Did you fall for a flashy sales pitch and buy overpriced auto insurance? You’re in good company because many consumers feel financially strained by their auto insurance policy. Drivers have so many auto insurance companies to insure vehicles with, and although it’s nice to have a choice, more choices can make it harder to find the lowest rates.
Companies don’t always publicize every possible discount in an easy-to-find place, so the list below details both the well known and the more hidden credits available to you.
A quick disclaimer, most discount credits are not given to the overall cost of the policy. Most cut individual premiums such as comp or med pay. So even though they make it sound like adding up those discounts means a free policy, you won’t be that lucky.
Larger auto insurance companies and their offered discounts are:
Check with each company which discounts can lower your rates. Depending on the company, some discounts may not be offered everywhere. To see a list of companies with the best auto insurance discounts, follow this link.
When choosing adequate coverage for your vehicles, there really is no “best” method to buy coverage. Every insured’s situation is different so this has to be addressed. These are some specific questions may help you determine if your situation would benefit from professional advice.
If you can’t answer these questions but a few of them apply then you might want to talk to an insurance agent. If you want to speak to an agent in your area, fill out this quick form or go to this page to view a list of companies. It only takes a few minutes and may give you better protection.
Consumers can’t avoid all the ads for cheaper auto insurance from the likes of Progressive, Allstate and Geico. They all tend to make the same promise that you can save after switching your policy.
How can each company offer drivers better rates? This is the way they can do it.
Companies require specific criteria for the type of customer that earns them the most money. A good example of a profitable customer could be between the ages of 40 and 55, has never had a policy lapse, and has a high credit rating. A customer who matches those parameters receives the best prices and have a good chance to save money with a new company.
Consumers who are not a match for these criteria may be forced to pay a higher premium which translates to the customer not purchasing. The ads state “people that switch” not “everyone that quotes” save that kind of money. This is how companies can truthfully advertise the savings. Because every company is different, it’s extremely important to compare quotes as often as possible. It is impossible to predict which insurance companies will fit your personal profile best.
Understanding the coverages of a auto insurance policy can help you determine the right coverages and the correct deductibles and limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording. These are the normal coverages found on most auto insurance policies.
Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage kick in for immediate expenses such as hospital visits, pain medications and EMT expenses. The coverages can be used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP coverage is not available in all states and may carry a deductible
Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.
Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Liability insurance – This coverage provides protection from damages or injuries you inflict on a person or their property by causing an accident. This coverage protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see policy limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.
Liability insurance covers claims like repair costs for stationary objects, emergency aid, loss of income, medical expenses and bail bonds. How much liability should you purchase? That is a personal decision, but buy as high a limit as you can afford.
Comprehensive (Other than Collision) – Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things like a tree branch falling on your vehicle, rock chips in glass and hail damage. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Collision coverage – This covers damage to your 5 Series Gran Turismo resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims like hitting a parking meter, backing into a parked car and scraping a guard rail. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Another option is to bump up the deductible to get cheaper collision coverage.
As you go through the steps to switch your coverage, make sure you don’t reduce needed coverages to save money. Too many times, an insured cut full coverage only to regret at claim time that the savings was not a smart move. Your focus should be to buy the best coverage you can find at the lowest possible cost, not the least amount of coverage.
We just presented many tips how you can compare 2015 BMW 5 Series Gran Turismo insurance premium rates online. The most important thing to understand is the more times you quote, the better likelihood of getting affordable auto insurance. You may be surprised to find that the most savings is with a small mutual company. They may cover specific market segments cheaper than the large multi-state companies such as Allstate, Geico and Progressive.
Affordable 2015 BMW 5 Series Gran Turismo insurance is possible both online and from local insurance agents, and you need to comparison shop both to have the best selection. Some companies do not provide price quotes online and most of the time these small, regional companies provide coverage only through local independent agencies.