2004 Mitsubishi Lancer Sportback Insurance Cost

Did you come to the realization that you have overpriced insurance? It’s quite common and many consumers are feeling buyer’s remorse and feel like there’s no way out. There are many insurance companies to purchase coverage from, and although it’s nice to have a selection, it makes it harder to find the best rates.

Smart consumers take time to price shop coverage before your next renewal because rates change regularly. Even if you got the best premium rates on Lancer Sportback coverage a few years ago you may be paying too much now. You can find a lot of information about insurance on the web, but by reading this article, you’re going to learn some excellent ideas to lower your insurance bill.

Shopping for more affordable coverage can be fairly easy. If you have insurance now or need a new policy, you can use this information to shop for the lowest rates while maximizing coverage. Drivers just need to know the proper methods to compare price quotes online.

Lower rate quotes by applying discounts

Some insurance providers don’t always list every disount available in an easy-to-find place, so here is a list both the well known in addition to some of the lesser obvious discounts that may be available.

  • Multi-Vehicle Discounts – Buying a policy with multiple vehicles on one policy qualifies for this discount.
  • Federal Employees – Active or former government employment could provide a small rate reduction on Lancer Sportback coverage with some car insurance companies.
  • Accident Forgiveness Coverage – Not a discount per se, but some companies like Liberty Mutual, Allstate and State Farm will turn a blind eye to one accident before raising your premiums so long as you haven’t had any claims for a set time period.
  • Buy New and Save – Buying a new car model may earn a small discount because newer vehicles keep occupants safer.
  • Discount for Low Mileage – Maintaining low annual mileage could be rewarded with substantially lower premium rates.
  • Drivers Education – Cut your cost by having your teen driver participate in a local driver’s education class in high school.
  • Seat Belts Save more than Lives – Drivers who require all occupants to buckle up before driving can save 10% or more off the PIP or medical payment premium.
  • Military Rewards – Being on active duty in the military can result in better rates.
  • Multi-line Discount – Not all insurance carriers offer life insurance, but some may give you lower car insurancerates if you buy some life insurance in addition to your auto policy.
  • Club Memberships – Being a member of a civic or occupational organization may earn a discount on your next renewal.

As a sidenote, some credits don’t apply to the entire policy premium. Most only reduce the cost of specific coverages such as medical payments or collision. Despite the appearance that all those discounts means the company will pay you, that’s just not realistic.

Large car insurance companies and some of their more popular discounts can be read below.

  • State Farm offers premium reductions for driver’s education, defensive driving training, good driver, accident-free, anti-theft, multiple policy, and Steer Clear safe driver discount.
  • Liberty Mutual has savings for good student, new move discount, multi-policy, newly retired, exclusive group savings, and new graduate.
  • American Family includes discounts for air bags, multi-vehicle, defensive driver, bundled insurance, and TimeAway discount.
  • Progressive may have discounts that include homeowner, good student, online signing, continuous coverage, online quote discount, and multi-policy.
  • Farmers Insurance has discounts for early shopping, mature driver, multi-car, homeowner, pay in full, distant student, and switch companies.
  • Auto-Owners Insurance discounts include good student, paperless, multi-policy, teen driver, and mature driver.
  • SAFECO may offer discounts for homeowner, safe driver, multi-car, accident prevention training, drive less, and bundle discounts.

Check with each company or agent to give you their best rates. Some discounts listed above might not be offered on policies everywhere.

How to buy auto insurance

All major auto insurance companies make it easy to get prices for coverage online. The process is quite easy as you simply enter your coverage preferences into the quote form. Behind the scenes, their system collects reports for credit and driving violations and provides a quote based on the data you entered. Online quotes makes it a lot easier to compare rates but the time required to go to multiple sites and fill out multiple forms is repetitive and time-consuming. Unfortunately, it is important to do this if you are searching for the best price possible.

There is a better way!

A better way to get multiple rate quotes makes use of a single form to get prices from a lot of companies. It saves time, requires much less work on your part, and makes price shopping online much more efficient. Immediately after submitting the form, your coverage is rated with multiple companies and you can pick any one of the quote results.

If a lower price is quoted, you can simply submit the application and buy the policy. The whole process only takes a few minutes and may result in a nice savings.

If you want to use this form to compare rates, simply click here to open in new window and enter your vehicle and coverage information. If you have coverage now, it’s recommended you copy deductibles and limits just like they are on your policy. Using the same limits helps guarantee you will have rate quotes for similar coverage.

Four things that determine your insurance rates

Multiple criteria are taken into consideration when you quote your car insurance policy. Some factors are common sense like your driving record, but others are more transparent such as your credit history or your financial responsibility.

