Want lower insurance rates for your Ford Five Hundred? Are you kicking yourself for buying an underperforming, overpriced insurance policy? Don’t sweat it because many consumers are feeling buyer’s remorse and feel like there’s no way out.
Vehicle owners have many insurers to buy insurance from, and even though it’s nice to have a selection, it can be more challenging to get the best deal.
Part of the auto insurance buying process is learning some of the factors that help determine the level of your policy premiums. If you have some idea of what determines premiums, this allows you to make educated decisions that could help you find better auto insurance rates.
Not too many consumers would say car insurance is affordable, but there may be some discounts that many consumers don’t even know exist. Larger premium reductions will be automatically applied at the time of quoting, but a few need to be inquired about before they will apply.
Discounts save money, but please remember that some credits don’t apply to your bottom line cost. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. So even though you would think you can get free auto insurance, it doesn’t quite work that way.
Larger car insurance companies and a partial list of their discounts are included below.
It’s a good idea to ask each insurance company to apply every possible discount. Some of the discounts discussed earlier might not be offered on policies in your area. If you would like to see a list of insurers who offer car insurance discounts, follow this link.
When choosing the right insurance coverage, there really is no one size fits all plan. Every insured’s situation is different so this has to be addressed. For instance, these questions can aid in determining if you would benefit from professional advice.
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier
Having a good grasp of a insurance policy helps when choosing which coverages you need for your vehicles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by insurance companies.
Liability coverages – Liability coverage provides protection from damage or injury you incur to other’s property or people. It protects you against other people’s claims, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 50/100/50 that translate to $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers things such as medical services, legal defense fees, loss of income, structural damage and repair costs for stationary objects. How much coverage you buy is a decision to put some thought into, but consider buying higher limits if possible.
Protection from uninsured/underinsured drivers – Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. Covered claims include medical payments for you and your occupants and damage to your Ford Five Hundred.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Normally these limits are identical to your policy’s liability coverage.
Collision – This coverage pays for damage to your Five Hundred resulting from colliding with an object or car. A deductible applies and then insurance will cover the remainder.
Collision coverage pays for claims such as colliding with another moving vehicle, rolling your car, scraping a guard rail and backing into a parked car. This coverage can be expensive, so you might think about dropping it from vehicles that are older. You can also bump up the deductible to get cheaper collision coverage.
Comprehensive (Other than Collision) – Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as hail damage, damage from a tornado or hurricane, hitting a bird, hitting a deer and vandalism. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Medical expense insurance – Med pay and PIP coverage kick in for expenses for things like doctor visits, dental work, pain medications and rehabilitation expenses. They are often used to cover expenses not covered by your health insurance program or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay
As you restructure your insurance plan, it’s a bad idea to buy less coverage just to save a little money. There have been many cases where drivers have reduced full coverage only to find out they didn’t purchase enough coverage. Your aim should be to find the BEST coverage at the best cost, but don’t skip important coverages to save money.
We just covered many ideas to get a better price on 2007 Ford Five Hundred insurance. The key concept to understand is the more you quote car insurance, the better chance you’ll have of finding inexpensive car insurance. You may be surprised to find that the best rates are with a lesser-known regional company. They may only write in your state and offer lower car insurance rates as compared to the big name companies such as Allstate and Progressive.
Additional information is located at the links below