Are you irritated from sacrificing other expenses to make your insurance coverage payment? You are in the same boat as many other consumers. Multiple insurance companies compete for your business, so it’s not easy to compare every provider to find the best price available.
Insuring your fleet can be pricey, but you might be missing out on some discounts that you may not even know about. Some of these disounts will be visible at the time of quoting, but some need to be specially asked for before you get the savings.
One thing to note about discounts is that most discount credits are not given to the overall cost of the policy. Most only reduce individual premiums such as collision or personal injury protection. So when the math indicates you could get a free car insurance policy, nobody gets a free ride. But all discounts should help reduce the amount you have to pay.
To see a list of insurers with significant discounts, click here.
When choosing proper insurance coverage, there is no “best” method to buy coverage. Each situation is unique and your policy should reflect that. Here are some questions about coverages that might help in determining if you may require specific advice.
If you can’t answer these questions but a few of them apply then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and can help protect your family.
Drivers can’t escape the ads for the lowest price car insurance by companies like State Farm and Allstate. They all seem to advertise the message about savings if you switch to them.
How can each company say the same thing?
Insurance companies provide the lowest rates for the type of insured that will most likely be profitable. For instance, this type of risk profile might be over the age of 50, has a clear driving record, and has great credit. Someone who matches those parameters will get very good premium rates and as a result will probably save when switching.
Drivers who don’t measure up to the requirements will probably be forced to pay higher rates which results in business not being written. If you pay close attention to the ads, they say “people who switch” not “everyone that quotes” save the amount stated. This is how insurance companies can advertise the savings.
Because of this risk profiling, you really should get as many free insurance quotes as possible. It’s impossible to know which company will be your best fit.
Having a good grasp of your insurance policy can help you determine the best coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Shown next are the usual coverages found on most insurance policies.
UM/UIM Coverage – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Collision coverage – This pays for damage to your Grand Prix resulting from colliding with an object or car. A deductible applies and then insurance will cover the remainder.
Collision coverage protects against things such as hitting a parking meter, sustaining damage from a pot hole and damaging your car on a curb. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to raise the deductible to bring the cost down.
Medical costs insurance – Med pay and PIP coverage reimburse you for bills for dental work, EMT expenses, chiropractic care, hospital visits and nursing services. The coverages can be utilized in addition to your health insurance program or if you are not covered by health insurance. They cover you and your occupants as well as if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Comprehensive or Other Than Collision – This covers damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims such as fire damage, hitting a deer, damage from flooding and damage from a tornado or hurricane. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Auto liability – Liability insurance provides protection from damage or injury you incur to people or other property that is your fault. This coverage protects you from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Occasionally you may see a combined limit which limits claims to one amount with no separate limits for injury or property damage.
Liability can pay for things like medical services, emergency aid, structural damage and repair bills for other people’s vehicles. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.
In this article, we covered a lot of techniques to get a better price on 1992 Pontiac Grand Prix insurance. It’s most important to understand that the more quotes you get, the higher the chance of saving money. Consumers may even find the best price on insurance coverage is with an unexpected company. These companies may only write in your state and offer lower prices compared to the large companies like GEICO and State Farm.
As you go through the steps to switch your coverage, it’s not a good idea to skimp on critical coverages to save a buck or two. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits and discovered at claim time that their decision to reduce coverage ended up costing them more. The goal is to get the best coverage possible at the best price, not the least amount of coverage.
Much more information about insurance coverage is located below: