Pricey auto insurance can drain your monthly budget and force you to tighten up your finances. Comparing rates annually is free and is an excellent way to make sure you’re not throwing money away.
Consumers have many auto insurance companies to purchase coverage from, and though it is a good thing to have a choice, too many choices makes it more difficult to find the best rates for your vehicles.
It’s smart to take a look at other company’s rates on a regular basis because rates are usually higher with each renewal. Even if you think you had the best premium rates for SilveradoHD insurance last year there is a good chance you can find better prices now. Forget anything you know (or think you know) about auto insurance because you’re about to learn the things you must know in order to eliminate unnecessary coverages and save money.
There are a lot of ways to shop for insurance, but one way is easier and takes less work. You can waste hours discussing policy coverages with local insurance agents in your area, or you can stay home and use online quoting to get rate comparisons in just a few minutes.
Most of the larger companies belong to an insurance system where prospective buyers submit their information once, and at least one company then returns a price quote based on the submitted data. This system prevents you from having to do quotation requests to each company.
To enter your information into the quoting system, click here (opens in new window).
The one disadvantage to comparing rates this way is that you can’t choose the companies to receive prices from. If you wish to select specific insurance companies to request quotes from, we put together a list of insurance companies in your area. View list of insurance companies.
You can choose any of those ways to find more affodable coverage, but try to keep identical quote data with each company. If you have different data it’s not possible to determine which company has the best rates.
When choosing proper insurance coverage, there isn’t really a single plan that fits everyone. Everyone’s situation is a little different so this has to be addressed. For instance, these questions can aid in determining if your insurance needs may require specific advice.
If you can’t answer these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.
Knowing the specifics of your policy helps when choosing appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverages offered by insurance companies.
Coverage for medical payments and/or PIP provide coverage for immediate expenses for X-ray expenses, pain medications and EMT expenses. The coverages can be utilized in addition to your health insurance plan or if you lack health insurance entirely. They cover you and your occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage
This coverage covers damage to your Silverado 3500HD resulting from a collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims like scraping a guard rail, hitting a mailbox and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. You can also choose a higher deductible to get cheaper collision coverage.
This coverage protects you from injuries or damage you cause to other people or property. It protects YOU from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount without having the split limit caps.
Liability insurance covers claims like medical expenses, emergency aid, pain and suffering, medical services and funeral expenses. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford.
Comprehensive insurance covers damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things such as damage from getting keyed, hitting a bird, hail damage and vandalism. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
This coverage provides protection from other motorists when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries and also any damage incurred to your Chevy Silverado 3500HD.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Normally your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.