If online auto insurance comparisons are new to you, chances are good that you are overwhelmed of online auto insurance companies and websites vying for business.
It’s a good idea to quote other rates as often as possible because insurance prices are usually higher with each renewal. Despite the fact that you may have had the best deal on Cutlass coverage a year ago you can probably find a lower rate today. Block out anything you think you know about auto insurance because you’re about to find out how to use the internet to find great coverage at a great price.
It’s important that you understand some of the factors that come into play when calculating insurance coverage rates. When consumers understand what determines base rates, this enables informed choices that can help you get lower premium levels. Many different elements are part of the calculation when premium rates are determined. Some of the criteria are obvious like an MVR report, although some other factors are less obvious such as your marital status or your vehicle rating.
The following are some of the things companies use to determine prices.
Companies don’t always advertise every discount in a way that’s easy to find, so below is a list a few of the more well known and the more hidden credits that you can use to lower your rates.
As a sidenote, most of the big mark downs will not be given to the overall cost of the policy. A few only apply to specific coverage prices like physical damage coverage or medical payments. Just because it seems like you can get free auto insurance, it doesn’t quite work that way.
Larger car insurance companies and their offered discounts are included below.
When getting free insurance quotes, it’s a good idea to each company which discounts they offer. Discounts might not apply in your state.
When it comes to buying proper insurance coverage, there is no one size fits all plan. Everyone’s situation is a little different.
For instance, these questions may help highlight if your insurance needs would benefit from professional advice.
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent. If you don’t have a local agent, take a second and complete this form.
Learning about specific coverages of your insurance policy aids in choosing the best coverages at the best deductibles and correct limits. Policy terminology can be confusing and coverage can change by endorsement.
Collision coverage protection
Collision insurance pays for damage to your Cutlass caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against things such as driving through your garage door, colliding with another moving vehicle and scraping a guard rail. This coverage can be expensive, so you might think about dropping it from older vehicles. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Uninsured/Underinsured Motorist (UM/UIM)
This provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your 1997 Oldsmobile Cutlass.
Since many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually these coverages are identical to your policy’s liability coverage.
Auto liability insurance
This provides protection from damage or injury you incur to other people or property that is your fault. This coverage protects you from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see limits of 100/300/100 which means a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property. Another option is a combined limit which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers things such as court costs, attorney fees, structural damage and legal defense fees. How much liability coverage do you need? That is a decision to put some thought into, but consider buying as high a limit as you can afford.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance pay for expenses for things like nursing services, hospital visits, pain medications, doctor visits and rehabilitation expenses. They can be used in conjunction with a health insurance program or if you do not have health coverage. It covers you and your occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims such as falling objects, damage from flooding, a tree branch falling on your vehicle and hitting a deer. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
As you go through the steps to switch your coverage, never skimp on coverage in order to save money. In many instances, someone dropped comprehensive coverage or liability limits and learned later that their decision to reduce coverage ended up costing them more. The goal is to buy enough coverage for the lowest cost, but do not skimp to save money.
People leave their current company for a number of reasons such as high rates after DUI convictions, high prices, extreme rates for teen drivers or even poor customer service. It doesn’t matter why you want to switch choosing a new company can be easier than you think.
There are still a few companies who may not have rates over the internet and many times these smaller companies only sell coverage through independent insurance agencies. Budget-conscious 1997 Oldsmobile Cutlass insurance can be purchased on the web as well as from independent agents, so compare prices from both to get a complete price analysis.
Much more information about car insurance is available at the links below