Shopping for the cheapest insurance coverage is rather challenging for vehicle owners who are new to comparing and buying insurance coverage over the internet. With so many agents and insurance companies available, how can vehicle owners possibly compare each option to find the lowest price?
Lots of factors are taken into consideration when you get your auto insurance bill. Most are fairly basic like an MVR report, but other criteria are more transparent like your continuous coverage or how financially stable you are.
Listed below are a few of the “ingredients” used by insurance companies to determine rates.
Insuring your vehicles can cost a lot, but you might find some hidden discounts that could drop your premiums quite a bit. Some trigger automatically at quote time, but less common discounts must be manually applied in order for you to get them.
Consumers should know that most discounts do not apply to the entire policy premium. Some only apply to individual premiums such as liability and collision coverage. So even though it sounds like you can get free auto insurance, companies don’t profit that way.
A list of car insurance companies and the discounts they provide include:
Before you buy a policy, ask every prospective company to apply every possible discount. Discounts may not apply to policies in your state. To see a list of insurance companies that offer the discounts shown above, click here to view.
When it comes to choosing proper insurance coverage, there really is not a perfect coverage plan. Everyone’s needs are different.
Here are some questions about coverages that can help discover whether your personal situation could use an agent’s help.
If you’re not sure about those questions but a few of them apply, you might consider talking to an agent. If you want to speak to an agent in your area, take a second and complete this form.
Understanding the coverages of car insurance can help you determine the best coverages for your vehicles. The terms used in a policy can be confusing and reading a policy is terribly boring.
Auto liability insurance – This will cover damage that occurs to a person or their property that is your fault. This coverage protects you from claims by other people. It does not cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 50/100/50 which means a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a limit of $50,000 paid for damaged property. Another option is a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability can pay for things such as court costs, repair bills for other people’s vehicles, emergency aid and medical expenses. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase higher limits if possible.
Comprehensive insurance – This coverage covers damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things like falling objects, vandalism, hitting a bird, rock chips in glass and a broken windshield. The maximum payout a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist (UM/UIM) – This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your Volvo S40.
Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Frequently these coverages do not exceed the liability coverage limits.
Collision coverages – This coverage will pay to fix damage to your S40 caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as driving through your garage door, sideswiping another vehicle, backing into a parked car and crashing into a building. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. You can also bump up the deductible to get cheaper collision coverage.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for immediate expenses like prosthetic devices, chiropractic care and hospital visits. They are used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Cheaper 2001 Volvo S40 insurance can be purchased both online and from local agencies, so you should compare both in order to have the best chance of saving money. There are still a few companies who may not have rate quotes online and many times these regional carriers work with independent insurance agents.
When getting car insurance quotes online, never buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed comprehensive coverage or liability limits only to find out that their decision to reduce coverage ended up costing them more. The goal is to buy a smart amount of coverage at the best cost, not the least amount of coverage.
We just presented a lot of information how to compare 2001 Volvo S40 insurance rates online. The key thing to remember is the more price quotes you have, the higher the chance of saving money. You may even discover the lowest rates are with some of the smallest insurance companies.
Additional car insurance information is available on the following sites: