High-priced car insurance can eat up your monthly budget and force you to tighten up your finances. Doing a rate analysis is recommended to cut your insurance bill.
Consumers have so many auto insurance companies to insure vehicles with, and even though it’s nice to have multiple companies, it makes it harder to find the lowest cost provider.
It’s important to shop coverage around before your policy renews because car insurance rates are usually higher with each renewal. Even if you think you had the lowest rate for Five Hundred coverage six months ago a different company probably has better prices today. You can find a lot of misleading information regarding car insurance on the web, but in a few minutes you can learn some solid techniques on how to lower your car insurance premiums.
Some insurance providers don’t necessarily list every policy discount in a way that’s easy to find, so below is a list some of the more common and the harder-to-find credits available to you.
A quick disclaimer, most discount credits are not given to your bottom line cost. The majority will only reduce specific coverage prices like collision or personal injury protection. Just because you may think it’s possible to get free car insurance, that’s just not realistic. Any amount of discount will bring down your overall premium however.
Some of the insurance companies that possibly offer some of the above discounts include:
When getting free insurance coverage quotes, it’s a good idea to all the companies to give you their best rates. Some of the discounts discussed earlier may not apply in your area. If you would like to see a list of companies that offer many of these discounts, follow this link.
There are a lot of ways to compare insurance prices but some are less labor-intensive and much quicker. You could waste a few hours discussing policy coverages with agents in your area, or you could use the internet to maximize your effort.
The majority of car insurance companies participate in a marketplace where insurance shoppers submit their information once, and each participating company then returns a price quote for coverage. This system prevents you from having to do form submissions for each company.
To participate in this free quote system, click here to start a free quote.
The one downside to using this type of system is you can’t choose which companies you want to price. If you prefer to choose specific providers for rate comparison, we have a listing of companies who write insurance in your area. Click to view list.
The method you choose is up to you, but make darn sure you compare equivalent deductibles and coverage limits with every price quote. If you compare mixed coverages it’s impossible to determine the best price for your Ford Five Hundred.
Many factors are used when quoting car insurance. A few of the factors are predictable like a motor vehicle report, but others are not as apparent like your vehicle usage or your vehicle rating.
The items below are some of the things utilized by car insurance companies to help set your premiums.
When choosing coverage for your personal vehicles, there isn’t really a perfect coverage plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For example, these questions might help in determining if your situation might need an agent’s assistance.
If you can’t answer these questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, simply complete this short form or click here for a list of auto insurance companies in your area. It is quick, free and you can get the answers you need.
Consumers get pounded daily by advertisements that claim the lowest premium rates from companies such as Allstate, GEICO and Progressive. All the ads make an identical promise that people will save after switching your policy.
How do they all cost less than your current company?
Insurance providers quote their best rates for the right customer that earns them the highest profit. For instance, a profitable customer should be between 25 and 40, has a low-risk occupation, and has a short commute. A driver who fits those characteristics will get a cheap rate quote and is almost guaranteed to save when switching.
Insureds who may not quite match those criteria will be quoted higher premium rates which translates to business going elsewhere. The ads say “people who switch” not “everyone who quotes” will save that much if they switch. This is how companies can truthfully advertise the way they do. Because of these techniques, you really need to quote coverage with many companies. Because you never know which company will have the best premium rates for your profile.
Having a good grasp of car insurance can be of help when determining the best coverages and proper limits and deductibles. Car insurance terms can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find the usual coverages available from car insurance companies.
Collision coverages – Collision insurance covers damage to your Five Hundred resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like hitting a parking meter, colliding with another moving vehicle, damaging your car on a curb and sideswiping another vehicle. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to bump up the deductible to get cheaper collision coverage.
Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Ford Five Hundred.
Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea.
Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance reimburse you for expenses like doctor visits, prosthetic devices and chiropractic care. They are used in conjunction with a health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
Liability – Liability insurance will cover injuries or damage you cause to other people or property. This coverage protects you against other people’s claims, and does not provide coverage for damage to your own property or vehicle.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 which means $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.
Liability coverage protects against things such as bail bonds, pain and suffering, repair costs for stationary objects, emergency aid and medical services. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as large an amount as possible.
Comprehensive coverage – Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive can pay for claims such as a tree branch falling on your vehicle, damage from a tornado or hurricane, theft and hitting a bird. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
Some auto insurance companies do not provide rates over the internet and usually these small insurance companies prefer to sell through independent insurance agents. Lower-priced auto insurance can be purchased from both online companies as well as from insurance agents, so you need to compare both in order to have the best chance of saving money.
We just covered quite a bit of information on how to reduce 2009 Ford Five Hundred insurance car insurance rates online. It’s most important to understand that the more price quotes you have, the higher your chance of finding cheap insurance coverage. Consumers could even find that the lowest car insurance rates come from a company that doesn’t do a lot of advertising. Some small companies may often insure only within specific states and give getter rates than their larger competitors like Allstate and Progressive.
Additional detailed information is located at these sites: