Sick and tired of scraping nickels together to pay insurance each month? You are in the same boat as most other vehicle owners. Due to the abundance of choices of insurance companies, it’s nearly impossible to pick the best company.
Insurance coverage is not an enjoyable expense, but you might find some hidden discounts that many consumers don’t even know exist. Larger premium reductions will be automatically applied when you complete an application, but some need to be inquired about before you get the savings.
As a sidenote, some of the credits will not apply to your bottom line cost. Most only apply to individual premiums such as collision or personal injury protection. Despite the appearance that having all the discounts means you get insurance for free, that’s just not realistic.
If you would like to view companies who offer discounts, click here.
It’s important that you understand the rating factors that are used to determine insurance coverage rates. If you have some idea of what influences your rates, this enables informed choices that could result in lower rates.
When choosing the best insurance coverage coverage, there really is not a best way to insure your cars. Everyone’s situation is unique so your insurance needs to address that. Here are some questions about coverages that may help highlight whether your personal situation might need an agent’s assistance.
If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and can provide invaluable advice.
Consumers can’t ignore all the ads that claim the best prices by companies like State Farm, Geico and Progressive. They all seem to tend to make the same promise about savings if you move your policy.
How can each company cost less than your current company? This is how they do it.
Companies provide the lowest rates for the driver that earns them the most money. For instance, a desirable risk may need to be between 25 and 40, has no prior claims, and insures a new vehicle. Anybody who matches those parameters will probably get cheap premium rates and will most likely pay quite a bit less when switching companies.
Potential insureds who cannot meet the “perfect” profile will get a higher premium which results in the driver buying from a lower-cost company. The ads say “people who switch” not “everyone that quotes” save money. That’s why companies can advertise the way they do.
This really illustrates why you really need to quote coverage with many companies. It is just not possible to predict which company will give you the biggest savings.
Understanding the coverages of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and coverage can change by endorsement. These are the usual coverages found on the average auto insurance policy.
This coverage can cover injuries or damage you cause to other’s property or people in an accident. It protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Some companies may use one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage pays for things like emergency aid, attorney fees, medical services, legal defense fees and medical expenses. The amount of liability coverage you purchase is a personal decision, but you should buy as much as you can afford.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Buick LeSabre.
Due to the fact that many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently these limits are similar to your liability insurance amounts.
This pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things such as colliding with another moving vehicle, damaging your car on a curb, crashing into a building and colliding with a tree. This coverage can be expensive, so consider dropping it from lower value vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.
This pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims such as hitting a bird, hitting a deer and damage from flooding. The maximum payout a auto insurance company will pay at claim time is the actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP pay for expenses such as EMT expenses, rehabilitation expenses and dental work. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. Coverage applies to all vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
More affordable insurance can be found on the web and also from your neighborhood agents, so you need to shop insurance with both to get a complete price analysis. A few companies may not offer the ability to get a quote online and these regional carriers only sell through independent agencies.
While you’re price shopping online, never reduce coverage to reduce premium. Too many times, someone sacrificed liability limits or collision coverage only to find out that the small savings ended up costing them much more. Your aim should be to buy the best coverage you can find at the lowest possible cost, not the least amount of coverage.
We covered a lot of tips how to lower your 1996 Buick LeSabre insurance prices. The key thing to remember is the more companies you get rates for, the better your comparison will be. Consumers may even find the best prices are with a smaller regional carrier. These smaller insurers may cover specific market segments cheaper as compared to the big name companies such as Progressive and Geico.
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