Trying to come up with a payment for overpriced auto insurance can dwindle your budget and make it hard to pay other bills. Getting a rate comparison is a smart way to cut your insurance bill.
Many insurance companies compete for your insurance dollar, so it’s not easy to compare every company and get the best coverage at the best price available.
There are several ways of comparing rates from insurance companies in your area. The best way to comparison shop is simply to get online rate quotes. It is quite easy and can be accomplished in a couple minutes as outlined below.
The most efficient method consumers can analyze rates would be an industry-wide quote request form like this one (opens in new window). This easy form keeps you from doing separate quote forms for each company you want a rate for. In just a few minutes this one form gets coverage cost estimates direct from many companies.
A more time consuming way to get comparison quotes consists of visiting the website for every company you want to comare to complete their respective quote request forms. For examples sake, we’ll assume you want to compare prices for Allstate, Farmers and Travelers. You would be required to spend time going to each site individually and enter your policy data, which is why most consumers use the first method.
For a handy list of car insurance company links in your area, click here.
The least efficient method to get price estimates is physically going to and from local insurance agencies. Comparing online rate quotes eliminates this option unless you have a complicated situation and need the personal advice that only a licensed agent can provide. Some companies do allow you to find lower rates online but still have the advice of a local agent.
It’s up to you how you get prices quotes, just do your best to enter the same coverages for each comparison quote. If you are comparing higher or lower deductibles it will be very difficult to truly determine the lowest rate. Having just a slight variation in coverage limits may result in a large different in cost. And when quoting insurance, remember that quoting more provides better odds of finding more affordable insurance. Some companies don’t provide quotes online, so you should also compare prices from those companies as well.
Auto insurance providers like Progressive, Allstate and GEICO endlessly run ads on TV and radio. They all seem to make the point about how much you will save if you switch your coverage to them. It sounds good, but how can they all save you money? This is the trick they use.
Insurance providers have a certain “appetite” for the driver that earns them a profit. For instance, a driver they prefer could possibly be between the ages of 40 and 55, has other policies, and has a short commute. Anybody who meets those qualifications receive the lowest rate quotes and will save a lot if they switch.
Insureds who do not fit those criteria may be required to pay higher premium rates and the customer buying from a different company. The trick is to say “customers who switch” but not “all drivers who get quotes” will save that much if they switch. That’s the way insurance companies can make those statements. That is why it’s extremely important to compare rate quotes every year. Because you cannot predict with any certainty which company will have the lowest rate quotes.
Consumers need to have an understanding of the different types of things that come into play when calculating the price you pay for auto insurance. If you have a feel for what impacts premium levels, this empowers consumers to make smart changes that can earn you cheaper rates.
The itemized list below are some of the major factors auto insurance companies consider when setting your premiums.
Some providers don’t list all their discounts very well, so we took the time to find both well-publicized and the more hidden discounts that you may qualify for.
Remember that some credits don’t apply to your bottom line cost. Most only apply to individual premiums such as medical payments or collision. So despite the fact that it appears all those discounts means the company will pay you, companies don’t profit that way.
Some of the insurance companies that may include many of the previously listed discounts include:
When getting a coverage quote, ask every company what discounts are available to you. Some of the discounts discussed earlier may not be available in your area. If you would like to choose from a list of car insurance companies that provide some of the discounts listed above, click here to view.
When it comes to choosing adequate coverage, there really is no cookie cutter policy. Each situation is unique so your insurance should reflect that Here are some questions about coverages that might help in determining if you will benefit from professional help.
If you don’t know the answers to these questions but you know they apply to you, you might consider talking 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.
Understanding the coverages of your policy can be of help when determining the right coverages and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and nobody wants to actually read their policy. Listed below are typical coverages available from insurance companies.
Coverage for medical expenses – Coverage for medical payments and/or PIP kick in for short-term medical expenses like surgery, chiropractic care and funeral costs. They can be used in conjunction with a health insurance policy or if you do not have health coverage. It covers all vehicle occupants and also covers if you are hit as a while walking down the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
Liability coverage – Liability coverage will cover injuries or damage you cause to a person or their property by causing an accident. This insurance protects YOU against other people’s claims. It does not cover damage sustained by your vehicle in an accident.
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. You commonly see liability limits of 25/50/25 that means you have a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and $25,000 of coverage for damaged propery.
Liability coverage protects against claims such as attorney fees, bail bonds, medical services and pain and suffering. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.
Collision coverages – Collision coverage pays to fix your vehicle from damage resulting from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims like crashing into a ditch, rolling your car, crashing into a building and backing into a parked car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to choose a higher deductible in order to get cheaper collision rates.
Coverage for uninsured or underinsured drivers – This coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. Covered claims include medical payments for you and your occupants and also any damage incurred to your Volvo XC60.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages should not be overlooked.
Comprehensive insurance – Comprehensive insurance 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 protects against claims such as damage from getting keyed, fire damage, a broken windshield, vandalism and damage from flooding. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
In this article, we presented a lot of tips how to get a better price on 2016 Volvo XC60 insurance. The most important thing to understand is the more quotes you get, the better your chances of lowering your premium rates. Consumers may even find the lowest car insurance rates are with the least-expected company. These smaller insurers may cover specific market segments cheaper than their larger competitors like State Farm and Allstate.
Lower-priced 2016 Volvo XC60 insurance is attainable both online and from local insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some insurance companies may not offer price quotes online and usually these smaller providers provide coverage only through independent insurance agencies.
When shopping online for auto insurance, don’t be tempted to buy lower coverage limits just to save a few bucks. In many instances, drivers have reduced collision coverage and found out when filing a claim that it was a big mistake. Your goal is to buy a smart amount of coverage at an affordable rate.
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