Are you kicking yourself for buying high-priced auto insurance? You’re preaching to the choir because you’re not the only one.
Many insurance companies vie for your business, and it can be difficult to compare rates to discover the definitive lowest cost out there.
It’s a great practice to get comparison quotes yearly since insurance prices tend to go up over time. Even if you think you had the lowest rate on Taurus coverage a few years ago you will most likely find a better premium rate today. Forget all the misinformation about auto insurance because I’m going to teach you the right way to lower your annual insurance bill.
Auto insurance companies do not list every possible discount in a way that’s easy to find, so the below list has both well-publicized and the harder-to-find credits that you can use to lower your rates. If you don’t get every credit possible, you could be getting lower rates.
Discounts save money, but please remember that some of the credits will not apply the the whole policy. Most only reduce the price of certain insurance coverages like comprehensive or collision. So despite the fact that it appears having all the discounts means you get insurance for free, company stockholders wouldn’t be very happy.
A list of auto insurance companies and some of their more popular discounts are shown below.
If you need lower rates, check with every insurance company which discounts they offer. Depending on the company, some discounts might not be offered in your area. For a list of insurance companies who offer auto insurance discounts, click this link.
Lots of factors are considered when premium rates are determined. Some of the criteria are obvious such as your driving history, although others are more obscure like your continuous coverage or how safe your car is.A large part of saving on insurance is knowing the factors that are used to determine the level of your policy premiums. If you have a feel for what impacts premium levels, this allows you to make educated decisions that could help you find much lower annual insurance costs.
Shown below are a few of the “ingredients” used by insurance companies to determine your rates.
When choosing the right insurance coverage, there is no perfect coverage plan. Coverage needs to be tailored to your specific needs so this has to be addressed. Here are some questions about coverages that can aid in determining whether your personal situation might need professional guidance.
If it’s difficult to answer those questions but you know they apply to you, you may need to chat with an agent. To find lower rates from a local agent, complete this form or click here for a list of insurance companies in your area.
Insurance coverage providers like State Farm and Allstate continually stream ads in print and on television. All the ads make an identical promise about saving some big amount if you get a free car insurance quote and switch your insurance coverage coverage to their company. How is it possible that every company can make the same claim? This is how they do it.
Different companies quote their best rates for a prospective insured that earns them the highest profit. For instance, a driver they prefer may be a female over age 40, carries full coverage, and drives less than 10,000 miles a year. A customer that hits that “sweet spot” will get the preferred premium rates and will also pay quite a bit less when switching companies.
People who are not a match for the requirements will be charged higher prices and ends up with business not being written. The ads say “customers that switch” but not “all drivers who get quotes” can save as much as they claim. That’s why companies can make the claims of big savings. This illustrates why you really need to do a price quote comparison at every renewal. Because without a comparison, you cannot know with any certainty which company will give you the biggest savings.
Knowing the specifics of your insurance policy helps when choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. These are typical coverages found on the average insurance policy.
This pays for damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers claims like rock chips in glass, fire damage, theft and falling objects. The highest amount your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Liability coverage protects you from damage or injury you incur to other people or property by causing an accident. This coverage protects you against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see liability limits of 100/300/100 that translate to a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.
Liability can pay for claims like loss of income, medical expenses, medical services and legal defense fees. How much liability coverage do you need? That is your choice, but consider buying as much as you can afford.
Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills like nursing services, doctor visits, rehabilitation expenses and chiropractic care. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover both the driver and occupants as well as any family member struck as a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay
Collision coverage will pay to fix damage to your Taurus resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as colliding with another moving vehicle, backing into a parked car, hitting a parking meter, sustaining damage from a pot hole and crashing into a building. 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 coverage gives you protection when other motorists either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries and damage to your Ford Taurus.
Because many people only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
We just covered some good ideas how you can reduce 2008 Ford Taurus insurance prices online. The key concept to understand is the more rate quotes you have, the better chance you’ll have of finding cheaper car insurance. You may be surprised to find that the lowest priced insurance comes from the least-expected company. Some small companies may have significantly lower rates on certain market segments as compared to the big name companies such as State Farm or Progressive.
As you shop your coverage around, make sure you don’t skimp on coverage in order to save money. There have been many cases where someone dropped collision coverage and found out when filing a claim that the few dollars in savings costed them thousands. Your strategy should be to buy the best coverage you can find at the best price but still have enough coverage for asset protection.
Additional insurance information is located at these links: