Have you had enough of scraping nickels together to insure your Mercury every month? You are no different than many other drivers.
Vehicle owners have multiple insurers to choose from, and although it’s nice to be able to choose, having more auto insurance companies makes it harder to compare rates.
Buying the lowest cost coverage is not that difficult. In a nutshell, everyone who buys auto insurance stands a good chance to be able to lower their premiums. But consumers need to have an understanding of the way companies price online insurance and apply this information to your search.
The quickest method to compare policy rates is to understand most larger insurance companies participate in a system to give rate comparisons. To start a quote, the only thing you need to do is give them some information including deductibles desired, your credit rating estimate, how much you drive, and whether you are married. The data gets transmitted to multiple companies and you will receive price estimates instantly.
Auto insurance is neither fun to buy or cheap, but discounts can save money and there are some available to help bring down the price. A few discounts will automatically apply when you get a quote, but some need to be asked for in order for you to get them. If you’re not getting every credit possible, you’re just leaving money on the table.
Keep in mind that some credits don’t apply to the entire policy premium. Most cut the cost of specific coverages such as comprehensive or collision. Even though the math looks like having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.
A list of companies and a summarized list of policyholder discounts are included below.
Before buying, ask every company what discounts are available to you. Some credits may not apply to policyholders in your area. To find insurers that offer multiple discounts, click here to view.
When choosing the best insurance coverage coverage for your personal vehicles, there really is not a “best” method to buy coverage. Your needs are not the same as everyone else’s and your policy should reflect that. For example, these questions can help discover if you would benefit from professional advice.
If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.
Learning about specific coverages of insurance can help you determine which coverages you need for your vehicles. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Listed below are the usual coverages available from insurance companies.
Insurance for medical payments – Coverage for medical payments and/or PIP provide coverage for expenses like chiropractic care, nursing services and EMT expenses. They can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants as well as any family member struck as a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
Liability auto insurance – This coverage provides protection from injuries or damage you cause to a person or their property. It protects YOU from legal claims by others. It does not cover your injuries or vehicle damage.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 25/50/25 which stand for $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $25,000. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount without having the split limit caps.
Liability coverage pays for things such as legal defense fees, loss of income, repair costs for stationary objects, court costs and medical expenses. How much liability coverage do you need? That is your choice, but consider buying as high a limit as you can afford.
Uninsured Motorist or Underinsured Motorist insurance – Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.
Comprehensive coverage (or Other than Collision) – This coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like hitting a deer, hail damage, theft and damage from a tornado or hurricane. The most a insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Collision coverages – Collision insurance covers damage to your Cougar resulting from a collision with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers things such as rolling your car, crashing into a ditch, sideswiping another vehicle, damaging your car on a curb and hitting a mailbox. Collision is rather expensive coverage, so consider dropping it from vehicles that are 8 years or older. It’s also possible to increase the deductible to bring the cost down.