Lower Your 2018 FIAT 124 Spider Car Insurance Cost

Looking for the cheapest insurance coverage rates for your FIAT 124 Spider? Cutting costs on insurance coverage could be challenging for beginners to quoting coverage prices online. Drivers have so many choices that it can easily become a big hassle to find cheaper prices.

How your 124 Spider insurance rates are determined

Many different elements are part of the calculation when you get a price on insurance. Some factors are common sense such as traffic violations, but other criteria are more obscure such as whether you are married or your financial responsibility.It’s important that you understand the different types of things that aid in calculating your premiums. If you have a feel for what determines base rates, this empowers consumers to make smart changes that will entitle you to much lower annual insurance costs.

The following are some of the most rate-impacting factors that factor into your premiums.

• Multiple policies with one company – Most larger insurers will give lower prices to insureds that purchase more than one policy, otherwise known as a multi-policy discount. The amount of the discounts can be five, ten or even twenty percent. Even with this discount, it’s still a good idea to check prices from other companies to help guarantee you have the best rates. You may still be able to find lower rates by buying from different companies
• You might get higher rates if you are single – Having a wife or husband may cut your premiums when shopping for auto insurance. Having a spouse means you’re more mature than a single person and insurance companies like that married couples file fewer claims.
• How your age affects rates – Young drivers are statistically shown to be careless and easily distracted when driving with friends so auto insurance rates are higher. Adding a beginning driver to your auto insurance policy will cause a huge premium hike. Older drivers are more responsible, cause fewer claims and accidents , and usually have better credit.
• Can a thief steal your car? – Owning a car that has an advanced theft prevention system can earn a premium discount. Theft deterrent systems such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can help prevent vehicle theft.
• Higher physical damage deductibles lower rates – Physical damage coverage, also called comprehensive and collision insurance, covers your vehicle from damage. Some examples of claims that would be covered are running into the backend of another car, vandalism, and rolling your vehicle. Deductibles for physical damage are the amount of money you are required to spend out-of-pocket if a claim is determined to be covered. The larger the amount you are required to pay out-of-pocket, the lower your rates will be on 124 Spider coverage.
• Obey driving laws and save – Good drivers pay less for auto insurance as compared to those with violations. Having just one driving citation can boost insurance rates twenty percent or more. Drivers with severe violations such as reckless driving or DUI may need to submit a SR-22 or proof of financial responsibility with their state in order to legally drive a vehicle.

How to buy auto insurance

There are a variety of methods you can shop for auto insurance and some are more efficient than others. You can spend your afternoon discussing policy coverages with local insurance agents in your area, or you could use the web to get rates in a matter of minutes.

Many insurance companies participate in an industry program where insurance shoppers submit their information once, and each company then returns a price quote based on that data. This eliminates the need for form submissions to every company. To compare pricing click here to start a free quote.

The one disadvantage to using this type of system is you cannot specify which providers to receive prices from. So if you prefer to pick from a list of companies for rate comparison, we have assembled a list of companies who write auto insurance in your area. Click here for list of insurance companies.

Take whichever approach you prefer, but be sure to compare equivalent coverage data with every price quote. If your comparisons have different liability limits you can’t possibly determine the lowest rate for your FIAT 124 Spider. Slightly different limits may result in a large different in cost. And when comparing auto insurance rates, know that comparing more quotes helps improve the odds of finding a better price.

Truth in auto insurance advertising

Well-known auto insurance companies like 21st Century, Allstate and State Farm seem to constantly run ads in print and on television. They all state the claim that drivers will save a bundle after switching your auto insurance coverage to their company. Is it even possible that every company can make almost identical claims?

All companies provide the lowest rates for the type of driver that earns them the most money. For example, this type of insured may be over the age of 45, has had continuous coverage, and drives a vehicle with a low ISO rating. A customer who matches that profile will probably get cheap rates and will also save if they switch.

Drivers who do not match this ideal profile may be required to pay higher rates and this can result in the prospect going elsewhere. If you listen to the ad wording, they say “people who switch” but not “all drivers who get quotes” save that much money. That is how companies can advertise the savings.

Because of these techniques, drivers must get price quotes at each policy renewal. It’s just not possible to know which insurance companies will have the lowest rates.

