No sane person is fond of buying auto insurance, especially knowing the cost is too high.
Due to the increasing number of options when it comes to auto insurance, it’s difficult to choose a more affordable auto insurance company.
Consumers need to get comparison quotes occasionally because auto insurance prices are adjusted regularly by insurance companies. Just because you had the best price for TT RS coverage two years ago you may be paying too much now. Forget anything you know (or think you know) about auto insurance because you’re about to find out one of the easiest ways to lower your rates without sacrificing coverage.
Locating the lowest cost auto insurance is quite easy. Basically, every driver who has to buy auto insurance should be able to find better rates. But consumers need to have an understanding of the way companies compete online.
Effectively comparing insurance coverage prices can be a daunting task if you don’t utilize the fastest way to get free quotes. You can waste a lot of time discussing policy coverages with insurance agencies in your area, or you can utilize online quoting to get the quickest rates.
The majority of car insurance companies belong to a marketplace that allows shoppers to enter their coverage request one time, and each company returns a rated price. This prevents consumers from doing quotation requests to each company.
To access this free quoting program, click to open in new window.
The one downside to getting quotes like this is buyers cannot specifically choose the providers you will receive quotes from. So if you want to select specific insurance companies to request quotes from, we put together a list of companies who write insurance coverage in your area. Click to view list.
The approach you take is up to you, just make absolute certain that you use exactly the same coverages and limits for each price quote. If you are comparing different values for each quote it will be impossible to make a fair rate comparison. Having just a slight variation in insurance coverages can result in a big premium difference. Keep in mind that comparing more quotes increases your odds of finding the best price. Some insurance companies are not set up to provide prices over the internet, so it’s important to compare quotes from those companies as well.
Some insurance providers do not advertise the complete list of policy discounts in an easy-to-find place, so we researched both well-publicized and the harder-to-find discounts that may be available.
A quick disclaimer, most discount credits are not given to the overall cost of the policy. Most only reduce specific coverage prices like comp or med pay. So even though you would think having all the discounts means you get insurance for free, it doesn’t quite work that way.
A list of companies and some of the discounts are shown below.
If you need affordable insurance coverage quotes, ask each insurance company how you can save money. A few discounts may not apply to policyholders in every state.
When it comes to choosing adequate coverage, there is no cookie cutter policy. Every situation is different so your insurance needs to address that. For instance, these questions may help you determine if you may require specific advice.
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.
Understanding the coverages of insurance aids in choosing the right coverages for your vehicles. The terms used in a policy can be ambiguous and coverage can change by endorsement. Listed below are the normal coverages offered by insurance companies.
Comprehensive auto coverage – This coverage pays to fix your vehicle from 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 can pay for things like theft, hail damage and hitting a deer. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Medical payments and PIP coverage – Med pay and PIP coverage provide coverage for short-term medical expenses such as nursing services, prosthetic devices and surgery. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers you and your occupants in addition to getting struck while a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
UM/UIM (Uninsured/Underinsured Motorist) coverage – This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea. Frequently these limits do not exceed the liability coverage limits.
Auto liability – Liability coverage will cover damage or injury you incur to a person or their property that is your fault. This coverage protects you from claims by other people, and does not provide coverage for your own vehicle damage or injuries.
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 policy limits of 25/50/25 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.
Liability insurance covers claims such as funeral expenses, repair costs for stationary objects and emergency aid. How much coverage you buy is a personal decision, but consider buying as large an amount as possible.
Collision coverages – This pays to fix your vehicle from damage resulting from a collision with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like rolling your car, sideswiping another vehicle, backing into a parked car, damaging your car on a curb and driving through your garage door. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.