Are you kicking yourself for buying high-priced car insurance? Say no more because many consumers feel financially strained by their car insurance policy.
Due to the increasing number of companies and agents to choose from, it can be impossible to find a lower cost car insurance company.
It’s a good habit to do rate comparisons quite often because car insurance prices are usually higher with each renewal. Even if you think you had the lowest price on Viper coverage two years ago you may be paying too much now. Block out anything you think you know about car insurance because you’re about to find out how to use the internet to find the best coverage while lowering your premiums.
Buying car insurance is not that difficult. In a nutshell, every driver who is required by state law to have insurance will be able to find better rates. Although drivers must understand how companies price online insurance and apply this information to your search.
Many factors are used when quoting car insurance. Some of the criteria are obvious such as traffic violations, but others are more transparent such as whether you are married or your vehicle rating.
Performing a rate comparison can be a lot of work if you don’t utilize the fastest way to get free quotes. You can spend countless hours talking to insurance companies in your area, or you can utilize online quotes to achieve your goal.
Many popular insurance companies participate in a marketplace that enables customers to complete one form, and each participating company then gives them pricing determined by their information. This saves time by eliminating quote forms for every car insurance company.
To find out how much you can save on car insurance click here to open in new window.
The only downside to using this type of system is you are unable to specify which carriers to get quotes from. If you would rather choose from a list of companies for rate comparison, we have assembled a list of the cheapest car insurance companies in your area. Click here for list of insurance companies.
Whichever way you choose to compare rates, try to use apples-to-apples quote data for each quote you get. If each company quotes different limits and deductibles on each one it will be next to impossible to decipher which rate is best. Slightly different insurance coverages or limits can mean a large discrepancy in price. And when price shopping your coverage, comparing more quotes provides better odds of finding a lower rate than you’re paying now.
Companies like State Farm and Allstate continually stream ads on TV and radio. They all make the same claim that you’ll save big just by moving your coverage. How does every auto insurance company sell you cheaper insurance coverage? This is the way they can do it.
Many companies have specific criteria for the type of insured that earns them a profit. For example, a desirable insured could be between the ages of 40 and 55, has a low-risk occupation, and drives a safe vehicle. Any person who meets those qualifications may get the lowest premium rates and is almost guaranteed to save when they switch companies.
People who are not a match for these standards will probably have to pay a higher premium and ends up with business not being written. The ads say “drivers that switch” not “everyone who quotes” save the amount stated. That is how insurance companies can claim big savings. This really illustrates why it’s extremely important to compare many company’s car insurance rates. It’s not possible to predict which auto insurance company will provide the lowest rates.
Some insurers do not advertise every policy discount in a way that’s easy to find, so the list below gives a summary of a few of the more common and the harder-to-find credits that you can use to lower your rates. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.
It’s important to note that most credits do not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as collision or personal injury protection. Despite the fact that it seems like all the discounts add up to a free policy, it just doesn’t work that way. But any discount should definitely cut the premium cost.
To see a list of companies that offer many of these discounts, follow this link.
When it comes to buying proper insurance coverage, there is no single plan that fits everyone. Your needs are not the same as everyone else’s and your policy should reflect that. For instance, these questions may help you determine whether or not you may require specific advice.
If you can’t answer these questions but you know they apply to you, you might consider talking to a licensed agent. If you don’t have a local agent, simply complete this short form or you can also visit this page to select a carrier
Knowing the specifics of your policy can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Shown next are typical coverage types available from insurance companies.
Liability coverage protects you from damage or injury you incur to other’s property or people in an accident. It protects YOU against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 100/300/100 that means you have $100,000 bodily injury coverage, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.
Liability coverage protects against claims such as pain and suffering, emergency aid, legal defense fees, bail bonds and loss of income. How much liability should you purchase? That is up to you, but consider buying higher limits if possible.
Insurance for medical payments
Med pay and PIP coverage reimburse you for short-term medical expenses for things like X-ray expenses, nursing services, rehabilitation expenses and dental work. They are used in conjunction with a health insurance plan or if you are not covered by health insurance. It covers both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay
Collision coverage covers damage to your Viper caused by collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against things such as hitting a parking meter, sideswiping another vehicle, colliding with another moving vehicle, crashing into a building and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to raise the deductible to save money on collision insurance.
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Dodge Viper.
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 a good idea.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims such as theft, hitting a bird and hail damage. The most a insurance company will pay at claim time 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.
We just showed you some good ideas how to lower your 1995 Dodge Viper insurance premium rates. The key thing to remember is the more quotes you get, the more likely it is that you will get a better rate. You may even find the best price on insurance is with a company that doesn’t do a lot of advertising. Smaller companies can often insure niche markets at a lower cost than their larger competitors like Allstate, GEICO and Progressive.
When getting auto insurance quotes online, do not skimp on critical coverages to save a buck or two. There are many occasions where an insured cut liability coverage limits only to discover later that the small savings ended up costing them much more. Your objective should be to buy enough coverage for the lowest cost but still have enough coverage for asset protection.