Are you tired of trying to scrape together enough money to buy insurance coverage? You have the same problem as millions of other people. Many car insurance companies vie for your hard-earned dollar, and because of this it can be hard to compare auto insurance companies to find the absolute best rates possible.
Auto insurance companies don’t always advertise all their discounts in an easy-to-find place, so the list below contains a few of the more well known as well as the least known discounts you could be receiving when you buy insurance coverage online.
Don’t be surprised that most discounts do not apply the the whole policy. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. If you do the math and it seems like all those discounts means the company will pay you, it just doesn’t work that way. But any discount will bring down the premium cost.
The best insurance companies and a selection of discounts are:
Before purchasing a policy, check with every company how many discounts you can get. Savings might not be available to policyholders everywhere.
The best way to find cheaper insurance is to take a look at some of the factors that play a part in calculating the rates you pay for insurance. If you have some idea of what influences your rates, this empowers consumers to make smart changes that may reward you with much lower annual insurance costs.
The items below are most of the major factors used by your company to calculate rates.
When choosing the best insurance coverage coverage for your personal vehicles, there really is not a perfect coverage plan. Every insured’s situation is different and your policy should reflect that. For example, these questions might point out if your insurance needs would benefit from professional advice.
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It is quick, free and can provide invaluable advice.
Consumers constantly see and hear ads that claim the best premium rates by companies like State Farm and Allstate. All the ads convey the message that people will save just by switching your policy.
That’s great but how can every company give you a better price? Just pay attention to how they say it.
Many companies give the best rates for the type of insured that will generate a profit. One example of a profitable risk profile could be between the ages of 30 and 50, owns their home, and drives a lower-performance vehicle. Any driver who matches those parameters will qualify for the lowest car insurance rates and most likely will save when switching.
Consumers who do not fit the requirements will be quoted a more expensive rate and this can result in the customer not buying. If you pay attention, the ads say “people that switch” not “all people who quote” can save as much as they claim. This is how insurance companies can advertise the way they do.
This really drives home the point why you really should compare many company’s premium rates. It’s just too difficult to predict which company will have the lowest car insurance rates for your situation.
Having a good grasp of auto insurance can help you determine appropriate coverage and the correct deductibles and limits. Auto insurance terms can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages found on most auto insurance policies.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage pay for bills for things like EMT expenses, chiropractic care, pain medications, nursing services and ambulance fees. They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. It covers both the driver and occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as damage to your 2012 Audi TT RS.
Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.
Comprehensive coverage (or Other than Collision)
This coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like damage from flooding, vandalism, hail damage, rock chips in glass and theft. The maximum amount your auto insurance company will pay is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Auto liability
This coverage can cover damage that occurs to other people or property. It protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 which means $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined single limit or CSL which limits claims to one amount without having the split limit caps.
Liability insurance covers things such as pain and suffering, repair bills for other people’s vehicles, emergency aid, structural damage and legal defense fees. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford.
Collision insurance
Collision coverage pays for damage to your TT RS resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage pays for things like crashing into a ditch, damaging your car on a curb, colliding with another moving vehicle and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also increase the deductible to bring the cost down.
When searching for inexpensive insurance coverage quotes, make sure you don’t buy poor coverage just to save money. In too many instances, consumers will sacrifice full coverage only to regret that the few dollars in savings costed them thousands. The proper strategy is to buy the best coverage you can find at the best cost, but do not sacrifice coverage to save money.
Some insurance companies do not provide the ability to get quotes online and many times these small insurance companies prefer to sell through independent insurance agents. More affordable insurance can be purchased on the web as well as from insurance agents, and you should be comparing both to have the best selection.
Much more information about insurance can be found below: