Are you a victim of high-priced insurance coverage? Don’t sweat it because there are a lot of people just like you who feel imprisoned by their insurance coverage policy.
Big companies like Progressive, Geico and Farmers Insurance all claim big savings with catchy ads and consumers find it hard to sift through the bull and effectively compare rates to find the best deal.
If you are paying for car insurance now, you will be able to lower your premiums substantially using this strategy. Finding the best rates is quite easy. Nevertheless, drivers do need to know how insurance companies market insurance on the web and take advantage of how the system works.
Smart consumers have a good feel for the factors that play a part in calculating your policy premiums. If you have a feel for what determines base rates, this enables you to make decisions that could help you find lower rates.
The factors shown below are some of the items auto insurance companies consider when setting prices.
All the larger car insurance companies such as State Farm and Allstate make it easy to get prices for coverage on their websites. Comparing rates online is fairly simple because you just enter the amount of coverage you want on the page. When complete, their rating system automatically orders your driving record and credit report and generates pricing information based on these and other factors. This makes comparing rates easy, but the time it takes to visit a lot of sites and enter the same data into a form gets old quite quickly. But it’s also necessary to do this in order to get lower prices.
Online rates the easy way
The smarter way to lower your rates uses just one form to return rates from several different companies. It saves time, eliminates repetitive work, and makes online price comparison a little more enjoyable. After sending your information, it gets priced and you are able to buy any or none of the quotes returned. If you find a better price you simply finish the application and purchase coverage. This process takes 15 minutes at the most and you will know how your current rates stack up.
To save time and get comparison pricing now, simply click here to open in new window and enter your information. If you have coverage now, it’s recommended you complete the form with deductibles and limits just like they are on your policy. Doing this guarantees you will have comparison quotes for exact coverage.
Respected companies like State Farm and Allstate regularly use television and radio advertisements. They all advertise the message that you’ll save big after switching your coverage to them. How does each company say the same thing? This is the trick they use.
Insurance providers have a certain “appetite” for the right customer that earns them the highest profit. For instance, a profitable customer should be a mature driver, is a homeowner, and drives a vehicle with a low ISO rating. Any new insured that fits those parameters will probably get the lowest premium rates and most likely will save some money.
Consumers who fall short of those criteria will probably be forced to pay higher premiums and business not being written. The wording the ads use say “customers that switch” but not “all drivers who get quotes” save the amount stated. This is how companies can truthfully make the claims of big savings. This really illustrates why it is so important to get car insurance quotes as often as possible. Because you cannot predict which auto insurance company will have the lowest rates.
Some insurance providers don’t list every available discount very well, so we took the time to find both the well known as well as the least known insurance coverage savings.
Don’t be shocked that most of the big mark downs will not be given to the entire cost. Most cut the price of certain insurance coverages like liability and collision coverage. Despite the appearance that you can get free auto insurance, you aren’t that lucky.
Auto insurance companies that possibly offer most of these discounts include:
Before buying, ask every company which discounts can lower your rates. Some of the earlier mentioned discounts might not apply in your area. If you would like to choose from a list of insurance coverage companies that have a full spectrum of discounts, click this link.
When it comes to choosing the right insurance coverage, there isn’t really a best way to insure your cars. Every insured’s situation is different so this has to be addressed. Here are some questions about coverages that may help you determine whether you will benefit from professional help.
If it’s difficult to answer those questions but you know they apply to you then you might want to talk to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.
Understanding the coverages of car insurance helps when choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. These are the normal coverages available from car insurance companies.
UM/UIM (Uninsured/Underinsured Motorist) coverage – This protects you and your vehicle from other motorists when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your BMW X5.
Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Collision – This covers damage to your X5 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 claims such as hitting a mailbox, crashing into a ditch, hitting a parking meter, colliding with another moving vehicle and scraping a guard rail. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to increase the deductible to save money on collision insurance.
Comprehensive auto coverage – Comprehensive insurance coverage pays for damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like vandalism, hitting a deer and hitting a bird. The maximum payout a car insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.
Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like rehabilitation expenses, funeral costs and surgery. They are used in conjunction with a health insurance plan or if you do not have health coverage. They cover not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP is not an option in every state and may carry a deductible
Liability auto insurance – Liability insurance will cover injuries or damage you cause to people or other property that is your fault. It protects YOU from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.
Liability can pay for things such as repair costs for stationary objects, medical services, funeral expenses and bail bonds. How much coverage you buy is a decision to put some thought into, but consider buying higher limits if possible.
We just showed you a lot of ways to shop for 2013 BMW X5 insurance online. The key thing to remember is the more companies you get rates for, the better your comparison will be. Consumers may even find the biggest savings come from an unexpected company. Regional companies may have significantly lower rates on certain market segments than the large multi-state companies such as Geico and State Farm.
As you go through the steps to switch your coverage, you should never buy lower coverage limits just to save a few bucks. In many cases, someone sacrificed liability limits or collision coverage and learned later that the few dollars in savings costed them thousands. The aim is to find the BEST coverage for the lowest cost, but don’t skip important coverages to save money.
Additional car insurance information is located on the following sites:
I compared a lot of rate quotes for a 2013 BMW X5 in Salt Lake City, Utah. Ended up at right around $300 every six months with Amica. I think they have home insurance too. I quoted rates online then called them.
I’m in Wichita, Kansas, and Progressive rates were affordable. Left State Farm to switch. I have a couple other vehicles on the policy.
All companies are crooks. Live in Dover, DE. Quoted with Allstate, Amica, and Erie for my X5 and saved just over $280 a year. I increased coverages a little too.
I found affordable 2013 BMW X5 insurance from Progressive in San Antonio, TX.
Live in the northern part of Los Angeles, California. Got free quotes online for a 2013 BMW X5. Ended up at about $400 savings annually. Went with 21st Century. Left Sentry to switch. They have a lot of discounts available.
I live on the south side of Las Cruces, NM. Got car insurance quotes from Amica, Mercury, and a few others for my BMW and I’m now saving $47 a month. I even had a DUI years ago.
I live just outside San Jose, CA. Got rates from Allstate, Hartford, and Erie for my BMW and I’m now saving $17 a month.
Lots of good stuff here. I’m just south of Miami, FL. Got quotes from Travelers, Auto-Owners, Hartford, and Nationwide for my X5 and saved $527 a year. I used their website to get prices.
Thought I’d throw in my experience. Live in San Antonio, TX. I got free quotes with State Farm, Esurance, and Hanover for my X5 and I’m now saving $35 a month. Was with American Family. :P
I got quite a few price quotes for a 2013 BMW X5 in Missoula, MT. Ended up at about $550 every six months with AIG Insurance.
From a town just southwest of Des Moines, IA. Quoted a bunch of companies. Saved roughly $30 a month. State Farm was the cheapest option for me. A clean driving record helps. You can get a rate quote online.
If you have a good history and live near Seattle, Washington, check out State Farm. They seem to be cheaper. Insured with Encompass before.
Good site, thanks. I live in Albuquerque, NM. Got prices from GEICO, Encompass, and Hartford for my BMW and I think I saved around $20 each month. Was with Encompass. Have a couple speeding tickets too.
Cheapest quote for my 2013 BMW X5 was with Eastwood. My new agent seems to be really good. Highly recommended.
I compared a lot of rate quotes for a 2013 BMW X5 in Saint Louis, MO. Ended up at about $530 every six months with AIG Insurance. Teenage drivers are expensive!
Will 21st Century raise rates if I file a claim?
I got decent rates for a 2013 BMW X5 in Eugene, OR. Ended up at darn near $130 every six months with American Family.