2005 Mitsubishi Lancer Car Insurance Rates – 7 Policy Discounts

Searching for better insurance rates for your Mitsubishi Lancer? High-priced Mitsubishi Lancer insurance can eat up your personal savings and possibly require you to analyze your spending habits. Doing a rate comparison is free, only takes a few minutes, and is a good way to make ends meet.

Drivers have so many car insurance companies to choose from, and though it is a good thing to have multiple companies, more choices can make it harder to get the best deal.

Finding the best rates is quite easy. Just about everyone who is shopping for car insurance stands a good chance to be able to find better rates. Although vehicle owners must understand how big insurance companies market insurance on the web and take advantage of how the system works.

Seven discounts for lower-cost insurance coverage rates

Car insurance companies don’t always advertise all disounts in an easy-to-find place, so the list below gives a summary of some of the more common as well as some of the hidden insurance coverage savings. If you are not receiving all the discounts you qualify for, you could be getting lower rates.

  • Multi-car Discount – Buying insurance for multiple cars with the same company can get a discount on all vehicles.
  • ABS and Traction Control Discounts – Cars, trucks, and SUVs that have steering control and anti-lock brakes can stop better under adverse conditions and therefore earn up to a 10% discount.
  • Memberships – Belonging to a civic or occupational organization could trigger savings on your next insurance coverage statement.
  • Pay Now and Pay Less – If you pay your bill all at once rather than paying monthly you could save up to 5%.
  • Air Bags and Passive Restraints – Cars that have air bags can qualify for discounts of up to 25% or more.
  • Student Driver Training – Reduce the cost of insurance for teen drivers by having them complete a driver education course as it can save substantially.
  • Low Miles Discount – Driving less can earn discounted insurance coveragerates on garaged vehicles.

Just know that many deductions do not apply to the entire cost. Some only apply to the cost of specific coverages such as collision or personal injury protection. So even though it sounds like you could get a free insurance coverage policy, nobody gets a free ride.

Large insurance coverage companies and some of their more popular discounts are outlined below.

  • Progressive may offer discounts for online signing, online quote discount, good student, multi-vehicle, continuous coverage, homeowner, and multi-policy.
  • SAFECO offers discounts for anti-theft, safe driver, anti-lock brakes, teen safe driver, and accident prevention training.
  • American Family may have discounts that include air bags, accident-free, early bird, Steer into Savings, and bundled insurance.
  • MetLife offers premium reductions for claim-free, accident-free, multi-policy, good student, defensive driver, and good driver.
  • Geico may include discounts for federal employee, good student, membership and employees, driver training, multi-vehicle, multi-policy, and seat belt use.
  • The Hartford discounts include air bag, bundle, driver training, anti-theft, defensive driver, and good student.

Double check with every company how you can save money. Depending on the company, some discounts may not apply to policyholders in your area. To view companies that can offer you the previously mentioned discounts, follow this link.

Advertising and insurance coverage

Progressive, Geico, Allstate and State Farm regularly use ads on television and other media. All the companies seem to make the promise about savings after switching your policy. How can each company charge you less for car insurance? It’s all in the words they use.

All companies offer their best rates for the driver that will not have excessive claims. An example of a profitable customer could possibly be over age 30, has no driving citations, and has excellent credit. Someone that hits that “sweet spot” will probably get the lowest car insurance rates and will most likely save a lot if they switch.

People who fall short of these standards may be required to pay a higher premium which usually ends up with the customer buying from someone else. The ads state “drivers who switch” but not “all drivers who get quotes” save that kind of money. This is how companies can truthfully make claims like that. Because every company is different, you really need to get a wide range of price quotes. It’s not possible to predict which company will provide you with the cheapest car insurance rates.

You may need specialized auto insurance coverage

When buying proper insurance coverage, there really is no best way to insure your cars. Each situation is unique and a cookie cutter policy won’t apply. For instance, these questions may help you determine if your situation will benefit from professional help.

  • Is my cargo covered for damage or theft?
  • Am I covered if I hit my neighbor’s mailbox?
  • Do I need medical payments coverage since I have good health insurance?
  • Am I covered if I hit a deer?
  • What vehicles should carry emergency assistance coverage?
  • When can my company non-renew my policy?

If it’s difficult to answer those questions, then you may want to think about talking to an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of auto insurance companies in your area.

Insurance coverage breakdown

Understanding the coverages of a insurance policy aids in choosing the best coverages and the correct deductibles and limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy. Shown next are the usual coverages found on the average insurance policy.

Collision – This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision can pay for things like damaging your car on a curb, rolling your car and hitting a parking meter. Collision is rather expensive coverage, so consider dropping it from older vehicles. You can also choose a higher deductible to bring the cost down.

Liability coverage – This can cover damage that occurs to other’s property or people that is your fault. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 25/50/25 which means a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property.

Liability coverage protects against claims such as funeral expenses, repair bills for other people’s vehicles and legal defense fees. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible.

Coverage for medical payments – Coverage for medical payments and/or PIP reimburse you for bills for things like rehabilitation expenses, pain medications and surgery. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal Injury Protection is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured and underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Mitsubishi Lancer.

Since many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.

Comprehensive coverages – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for things like vandalism, rock chips in glass, theft, falling objects and hail damage. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Final considerations

Throughout this article, we presented a lot of techniques to save on 2005 Mitsubishi Lancer insurance. The key concept to understand is the more rate comparisons you have, the better your comparison will be. You may be surprised to find that the biggest savings come from a small local company. Some small companies can often insure niche markets at a lower cost than their larger competitors like Progressive and Geico.

As you quote insurance coverage, you should never buy poor coverage just to save money. Too many times, someone sacrificed comprehensive coverage or liability limits to discover at claim time they didn’t purchase enough coverage. Your focus should be to buy enough coverage at the best possible price, but do not sacrifice coverage to save money.

More detailed car insurance information is available in the articles below: