2008 Dodge Magnum Insurance Cost – 10 Savings Tips

Having to pay for overpriced Dodge Magnum insurance can drain your savings and put a big crunch on your finances. You have multiple car insurance companies to choose from, and although it’s a good thing to have a selection, more choices can make it harder to find a good deal.

Smart consumers take time to compare prices at least once a year since prices change regularly. Even if you think you had the lowest price on Magnum coverage last year the chances are good that you can find a lower rate quote today. You’ll find a ton of advice on insurance coverage online, but you can learn a bunch of ideas how to find affordable insurance coverage.

Pricing the lowest cost insurance coverage is not that difficult. If you have a current insurance coverage policy or need a new policy, you can use these techniques to find the best rates and still get good coverage. Consumers just need to know the proper methods to get comparison rates online.

How to get low cost insurance coverage

Shopping for lower insurance coverage rates can be exhausting if you don’t utilize the easiest way. You can waste a lot of time discussing policy coverages with agents in your area, or you can stay home and use online quoting to accomplish the same thing much quicker.

Many insurance companies belong to an insurance system that allows shoppers to enter their coverage request one time, and each participating company provides a quote. This saves time by eliminating form submissions for every insurance coverage company. To get comparison pricing now click to open in new window.

The only downside to doing it this way is buyers cannot specifically choose the insurers to get pricing from. So if you prefer to pick specific providers to compare prices, we put together a list of the cheapest insurance coverage companies in your area. View list of insurance companies.

You can use whichever method you prefer to find lower rates, just try to keep the exact same coverages on every quote. If you have higher or lower deductibles you can’t possibly make an equal comparison.

Save $383 a year? Really?

Consumers can’t get away from all the ads for cheaper insurance from companies such as GEICO, State Farm and Progressive. All the companies convey the message about saving some big amount after switching your coverage.

How does every company make the same claim? It’s all in the numbers.

Different companies offer their best rates for the type of driver that will be a good risk. For instance, this type of risk profile could possibly be married and over the age of 30, has had continuous coverage, and drives less than 10,000 miles a year. Any person that meets those criteria will probably get the lowest premium rates as well as save money with a new company.

People who are not a match for these criteria will probably have to pay higher premium rates which translates to business going elsewhere. If you listen to the ad wording, they say “drivers that switch” but not “everyone who gets a quote” will save that much if they switch. That’s the way companies can advertise the savings.

This really drives home the point why you need to get insurance quotes from several different companies. It’s not possible to predict with any certainty which company will give you the biggest savings.

Find hidden discounts to get affordable auto insurance rates

Car insurance companies do not list every available discount very clearly, so the list below details a few of the more common and the more hidden credits that may apply to you. If you aren’t receiving every discount available, you are just wasting money.

  • Paperwork-free – A few insurance companies will give you a small discount simply for signing on your computer.
  • Early Renewal Discounts – A few auto insurance companies give discounts for buying a policy early. This can save 10% or more.
  • Defensive Driver Discount – Successfully completing a course that instructs on driving safety could cut 5% off your bill and make you a better driver.
  • Federal Government Employee – Active or former government employment can save as much as 8% on Magnum coverage depending on your auto insurance provider.
  • Homeowners Savings – Just being a homeowner may earn you a small savings because of the fact that having a home is proof of financial responsibility.
  • Senior Citizens – Drivers that qualify as senior citizens can get better auto insurance rates on Magnum coverage.
  • Driving Data Discount – Drivers who agree to allow their auto insurance company to study their driving habits through the use of a telematics system such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts if they exhibit good driving behavior.
  • Claim Free – Claim-free drivers can save substantially as compared to policyholders that have many claims.
  • Club Memberships – Being in certain professional organizations could qualify you for a break on your bill.
  • ABS Braking Discount – Anti-lock brake equipped vehicles can avoid accidents and will save you 10% or more.

One last thing about discounts, most discount credits are not given the the whole policy. The majority will only reduce specific coverage prices like medical payments or collision. Despite the appearance that you could get a free auto insurance policy, company stockholders wouldn’t be very happy.

A partial list of companies that possibly offer these benefits possibly include:

When getting a coverage quote, ask all the companies what discounts are available to you. All car insurance discounts may not apply to policyholders in your area.

Tailor your insurance coverage coverage to you

When it comes to buying proper insurance coverage for your vehicles, there isn’t really a one size fits all plan. Each situation is unique so your insurance needs to address that. These are some specific questions can aid in determining whether your personal situation may require specific advice.

  • Do all my vehicles need collision coverage?
  • Is my babysitter covered when using my vehicle?
  • Do I have coverage when using my vehicle for my home business?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Am I getting all the discounts available?
  • Why does it cost so much to insure a teen driver?
  • Is my state a no-fault state?

If you’re not sure about those questions but you think they might apply to your situation, you might consider talking to an agent. To find an agent in your area, complete this form or click here for a list of insurance coverage companies in your area. It only takes a few minutes and can help protect your family.

Educate yourself about insurance coverages

Understanding the coverages of your insurance policy can help you determine the best coverages at the best deductibles and correct limits. Policy terminology can be difficult to understand and coverage can change by endorsement. Below you’ll find the normal coverages found on most insurance policies.

Collision protection

Collision insurance covers damage to your Magnum resulting from a collision with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims like crashing into a ditch, damaging your car on a curb and rolling your car. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. You can also increase the deductible in order to get cheaper collision rates.

Comprehensive protection

This coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive can pay for things like damage from getting keyed, damage from a tornado or hurricane, damage from flooding, rock chips in glass and vandalism. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability auto insurance

This can cover damage that occurs to a person or their property. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 100/300/100 that means you have $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things like court costs, repair bills for other people’s vehicles, legal defense fees and attorney fees. How much liability should you purchase? That is your choice, but consider buying higher limits if possible.

Medical expense coverage

Med pay and PIP coverage kick in for expenses like pain medications, funeral costs, rehabilitation expenses and X-ray expenses. They can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible

Uninsured or underinsured coverage

Your UM/UIM coverage provides protection from other drivers when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and also any damage incurred to your Dodge Magnum.

Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Shop Smart and Save

While you’re price shopping online, never reduce coverage to reduce premium. Too many times, an accident victim reduced physical damage coverage only to regret at claim time that it was a big error on their part. Your objective should be to purchase plenty of coverage for the lowest price while still protecting your assets.

A few companies may not offer internet price quotes small insurance companies prefer to sell through independent agents. Budget-friendly insurance coverage is possible online in addition to local insurance agencies, and you should be comparing both to have the best chance of lowering rates.

Much more information about insurance coverage can be read at the links below