Have you finally had enough of trying to scrape together enough money to pay your insurance bill each month? You are no different than many other consumers.
Drivers have multiple insurers to choose from, and although it’s nice to have a selection, it makes it harder to compare rates and cut insurance costs.
It’s important to compare rates yearly because insurance prices are adjusted regularly by insurance companies. Even if you think you had the lowest price for CR-V coverage six months ago you can probably find a lower rate today. Block out anything you think you know about insurance because you’re going to get a crash course in one of the quickest ways to save money, get proper coverage and the best rates.
Buying car insurance is not rocket science. If you have car insurance now, you should be able to lower your premiums substantially using these methods. Although drivers can benefit by having an understanding of the way insurance companies sell online because it can help you find the best coverage.
Smart consumers have a good feel for a few of the rating criteria that aid in calculating your policy premiums. If you have a feel for what positively or negatively impacts your premiums, this empowers consumers to make smart changes that could result in lower insurance coverage prices.
Shown below are some of the major factors used by companies to determine your rate level.
There are a lot of ways to compare insurance coverage quotes, but some are easier and takes less work. You can waste a few hours (or days) talking to insurance agencies in your area, or you could save time and use the internet to get rates in a matter of minutes.
All the larger companies enroll in a system that enables customers to complete one form, and every company can provide price quotes determined by their information. This prevents consumers from doing form submissions for every insurance coverage company.
To compare rates using this form now click here to open in new window.
The single downside to getting quotes like this is you are unable to specify which insurance companies to receive prices from. So if you prefer to choose specific providers to request quotes from, we put together a list of low cost insurance coverage companies in your area. Click here for list of insurance companies.
You can choose any of those ways to find more affodable coverage, but be sure you’re using apples-to-apples coverages and limits with every price quote. If the quotes have different deductibles it’s impossible to find the best deal for your Honda CR-V. Even a minor difference in coverage limits can mean a large discrepancy in price. It’s important to know that comparing a wide range of rates will enable you to find lower pricing. Not every company allows you to get prices over the internet, so it’s important to also get prices from those companies as well.
Car insurance companies such as Progressive, Geico, Allstate and State Farm constantly bombard you with television and radio advertisements. All the companies say the same thing that you can save if you move to their company. How does every company charge lower premium rates? Here is the trick they use.
Insurance providers have an ideal profile for the right customer that makes them money. An example of a profitable risk profile could be over the age of 45, has other policies, and drives less than 5,000 miles a year. A customer who fits those characteristics will get the preferred auto insurance rates and as a result will probably save a lot of money.
Potential customers who cannot meet these criteria will be charged a more expensive rate which translates to the customer buying from someone else. The ad wording is “people who switch” not “everyone that quotes” save money. That’s the way companies can make those statements. Because of these techniques, you really should do a quote comparison often. It’s just too difficult to predict with any certainty which company will have the lowest rate quotes.
Auto insurance companies don’t always advertise all disounts in a way that’s easy to find, so below is a list a few of the more well known as well as the least known credits that may apply to you.
Keep in mind that most discount credits are not given to the entire cost. Most only cut specific coverage prices like liability and collision coverage. So when the math indicates it’s possible to get free car insurance, it just doesn’t work that way. But all discounts should help lower the amount you pay for coverage.
Popular insurance coverage companies and some of the discounts can be found below.
When getting a coverage quote, ask every prospective company which credits you are entitled to. Discounts may not apply to policyholders in your area. To see companies that offer discounts, click here.
When buying proper insurance coverage, there is no “perfect” insurance plan. Your needs are not the same as everyone else’s and your policy should reflect that. For instance, these questions may help highlight whether you would benefit from professional advice.
If you can’t answer these questions, you might consider talking to an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of insurance companies in your area.
Learning about specific coverages of your policy can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Listed below are the usual coverages found on most insurance policies.
Liability coverages – This coverage will cover damage or injury you incur to other people or property in an accident. It protects YOU from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 25/50/25 that translate to a limit of $25,000 per injured person, $50,000 for the entire accident, and $25,000 of coverage for damaged propery.
Liability coverage pays for things such as medical expenses, emergency aid and bail bonds. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.
Collision coverage – This will pay to fix damage to your CR-V resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for claims like rolling your car, sustaining damage from a pot hole, colliding with another moving vehicle and hitting a mailbox. This coverage can be expensive, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to increase the deductible to save money on collision insurance.
Comprehensive or Other Than Collision – This pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims such as vandalism, rock chips in glass, a broken windshield, hitting a deer and damage from getting keyed. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.
UM/UIM Coverage – Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.
Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for X-ray expenses, funeral costs, chiropractic care, EMT expenses and doctor visits. The coverages can be used in conjunction with a health insurance plan or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Cheaper 2009 Honda CR-V insurance can be found both online as well as from insurance agents, so you need to quote insurance with both to have the best rate selection. Some insurance companies may not have price quotes online and usually these regional carriers only sell through independent insurance agents.
As you go through the steps to switch your coverage, don’t be tempted to skimp on critical coverages to save a buck or two. There are many occasions where consumers will sacrifice liability coverage limits only to regret at claim time that the savings was not a smart move. Your focus should be to purchase a proper amount of coverage at the best price, not the least amount of coverage.
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