Sick and tired of sacrificing other expenses to pay insurance each month? Your situation is no different than the majority of other drivers.
Big companies like Progressive, GEICO and Farmers Insurance constantly blast consumers with ad campaigns and it is challenging if not impossible to see through the deception and take the time to shop coverage around.
You should take the time to quote other rates once or twice a year due to the fact that insurance prices are adjusted regularly by insurance companies. Even if you got the lowest price for Mazda3 coverage six months ago other companies may now be cheaper. Ignore everything you know about insurance because you’re going to learn the quickest way to save money, get proper coverage and the best rates.
When shopping for car insurance there are multiple ways to get quotes from many different insurance companies. The easiest way to compare rates consists of obtaining rate quotes online. This can be accomplished in a couple minutes as outlined below.
The approach you take is up to you, just do your best to use equivalent information for every quote you compare. If you compare differing limits it will be very difficult to make a fair rate comparison. Even a minor difference in coverages could throw off the whole comparison. And when quoting car insurance, remember that comparing a wide range of rates will improve the odds of getting better pricing. Not every company does price estimates online, so you need to compare quotes from those companies as well.
Insurance is neither fun to buy or cheap, but you may be missing some discounts that can help lower your rates. Some of these disounts will be visible at the time of quoting, but some may not be applied and must be specifically requested prior to receiving the credit.
One last thing about discounts, some of the credits will not apply to your bottom line cost. Most cut specific coverage prices like liability and collision coverage. So when it seems like all the discounts add up to a free policy, nobody gets a free ride.
For a list of insurance companies that offer the discounts shown above, click this link.
When buying the right insurance coverage for your vehicles, there is no cookie cutter policy. Your needs are not the same as everyone else’s so your insurance should reflect that These are some specific questions can help discover if your situation may require specific advice.
If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with an agent. If you don’t have a local agent, simply complete this short form or click here for a list of insurance coverage companies in your area.
Learning about specific coverages of insurance can help you determine the best coverages and proper limits and deductibles. Insurance terms can be ambiguous and nobody wants to actually read their policy. Shown next are typical coverage types offered by insurance companies.
Collision coverage pays to fix your vehicle from damage caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims like rolling your car, scraping a guard rail, sustaining damage from a pot hole and backing into a parked car. This coverage can be expensive, so consider dropping it from lower value vehicles. You can also raise the deductible in order to get cheaper collision rates.
This pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against claims such as vandalism, a broken windshield, damage from a tornado or hurricane and rock chips in glass. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Coverage for medical payments and/or PIP kick in for bills such as surgery, ambulance fees, doctor visits, pain medications and hospital visits. They are utilized in addition to your health insurance plan or if there is no health insurance coverage. They cover you and your occupants in addition to getting struck while a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage
Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.
Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these limits are identical to your policy’s liability coverage.
This provides protection from damage or injury you incur to other people or property that is your fault. This coverage protects you from legal claims by others. It does not cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability insurance covers things such as structural damage, medical expenses, court costs, funeral expenses and loss of income. The amount of liability coverage you purchase is up to you, but you should buy as large an amount as possible.