Wish you could get out of overpriced insurance coverage? It’s quite common and many consumers are in the same pinch.
Big companies like GEICO, 21st Century and Progressive continually hit you with catchy ads and consumers find it hard to not get sucked in by the cute commercials and do the work needed to find the best deal.
It is always a good idea to compare prices at least once a year because insurance coverage prices trend upward over time. Despite the fact that you may have had the lowest rates on GLI insurance a couple years back there is a good chance you can find better rate quotes now. Block out anything you think you know about insurance coverage because we’re going to demonstrate how to use the internet to buy cheaper insurance coverage.
Companies that sell car insurance do not advertise their entire list of discounts very clearly, so the list below contains a few of the more common as well as some of the hidden insurance savings. If you check and find you aren’t receiving every discount possible, you could be saving more on your insurance.
Consumers should know that some of the credits will not apply to all coverage premiums. Most only cut individual premiums such as liability and collision coverage. Even though it may seem like it’s possible to get free car insurance, insurance companies aren’t that generous.
Insurance companies that possibly offer these discounts possibly include:
Double check with each company which discounts you may be entitled to. Some of the earlier mentioned discounts may not apply to policyholders in your area. If you would like to view companies who offer online insurance quotes, click here to view.
When it comes to choosing the right insurance coverage for your vehicles, there really is no one size fits all plan. Everyone’s situation is unique and your policy should reflect that. These are some specific questions may help you determine if your insurance needs would benefit from professional advice.
If you can’t answer these questions, you may need to chat with an agent. If you want to speak to an agent in your area, simply complete this short form or click here for a list of car insurance companies in your area.
Progressive, GEICO, Allstate and State Farm consistently run ads on television and other media. All the companies advertise claims that you can save just by moving to them. It sounds good, but how can they all charge you less for car insurance? It’s all in how they say it.
All companies are able to cherry pick for the type of insured that is profitable for them. For instance, a profitable insured might be described as over the age of 45, has never had a claim, and drives less than 7,500 miles a year. A customer getting a price quote who fits those characteristics receives the best rates and have a good chance to save quite a bit of money when switching.
Drivers who do not fit those standards will be quoted more expensive rates which usually ends up with the customer not purchasing. The trick companies use is to say “drivers who switch” not “everyone who quotes” can save as much as they claim. That is how companies can make those claims.
This emphasizes why you need to get a wide range of price quotes. Because without a comparison, you cannot know with any certainty which company will have the best premium rates at this point in time.
Learning about specific coverages of your policy aids in choosing appropriate coverage and proper limits and deductibles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverage types available from auto insurance companies.
Collision coverage – This covers damage to your GLI from colliding with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things like colliding with another moving vehicle, sustaining damage from a pot hole, hitting a mailbox, damaging your car on a curb and rolling your car. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to bring the cost down.
Coverage for liability – This coverage provides protection from damage that occurs to other’s property or people in an accident. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability insurance covers claims like medical expenses, repair bills for other people’s vehicles, bail bonds, pain and suffering and attorney fees. How much liability should you purchase? That is up to you, but buy as much as you can afford.
Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Comprehensive insurance – Comprehensive insurance will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as vandalism, hitting a deer and a tree branch falling on your vehicle. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Med pay and Personal Injury Protection (PIP) – Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses like prosthetic devices, dental work, hospital visits and funeral costs. The coverages can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible
Some insurance coverage companies do not provide the ability to get quotes online smaller providers only sell through local independent agencies. Cheaper 2009 Volkswagen GLI insurance can be sourced both online in addition to local insurance agencies, and you need to price shop both to have the best rate selection.
When buying insurance coverage, you should never buy less coverage just to save a little money. There are many occasions where someone dropped liability limits or collision coverage and found out when filing a claim that they should have had better coverage. The goal is to buy enough coverage at a price you can afford, but do not sacrifice coverage to save money.
Additional detailed information is available in these articles: