Have you fallen victim to an overpriced auto insurance policy? It’s quite common and there are a lot of people just like you who feel imprisoned by their auto insurance policy.
Companies like Allstate and Progressive continually bombard you with advertising and it can be hard to ignore the propoganda and find the best price available.
If you are paying for car insurance now, you should be able to reduce your rates substantially using this strategy. Choosing the best insurance company for you is not that difficult. But car owners need to learn the way companies market insurance on the web because it can help you find the best coverage.
There are a lot of ways to shop for insurance coverage, but there is one way that is less labor-intensive and much quicker. You could waste time discussing policy coverages with insurance companies in your area, or you could use online quotes to get the quickest rates.
Many insurance companies enroll in a system where prospective buyers submit one quote, and each company returns a rated price for coverage. This saves time by eliminating quote forms to every company. To access this free quoting program, click here (opens in new window).
The single downside to comparing rates this way is you don’t know exactly which insurance companies to get quotes from. If you wish to select specific insurance companies for rate comparison, we have assembled a list of companies who write insurance coverage in your area. Click here for list of insurance companies.
You can use whichever method you prefer to find lower rates, just make sure you compare the exact same deductibles and coverage limits on every price quote you get. If the quotes have unequal deductibles or liability limits you can’t possibly determine which company has the best rates. Even a minor difference in coverage limits could throw off the whole comparison. Keep in mind that comparing all the rates in your area increases your odds of finding the best price. Some regional insurers cannot provide prices over the internet, so you need to compare prices on coverage from those companies, too.
Car insurance companies do not list their entire list of discounts in an easy-to-find place, so the list below contains some of the more common as well as the least known discounts that you may qualify for.
As a disclaimer on discounts, most discounts do not apply to the overall cost of the policy. Most only reduce individual premiums such as comp or med pay. If you do the math and it seems like you can get free auto insurance, companies wouldn’t make money that way. Any amount of discount will help lower your policy cost.
Large car insurance companies and their offered discounts can be read below.
If you need inexpensive insurance quotes, ask every company how many discounts you can get. All car insurance discounts might not be available to policyholders in your area.
When it comes to choosing proper insurance coverage, there really is not a “best” method to buy coverage. Everyone’s needs are different and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight whether your personal situation might need professional guidance.
If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area.
Having a good grasp of insurance helps when choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be confusing and reading a policy is terribly boring. These are typical coverages found on most insurance policies.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family.
Collision – This will pay to fix damage to your Versa from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision insurance covers claims such as colliding with another moving vehicle, hitting a parking meter, sideswiping another vehicle, crashing into a building and rolling your car. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to increase the deductible in order to get cheaper collision rates.
Liability car insurance – Liability coverage can cover damage that occurs to other people or property. This insurance protects YOU from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.
Liability insurance covers claims such as funeral expenses, repair bills for other people’s vehicles, legal defense fees and emergency aid. The amount of liability coverage you purchase is your choice, but consider buying higher limits if possible.
Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage kick in for expenses for things like nursing services, hospital visits, dental work, X-ray expenses and rehabilitation expenses. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Comprehensive insurance – Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like a tree branch falling on your vehicle, hitting a bird, vandalism and damage from flooding. The maximum amount a insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.