The list below includes some of the factors used by companies to determine your premiums.

  • Lower premiums for safer vehicles – Cars with five star safety ratings cost less to insure. The safest vehicles result in less severe injuries and better occupant protection means lower claim amounts and more competitive rates for policyholders. If your Mitsubishi Lancer Sportback is rated at least an “acceptable” rating on the Insurance Institute for Highway Safety website it may be receiving lower rates.
  • A car insurance lapse can increase rates – Allowing your car insurance policy to lapse can be a fast way to drive up your policy premiums. Not only will you pay higher rates, failure to provide proof of insurance can result in a fine, jail time, or a revoked license.
  • Filing claims can cost you more – Car insurance companies provide lower rates to people who are claim-free. If you’re an insured who likes to file claims you can expect either higher rates or even cancellation. Your insurance policy is meant to be used in the event of claims that pose a financial burden.
  • Car insurance rates and your job – Jobs such as fire fightersairline pilots and emergency personnel generally have higher rates than the rest of us attributed to intense work-related stress and extremely grueling work hours. On the flip side, occupations like farmers, engineers and the unemployed generally pay rates lower than average on Lancer Sportback coverage.

Your car insurance coverage should be tailored to you

When it comes to buying adequate coverage for your vehicles, there is no cookie cutter policy. Every situation is different so this has to be addressed. These are some specific questions might help in determining if your situation would benefit from an agent’s advice.

  • I have a DUI can I still get coverage?
  • Is a new car covered when I drive it off the dealer lot?
  • What can I do if my company won’t pay a claim?
  • What is covered by UM/UIM coverage?
  • Is my cargo covered for damage or theft?
  • Are my friends covered when driving my 2004 Mitsubishi Lancer Sportback?

If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and may give you better protection.

Why you might not save $408 a year

Drivers constantly see and hear ads that promise big savings by companies like State Farm, Allstate and GEICO. All the ads state the claim that people will save just by switching your coverage.

How can each company give you a lower rate?

Insurance companies give the cheapest rates for the type of driver that will most likely be profitable. A good example of a profitable risk profile could possibly be over age 30, has a low-risk occupation, and drives a safe vehicle. A driver that matches those criteria gets the lowest prices and will most likely pay quite a bit less when switching companies.

Insureds who don’t meet this ideal profile will have to pay a higher premium and this can result in the driver buying from a lower-cost company. The ads say “customers who switch” not “everyone that quotes” save the amount stated. This is how companies can make those statements.

This really emphasizes why you should get as many free auto insurance quotes as possible. It’s impossible to know which car insurance company will have better rates than you’re paying now.

Car insurance 101

Having a good grasp of auto insurance helps when choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverage types offered by auto insurance companies.

Collision coverage

This coverage covers damage to your Lancer Sportback from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision coverage pays for things such as crashing into a ditch, crashing into a building and backing into a parked car. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. It’s also possible to bump up the deductible in order to get cheaper collision rates.

Comprehensive insurance

This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as a tree branch falling on your vehicle, hitting a deer and vandalism. The most your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Liability car insurance

This coverage protects you from damages or injuries you inflict on other’s property or people in an accident. It protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 that translate to $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have a combined single limit or CSL which provides one coverage limit and claims can be made without the split limit restrictions.

Liability insurance covers claims such as court costs, repair bills for other people’s vehicles, funeral expenses and legal defense fees. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as large an amount as possible.

Med pay and Personal Injury Protection (PIP)

Med pay and PIP coverage provide coverage for expenses like rehabilitation expenses, ambulance fees, dental work, X-ray expenses and hospital visits. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants and also covers any family member struck as a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

This coverage provides protection when other motorists either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Mitsubishi Lancer Sportback.

Since a lot of drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Frequently these coverages are identical to your policy’s liability coverage.

Feed the piggy bank

While you’re price shopping online, you should never reduce coverage to reduce premium. Too many times, drivers have reduced comprehensive coverage or liability limits only to find out that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to buy enough coverage for the lowest cost and still be able to protect your assets.

In this article, we presented a lot of ways to compare 2004 Mitsubishi Lancer Sportback insurance rates online. The key concept to understand is the more rate quotes you have, the better your comparison will be. Consumers may even find the lowest rates are with a lesser-known regional company. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate, GEICO and Progressive.

Lower-priced insurance can be sourced online and from local insurance agents, and you need to comparison shop both to have the best selection. Some insurance companies do not offer online quoting and these small, regional companies prefer to sell through independent agencies.

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