Did a good deal turn out to be overpriced insurance? You’re in good company because many drivers feel the same as you. You have so many auto insurance companies to choose from, and although it’s a good thing to have a choice, it can be more challenging to find a good deal.
The purpose of this article is to help educate you on how car insurance quotes work and some money-saving tips. If you currently have car insurance, you stand a good chance to be able to save some money using these techniques. Drivers just need to understand how to compare prices over the internet.
Most companies like State Farm, GEICO and Progressive allow consumers to get insurance quotes online. Doing online price comparisons is fairly simple because you just enter the coverage amounts you desire on the page. After the form is submitted, the system pulls information on your driving record and credit history and gives you a price quote based on the information you submitted. This makes it easy to compare insurance prices but the work required to visit different websites and type in the same information is a waste of time. But it’s absolutely necessary to have as many quotes as possible if you are searching for better prices.
A better way to lower your car insurance bill makes use of a single form to return rates from a bunch of companies at once. The form is fast, requires less work, and makes rate comparisons much easier. After sending the form, your coverage is rated and you are able to buy any or none of the price quotes you receive.
If a lower price is quoted, you simply finish the application and purchase coverage. The whole process takes 15 minutes at the most and could lower your rates considerably.
To save time and fill out one form to compare multiple rates now, click here to open in new window and input your coverage information. If you have a policy now, it’s recommended you input deductibles and limits as close as possible to your current policy. Using the same limits helps guarantee you’re receiving a price comparison for similar coverage.
Some providers don’t always advertise every policy discount in an easy-to-find place, so the below list has a few of the more well known in addition to some of the lesser obvious savings tricks you should be using when you buy car insurance online.
You can save money using discounts, but most discount credits are not given to the overall cost of the policy. Most cut the cost of specific coverages such as comprehensive or collision. So even though you would think it’s possible to get free car insurance, that’s just not realistic. Any amount of discount will reduce your policy premiums.
Insurance companies that possibly offer these discounts include:
When comparing rates, check with every company which discounts you qualify for. All car insurance discounts might not be offered in your state. To choose insurers with significant discounts, follow this link.
Many different elements are used when pricing auto insurance. Some are obvious like your driving record, but other factors are not quite as obvious like your continuous coverage or how safe your car is.
When it comes to buying adequate coverage for your personal vehicles, there isn’t really a “perfect” insurance plan. Every situation is different and a cookie cutter policy won’t apply. For example, these questions may help highlight whether or not you will benefit from professional help.
If you’re not sure about those questions but you know they apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.
Consumers get pounded daily by advertisements for the lowest price insurance coverage from the likes of State Farm, GEICO and Progressive. They all advertise the message that drivers can save some big amount if you change to them.
How does each company sell you cheaper insurance coverage? This is the trick they use.
Insurance coverage companies have strict underwriting profiles for the driver that earns them the highest profit. A good example of this type of driver should be over the age of 40, has no driving citations, and has a short commute. Any driver who fits that profile will get the preferred premium rates and most likely will save money with a new company.
Drivers who don’t meet those standards may be forced to pay a more expensive rate which results in business going elsewhere. If you pay attention, the ads say “customers who switch” but not “all drivers who get quotes” will save that much if they switch. That is how insurance companies can confidently state the savings.
Because of these techniques, you should get a wide range of price quotes. You cannot predict which insurance companies will have the best rates.
Having a good grasp of car insurance aids in choosing the right coverages and proper limits and deductibles. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverages found on the average car insurance policy.
Medical expense insurance
Medical payments and Personal Injury Protection insurance kick in for expenses such as ambulance fees, X-ray expenses, pain medications, surgery and doctor visits. They are used to cover expenses not covered by your health insurance program or if you lack health insurance entirely. They cover all vehicle occupants and also covers being hit by a car walking across the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage
Protection from uninsured/underinsured drivers
This coverage provides protection when other motorists either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and damage to your 2012 Acura RDX.
Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage should not be overlooked. Most of the time these coverages do not exceed the liability coverage limits.
Liability insurance provides protection from damage that occurs to other’s property or people in an accident. This insurance protects YOU against other people’s claims, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Occasionally you may see one limit called combined single limit (CSL) which provides one coverage limit rather than limiting it on a per person basis.
Liability can pay for claims such as attorney fees, legal defense fees, loss of income, repair bills for other people’s vehicles and structural damage. How much liability should you purchase? That is a personal decision, but consider buying higher limits if possible.
Comprehensive (Other than Collision)
This pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims like fire damage, damage from flooding, a broken windshield and hitting a bird. The maximum 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 not worth carrying full coverage.
This will pay to fix damage to your RDX 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 coverage pays for claims such as damaging your car on a curb, driving through your garage door and backing into a parked car. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. You can also raise the deductible to save money on collision insurance.
As you prepare to switch companies, do not buy less coverage just to save a little money. In many cases, drivers have reduced liability coverage limits and learned later that it was a big error on their part. Your goal should be to buy a smart amount of coverage at the best possible price but still have enough coverage for asset protection.
More affordable insurance is attainable from both online companies and also from your neighborhood agents, so you should be comparing quotes from both to have the best rate selection. Some companies may not offer the ability to get a quote online and these regional carriers provide coverage only through local independent agencies.