Did you make the mistake of buying high-priced insurance? Believe me when I say you’re not alone.
Since you have so many insurance companies to choose from, it is hard for the average consumer to locate the most cost effective insurer.
It is always a good idea to price shop coverage periodically since rates trend upward over time. Even if you think you had the lowest rate on SSR coverage a few years ago a different company probably has better prices today. You can find a lot of information about insurance out there, but in a few minutes you can learn the easiest ways to lower your insurance premiums.
Car insurance is not cheap, but there could be significant discounts to help bring down the price. Certain discounts will be applied at the time of quoting, but a few need to be manually applied before they will apply. If you do not double check each discount possible, you are not getting the best rate possible.
Consumers should know that most of the big mark downs will not be given to the entire cost. Most cut specific coverage prices like liability, collision or medical payments. So when it seems like all those discounts means the company will pay you, it’s just not the way it works.
To see companies that can offer you the previously mentioned discounts, click this link.
Consumers need to have an understanding of the factors that go into determining your insurance rates. When consumers understand what positively or negatively impacts your premiums, this allows you to make educated decisions that will entitle you to big savings. Many factors are part of the calculation when you get your auto insurance bill. Some are pretty understandable such as your driving history, although some other factors are not quite as obvious like your continuous coverage or your vehicle rating.
When buying coverage, there is no single plan that fits everyone. Everyone’s needs are different and a cookie cutter policy won’t apply. Here are some questions about coverages that might help in determining whether your personal situation might need an agent’s assistance.
If you don’t know the answers to these questions but you know they apply to you then you might want to talk to an agent. To find an agent in your area, complete this form or click here for a list of insurance coverage companies in your area.
Knowing the specifics of car insurance can be of help when determining the best coverages for your vehicles. Policy terminology can be difficult to understand and coverage can change by endorsement. Listed below are the usual coverages offered by car insurance companies.
Comprehensive or Other Than Collision – This pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like damage from a tornado or hurricane, rock chips in glass, hail damage and a tree branch falling on your vehicle. The highest amount your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Collision coverage – This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for claims like hitting a parking meter, backing into a parked car, driving through your garage door and hitting a mailbox. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. Drivers also have the option to increase the deductible to save money on collision insurance.
Medical costs insurance – Medical payments and Personal Injury Protection insurance provide coverage for expenses for EMT expenses, rehabilitation expenses and dental work. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. They cover both the driver and occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage
UM/UIM Coverage – This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and also any damage incurred to your 2004 Chevy SSR.
Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.
Liability coverage – Liability insurance can cover damage or injury you incur to a person or their property that is your fault. It protects YOU against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property.
Liability insurance covers things like repair bills for other people’s vehicles, loss of income 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 much as you can afford.
While you’re price shopping online, you should never reduce needed coverages to save money. There are many occasions where an insured dropped liability coverage limits only to regret that the few dollars in savings costed them thousands. The goal is to get the best coverage possible at a price you can afford, but do not sacrifice coverage to save money.
Some car insurance companies may not have online quoting and these smaller providers only sell through independent agents. Lower-priced car insurance can be bought from both online companies as well as from insurance agents, and you need to comparison shop both in order to have the best price selection to choose from.
Additional car insurance information is available at the links below
Dora Head
Why are claims settled so low?
Daine Cardenas
Corporate greed I’m telling you. I live in Rockford, IL. Quoted a bunch of companies. Saved right around $30 a month. GEICO was the cheapest for me. Left Hartford to switch. I have kids on my policy, too. They offer free online rate quotes. Book value doesn’t justify full coverage anymore.
Quyen Sampson
Just my two cents. I live just to the east of North Charleston, SC. Quoted with Progressive, GMAC, and Farmers for my 2004 Chevrolet SSR and saved about $90 a year. It’s only liability tho.
Lori Ayala
Nice info. I’m from Greensboro, NC. Received quotes with Auto-Owners, MetLife, and a few others for my Chevrolet and saved just over $70 a year. Insured with Western Auto Insurance before. Just waiting to see how claims go. I dropped full coverage awhile back.
Ngan Navarro
I can’t pay high rates. I live just outside Birmingham, AL. Received quotes with Liberty Mutual, Amica, MetLife, and a couple others for my 2004 Chevrolet SSR and saved $93 a year. Left Esurance to switch. LOL
Talisha Berg
Good detail in your article. From south side of New York City, NY. Don’t remember every company but I ended up saving about $20 each month. Not sure if rates are cheaper online or through an agent.
Garry Davis
Where is cheaper car insurance? I live north of Grand Rapids, MI. Received quotes from American Family, Mercury, and some smaller one I can’t remember the name of for my SSR and saved just over $80 a year. Was with The General. Are quotes cheaper online?
Verna Gates
I think I’m paying too much. I live just outside Idaho Falls, ID. Compared rates from a lot of places. Saved darn near $30 a month. Allstate was the cheapest for me.
Bernadette Lancaster
Is GEICO or Allstate cheaper in Jackson, Mississippi?
Ok Alvarado
From Rochester, NY. Received prices from Auto-Owners, MetLife, and some smaller one I can’t remember the name of for my 2004 Chevrolet SSR and saved $61 a year. Left Hanover to switch. I used their website to get prices.
Lorraine Tillman
I found pretty cheap rate quotes for a 2004 Chevrolet SSR in Dallas, TX. Ended up at roughly $80 every six months with AIG Insurance. Insured with Sentry before. Moved home policy as well. I don’t put full coverage on it.
Joan Vance
Went with Travelers for my SSR and cut my rates about $100 a year. Left Esurance to switch. I recommend comparing lots of rates. Anyone else drop full coverage?
Denis Fulton
I’m looking for cheaper coverage. Found cheapest coverage with Mercury for my SSR and saved around $90 a year. Have a couple speeding tickets too. When should I drop full coverage?
Shawanna Wagner
State Farm is cheapest in Kansas! :)