Did a good deal turn into an expensive insurance coverage policy? You’re preaching to the choir because many drivers feel the same as you. People have multiple insurance companies to pick from, and even though it’s nice to be able to choose, more choices can make it harder to find the best rates for your vehicles.
Car insurance companies do not advertise every possible discount very clearly, so the following list contains both well-publicized and the more hidden discounts that you may qualify for. If you don’t get every credit you qualify for, you are paying more than you should be.
Discounts save money, but please remember that most of the big mark downs will not be given to your bottom line cost. Most only cut individual premiums such as physical damage coverage or medical payments. So even though you would think adding up those discounts means a free policy, it doesn’t quite work that way. Any amount of discount will reduce the cost of your policy.
Some of the insurance companies that may have most of the discounts above include:
When getting a coverage quote, ask each company which discounts they offer. Savings may not apply to policyholders in your area.
When choosing the right insurance coverage for your vehicles, there isn’t really a cookie cutter policy. Everyone’s situation is a little different so your insurance should reflect that These are some specific questions can aid in determining whether or not you might need professional guidance.
If you can’t answer these questions but one or more may apply to you then you might want to talk to an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of insurance coverage companies in your area. It is quick, free and can help protect your family.
Understanding the coverages of your policy can be of help when determining the right coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. These are the usual coverages available from car insurance companies.
Comprehensive coverage – This coverage covers damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like fire damage, hitting a deer, damage from flooding, rock chips in glass and damage from getting keyed. The most a car insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills for things like pain medications, EMT expenses and nursing services. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover both the driver and occupants as well as any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay
Collision coverages – Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage pays for claims such as hitting a parking meter, damaging your car on a curb, hitting a mailbox and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. It’s also possible to raise the deductible to get cheaper collision coverage.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage to your 1993 Saab 9000.
Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally these coverages are identical to your policy’s liability coverage.
Coverage for liability – This will cover damages or injuries you inflict on other’s property or people that is your fault. It protects you from claims by other people, and does not provide coverage for your injuries or vehicle damage.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Some companies may use a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage pays for things like funeral expenses, attorney fees and repair costs for stationary objects. The amount of liability coverage you purchase is up to you, but consider buying as large an amount as possible.
Some insurance providers do not offer internet price quotes and many times these smaller providers work with independent insurance agencies. Cheaper 1993 Saab 9000 insurance can be purchased online in addition to local insurance agencies, so you should be comparing quotes from both so you have a total pricing picture.
As you quote auto insurance, never sacrifice coverage to reduce premiums. In many cases, drivers have reduced full coverage to discover at claim time that the small savings ended up costing them much more. The aim is to purchase a proper amount of coverage at the best price, but don’t skip important coverages to save money.
More tips and info about insurance coverage is available by following these links: