Are you drained from not being able to afford to insure your Tesla every month? Your situation is no different than the majority of other people.
There is such a variety of auto insurance companies to purchase coverage from, and although it’s a good thing to be able to choose, it makes it harder to compare rates and cut insurance costs.
It’s a great practice to get comparison quotes as often as possible since prices are adjusted regularly by insurance companies. Even if you got the best quotes on Roadster insurance a couple years back the chances are good that you can find a lower rate today. Forget all the misinformation about insurance because you’re going to get a crash course in the proper way to find better rates and still maintain coverage.
This article will let you in on the best way to quote coverages and some tips to save money. If you have car insurance now, you stand a good chance to be able to cut costs considerably using these methods. Nevertheless, drivers need to learn the methods companies use to compete online.
There are multiple methods to compare insurance quotes, but one way is easier and takes less work. You can waste a few hours (or days) driving to agents in your area, or you could save time and use online quoting to accomplish the same thing much quicker.
All the larger companies belong to an insurance system that allows shoppers to send in one quote, and at least one company can give them a price. This prevents consumers from doing quotation requests to every company.
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The single downside to using this type of form is you are unable to specify which providers to receive prices from. If you prefer to choose specific providers to request quotes from, we have a page of insurance companies in your area. Click here to view list.
You can use whichever method you prefer to find lower rates, just be certain you are entering exactly the same coverage data for each price quote. If you use differing limits you will not be able to decipher which rate is best. Having just a slight variation in insurance coverages or limits may result in large price differences. Just keep in mind that having more price comparisons provides better odds of finding better pricing. Some companies don’t provide online quotes, so you should also compare price estimates from them as well.
Auto insurance companies don’t list every possible discount very clearly, so the list below gives a summary of a few of the more common and the harder-to-find credits available to you.
As a sidenote, most discount credits are not given the the whole policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. If you do the math and it seems like it’s possible to get free car insurance, insurance coverage companies aren’t that generous.
A few popular companies and a partial list of their discounts are included below.
If you are trying to find cheaper auto insurance quotes, ask every prospective company to give you their best rates. Some credits may not apply to policies in your area. To see insurers with the best insurance coverage discounts, click this link.
When buying adequate coverage, there really is no cookie cutter policy. Everyone’s situation is unique and a cookie cutter policy won’t apply. For instance, these questions may help you determine whether or not you may require specific advice.
If it’s difficult to answer those questions but you know they apply to you, you might consider talking to a licensed agent. To find lower rates from a local agent, fill out this quick form or you can also visit this page to select a carrier
Lots of factors are considered when premium rates are determined. Some factors are common sense such as traffic violations, but some are more transparent such as whether you are married or your vehicle rating.
Knowing the specifics of your policy can be of help when determining the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement. Below you’ll find typical coverages found on the average car insurance policy.
Auto liability insurance – This coverage protects you from damage that occurs to a person or their property in an accident. It protects you against claims from other people, and does not provide coverage for damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 100/300/100 which means a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Occasionally you may see one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against claims such as legal defense fees, funeral expenses and repair costs for stationary objects. The amount of liability coverage you purchase is a personal decision, but consider buying as large an amount as possible.
Collision – This coverage pays for damage to your Roadster resulting from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things such as sideswiping another vehicle, colliding with a tree, crashing into a ditch and crashing into a building. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.
UM/UIM Coverage – This coverage provides protection when other motorists either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as damage to your Tesla Roadster.
Because many people have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally these coverages are similar to your liability insurance amounts.
Comprehensive or Other Than Collision – Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things such as theft, vandalism, damage from getting keyed and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Medical costs insurance – Medical payments and Personal Injury Protection insurance kick in for bills for rehabilitation expenses, hospital visits and chiropractic care. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants as well as being hit by a car walking across the street. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Lower-priced 2008 Tesla Roadster insurance is possible on the web as well as from independent agents, so you need to shop auto insurance with both to have the best rate selection. There are still a few companies who do not offer rates over the internet and usually these regional insurance providers provide coverage only through local independent agencies.
As you prepare to switch companies, you should never skimp on critical coverages to save a buck or two. Too many times, an insured cut collision coverage only to regret at claim time that it was a big mistake. The goal is to find the BEST coverage at a price you can afford but still have enough coverage for asset protection.
Additional insurance coverage information can be read at these links: