How Much Does 2008 Mitsubishi Lancer Insurance Cost?

Trying to find the cheapest car insurance rates for your Mitsubishi Lancer? Tired of paying out the nose to insure your Mitsubishi every month? You are no different than millions of other drivers.

Drivers have many insurers to pick from, and although it’s a good thing to be able to choose, it makes it harder to compare rates.

Buying car insurance is not that difficult. If you currently have car insurance, you should be able to save some money using these tips. But drivers need to learn the way companies market on the web and use this information to your advantage.

The easiest way to compare rate quotes is to understand most of the bigger providers will pay a fee to give rate comparisons. All you need to do is give them some information including if it has an alarm system, how much you drive, if you’re married, and if you have an active license. Those rating factors gets transmitted to multiple top-rated companies and you get price estimates almost instantly.

To compare multiple company rates now, click here and complete the quick form.

Insurance companies offer many discounts

Buying insurance is not cheap, but you can get discounts that can drop the cost substantially. Most are applied at the time you complete a quote, but a few must be specially asked for before you will receive the discount.

  • Resident Student – Any of your kids living away from home attending college and do not have access to a covered vehicle can be insured at a reduced rate.
  • Drivers Ed for Students – Make teen driver coverage more affordable by requiring them to complete a driver education course in school.
  • Discounts for Good Drivers – Drivers who don’t get into accidents may receive a discount up to 45% on Lancer coverage than drivers with accident claims.
  • Theft Deterent – Cars and trucks equipped with anti-theft or alarm systems are stolen with less frequency and therefore earn up to a 10% discount.
  • Active Service Discounts – Being on active duty in the military could qualify you for better prices.
  • Multi-line Discount – Larger insurance companies have a discount if you purchase life insurance from them.
  • Early Payment Discounts – If you can afford to pay the entire bill as opposed to paying monthly you may reduce your total bill.
  • Online Discount – A few larger online companies will discount your bill up to fifty bucks simply for signing on the web.

As a disclaimer on discounts, some credits don’t apply the the whole policy. Most only reduce the cost of specific coverages such as liability, collision or medical payments. Despite the appearance that you would end up receiving a 100% discount, companies don’t profit that way. Any amount of discount should help lower your overall premium however.

The best insurance companies and a summarized list of policyholder discounts are:

  • Farmers Insurance offers discounts including switch companies, distant student, teen driver, good student, multi-car, bundle discounts, and alternative fuel.
  • State Farm offers premium reductions for multiple policy, Steer Clear safe driver discount, Drive Safe & Save, anti-theft, good driver, multiple autos, and good student.
  • Liberty Mutual may include discounts for preferred payment discount, newly married, new graduate, teen driver discount, safety features, and new move discount.
  • MetLife offers discounts for good driver, good student, defensive driver, accident-free, claim-free, multi-policy
  • Progressive has discounts for multi-vehicle, online quote discount, good student, online signing, homeowner, and multi-policy.

It’s a good idea to ask each insurance company to apply every possible discount. All car insurance discounts might not apply in every state. If you would like to choose from a list of insurance companies that provide some of the discounts listed above, follow this link.

Mitsubishi Lancer insurance price factors

Multiple criteria are taken into consideration when you get a price on insurance. Most are fairly basic like an MVR report, although some other factors are less obvious such as whether you are married or your commute time.

  • Get hitched and pay less – Being married may save some money on your insurance coverage bill. Having a significant other usually means you are more responsible and it’s proven that married drivers get in fewer accidents.
  • Females tend to be lower risk – The statistics show females are less aggressive when driving. That doesn’t necessarily mean that men are worse drivers. Women and men cause fender benders at a similar rate, but males cause more damage and cost insurance companies more money. Not only that, but men also have more aggressive citations such as DWI and reckless driving. Youthful male drivers have the highest risk to insure and thus pay the highest rates.
  • Higher coverage deductibles are cheaper – Comprehensive and collision coverage deductibles define how much you are willing to pay out-of-pocket if a claim is determined to be covered. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Examples of some claims that would be covered could be a windshield broken by a bird, vandalism, and damage from wind. The more damage repair cost you have to pay, the less money you will pay for insurance coverage on Lancer coverage.
  • Do you need those add-on coverages? – There are many extra coverages that you can get tricked into buying on your insurance coverage policy. Add-on coverages like rental car reimbursement, accidental death, and additional equipment coverage may not be needed and are just wasting money. These coverages may sound good when deciding what coverages you need, but your money might be better spent on other coverage so consider taking them off your policy.
  • Driving citations increase prices – Good drivers pay lower auto insurance prices compared to drivers with tickets. Having a single moving violation can increase rates by twenty percent. Drivers unfortunate enough to have flagrant citations such as reckless driving, hit and run or driving under the influence might be required by their state to submit a SR-22 form with their state’s department of motor vehicles in order to legally drive a vehicle.
  • Liability coverage safeguards assets – Liability insurance provides coverage if ever a court rules you are at fault for an accident. Liability insurance provides for a legal defense which can be incredibly expensive. Liability insurance is pretty cheap when compared to the cost of physical damage coverage, so insureds should have plenty of protection for their assets.
  • Your location is a factor – Having an address in less populated areas is a good thing when insuring your vehicles. Urban drivers have to deal with more aggressive driving styles and much longer commute distances. Fewer drivers means reduced accidents and also fewer theft and vandalism claims.
  • Do you qualify for a multi-policy discount? – Some companies provide better rates to policyholders that buy multiple policies, otherwise known as a multi-policy discount. Even though this discount sounds good, it’s still a good idea to compare other insurance prices to help ensure you have the lowest rates.

Do I just need basic coverages?

When it comes to choosing coverage for your personal vehicles, there really is no single plan that fits everyone. Everyone’s situation is unique so your insurance should reflect that For example, these questions might point out if your insurance needs could use an agent’s help.

  • Should I bundle my homeowners policy with my auto?
  • Am I covered when driving someone else’s vehicle?
  • When do I need to add a new car to my policy?
  • Do I need special endorsements for business use of my vehicle?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Do I pay less if my vehicle is kept in my garage?
  • Is my babysitter covered when using my vehicle?
  • Am I covered when delivering products for my home-based business?

If you can’t answer these questions but one or more may apply to you, you might consider talking to an agent. To find lower rates from a local agent, take a second and complete this form or click here for a list of auto insurance companies in your area.

The insurance coverage bait and switch

Insurance coverage companies such as Progressive, Allstate and GEICO seem to constantly run ads on television and other media. All the ads seem to make the promise about saving some big amount just by moving to them. How do they all offer you a better deal? Here is how they do it.

Insurance providers offer their best rates for the type of driver that earns them a profit. One example of a profitable risk profile may be between 30 and 50, has never had a claim, and drives a lower-performance vehicle. Any customer that fits those parameters will probably get cheap prices and have a good chance to save if they switch.

Insureds who fall outside these criteria may receive a higher premium which usually ends up with business going elsewhere. If you listen to the ad wording, they say “people who switch” but not “everyone who gets a quote” save that much when switching. That is how companies can make claims like that. Each company has different criteria, so drivers should get car insurance quotes as often as possible. Because you cannot predict which insurance coverage company will have the lowest car insurance rates for your situation.

Car insurance policy specifics

Learning about specific coverages of your car insurance policy aids in choosing the right coverages at the best deductibles and correct limits. Car insurance terms can be confusing and even agents have difficulty translating policy wording. These are the normal coverages found on most car insurance policies.

Auto collision coverage

This 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 things such as crashing into a ditch, sustaining damage from a pot hole, backing into a parked car and damaging your car on a curb. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to choose a higher deductible to save money on collision insurance.

UM/UIM (Uninsured/Underinsured Motorist) coverage

This gives you protection when other motorists do not carry enough liability coverage. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Mitsubishi Lancer.

Since many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. So UM/UIM coverage is very important.

Medical payments and PIP coverage

Coverage for medical payments and/or PIP kick in for bills like hospital visits, dental work, pain medications and rehabilitation expenses. They are utilized in addition to your health insurance plan or if you lack health insurance entirely. Coverage applies to all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage

Comprehensive auto coverage

Comprehensive insurance covers damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as damage from a tornado or hurricane, rock chips in glass and damage from getting keyed. The highest amount a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.

Liability car insurance

Liability insurance protects you from damage or injury you incur to other people or property. It protects you from legal claims by others, and does not provide coverage for 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 policy limits of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery.

Liability coverage protects against claims such as medical expenses, legal defense fees and structural damage. How much liability should you purchase? That is a decision to put some thought into, but buy as much as you can afford.

Online plus local equals savings

Discount 2008 Mitsubishi Lancer insurance can be found both online in addition to many insurance agents, and you should compare rates from both to have the best selection. Some companies do not provide the ability to get quotes online and usually these smaller companies prefer to sell through local independent agencies.

When buying insurance coverage, do not reduce needed coverages to save money. There have been many cases where consumers will sacrifice full coverage and learned later that their decision to reduce coverage ended up costing them more. The proper strategy is to buy a smart amount of coverage at the lowest possible cost but still have enough coverage for asset protection.

Much more information about insurance can be read at these links: