Purchasing cheaper insurance on the internet may seem to be rather difficult for people new to comparing prices online. With dozens of insurers available, how can you have time to compare every company to locate the lowest price?
Effectively comparing insurance coverage prices can take hours if you don’t understand the most efficient way to do it. You can waste a few hours (or days) talking to insurance agencies in your area, or you could use online quotes for quick rates.
Most car insurance companies participate in an industry program that enables customers to submit one quote, and at least one company provides a quote based on that data. This prevents consumers from doing form submissions for every insurance coverage company.
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The single downside to comparing rates this way is that you can’t choose which insurance companies you want pricing from. So if you want to choose specific providers for rate comparison, we have assembled a list of insurance coverage companies in your area. Click to view list.
Compare rates however you want, just do your best to use nearly identical coverage limits for every company. If the quotes have higher or lower deductibles it will be very difficult to determine the lowest rate for your Chevy Corvette. Even a minor difference in coverages could throw off the whole comparison. And when comparing insurance coverage rates, know that comparing a wide range of rates helps you find better pricing.
Many factors are part of the calculation when you get your auto insurance bill. Some are obvious such as your driving history, but other factors are less apparent such as your marital status and annual miles driven.
The factors shown below are some of the things companies use to determine rates.
Companies offering auto insurance don’t always advertise all available discounts very well, so the list below details both well-publicized as well as some of the hidden credits that may apply to you. If you aren’t receiving every discount possible, it’s possible you qualify for a lower rate.
As a footnote on discounts, most credits do not apply the the whole policy. Most only cut specific coverage prices like comprehensive or collision. Even though it appears it’s possible to get free car insurance, companies don’t profit that way.
To see insurers offering insurance discounts, click this link.
When it comes to buying the right insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Every situation is different.
For example, these questions might point out if your situation could use an agent’s help.
If you can’t answer these questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form.
Knowing the specifics of insurance aids in choosing which coverages you need for your vehicles. Insurance terms can be impossible to understand and nobody wants to actually read their policy.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for immediate expenses for chiropractic care, dental work, doctor visits and ambulance fees. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Collision coverage – This coverage pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims like hitting a parking meter, scraping a guard rail, crashing into a ditch and crashing into a building. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to get cheaper collision coverage.
Liability coverage – This provides protection from damage or injury you incur to other’s property or people that is your fault. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 50/100/50 which stand for $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.
Liability coverage protects against claims such as loss of income, repair costs for stationary objects, legal defense fees and pain and suffering. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage provides protection when the “other guys” do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Chevy Corvette.
Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Comprehensive insurance – This coverage will pay to fix damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things like falling objects, damage from flooding, hail damage, theft and damage from getting keyed. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
The cheapest 1994 Chevy Corvette insurance is available on the web as well as from insurance agents, and you should compare price quotes from both in order to have the best chance of saving money. Some companies may not have internet price quotes and usually these smaller providers only sell through local independent agents.
Insureds who switch companies do it for many reasons like being labeled a high risk driver, high prices, high rates after DUI convictions or unfair underwriting practices. It doesn’t matter what your reason, finding a new company is less work than it seems.
When searching for cheaper car insurance quotes, don’t be tempted to reduce coverage to reduce premium. There are too many instances where someone sacrificed collision coverage and found out when filing a claim that the few dollars in savings costed them thousands. Your strategy should be to get the best coverage possible for the lowest cost, but don’t skip important coverages to save money.
Additional information is located below:
Leonila Donovan
Does Arkansas have minimum liability laws?
Chia Malone
Lots of good stuff here. Located in Juneau, AK. Got prices from Western Auto Insurance, AIG Insurance, Hartford, and Mercury for my Chevrolet and I think I saved around $20 each month. Left Eastwood to switch. Even increased my liability limits. It’s too old for full coverage.
Sharonda Chen
Nice post. From northwest of Omaha, NE. Received quotes from Amica, Farmers, and Mercury for my 1994 Chevrolet Corvette and saved just over $70 a year. I get multi-vehicle and multi-policy discounts. They have free quotes online. I think I’ll get rid of full coverage next time.
Lesley Cain
Why are claims settled so low?