Have you fallen victim to high-priced auto insurance? Don’t feel bad because there are lots of residents who feel the same. You have so many car insurance companies to pick from, and although it’s a good thing to have multiple companies, more choices can make it harder to get the best deal.
Choosing the best insurance company for you is not that difficult. If you have insurance now or need new coverage, you can use these tips to get lower rates and still get good coverage. Consumers just need to learn how to get comparison quotes on the web.
Buying insurance is not cheap, but there could be significant discounts that you may not even know about. A few discounts will automatically apply when you quote, but less common discounts must be specifically requested before they will apply.
You should keep in mind that some credits don’t apply to your bottom line cost. Most only reduce the price of certain insurance coverages like medical payments or collision. So even though you would think you can get free auto insurance, company stockholders wouldn’t be very happy.
A few companies that have most of these discounts may include but are not limited to:
When quoting, ask each company or agent which discounts can lower your rates. Depending on the company, some discounts might not be offered on policies in your area. If you would like to see a list of insurers that offer the discounts shown above, follow this link.
Part of the insurance coverage buying process is learning the rating factors that help determine your policy premiums. If you know what impacts premium levels, this allows you to make good choices that can earn you big savings.
When buying the right insurance coverage for your personal vehicles, there is no “best” method to buy coverage. Everyone’s situation is a little different so your insurance needs to address that. For example, these questions might point out if your insurance needs might need an agent’s assistance.
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, simply complete this short form or click here for a list of car insurance companies in your area. It only takes a few minutes and can help protect your family.
Understanding the coverages of your insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverage types found on the average insurance policy.
This pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like crashing into a building, damaging your car on a curb, colliding with a tree and backing into a parked car. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. It’s also possible to raise the deductible to bring the cost down.
Liability car insurance
Liability insurance protects you from damages or injuries you inflict on other’s property or people that is your fault. This coverage protects you from claims by other people, and does not provide coverage for your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 50/100/50 which means $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property.
Liability coverage pays for claims such as pain and suffering, attorney fees and repair costs for stationary objects. How much liability coverage do you need? That is up to you, but it’s cheap coverage so purchase higher limits if possible.
Protection from uninsured/underinsured drivers
This coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.
Comprehensive (Other than Collision)
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like hitting a bird, rock chips in glass and a broken windshield. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Medical expense insurance
Coverage for medical payments and/or PIP pay for immediate expenses like prosthetic devices, X-ray expenses, rehabilitation expenses, nursing services and doctor visits. They are often utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants as well as being hit by a car walking across the street. Personal Injury Protection is only offered in select states and may carry a deductible
As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. In many cases, consumers will sacrifice physical damage coverage and learned later that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy the best coverage you can find for the lowest cost while still protecting your assets.
Budget-friendly insurance coverage is attainable from both online companies and with local insurance agents, and you should compare rates from both so you have a total pricing picture. Some insurance providers don’t offer rate quotes online and these small, regional companies prefer to sell through local independent agencies.
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