundle discounts, drive less, anti-lock brakes, teen safety rewards, multi-car, and anti-theft.

Before buying, ask every insurance company the best way to save money. Discounts might not apply everywhere. To see a list of car insurance companies that have a full spectrum of discounts, click here.

Auto insurance can be complex

When it comes to buying the right insurance coverage for your vehicles, there really is no best way to insure your cars. Every situation is different.

These are some specific questions may help highlight if you may require specific advice.

  • Do I benefit by insuring my home with the same company?
  • How do I buy GAP insurance?
  • When can I cancel my policy?
  • When would I need additional glass coverage?
  • Will my insurance pay for OEM parts?
  • Should I sign the liability waiver when renting a car?
  • Do I need replacement cost coverage?
  • Am I covered when driving someone else’s vehicle?

If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form.

Car insurance coverage specifics

Having a good grasp of car insurance can help you determine appropriate coverage and proper limits and deductibles. Car insurance terms can be ambiguous and even agents have difficulty translating policy wording.

Auto liability – Liability coverage will cover injuries or damage you cause to people or other property. This insurance protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 25/50/25 which means $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.

Liability coverage protects against claims such as repair bills for other people’s vehicles, legal defense fees, emergency aid and bail bonds. The amount of liability coverage you purchase is a personal decision, but buy as much as you can afford.

Collision coverage – This covers damage to your Lancer Evolution resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.

Collision can pay for things like sustaining damage from a pot hole, hitting a mailbox, sideswiping another vehicle, crashing into a building and driving through your garage door. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible in order to get cheaper collision rates.

UM/UIM Coverage – This coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Mitsubishi Lancer Evolution.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Comprehensive or Other Than Collision – Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims such as a broken windshield, damage from a tornado or hurricane and hitting a deer. The most your car insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

Medical costs insurance – Coverage for medical payments and/or PIP provide coverage for immediate expenses for hospital visits, surgery and doctor visits. They can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay

Don’t be a big spender

When you buy car insurance online, don’t be tempted to reduce needed coverages to save money. In too many instances, consumers will sacrifice uninsured motorist or liability limits only to discover later that they should have had better coverage. Your goal is to get the best coverage possible at the best cost.

Drivers switch companies for a variety of reasons including denial of a claim, policy non-renewal, lack of trust in their agent and questionable increases in premium. Regardless of your reason for switching companies, choosing a new insurance company is pretty simple and you could end up saving a buck or two.

Lower-priced insurance coverage can be found on the web and from local insurance agents, and you need to comparison shop both so you have a total pricing picture. Some insurance coverage companies may not have the ability to get a quote online and many times these smaller companies only sell coverage through independent insurance agents.

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