Are you a victim of high-priced car insurance? Don’t sweat it because many consumers are in the same pinch.
Online insurance companies like State Farm, Allstate, GEICO and Progressive all claim big savings with ads and it can be hard to see through the deception and do the work needed to find the best deal.
Some insurers don’t always publicize all their discounts very well, so the list below details some of the more common and also the more inconspicuous discounts you could be receiving when you buy insurance coverage online. If you check and find you aren’t receiving every discount you qualify for, you are not getting the best rate possible.
One thing to note about discounts is that many deductions do not apply the the whole policy. Most only apply to specific coverage prices like liability, collision or medical payments. Despite the appearance that you could get a free auto insurance policy, you’re out of luck. Any amount of discount will definitely lower your auto insurance premiums.
Larger auto insurance companies and a selection of discounts are:
If you want affordable insurance coverage quotes, ask every company which discounts can lower your rates. Discounts might not apply in your area. To choose companies that offer the discounts shown above, click here.
One of the most helpful ways to save on auto insurance is to to have a grasp of a few of the rating criteria that help calculate the price you pay for auto insurance. When you know what positively or negatively controls the rates you pay, this allows you to make educated decisions that can help you get big savings. Lots of things are used when quoting car insurance. Some are obvious like an MVR report, but other factors are more transparent such as whether you are married or how financially stable you are.
Listed below are some of the most common factors that factor into your prices.
When buying adequate coverage, there really is no cookie cutter policy. Every situation is different so this has to be addressed. Here are some questions about coverages that might point out whether or not you will benefit from professional help.
If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area.
Respected companies like State Farm and Allstate continually stream ads on television and other media. They all make the point of big savings after switching your policy. How does each company sell you cheaper insurance coverage? This is the way they can do it.
Auto insurance companies give the best rates for the type of customer that earns them the highest profit. For instance, a driver they prefer may need to be between the ages of 30 and 50, has had continuous coverage, and does not commute to work. Someone that hits that “sweet spot” gets the lowest car insurance rates and is almost guaranteed to save when they switch companies.
Potential customers who are not a match for the requirements will probably have to pay higher prices which usually ends up with the customer buying from someone else. The trick companies use is to say “customers that switch” but not “everyone who gets a quote” save the amount stated. This is how insurance companies can confidently make claims like that.
Different companies use different criteria so it is so important to compare price quotes frequently. It is impossible to guess the company that will have the lowest rates.
Knowing the specifics of your policy can help you determine the best coverages and proper limits and deductibles. The terms used in a policy can be confusing and coverage can change by endorsement. Listed below are the normal coverages found on the average auto insurance policy.
Liability car insurance
Liability coverage will cover damage or injury you incur to people or other property that is your fault. It 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. You commonly see policy limits of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Occasionally you may see one number which is a combined single limit that pays claims from the same limit without having the split limit caps.
Liability coverage pays for things like medical expenses, attorney fees, bail bonds and emergency aid. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.
Uninsured Motorist or Underinsured Motorist insurance
This coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Five Hundred.
Because many people carry very low liability coverage limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea. Most of the time these limits do not exceed the liability coverage limits.
Comprehensive coverage (or Other than Collision)
This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things such as fire damage, hail damage, damage from getting keyed, damage from flooding and falling objects. The maximum amount your auto insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage reimburse you for short-term medical expenses such as surgery, pain medications, dental work, funeral costs and ambulance fees. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
This coverage covers damage to your Five Hundred resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for things like backing into a parked car, crashing into a building and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. Another option is to increase the deductible to get cheaper collision coverage.
When trying to cut insurance costs, make sure you don’t sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice uninsured motorist or liability limits and learned later that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to purchase plenty of coverage at the best possible price and still be able to protect your assets.
We just presented a lot of tips how to compare 2015 Ford Five Hundred insurance car insurance rates online. The key thing to remember is the more you quote insurance coverage, the better chance you’ll have of finding the cheapest insurance coverage. You may even discover the most savings is with the least-expected company. They may have significantly lower premium rates on certain market segments than their larger competitors like GEICO and State Farm.
Much more information about insurance coverage is available at the links below