You may qualify for discounts

Companies offering auto insurance don’t necessarily list the entire discount list in a way that’s easy to find, so the following list contains a few of the more common and the harder-to-find credits that may apply to you.

• Multiple Cars – Purchasing coverage when you have primary and secondary vehicles on the same auto insurance policy may reduce the rate for each vehicle.
• Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn lower premium rates if you buy auto and life insurance together.
• Early Renewal Discounts – Select companies give a discount for buying a policy before your current expiration date. The savings is around 10%.
• Senior Citizen Rates – Drivers that qualify as senior citizens are able to get a discount up to 10% on 124 Spider coverage.
• Government Employees – Federal government employees could provide a small rate reduction on 124 Spider coverage depending on your auto insurance provider.
• Anti-lock Brake System – Anti-lock brake equipped vehicles prevent accidents and qualify for as much as a 10% discount.

As is typical with insurance, most discounts do not apply to your bottom line cost. The majority will only reduce individual premiums such as comprehensive or collision. So even though they make it sound like adding up those discounts means a free policy, you’re out of luck.

Companies that may include these benefits possibly include:

• Farmers Insurance
• State Farm
• Liberty Mutual
• MetLife
• Progressive

When quoting, ask every company how many discounts you can get. Some discounts may not be available in your state. To locate insurance companies who offer auto insurance discounts, click this link.

There’s no such thing as the perfect insurance coverage policy

When choosing the right insurance coverage, there is no perfect coverage plan. Everyone’s needs are different.

Here are some questions about coverages that may help highlight if you might need an agent’s assistance.

• What vehicles should carry emergency assistance coverage?
• When do I need to add a new car to my policy?
• Does coverage extend to my business vehicle?
• Am I covered if I wreck a rental car?
• Do I have coverage for damage caused while driving under the influence?
• Am I insured when driving a different vehicle?

If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with an agent. If you don’t have a local agent, take a second and complete this form.

Specifics of your car insurance policy

Knowing the specifics of your policy can help you determine the right coverages and the correct deductibles and limits. Car insurance terms can be impossible to understand and nobody wants to actually read their policy.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage provide coverage for immediate expenses such as doctor visits, pain medications, prosthetic devices and nursing services. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Comprehensive insurance

This pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things such as damage from a tornado or hurricane, fire damage, damage from getting keyed and falling objects. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Liability coverage

This provides protection from damage or injury you incur to a person or their property by causing an accident. It protects you against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 100/300/100 which means $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.

Liability insurance covers claims such as structural damage, repair costs for stationary objects, medical services, court costs and loss of income. How much liability coverage do you need? That is a personal decision, but buy as much as you can afford.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries to you and your family and damage to your FIAT 124 Spider.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Frequently these coverages do not exceed the liability coverage limits.

Collision coverage protection

This covers damage to your 124 Spider resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.

Collision coverage pays for claims like scraping a guard rail, colliding with a tree, backing into a parked car and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to get cheaper collision coverage.

The bottom line

When searching for the cheapest insurance coverage quotes, you should never buy lower coverage limits just to save a few bucks. In many instances, someone sacrificed collision coverage and learned later that it was a big mistake. Your goal should be to purchase plenty of coverage at the best cost, not the least amount of coverage.

People switch companies for any number of reasons including poor customer service, an unsatisfactory settlement offer, delays in responding to claim requests and lack of trust in their agent. It doesn’t matter why you want to switch finding a great new company is less work than it seems.

Discount 2018 FIAT 124 Spider insurance can be bought from both online companies as well as from independent agents, and you need to price shop both to have the best chance of lowering rates. There are still a few companies who do not offer price quotes online and usually these regional carriers sell through independent agents.

To read more, feel free to browse these articles:

• Auto Insurance Facts and Statistics (Insurance Information Insitute)
• How to Avoid Buying a Flooded Car (Insurance Information Insitute)
• Determining Your Vehicle’s Value and Repair Cost (Insurance Information Insitute)
• Understanding Limits and Deductibles (Allstate)
• Alcohol Impaired Driving FAQ (iihs.org)
• Property Damage Coverage (Liberty Mutual)