Feeling guilty for buying overpriced auto insurance? Trust us when we tell you many consumers feel financially strained by their auto insurance policy. With consumers having so many companies to choose from, it can be hard to choose a lower cost insurance company.
It’s a good habit to do price comparisons on a regular basis because auto insurance rates are usually higher with each renewal. Even if you got the lowest rate for XC70 insurance at your last renewal you can probably find a better price now. You’ll find quite a bit of inaccurate information about auto insurance on the web, but in just a couple of minutes you can learn some great ways to buy auto insurance cheaper.
Auto insurance is expensive, but there’s a good chance there are discounts to help bring down the price. Some trigger automatically when you purchase, but a few must be requested specifically in order for you to get them.
A quick disclaimer, many deductions do not apply to the entire cost. Some only apply to the cost of specific coverages such as liability and collision coverage. So even though they make it sound like having all the discounts means you get insurance for free, companies wouldn’t make money that way. Any amount of discount should definitely cut your overall premium however.
Large auto insurance companies and the discounts they provide are outlined below.
If you need cheap car insurance quotes, ask all the companies which discounts you may be entitled to. Some credits might not apply in your state. For a list of companies that provide some of the discounts listed above, click here.
The most recommended method to compare car insurance rates is to know the fact all the major auto insurance companies will pay a fee to give rate comparisons. To get started, all you need to do is spend a couple of minutes providing details like if a SR-22 is needed, your job, if the car is leased, and the make and model of your vehicles. The data gets transmitted to multiple top-rated companies and they return cost estimate very quickly.
If you wish to get multiple quotes for your 2014 Volvo XC70 now, click here and find out if lower rates are available.
When buying proper insurance coverage for your vehicles, there really is no “best” method to buy coverage. Everyone’s needs are different and your policy should reflect that. These are some specific questions may help highlight if you may require specific advice.
If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of car insurance companies in your area. It is quick, free and you can get the answers you need.
Understanding the coverages of a insurance policy can help you determine the best coverages for your vehicles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverage types available from insurance companies.
Comprehensive auto coverage
This coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims like vandalism, damage from a tornado or hurricane, hitting a bird and damage from getting keyed. The most you’ll receive from a claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as nursing services, rehabilitation expenses, X-ray expenses and hospital visits. They can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants as well as being hit by a car walking across the street. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Liability car insurance
This coverage will cover damage that occurs to other’s property or people. This coverage protects you from legal claims by others. It does not cover your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 50/100/50 which stand for a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability insurance covers claims such as emergency aid, bail bonds, legal defense fees and court costs. How much liability coverage do you need? That is a personal decision, but you should buy as high a limit as you can afford.
Collision coverage protection
Collision coverage pays for damage to your XC70 resulting from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims such as scraping a guard rail, sideswiping another vehicle and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. You can also choose a higher deductible to save money on collision insurance.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage provides protection when the “other guys” are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries and damage to your 2014 Volvo XC70.
Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea. Normally these coverages are similar to your liability insurance amounts.
There are still a few companies who may not provide internet price quotes and many times these smaller companies only sell coverage through independent agents. More affordable insurance is possible from both online companies in addition to many insurance agents, and you should compare rates from both so you have a total pricing picture.
As you prepare to switch companies, it’s a bad idea to buy less coverage just to save a little money. There have been many cases where consumers will sacrifice physical damage coverage only to discover later that the small savings ended up costing them much more. Your strategy should be to buy enough coverage at the best cost but still have enough coverage for asset protection.
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