Did a good deal turn into an underperforming, overpriced insurance policy? Don’t feel bad because there are many consumers feeling the pinch from expensive insurance.
Numerous insurance companies battle for your business, and it can be difficult to compare rates and get the definite best rates possible.
If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using these techniques. Buying car insurance is quite easy. But consumers can benefit by having an understanding of the way companies price insurance differently and use this information to your advantage.
The best way we recommend to compare policy rates is to know most larger insurance companies provide online access to give free rates quotes. To begin a comparison, all you need to do is provide the companies a bit of rating information such as how your vehicles are used, if you went to college, if it has an anti-theft system, and if the vehicle is leased. That information is automatically sent to insurance carriers in your area and you will get price comparisons within a short period of time.
Respected companies like GEICO, State Farm and Progressive seem to constantly run ads on TV and radio. All the companies make the same claim that you can save if you move your coverage. How is it plausible that every one can lower your rates? It’s all in how they say it.
Many companies have specific guidelines for a prospective insured that will be a good risk. One example of this type of risk profile could possibly be a married male, has a clear driving record, and has a short commute. Any customer who matches those parameters will get very good rates and will also pay quite a bit less when switching companies.
Drivers who do not fit the requirements may be required to pay higher rates with the end result being the customer buying from someone else. If you listen to the ad wording, they say “people who switch” not “everyone who quotes” save the amount stated. This is how companies can advertise the way they do. Because of the profiling, you absolutely need to compare as many free insurance coverage quotes as you can. It is impossible to guess which company will provide you with the cheapest rates.
Insuring your vehicles can cost a lot, but you may be missing some discounts that could drop your premiums quite a bit. Certain reductions will be credited when you get a quote, but a few need to be specially asked for in order for you to get them.
Policy discounts save money, but some credits don’t apply to your bottom line cost. Most only cut individual premiums such as comprehensive or collision. So even though you would think you could get a free insurance coverage policy, that’s just not realistic.
Large insurance coverage companies and a partial list of their discounts are included below.
If you want the cheapest insurance coverage quotes, ask all companies you are considering which discounts you may be entitled to. Some of the earlier mentioned discounts might not be available to policyholders in your area. If you would like to see a list of companies that offer discounts, follow this link.
When it comes to buying the best insurance coverage for your vehicles, there isn’t really a one size fits all plan. Every insured’s situation is different so your insurance needs to address that. These are some specific questions can help discover whether you would benefit from professional advice.
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you want to speak to an agent in your area, complete this form or go to this page to view a list of companies.
Learning about specific coverages of your policy can be of help when determining the right coverages for your vehicles. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are the usual coverages found on the average auto insurance policy.
Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like rock chips in glass, theft, a broken windshield and damage from a tornado or hurricane. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Personal Injury Protection (PIP) and medical payments coverage kick in for bills for hospital visits, ambulance fees, surgery and prosthetic devices. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers all vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay
Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Dodge Stratus.
Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Liability insurance will cover damages or injuries you inflict on a person or their property in an accident. Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see policy limits of 50/100/50 that means you have $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.
Liability coverage protects against things such as structural damage, funeral expenses, bail bonds and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.
This covers damage to your Stratus caused by collision with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision can pay for things such as crashing into a building, colliding with another moving vehicle and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to bump up the deductible to get cheaper collision coverage.
As you shop your coverage around, never skimp on coverage in order to save money. In too many instances, an insured dropped liability limits or collision coverage only to discover later that the few dollars in savings costed them thousands. The aim is to buy enough coverage at an affordable rate, not the least amount of coverage.
We just covered some good ideas how to save on 2005 Dodge Stratus insurance. The most important thing to understand is the more providers you compare, the higher the chance of saving money. You may be surprised to find that the best rates are with an unexpected company. Regional companies may cover specific market segments cheaper than the large multi-state companies such as Progressive or GEICO.