Do you get frustrated by the wide range of car insurance choices that you can choose from? There are so many options that it can quickly become a lot of work to compare rates.
You need to compare premium rates on a regular basis because prices are adjusted regularly by insurance companies. Even if you think you had the best quotes for Matrix coverage last year there is a good chance you can find better rates now. Block out anything you think you know about car insurance because you’re about to learn one of the best ways to reduce your cost while increasing coverage.
Buying car insurance is not rocket science. If you currently have car insurance, you stand a good chance to be able to lower your premiums substantially using these techniques. Although drivers must understand how insurance companies sell online because it can help you find the best coverage.
Buying car insurance is not cheap, but you might find some hidden discounts to help offset the cost. Many of these discounts will be applied automatically at the time you complete a quote, but some must be asked about before they will apply.
One last thing about discounts, most discount credits are not given to all coverage premiums. Some only apply to specific coverage prices like liability, collision or medical payments. Even though it appears it’s possible to get free car insurance, insurance companies wouldn’t stay in business.
Companies and a partial list of their discounts include:
Check with all the companies how you can save money. Some discounts might not be available to policyholders everywhere. To locate car insurance companies with significant discounts, click this link.
When it comes to choosing adequate coverage for your personal vehicles, there really is not a perfect coverage plan. Each situation is unique.
For example, these questions might help in determining whether your personal situation may require specific advice.
If you don’t know the answers to these questions, you may need to chat with an agent. If you want to speak to an agent in your area, fill out this quick form.
GEICO, State Farm and Progressive constantly bombard you with television and radio advertisements. All the ads tend to make the same promise that people will save if you switch your auto insurance policy to them. How does each company have lower policy pricing? It’s all in the wording.
Companies give the best rates for the type of insured that will generate a profit. An example of a profitable customer might have to be between 25 and 40, is a homeowner, and drives less than 5,000 miles a year. Anybody that meets those criteria will probably get the lowest rates and will most likely save when switching.
People who do not fit these stringent criteria will probably have to pay higher premium rates and this can result in the customer buying from someone else. The ad wording is “drivers that switch” not “everybody who quotes” save that much money. That’s the way companies can claim big savings. That is why you really need to compare many company’s prices. Because you never know with any certainty which company will have the lowest rate quotes.
Understanding the coverages of your policy can be of help when determining which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants as well as damage to your Toyota Matrix.
Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Coverage for liability
This coverage protects you from damages or injuries you inflict on other people or property by causing an accident. This coverage protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property.
Liability insurance covers claims like pain and suffering, emergency aid, repair bills for other people’s vehicles, structural damage and bail bonds. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP kick in for expenses like doctor visits, pain medications, rehabilitation expenses, funeral costs and chiropractic care. They are used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants as well as getting struck while a pedestrian. PIP is not available in all states but can be used in place of medical payments coverage
Collision coverage protection
Collision coverage pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.
Collision insurance covers claims like hitting a mailbox, sustaining damage from a pot hole, crashing into a building and scraping a guard rail. This coverage can be expensive, so you might think about dropping it from vehicles that are older. You can also bump up the deductible to get cheaper collision coverage.
Comprehensive auto coverage
This pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things such as vandalism, a tree branch falling on your vehicle, theft, fire damage and rock chips in glass. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
As you shop your coverage around, it’s very important that you do not buy poor coverage just to save money. There are a lot of situations where an insured cut full coverage only to discover later they didn’t purchase enough coverage. The goal is to buy enough coverage at a price you can afford, not the least amount of coverage.
Cheaper insurance coverage can be purchased from both online companies as well as from insurance agents, so get free car insurance quotes from both of them to have the best rate selection. Some insurance companies may not have online price quotes and these smaller companies provide coverage only through independent agents.
Drivers change insurance companies for a variety of reasons including delays in responding to claim requests, an unsatisfactory settlement offer, questionable increases in premium and even policy cancellation. Whatever your reason, choosing a new insurance company can be easier than you think.
More tips and info about insurance coverage can be found in the articles below: