Have you fallen victim to high-priced insurance? Trust us when we tell you you’re not the only one.
Popular companies such as Progressive, GEICO and Farmers Insurance increase brand awareness with ad campaigns and it is challenging if not impossible to not get sucked in by the cute commercials and take the time to shop coverage around.
All the larger car insurance companies like Allstate and Progressive provide price estimates on the web. Comparing prices online is very simple as you just type in your required coverages into the form. After the form is submitted, the quote system sends out for reports for credit and driving violations and returns pricing information based on many factors. Quoting online makes it simple to compare prices but the process of having to visit a lot of sites and type in the same information gets old quite quickly. But it’s also necessary to do this in order to get the lowest possible prices on car insurance.
An easier way to lower your rates uses one simple form that gets price quotes from more than one company. It’s a real time-saver, reduces the work, and makes rate comparisons much more enjoyable. As soon as you send your information, it is rated and you are able to buy any or none of the quotes that you receive. If a lower price is quoted, you can click and sign and buy the policy. This process takes less than 15 minutes and you will know how your current rates stack up.
In order to find out if lower rates are available, click here to open in new window and input your coverage information. If you have coverage now, it’s recommended you input the insurance coverages identical to your current policy. This ensures you’re receiving a fair comparison using the exact same coverages.
Companies do not list every discount they offer very clearly, so the list below gives a summary of both well-publicized and also the more inconspicuous credits that may apply to you.
A little note about advertised discounts, most discount credits are not given to all coverage premiums. A few only apply to specific coverage prices like collision or personal injury protection. So even though they make it sound like all the discounts add up to a free policy, insurance companies wouldn’t stay in business. But any discount will bring down the amount you pay for coverage.
A few of the larger companies and their possible discounts are shown below.
If you want cheaper insurance coverage quotes, ask each insurance company which discounts they offer. Some credits may not apply in your area. To choose providers that offer multiple discounts, click here.
When buying adequate coverage, there is no “perfect” insurance plan. Each situation is unique so your insurance should reflect that Here are some questions about coverages that may help highlight if your situation would benefit from an agent’s advice.
If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area.
Lots of factors are part of the equation when quoting car insurance. Some are pretty understandable such as traffic violations, although some other factors are less apparent like your vehicle usage or your vehicle rating.
Respected companies like Allstate and Progressive regularly use ads in print and on television. All the ads convey the message that drivers will save a bundle if you move your coverage. How does each company charge less that you’re paying now? It’s all in how they say it.
Different companies have a certain “appetite” for a prospective insured they prefer to insure. For example, this type of risk profile may be a mature driver, owns their home, and does not commute to work. A customer who fits those characteristics will probably get cheap car insurance rates and most likely will cut their rates if they switch.
Potential customers who fall short of those standards will probably be forced to pay a higher premium which translates to the prospect going elsewhere. If you pay attention, the ads say “drivers that switch” not “all people who quote” can get the lowest rates when switching. That’s the way insurance companies can make the claims of big savings. This really illustrates why drivers must compare quotes as often as possible. It’s not possible to predict the company that will provide you with the cheapest premium rates.
Learning about specific coverages of your policy can help you determine the best coverages and the correct deductibles and limits. Policy terminology can be impossible to understand and reading a policy is terribly boring. Shown next are the usual coverages available from car insurance companies.
Uninsured Motorist or Underinsured Motorist insurance – This gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.
Collision coverage – This pays to fix your vehicle from damage resulting from a collision with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like colliding with a tree, driving through your garage door and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. It’s also possible to bump up the deductible in order to get cheaper collision rates.
Insurance for medical payments – Med pay and PIP coverage kick in for immediate expenses such as surgery, prosthetic devices and hospital visits. They are often used in conjunction with a health insurance policy or if you do not have health coverage. It covers you and your occupants and will also cover any family member struck as a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage
Liability coverage – Liability coverage will cover damage that occurs to people or other property that is your fault. It protects YOU against claims from other people. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show liability limits of 50/100/50 which means a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.
Liability insurance covers things such as funeral expenses, bail bonds, medical services, loss of income and court costs. How much liability coverage do you need? That is your choice, but consider buying as much as you can afford.
Comprehensive coverage (or Other than Collision) – Comprehensive insurance covers damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things like damage from flooding, a broken windshield and vandalism. The most a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
We’ve covered some good ideas how to save on 2015 Audi A8 insurance. The key concept to understand is the more rate comparisons you have, the better your chances of lowering your rates. Consumers may even find the lowest prices are with a small local company. Some small companies often have lower rates on specific markets as compared to the big name companies such as State Farm, GEICO and Nationwide.
As you shop your coverage around, never reduce needed coverages to save money. There are many occasions where someone sacrificed collision coverage to discover at claim time they didn’t purchase enough coverage. Your goal is to buy a smart amount of coverage at the best possible price while not skimping on critical coverages.