Have you finally had enough of wondering where the money will come from to pay your insurance coverage bill each month? You are no different than millions of other consumers.
Consumers have many car insurance companies to buy insurance from, and although it’s a good thing to be able to choose, more options can take longer to compare rates and cut insurance costs.
Finding the lowest cost auto insurance coverage is not that difficult. Basically, everyone who is shopping for auto insurance will most likely be able to cut their insurance bill. Nevertheless, consumers do need to know the methods companies use to price insurance differently and take advantage of how the system works.
Comparing car insurance rates can be a daunting task if you aren’t aware of the most efficient way. You can spend your afternoon talking about coverages with local insurance agents in your area, or you can stay home and use the internet to accomplish the same thing much quicker.
Many popular insurance companies belong to a marketplace that allows shoppers to enter their policy data once, and each company returns a rated price for coverage. This saves time by eliminating quote requests for each company.
To enter your information into the quoting system, click to open in new window.
The only drawback to comparing rates this way is you can’t choose which insurance companies to receive prices from. So if you want to select specific providers to receive pricing from, we have a listing of companies who write car insurance in your area. Click to view list.
Whichever method you choose, be certain you are entering nearly identical coverage data for each quote you get. If the quotes have different values for each quote then you won’t be able to get a fair rate comparison. Slightly different limits may result in large price differences. And when quoting car insurance, remember that quoting more helps you find a lower rate.
Companies like Allstate, GEICO and Progressive consistently run ads on television and other media. All the companies make the same claim that drivers will save a bundle just by switching your coverage to them. But how can every company make the same claim?
Companies provide the lowest rates for the type of customer that makes them money. For instance, this type of risk profile could possibly be a female over age 40, has other policies, and does not commute to work. Anyone that fits those parameters receive the lowest rate quotes and will most likely save a lot of money.
Potential insureds who don’t qualify for this ideal profile may be forced to pay a higher rate which results in the prospect going elsewhere. The ads state “people who switch” but not “everyone who gets a quote” can get the lowest rates when switching. This is how companies can claim big savings.
Different companies use different criteria so you really should get car insurance quotes from several different companies. You cannot predict which insurance companies will have better prices than you’re paying now.
Smart consumers have a good feel for the factors that go into determining your auto insurance rates. If you have some idea of what controls the rates you pay, this allows you to make educated decisions that can help you get lower auto insurance prices. Many different elements are considered when you quote your car insurance policy. Some of the criteria are obvious such as your driving record, but some are more transparent like your vehicle usage or your commute time.
The items below are some of the things used by companies to determine your rate level.
Not many people think insurance is cheap, but companies offer discounts that you may not even know about. Many discounts should be triggered at the time of purchase, but a few need to be inquired about before being credited. If you do not double check each discount you qualify for, you could be paying more than you need to.
Discounts lower rates, but some of the credits will not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like comp or med pay. So even though they make it sound like all the discounts add up to a free policy, insurance companies wouldn’t stay in business.
A list of auto insurance companies and the discounts they provide are outlined below.
Before purchasing a policy, check with all companies you are considering which discounts you may be entitled to. Some credits may not be offered in your area. To see providers that offer discounts, click here to view.
When it comes to buying the right insurance coverage for your personal vehicles, there is no “perfect” insurance plan. Coverage needs to be tailored to your specific needs so this has to be addressed. For example, these questions could help you determine if you would benefit from an agent’s advice.
If it’s difficult to answer those questions, you may need to chat with 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.
Learning about specific coverages of car insurance can help you determine the best coverages for your vehicles. Policy terminology can be confusing and coverage can change by endorsement. These are the usual coverages found on most car insurance policies.
Collision coverage protection
This pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.
Collision can pay for claims like sustaining damage from a pot hole, colliding with another moving vehicle, rolling your car and sideswiping another vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to choose a higher deductible to save money on collision insurance.
Coverage for liability
Liability coverage provides protection from injuries or damage you cause to a person or their property. It protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 50/100/50 which means a limit of $50,000 per injured person, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers things like legal defense fees, medical expenses, funeral expenses, structural damage and attorney fees. How much coverage you buy is a personal decision, but you should buy as high a limit as you can afford.
This coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and also any damage incurred to your FIAT 500e.
Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is important protection for you and your family. Frequently your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Comprehensive or Other Than Collision
Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as hitting a deer, damage from getting keyed, vandalism, fire damage and hail damage. The maximum amount your car insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Medical costs insurance
Coverage for medical payments and/or PIP pay for short-term medical expenses such as hospital visits, surgery, EMT expenses and rehabilitation expenses. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available but can be used in place of medical payments coverage
We just showed you quite a bit of information on how to compare 2016 FIAT 500e insurance premium rates online. The most important thing to understand is the more rate comparisons you have, the better chance you’ll have of finding low cost car insurance. Consumers may even find the lowest premium rates come from a lesser-known regional company. They often have lower prices on specific markets as compared to the big name companies such as State Farm and Allstate.
When you buy car insurance online, you should never skimp on critical coverages to save a buck or two. Too many times, consumers will sacrifice liability coverage limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find at the best cost.