Did a good deal turn out to be overpriced car insurance? It’s a common feeling and there are many people just like you.
Because you have many choices of insurance companies, it can be diffult for people to find the most cost effective company.
It’s smart to price shop coverage once or twice a year because prices are rarely the same from one policy term to another. Despite the fact that you may have had the best rates on GT insurance on your last policy there is a good chance you can find better rate quotes now. Block out anything you think you know about car insurance because we’re going to show you how to use the internet to save money, get proper coverage and the best rates.
The best way to find cheaper car insurance is to take a look at some of the elements that go into determining your car insurance rates. When you know what positively or negatively impacts premium levels, this enables you to make decisions that may result in lower car insurance prices.
Shown below are some of the things utilized by car insurance companies to help set premiums.
Some insurance providers don’t always advertise their entire list of discounts very well, so the list below details some of the more common as well as some of the hidden discounts that you may qualify for.
Don’t be shocked that most credits do not apply to your bottom line cost. Most only apply to individual premiums such as comp or med pay. Just because you may think having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business.
A partial list of companies who might offer some of the above discounts include:
If you need the cheapest insurance coverage quotes, ask every prospective company what discounts are available to you. Savings might not be available to policyholders in your area. If you would like to view insurance companies who offer discounts, click this link.
When it comes to choosing adequate coverage for your personal vehicles, there isn’t really a one size fits all plan. Every situation is different so this has to be addressed. For example, these questions can aid in determining if you would benefit from an agent’s advice.
If you’re not sure about those questions but you know they apply to you then you might want to talk to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies.
Knowing the specifics of a auto insurance policy can help you determine appropriate coverage for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Shown next are the normal coverages found on most auto insurance policies.
Liability auto insurance – This protects you from damage that occurs to other people or property by causing an accident. This coverage protects you from legal claims by others, and doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.
Liability can pay for claims such as loss of income, pain and suffering and funeral expenses. How much liability should you purchase? That is a decision to put some thought into, but buy higher limits if possible.
Comprehensive or Other Than Collision – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like damage from a tornado or hurricane, a broken windshield, falling objects, a tree branch falling on your vehicle and hitting a deer. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for things like chiropractic care, funeral costs, doctor visits and rehabilitation expenses. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants in addition to being hit by a car walking across the street. PIP is not available in all states and gives slightly broader coverage than med pay
UM/UIM Coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Collision coverages – This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things such as hitting a parking meter, rolling your car, sideswiping another vehicle and driving through your garage door. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. It’s also possible to raise the deductible to get cheaper collision coverage.
More affordable insurance coverage can be found online and with local insurance agents, so you should compare both to have the best selection. There are still a few companies who may not provide online rate quotes and many times these small insurance companies only sell coverage through independent agents.
We just showed you quite a bit of information on how to get a better price on 2005 Ford GT insurance. The key thing to remember is the more companies you get prices for, the better your comparison will be. Consumers may even find the biggest savings come from some of the lesser-known companies. Smaller companies may only write in your state and offer lower prices compared to the large companies like Allstate and Progressive.
Even more information is available by following these links: