Baffled by the wide range of car insurance companies that you can choose from? Drivers have so many companies available that it can turn into a real difficult job to find the best premium rates.
Buying car insurance is not that difficult. In a nutshell, anyone who carries insurance coverage will be able to cut their insurance bill. But vehicle owners must understand the way insurance companies price insurance differently because it can help you find the best coverage.
Smart consumers have a good feel for some of the elements that are used to determine the rates you pay for auto insurance. When you know what positively or negatively determines premiums, this empowers consumers to make smart changes that could result in lower rates. Lots of factors are used in the calculation when premium rates are determined. Most are fairly basic such as your driving history, but other criteria are more obscure like where you live or how financially stable you are.
Companies don’t list every discount they offer in a way that’s easy to find, so the next list breaks down some of the more common as well as the least known discounts you could be receiving when you buy insurance coverage online.
As a disclaimer on discounts, most credits do not apply to the entire cost. Most cut specific coverage prices like medical payments or collision. So when the math indicates you can get free auto insurance, it’s just not the way it works.
Companies and some of the discounts include:
When quoting, ask every prospective company which discounts they offer. A few discounts may not apply everywhere.
Big name companies like State Farm and Allstate seem to constantly run ads on television and other media. They all convey the message about saving some big amount just by moving to them. How does each company cost less than your current company? It’s all in the wording.
Auto insurance companies have specific guidelines for the type of driver that will be a good risk. For instance, a profitable customer should be over age 30, carries high limits, and drives less than 5,000 miles a year. Someone that hits that “sweet spot” will qualify for the lowest car insurance rates and therefore will save quite a bit of money when switching.
Insureds who may not quite match those criteria must pay higher premiums which translates to the driver buying from a lower-cost company. If you pay close attention to the ads, they say “people that switch” not “everybody who quotes” save that much. That is how companies can truthfully make those statements. This really drives home the point why it is so important to get insurance coverage quotes as often as possible. Because you cannot predict which auto insurance company will give you the biggest savings.
When buying coverage for your personal vehicles, there really is not a “perfect” insurance plan. Every situation is different.
For example, these questions might point out whether you may require specific advice.
If you’re not sure about those questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, complete this form.
Having a good grasp of your policy can be of help when determining the best coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance kick in for bills such as ambulance fees, nursing services, chiropractic care and doctor visits. The coverages can be used in conjunction with a health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Collision coverage will pay to fix damage to your S-Class from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage pays for things such as scraping a guard rail, crashing into a ditch, driving through your garage door and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to increase the deductible to get cheaper collision coverage.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. This coverage pays for injuries to you and your family as well as your vehicle’s damage.
Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is very important.
This coverage can cover damage that occurs to other’s property or people. This insurance protects YOU from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property.
Liability coverage pays for things such as loss of income, bail bonds, repair bills for other people’s vehicles, repair costs for stationary objects and structural damage. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as high a limit as you can afford.
Comprehensive coverage (or Other than Collision)
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like hail damage, rock chips in glass and fire damage. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
People who switch companies do it for many reasons like denial of a claim, being labeled a high risk driver, extreme rates for teen drivers or even poor customer service. No matter why you want to switch, choosing a new company is pretty easy and you might even save some money in the process.
We just presented many tips how you can save on 1994 Mercedes-Benz S-Class insurance. The key concept to understand is the more times you quote, the higher your chance of finding affordable insurance coverage. You may even find the best price on car insurance is with the smaller companies.
As you quote insurance coverage, it’s not a good idea to buy poor coverage just to save money. Too many times, an insured dropped uninsured motorist or liability limits and learned later they didn’t purchase enough coverage. Your strategy should be to buy enough coverage for the lowest cost, but do not sacrifice coverage to save money.