View 2010 Mitsubishi Lancer Evolution Insurance Cost

Have you finally had enough of being strong-armed to keep your car insured? You are in the same boat as many other consumers.

Online insurance companies like Allstate and Progressive continually hit you with fancy advertisements and it is difficult to ignore the propoganda and do the work needed to find the best deal.

If you have car insurance now, you will most likely be able to save some money using these tips. Buying car insurance is quite easy. Nevertheless, consumers can benefit from knowing how the larger insurance companies market insurance on the web because it can help you find the best coverage.

The Mitsubishi Lancer Evolution insurance price equation

Consumers need to have an understanding of some of the elements that aid in calculating auto insurance rates. When you understand what impacts premium levels, this empowers consumers to make smart changes that will entitle you to lower premium levels.

The following are just a few of the factors companies use to determine your premiums.

• Minor frequent policy claims are not good – Car insurance companies award lower rates to policyholders who file claims infrequently. If you file a lot of claims you can definitely plan on higher rates. Your insurance policy is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
• High physical damage deductibles reduce costs – Coverage for physical damage, otherwise known as comp (or other than collision) and collision, helps pay for damage to your vehicle. Some instances where coverage would apply could be a broken windshield, collision with an animal, and windstorm damage. The deductibles define how much you are required to spend out-of-pocket before a claim is paid by your company. The more the insured is willing to pay, the better rate you will receive on Lancer Evolution insurance.
• Insure car and home with the same company – Most larger companies apply better rates to customers that buy multiple policies. It’s known as a multi-policy discount. If you currently are using one company, it’s in your best interest to compare other insurance prices to help ensure you have the lowest rates. You may still find better rates by buying insurance from more than one company.
• Safer cars cost less to insure – Safer cars tend to have lower insurance rates. Safe vehicles reduce occupant injuries and fewer injuries translates directly to fewer claims which can result in lower premiums.
• Gaps in coverage mean higher rates – Driving your car without having proper coverage is a misdemeanor and auto insurance companies will penalize you for letting your insurance coverage expire. In addition to paying higher rates, not being able to provide proof of insurance can result in a license revocation or jail time.
• Premiums increase with driving tickets – Good drivers get better prices as compared to careless drivers. Having just one ticket could increase your next policy renewal substantially. People who have flagrant tickets like DUI or willful reckless driving may face state-mandated requirements to complete a SR-22 with their state’s licensing department in order to prevent a license revocation.
• Cheaper to insure women? – Statistics demonstrate that females tend to be a little less risky than males. This data doesn’t prove that males are worse at driving than females. They both cause fender benders in similar percentages, but guys tend to have higher claims. They also receive more major tickets like DUI and reckless driving. Males from age 16 to 21 are most likely to cause an accident and therefore pay the highest rates.
• Liability coverage – Liability insurance is the protection when a court rules you are at fault for personal injury or accident damage. Liability insurance provides you with a defense in court which can cost a lot. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so do not cut corners here.

How to lower your insurance cost

When looking for cheaper auto insurance quotes, there are a couple ways to get quotes from different insurance companies. The quickest method to do a complete rate comparison is to get quotes online. This is quite simple and can be completed using a couple different methods.

1. One of the best ways consumers can make multiple comparisons is a comparison rater form like this one (opens in new window). This method prevents you from having to do repetitive form submissions for every company. Filling out one form gets coverage cost estimates from many national carriers.
2. A more time consuming way to get comparison quotes is to manually visit each company’s website and fill out a new quote form. For example, let’s say you want to view quotes from Geico, Esurance and Liberty Mutual. To get rate quotes you would need to navigate to each company’s site and punch in your information repeatedly, which can get rather old. For a handy list of car insurance company links in your area, click here.

It’s up to you which method you use, but be sure you’re using the exact same deductibles and coverage limits on every price quote you get. If you enter mixed coverages you can’t possibly get a fair rate comparison. Having just a slight variation in coverages may cause a big price difference. Just remember that comparing more company’s prices helps improve the odds of finding better pricing.

More discounts mean cheap premiums

Companies offering auto insurance do not advertise every disount available in an easy-to-find place, so we took the time to find both well-publicized and also the more inconspicuous credits that may apply to you.

• Auto/Life Discount – Insurance companies who offer life insurance give better insurancerates if you take out auto and life insurance together.
• Telematics Discount – Policyholders that allow their insurance company to track their driving habits by using a small device installed in their vehicle such as Progressive’s Snapshot could possibly reduce rates if they exhibit good driving behavior.
• Drive Safe and Save – Drivers who avoid accidents can get discounts for up to 45% lower rates on Lancer Evolution insurance than their less cautious counterparts.
• Pay Upfront and Save – If paying your policy premium upfront rather than paying in monthly installments you could save up to 5%.
• Bundle and Save – When you have multiple policies and insure them both with the same insurance company they may give you a discount of nearly 15% which can help you find the cheapest auto insurance.
• Driver Education Discount – Require your teen driver to participate in a local driver’s education class in high school.
• Discount for New Cars – Adding a new car to your policy can get you a discount due to better safety requirements for newer vehicles.

One last thing about discounts, most discount credits are not given to the entire cost. Most only reduce individual premiums such as liability, collision or medical payments. So when the math indicates you could get a free insurance policy, that’s just not realistic. But all discounts will reduce your policy premiums.

Popular insurance companies and some of their more popular discounts are detailed below.

• State Farm offers discounts for student away at school, defensive driving training, good driver, multiple autos, passive restraint, Drive Safe & Save, and accident-free.
• American Family offers premium reductions for mySafetyValet, Steer into Savings, multi-vehicle, TimeAway discount, and defensive driver.
• Geico may have discounts that include seat belt use, anti-lock brakes, multi-vehicle, military active duty, membership and employees, defensive driver, and federal employee.
• 21st Century has savings for teen driver, driver training, 55 and older, anti-lock brakes, and homeowners.
• Progressive policyholders can earn discounts including homeowner, good student, continuous coverage, online quote discount, online signing, multi-policy, and multi-vehicle.

Check with all the companies what discounts are available to you. Discounts might not be offered in your area. To find insurance companies who offer cheap insurance quotes, click this link.

It’s not one size fits all

When it comes to buying the best auto insurance coverage for your personal vehicles, there really is no one size fits all plan. Coverage needs to be tailored to your specific needs and your policy should reflect that. For example, these questions may help you determine whether or not you might need an agent’s assistance.

• Do I benefit by insuring my home with the same company?
• Am I covered when using my vehicle for business?
• Am I covered if I break a side mirror?
• Why do I only qualify for high-risk insurance?
• Is my teen driver covered when they drive my company car?
• Does insurance cover damages from a DUI accident?
• How high should my uninsured/underinsured coverage be in my state?
• What is no-fault insurance?
• What is medical payments coverage?
• Am I covered when delivering products for my home-based business?

If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.

Educate yourself about insurance coverages

Learning about specific coverages of your policy can be of help when determining which coverages you need at the best deductibles and correct limits. Policy terminology can be impossible to understand and coverage can change by endorsement. These are the normal coverages found on most insurance policies.

Comprehensive insurance

Comprehensive insurance covers damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as damage from flooding, hail damage, damage from getting keyed and damage from a tornado or hurricane. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for short-term medical expenses for surgery, funeral costs and rehabilitation expenses. The coverages can be utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Liability insurance

Liability coverage can cover injuries or damage you cause to a person or their property. It protects you against claims from other people, and does not provide coverage for your injuries or vehicle damage.

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 liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery. Another option is a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.

Liability can pay for things such as repair costs for stationary objects, court costs, bail bonds, funeral expenses and pain and suffering. How much coverage you buy is up to you, but you should buy as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries and damage to your Mitsubishi Lancer Evolution.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits do not exceed the liability coverage limits.

Collision insurance

Collision coverage covers damage to your Lancer Evolution from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage protects against claims like rolling your car, scraping a guard rail and hitting a mailbox. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to increase the deductible to save money on collision insurance.

In Summary

As you prepare to switch companies, don’t be tempted to skimp on critical coverages to save a buck or two. In too many instances, drivers have reduced collision coverage and discovered at claim time that the savings was not a smart move. The proper strategy is to buy the best coverage you can find at the best price, but do not skimp to save money.

Budget-friendly insurance coverage can be found on the web and with local insurance agents, and you should compare rates from both to get a complete price analysis. Some insurance coverage companies do not provide the ability to get a quote online and these regional carriers sell through independent agents.

We just covered some good ideas how to get a better price on 2010 Mitsubishi Lancer Evolution insurance. The most important thing to understand is the more price quotes you have, the better likelihood of getting the cheapest auto insurance. Drivers may discover the biggest savings come from the smaller companies. These companies often have lower premium rates on specific markets than the large multi-state companies such as Allstate and Progressive.

Helpful resources

• Information for Teen Drivers (Geico)
• Choosing an Insurance Company (Insurance Information Insitute)
• Older Driver Statistics (Insurance Information Insitute)
• Distracted Driving Statistics (Insurance Information Insitute)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)