2003 Saturn L-Series Insurance Cost – 7 Tricks for Best Prices

Want cheaper insurance rates for your Saturn L-Series? No one in their right mind looks forward to paying for insurance, particularly when they are paying too much.

Companies like State Farm, Geico and Farmers Insurance all promote huge savings with TV and radio ads and consumers find it hard to see past the geckos and flying pigs and effectively compare rates to find the best deal.

If you currently have a car insurance policy, you stand a good chance to be able to cut costs considerably using these methods. Finding affordable coverage is not that difficult. But consumers do need to know how the larger insurance companies price insurance differently and take advantage of how the system works.

More discounts mean lower-cost premiums

Auto insurance is not inexpensive, but you may qualify for discounts that can help lower your rates. Certain discounts will be triggered automatically at the time you complete a quote, but some must be requested specifically prior to receiving the credit. If you check and find you aren’t receiving every discount you qualify for, you could be paying more than you need to.

  • Waiver for an Accident – Not really a discount, but certain companies will allow you to have one accident before your rates go up if you have no claims for a set time period.
  • Discount for Life Insurance – Auto insurance companies who offer life insurance give a discounted price on car insurance if you buy life insurance.
  • Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them participate in a local driver’s education class if it’s offered in school.
  • Senior Citizen Discount – Older drivers are able to get a discount up to 10% for L-Series insurance.
  • Bundle and Save – If you can combine your auto and home policy and place coverage with the same company you could earn a discount of approximately 10% to 15%.
  • Passive Restraints and Air Bags – Cars that have air bags may qualify for discounts of 20 to 30 percent.
  • Homeowners Pay Less – Being a homeowner can earn you a little savings because owning a home means you have a higher level of financial diligence.

As a footnote on discounts, some of the credits will not apply the the whole policy. The majority will only reduce individual premiums such as comprehensive or collision. Even though it may seem like it’s possible to get free car insurance, insurance companies wouldn’t stay in business.

A few popular companies and the discounts they provide are:

  • American Family may offer discounts for good driver, bundled insurance, good student, accident-free, mySafetyValet, and multi-vehicle.
  • State Farm offers discounts including multiple autos, Steer Clear safe driver discount, student away at school, good student, and multiple policy.
  • 21st Century includes discounts for early bird, student driver, anti-lock brakes, 55 and older, air bags, theft prevention, and teen driver.
  • Travelers may include discounts for home ownership, student away at school, driver training, IntelliDrive, good student, and hybrid/electric vehicle.
  • Geico offers premium reductions for air bags, multi-vehicle, good student, anti-theft, daytime running lights, defensive driver, and five-year accident-free.

Before buying, ask every company how many discounts you can get. Discounts might not be offered on policies in your area. If you would like to see a list of insurance companies who offer online auto insurance quotes, follow this link.

It’s not one size fits all

When it comes to choosing the best auto insurance coverage, there is no “best” method to buy coverage. Your needs are not the same as everyone else’s so your insurance should reflect that Here are some questions about coverages that can help discover whether or not you might need an agent’s assistance.

  • Do I need added coverage for expensive stereo equipment?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Should I get collision insurance on every vehicle?
  • Why am I required to buy high-risk coverage?
  • When does my teenage driver need to be added to my policy?
  • If my pet gets injured in an accident are they covered?
  • Will I be non-renewed for getting a DUI or other conviction?

If it’s difficult to answer those questions, 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 or you can go here for a list of companies in your area.

Advertising myths

Car insurance companies such as State Farm and Allstate continually stream television and radio advertisements. They all seem to make the point that drivers will save a bundle after switching to their company. But how can every company charge you a lower premium? Here is the trick they use.

Many companies give the best rates for a prospective insured that makes them money. A good example of this type of insured should be a married male, carries high limits, and insures a new vehicle. Anyone that fits those parameters receive the lowest rate quotes as well as save when they switch companies.

Insureds who are not a match for these criteria will see higher rates with the end result being business going elsewhere. If you pay attention, the ads say “customers who switch” but not “everyone who gets a quote” save money. This is how insurance companies can confidently advertise the savings.

This really drives home the point why it is so important to get a wide range of price quotes. Because you never know the company that will have the lowest auto insurance rates for your situation.

Insurance coverage basics

Learning about specific coverages of your insurance policy aids in choosing the right coverages for your vehicles. Insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the usual coverages available from insurance companies.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your 2003 Saturn L-Series.

Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive insurance

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims such as falling objects, damage from getting keyed, hitting a deer and hail damage. The most a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Auto collision coverage

Collision insurance will pay to fix damage to your L-Series from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims like damaging your car on a curb, scraping a guard rail and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider dropping it from older vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.

Auto liability

Liability insurance protects you from injuries or damage you cause to other people or property. It protects you from claims by other people. It does not cover damage to your own property or vehicle.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000. Some companies may use one limit called combined single limit (CSL) that pays claims from the same limit without having the split limit caps.

Liability can pay for claims such as funeral expenses, medical services, attorney fees, pain and suffering 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.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP kick in for expenses for dental work, prosthetic devices and doctor visits. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. It covers you and your occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay

Shop. Compare. Save.

As you quote car insurance, it’s a bad idea to skimp on coverage in order to save money. In many instances, an insured cut liability coverage limits and learned later that saving that couple of dollars actually costed them tens of thousands. The goal is to purchase a proper amount of coverage at the lowest possible cost, but do not skimp to save money.

We just showed you a lot of tips how to compare 2003 Saturn L-Series insurance premium rates online. The most important thing to understand is the more companies you get prices for, the higher your chance of finding affordable car insurance. Consumers could even find that the lowest premium rates are with the smaller companies. Smaller companies often have lower prices on specific markets compared to the large companies like Allstate or State Farm.

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