No one in their right mind rejoices having to buy insurance coverage, especially when the prices are way too high.
With consumers having so many options when it comes to insurance coverage, it is very difficult to find the lowest cost insurance coverage provider.
It’s a good habit to do price comparisons once or twice a year because insurance rates change regularly. Just because you found the best premium rates for Venture coverage at your last renewal you can probably find a lower rate today. Block out anything you think you know about insurance coverage because we’re going to demonstrate one of the easiest ways to get good coverage at a lower rate.
The best way to find cheaper auto insurance is to take a look at the factors that go into determining your premiums. When you understand what controls the rates you pay, this allows you to make good choices that can earn you lower premium levels. Multiple criteria are part of the calculation when you quote your car insurance policy. Some are pretty understandable like your driving record, but other criteria are not as apparent like your vehicle usage and annual miles driven.
The items below are a few of the things used by insurance companies to determine your rates.
Some companies don’t always advertise every possible discount in a way that’s easy to find, so the below list has both the well known as well as some of the hidden discounts you could be receiving when you buy insurance coverage online. If you aren’t receiving every discount you qualify for, you could be saving more on your insurance coverage.
You should keep in mind that most discounts do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like comp or med pay. Even though it may seem like you would end up receiving a 100% discount, companies don’t profit that way.
A partial list of companies that may have these money-saving discounts possibly include:
If you need lower rates, check with each company which discounts can lower your rates. Discounts might not apply in your area.
Big name companies like Allstate and Progressive continually stream television, radio, and online ads. All the companies seem to make the promise about how much you will save if you just switch your policy. But how can every company give you a better price? It’s all in the words they use.
Insurance companies quote their cheapest rates for the type of customer that will add to their bottom line. One example of a profitable insured could be over the age of 45, carries high limits, and drives a lower-performance vehicle. A driver that hits that “sweet spot” may get the lowest prices as well as save if they switch.
Drivers who are not a match for the “perfect” profile will probably be forced to pay higher premium rates and this can result in the customer buying from someone else. The trick companies use is to say “customers that switch” not “everyone that quotes” save money. That’s why insurance companies can make those claims. Because of the profiling, it is so important to get insurance coverage quotes from several different companies. Because you cannot predict which auto insurance company will have better car insurance rates than you’re paying now.
When choosing adequate coverage, there really is not a “perfect” insurance plan. Each situation is unique so your insurance needs to address that. For instance, these questions might point out whether your personal situation will benefit from professional help.
If you’re not sure about those questions but you know they apply to you, you may need to chat with a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier
Having a good grasp of your insurance policy aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be confusing and reading a policy is terribly boring. These are typical coverage types found on most insurance policies.
Collision coverage covers damage to your Venture resulting from a collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things such as sustaining damage from a pot hole, hitting a mailbox, rolling your car and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. You can also choose a higher deductible to get cheaper collision coverage.
Liability insurance provides protection from damage that occurs to people or other property. This insurance protects YOU against claims from other people, and doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.
Liability insurance covers claims such as legal defense fees, bail bonds, court costs, attorney fees and loss of income. The amount of liability coverage you purchase is up to you, but buy as much as you can afford.
Protection from uninsured/underinsured drivers
This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants as well as damage to your Chevy Venture.
Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is important protection for you and your family.
Comprehensive (Other than Collision)
This pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive insurance covers things such as rock chips in glass, a broken windshield, falling objects, hitting a bird and a tree branch falling on your vehicle. The maximum amount your insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.
Medical expense insurance
Coverage for medical payments and/or PIP kick in for bills like dental work, doctor visits, funeral costs, nursing services and chiropractic care. They are often used to fill the gap from your health insurance plan or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is not universally available and may carry a deductible
When searching for affordable insurance coverage quotes, it’s a bad idea to skimp on critical coverages to save a buck or two. In many cases, drivers have reduced full coverage only to discover later they didn’t have enough coverage. Your goal should be to purchase plenty of coverage at the best possible price, not the least amount of coverage.
Some insurance companies do not offer rates over the internet and most of the time these smaller companies only sell through local independent agents. Budget-friendly car insurance can be sourced both online as well as from insurance agents, and you should be comparing both so you have a total pricing picture.
More information is available at the links below