Lower Your 2002 Mitsubishi Lancer Insurance Cost

High-priced auto insurance can bottom out your bank account and maybe even restrict other spending.

People have multiple auto insurance companies to pick from, and though it is a good thing to have a choice, lots of choices makes it harder to compare company pricing.

Consumers need to compare premium rates yearly due to the fact that insurance prices trend upward over time. Just because you had the lowest price for Lancer coverage on your last policy you will most likely find a better rate today. Forget all the misinformation about auto insurance because we’re going to demonstrate the tricks you need to know to find better coverage at a better price.

How to get car insurance quotes

To find cheaper prices, there are a couple of ways to compare rate quotes from lots of car insurance companies. The easiest way by far to find competitive Mitsubishi Lancer insurance rates consists of obtaining rate quotes online. This is quite simple and can be completed in several different ways.

• Probably the best way consumers can analyze rates would be an industry-wide quote request form (click to open form in new window). This easy form saves time by eliminating separate quote forms to each individual car insurance company. Completing one form will return quotes from all major companies.
• A more time consuming way to analyze rates requires you to visit each individual company website and repeat the quote process. For sake of this example, let’s assume you want to compare prices for Auto-Owners, Safeco and Geico. To do that, you would have to go to every website to input your insurance information, which can take a lot of time.

  For a handy list of car insurance company links in your area, click here.

• If you have time to kill, the last method to compare rates is making phone calls or going to and from local insurance agencies. The ability to get quotes online eliminates the need for an insurance agent unless you have a complicated situation and need the trained guidance of a local agent. However, consumers can compare the best prices online but have a local agent actually write the policy.

However you get your quotes, do your best to enter exactly the same coverages on every quote you get. If you have mixed coverages you will not be able to truly determine the lowest rate. Having just a slight variation in coverages can result in a big premium difference. And when price shopping your coverage, more quotes will increase your chances of finding the best offered rates.

Lower-cost insurance coverage rates with discounts

Auto insurance companies don’t always advertise the entire discount list very clearly, so we break down both the well known as well as the least known discounts that you may qualify for.

• Student in College – Youth drivers who live away from home at college and do not have a car can be insured at a reduced rate.
• Full Payment Discount – By paying your entire bill at once rather than spreading payments over time you can actually save on your bill.
• Good Driver Discount – Drivers without accidents may save up to 50% more for Lancer coverage than less cautious drivers.
• Defensive Driving Course – Taking a defensive driving course could cut 5% off your bill and make you a better driver.
• Mature Driver Discount – Seniors can possibly qualify for a small decrease in premiums for Lancer coverage.
• Discount for New Cars – Buying insurance coverage coverage on a new vehicle may earn a small discount compared to insuring an older model.
• Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use a seat belt can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
• Government Employee Discount – Being employed by or retired from a federal job may reduce rates when you quote car insurance for Lancer coverage with some insurance coverage companies.

As a disclaimer on discounts, most discounts do not apply to the overall cost of the policy. Most only cut individual premiums such as comp or med pay. Even though the math looks like it’s possible to get free car insurance, companies wouldn’t make money that way.

Insurance companies that may offer quotes with some of the above discounts include:

• State Farm
• Geico
• Progressive
• 21st Century
• American Family
• The Hartford
• AAA

When comparing rates, check with all companies you are considering what discounts are available to you. Some discounts may not apply in every state. If you would like to see a list of insurance coverage companies that provide some of the discounts listed above, click here.

Tailor your insurance coverage coverage to you

When buying proper insurance coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Your needs are not the same as everyone else’s so this has to be addressed. For example, these questions may help highlight whether your personal situation will benefit from professional help.

• How can I get high-risk coverage after a DUI?
• Are split liability limits better than a combined single limit?
• Does my insurance cover my expensive audio equipment?
• What are the financial responsibility laws in my state?
• When should I drop full coverage on my 2002 Mitsubishi Lancer?
• Do I need motorclub coverage?
• Do I need an umbrella policy?
• Is my cargo covered for damage or theft?

If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with a licensed agent. If you want to speak to an agent in your area, take a second and complete this form or you can also visit this page to select a carrier

Specifics of your auto insurance policy

Knowing the specifics of your auto insurance policy helps when choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. Listed below are the normal coverages offered by auto insurance companies.

Comprehensive insurance – This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers claims like a broken windshield, damage from getting keyed and rock chips in glass. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle’s occupants from other drivers when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants as well as damage to your Mitsubishi Lancer.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.

Auto liability – Liability coverage can cover injuries or damage you cause to other people or property. It protects you against other people’s claims. It does not cover your injuries or vehicle damage.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 50/100/50 which stand for a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.

Liability coverage pays for claims like legal defense fees, repair bills for other people’s vehicles and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford.

Collision coverage – This covers damage to your Lancer caused by collision with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.

Collision coverage pays for claims such as damaging your car on a curb, hitting a mailbox, sustaining damage from a pot hole and crashing into a ditch. This coverage can be expensive, so you might think about dropping it from vehicles that are older. You can also choose a higher deductible in order to get cheaper collision rates.

Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses for things like rehabilitation expenses, prosthetic devices, ambulance fees, hospital visits and dental work. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage

Don’t break the bank

When getting car insurance quotes online, never buy less coverage just to save a little money. There are many occasions where an accident victim reduced physical damage coverage only to find out they didn’t have enough coverage. Your objective should be to get the best coverage possible at the best possible price but still have enough coverage for asset protection.

You just learned quite a bit of information on how to get a better price on 2002 Mitsubishi Lancer insurance. The most important thing to understand is the more companies you get car insurance rates for, the better likelihood of getting low cost car insurance. Drivers may discover the lowest rates are with the smaller companies. Regional companies often have lower car insurance rates on specific markets than the large multi-state companies such as State Farm and Allstate.

Cost effective 2002 Mitsubishi Lancer insurance can be sourced on the web as well as from insurance agents, and you should compare price quotes from both to have the best rate selection. Some insurance companies do not provide online quoting and these regional insurance providers sell through local independent agencies.

More detailed insurance information is located in these articles:

• State Laws for Cellphones and Texting (iihs.org)
• Car Insurance for Teen Drivers with Divorced Parents (Allstate)
• Should I Purchase an Umbrella Liability Policy? (Insurance Information Insitute)
• Teen Driver Statistics (Insurance Information Insitute)
• Tools for Teen Driving Safety (State Farm)
• How to Avoid Buying a Flooded Car (Insurance Information Insitute)