Pretty sure you bought an expensive insurance coverage policy? It’s a common feeling and you’re not the only one.
Multiple insurance companies compete for your hard-earned dollar, so it can be very hard to choose a provider and get the best coverage at the best rate
If you currently have a car insurance policy, you will be able to reduce your rates substantially using these methods. Choosing the best insurance company for you is easy if you know what you’re doing. But vehicle owners can benefit by having an understanding of how the larger insurance companies market on the web and use this information to your advantage.
When shopping for auto insurance there are multiple ways of comparing price quotes from companies that offer auto insurance in your state. The fastest way to find affordable 2015 Ford Shelby GT350 insurance rates is simply to get online rate quotes. This can be accomplished in just a few minutes using one of these methods.
Whichever method you choose, make absolute certain that you use identical coverage information with each company. If the quotes have higher or lower deductibles you can’t possibly determine the lowest rate for your Ford Shelby GT350. Just slight variations in insurance coverages can mean a large discrepancy in price. Just keep in mind that comparing more rates from different companies increases the change that you will find better pricing.
Auto insurance providers like GEICO, State Farm and Progressive endlessly run ads in print and on television. They all make the point that you’ll save big if you switch your coverage. But how can every company charge you a lower premium? It’s all in the wording.
Companies give the cheapest rates for the type of driver that will add to their bottom line. An example of a desirable risk might have to be a married female, carries high limits, and has great credit. A driver that meets those criteria gets the lowest car insurance rates and will also cut their rates substantially.
Potential insureds who do not meet the requirements will probably be forced to pay higher prices and this results in business going elsewhere. If you listen closely, the ads state “customers that switch” but not “all drivers who get quotes” can save as much as they claim. That’s the way insurance companies can confidently make the claims of big savings.
This really drives home the point why you should compare as many free insurance quotes as you can. You cannot predict with any certainty which company will have the lowest rates for your situation.
Multiple criteria are considered when quoting car insurance. Some are pretty understandable like your driving record, but others are less obvious like your vehicle usage and annual miles driven.
The itemized list below are some of the things used by insurance companies to determine your premiums.
Car insurance companies don’t always list every discount they offer very clearly, so the list below gives a summary of a few of the more well known as well as the least known discounts that you may qualify for.
A little note about advertised discounts, some credits don’t apply to your bottom line cost. Some only reduce individual premiums such as comp or med pay. So despite the fact that it appears you could get a free auto insurance policy, it doesn’t quite work that way.
Large auto insurance companies and some of the premium reductions they offer are detailed below.
It’s a good idea to ask each company or agent which discounts you may be entitled to. A few discounts may not apply to policyholders in your state.
When it comes to buying proper insurance coverage, there really is not a “best” method to buy coverage. Coverage needs to be tailored to your specific needs and a cookie cutter policy won’t apply. Here are some questions about coverages that may help you determine whether your personal situation may require specific advice.
If you don’t know the answers to these questions but one or more may apply to you then you might want to talk to an insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies.
Learning about specific coverages of your insurance policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by insurance companies.
Medical expense insurance
Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like EMT expenses, ambulance fees, dental work and funeral costs. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Protection from uninsured/underinsured drivers
This coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Shelby GT350.
Since a lot of drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Normally these limits do not exceed the liability coverage limits.
Liability auto insurance
Liability insurance protects you from injuries or damage you cause to a person or their property by causing an accident. It protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Occasionally you may see one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability coverage protects against claims like attorney fees, bail bonds, structural damage, medical expenses and funeral expenses. The amount of liability coverage you purchase is up to you, but buy as high a limit as you can afford.
Comprehensive (Other than Collision)
This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as damage from a tornado or hurricane, a tree branch falling on your vehicle, damage from getting keyed and damage from flooding. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
This coverage covers damage to your Shelby GT350 resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for things such as backing into a parked car, sideswiping another vehicle, scraping a guard rail, crashing into a building and rolling your car. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to raise the deductible to save money on collision insurance.
As you shop your coverage around, you should never skimp on coverage in order to save money. There are too many instances where someone sacrificed uninsured motorist or liability limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy the best coverage you can find for the lowest price, not the least amount of coverage.
You just read some good ideas how to reduce 2015 Ford Shelby GT350 insurance prices online. The key thing to remember is the more rate comparisons you have, the higher your chance of finding the cheapest insurance. You may even find the lowest prices come from a company that doesn’t do a lot of advertising. Some small companies may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.
More affordable auto insurance is possible both online and from local agencies, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who may not offer online rate quotes and many times these smaller providers prefer to sell through local independent agents.
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