Feel like you’re a prisoner to an expensive insurance coverage policy? Trust us when we tell you many consumers are feeling buyer’s remorse and feel like there’s no way out. Big companies like State Farm, Progressive and GEICO promote their brand names with ads and it is challenging if not impossible to see past the corporate glitz and find the best price available.
Consumers should take time to compare prices on a regular basis since insurance prices are variable and change quite frequently. Just because you had the lowest rate for Escape insurance a year ago a different company probably has better premium rates today. Forget anything you know (or think you know) about insurance coverage because we’re going to demonstrate one of the quickest ways to buy cheaper insurance coverage.
Companies that sell car insurance don’t always list every available discount in an easy-to-find place, so the list below details a few of the more well known and the more hidden discounts that you may qualify for.
While discounts sound great, it’s important to understand that most discounts do not apply to all coverage premiums. Some only reduce individual premiums such as medical payments or collision. Even though it may seem like you would end up receiving a 100% discount, it just doesn’t work that way.
Large auto insurance companies and some of the discounts include:
If you want the cheapest insurance quotes, ask each company the best way to save money. Some of the discounts discussed earlier might not be available to policyholders in your state. If you would like to choose from a list of insurance companies that offer the discounts shown above, follow this link.
Lots of factors are used when you get your auto insurance bill. Some are pretty understandable such as your driving history, but some are less apparent such as whether you are married and annual miles driven.Part of the insurance coverage buying process is learning the factors that help determine the price you pay for insurance coverage. When consumers understand what determines base rates, this empowers consumers to make smart changes that can help you get cheaper rates.
The items below are some of the things used by your company to calculate your rate level.
When it comes to buying coverage for your personal vehicles, there is no best way to insure your cars. Your needs are not the same as everyone else’s so your insurance needs to address that. For example, these questions may help highlight whether you would benefit from an agent’s advice.
If you’re not sure about those questions, then you may want to think about talking to an insurance agent. If you don’t have a local agent, complete this form or go to this page to view a list of companies. It only takes a few minutes and may give you better protection.
Consumers get pounded daily by advertisements that claim the lowest rates by State Farm, Allstate and GEICO. All the ads make an identical promise that drivers will save a bundle if you get a free insurance quote and switch your car insurance policy to them.
How can each company cost less than your current company?
Insurance providers require specific criteria for the type of insured that will be a good risk. One example of a driver they prefer might be between the ages of 30 and 50, has no driving citations, and chooses high deductibles. Any customer who meets those qualifications will probably get the lowest auto insurance rates and will also save some money.
Potential customers who do not match these standards must pay higher premium rates which leads to business going elsewhere. The trick is to say “drivers who switch” not “all people who quote” can save as much as they claim. This is how companies can truthfully advertise the way they do.
This illustrates why you should get insurance quotes as often as possible. It’s just too difficult to predict which car insurance company will be your best fit.
Learning about specific coverages of your car insurance policy aids in choosing the right coverages for your vehicles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Shown next are the usual coverages found on the average car insurance policy.
UM/UIM (Uninsured/Underinsured Motorist) coverage – This protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Ford Escape.
Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family. Usually these coverages are set the same as your liablity limits.
Comprehensive auto coverage – This coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims such as hail damage, a tree branch falling on your vehicle, hitting a bird, damage from a tornado or hurricane and damage from getting keyed. The most a car insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for chiropractic care, prosthetic devices, EMT expenses, hospital visits and rehabilitation expenses. They are 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 being hit by a car walking across the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay
Collision coverages – This will pay to fix damage to your Escape caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against things such as driving through your garage door, sideswiping another vehicle, rolling your car, hitting a mailbox and crashing into a building. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to raise the deductible to get cheaper collision coverage.
Liability insurance – This coverage will cover damage that occurs to people or other property by causing an accident. It protects YOU from claims by other people. 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. Your policy might show limits of 50/100/50 that translate to $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Another option is one limit called combined single limit (CSL) which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability coverage pays for claims like bail bonds, repair costs for stationary objects and repair bills for other people’s vehicles. How much liability should you purchase? That is a personal decision, but buy as much as you can afford.
We just presented a lot of information how to lower your 2017 Ford Escape insurance prices. The key thing to remember is the more you quote insurance, the higher the chance of saving money. Consumers could even find that the lowest prices are with an unexpected company. They may have significantly lower rates on certain market segments as compared to the big name companies such as Progressive and GEICO.
As you quote insurance, do not buy less coverage just to save a little money. There are too many instances where consumers will sacrifice liability coverage limits to discover at claim time that it was a big mistake. Your goal should be to get the best coverage possible at an affordable rate while still protecting your assets.
More tips and info about car insurance is located by following these links: