Being forced to pay for expensive insurance premiums can consume your savings account and force you to prioritize other expenses. Comparison shopping is a smart way to reduce premiums and put more money in your pocket.
With so many different company options, it’s nearly impossible to locate a lower cost company.
Finding cheap insurance coverage rates doesn’t have to be difficult. Drivers just need to invest a few minutes to get quotes from some recommended companies. Shoppers can get rates in a couple of different ways.
To view a list of companies in your area, click here.
It doesn’t matter which method you choose, just double check that you are using exactly the same coverages and limits for each price quote. If you compare different coverage information it’s impossible to decipher which rate is best.
Companies that sell car insurance don’t always publicize their entire list of discounts in an easy-to-find place, so the below list has both the well known as well as some of the hidden discounts you could be receiving when you buy insurance online.
Discounts lower rates, but many deductions do not apply to your bottom line cost. The majority will only reduce individual premiums such as liability and collision coverage. If you do the math and it seems like all those discounts means the company will pay you, company stockholders wouldn’t be very happy. Any amount of discount will cut your overall bill.
To choose insurers who offer auto insurance discounts, click here to view.
When choosing coverage for your vehicles, there really is no one size fits all plan. Everyone’s situation is unique so this has to be addressed. These are some specific questions can help discover whether or not you will benefit from professional help.
If you can’t answer these questions but one or more may apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of car insurance companies in your area. It is quick, free and you can get the answers you need.
Many factors are part of the equation when you get your auto insurance bill. Some are pretty understandable like your driving record, but other factors are not as apparent such as your marital status or how financially stable you are.
The list below includes some of the most common factors used by companies to determine premiums.
Understanding the coverages of car insurance helps when choosing appropriate coverage at the best deductibles and correct limits. Car insurance terms can be ambiguous and coverage can change by endorsement. Listed below are typical coverages available from car insurance companies.
Collision coverages – Collision coverage pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision coverage pays for things like driving through your garage door, scraping a guard rail, backing into a parked car and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible in order to get cheaper collision rates.
Auto liability – Liability insurance provides protection from damage or injury you incur to other people or property by causing an accident. This coverage protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 50/100/50 which means $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.
Liability can pay for things like repair bills for other people’s vehicles, medical services, court costs and legal defense fees. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.
Comprehensive car insurance – Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive can pay for claims such as damage from flooding, theft, hitting a deer, falling objects and a tree branch falling on your vehicle. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Coverage for medical expenses – Medical payments and Personal Injury Protection insurance pay for bills for rehabilitation expenses, ambulance fees and dental work. They are often utilized in addition to your health insurance program or if you lack health insurance entirely. It covers all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not universally available and may carry a deductible
Coverage for uninsured or underinsured drivers – This provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries and also any damage incurred to your 2013 BMW X6.
Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Budget-friendly auto insurance can be purchased from both online companies and from local insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some insurance companies may not provide online quoting and these smaller providers sell through independent agents.
As you quote insurance, never reduce needed coverages to save money. There are a lot of situations where an accident victim reduced comprehensive coverage or liability limits and discovered at claim time they didn’t have enough coverage. The aim is to find the BEST coverage at the best price, but don’t skip important coverages to save money.
More tips and info about auto insurance can be read in the articles below: