Did a good deal turn into high-priced car insurance? Believe me, you are not the only one feeling buyer’s remorse. Insurance companies such as State Farm, Farmers Insurance, GEICO and Allstate constantly bombard you with advertising and it can be hard to separate fact from fiction and do the work needed to find the best deal.
Insurance can be prohibitively expensive, but there could be significant discounts that can help lower your rates. Certain discounts will be triggered automatically when you quote, but once in a while a discount must be inquired about prior to receiving the credit.
One thing to note about discounts is that some credits don’t apply to the overall cost of the policy. Most only apply to individual premiums such as medical payments or collision. Even though the math looks like all the discounts add up to a free policy, it’s just not the way it works.
To see a list of car insurance companies who offer cheap car insurance quotes, click here to view.
When it comes to buying adequate coverage, there really is no cookie cutter policy. Every insured’s situation is different and your policy should reflect that. Here are some questions about coverages that can help discover whether your personal situation might need professional guidance.
If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area. It only takes a few minutes and you can get the answers you need.
Having a good grasp of your auto insurance policy can help you determine the right coverages and the correct deductibles and limits. Auto insurance terms can be confusing and reading a policy is terribly boring. Shown next are typical coverage types offered by auto insurance companies.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses for hospital visits, surgery and EMT expenses. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants as well as being hit by a car walking across the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
Comprehensive coverage – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things such as damage from getting keyed, fire damage, hitting a bird and vandalism. The most a auto insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants and damage to your 2004 Chevy S-10.
Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Collision coverage – Collision insurance pays to fix your vehicle from damage caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like colliding with another moving vehicle, sustaining damage from a pot hole and hitting a parking meter. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. Another option is to choose a higher deductible in order to get cheaper collision rates.
Auto liability – Liability coverage can cover damage or injury you incur to people or other property that is your fault. It protects YOU against claims from other people. It does not 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. Your policy might show values of 100/300/100 which means $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery.
Liability insurance covers claims like repair costs for stationary objects, emergency aid, loss of income and legal defense fees. How much coverage you buy is up to you, but you should buy as large an amount as possible.
In this article, we presented quite a bit of information on how to reduce 2004 Chevy S-10 insurance rates online. The key concept to understand is the more you quote insurance coverage, the better likelihood of getting cheap insurance coverage. You may even find the lowest rates are with the least-expected company. Some small companies may only write in your state and offer lower auto insurance rates than their larger competitors like Progressive or GEICO.
As you go through the steps to switch your coverage, it’s very important that you do not sacrifice coverage to reduce premiums. In many instances, someone dropped comprehensive coverage or liability limits and learned later that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to get the best coverage possible at the lowest possible cost but still have enough coverage for asset protection.
Budget-friendly car insurance is attainable on the web and from local insurance agents, so you need to shop insurance coverage with both in order to have the best chance of saving money. Some companies may not offer the ability to get quotes online and many times these smaller providers prefer to sell through independent agents.
More detailed car insurance information can be found in these articles: