Are you overwhelmed by the crazy number of insurance coverage choices? There are such a vast assortment of choices available that it can really be more work than you anticipated to find lower rates.
This information will instruct you on how car insurance quotes work and some tips to save money. If you currently have car insurance, you will be able to cut costs considerably using these methods. Although drivers can benefit from knowing how big insurance companies price online insurance because it can help you find the best coverage.
There are multiple methods to compare insurance prices but one way is easier and takes less work. You could waste a few hours driving to local insurance agents in your area, or you can stay home and use online quoting to get pricing more quickly.
Most car insurance companies enroll in a system where prospective buyers only type in their quote data once, and each participating company returns a rated price based on that information. This prevents consumers from doing repetitive form submissions to every company.
To fill out one form to compare multiple rates now click here (opens in new window).
The one disadvantage to using this type of system is you cannot specify the providers you want pricing from. So if you prefer to choose from a list of companies to compare, we have a listing of the cheapest insurance companies in your area. Click to view list.
Take whichever approach you prefer, but do your best to use the same coverage data for each price quote. If the quotes have mixed coverages you can’t possibly determine the best price for your Chevy Corvette. Quoting even small variations in limits may cause a big price difference. Just remember that more quotes will enable you to find the best rates.
When choosing coverage for your personal vehicles, there isn’t really a cookie cutter policy. Every situation is different.
For example, these questions might point out if your insurance needs would benefit from an agent’s advice.
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form.
Learning about specific coverages of your car insurance policy can help you determine the best coverages for your vehicles. The terms used in a policy can be difficult to understand and reading a policy is terribly boring.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is important protection for you and your family. Usually these coverages are set the same as your liablity limits.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses such as ambulance fees, dental work, doctor visits, hospital visits and rehabilitation expenses. They are used in conjunction with a health insurance program or if you are not covered by health insurance. They cover you and your occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
Collision coverage protection
Collision coverage pays for damage to your Corvette resulting from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as scraping a guard rail, sideswiping another vehicle and hitting a parking meter. Collision is rather expensive coverage, so consider dropping it from older vehicles. It’s also possible to increase the deductible in order to get cheaper collision rates.
Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive can pay for things such as hitting a bird, damage from getting keyed and hitting a deer. The highest amount a car insurance company will pay at claim time 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.
Coverage for liability
Liability coverage protects you from damage that occurs to a person or their property in an accident. This coverage protects you from claims by other people, and doesn’t cover damage to your own property or vehicle.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.
Liability coverage protects against things like legal defense fees, funeral expenses and court costs. How much coverage you buy is your choice, but it’s cheap coverage so purchase as much as you can afford.