Are you regretting the purchase of an overpriced auto insurance policy? You’re preaching to the choir because many drivers have buyer’s remorse. Companies like State Farm, Progressive and GEICO increase brand awareness with ads and it can be hard to avoid their marketing magic and take the time to shop coverage around.
If you are insured now or need a new policy, you can use these tips to get lower rates while maintaining coverages. Finding the best rates is easy if you know what you’re doing. Vehicle owners just need to understand the tricks to compare company rates on the web.
Most companies such as Progressive, Allstate and GEICO allow you to get prices direct online. This process is very simple as you simply enter the coverage amounts you desire into the form. When complete, the system pulls information on your driving record and credit history and generates a price based on these factors. Online price estimates makes it easy to compare insurance prices but the process of having to visit each company’s website and repetitively type in the same data is repetitive and time-consuming. But it’s very important to perform this step if you want to find a better rate.
The better way to compare rates
The easiest way to locate the lowest prices utilizes a single form to get prices from more than one company. The form is fast, eliminates repetitive work, and makes online quotes a lot less work. Once the form is submitted, it gets priced with multiple companies and you can pick your choice of the quotes that you receive. If you find a better price you simply finish the application and buy the new coverage. The entire process only takes a few minutes and you will find out if you’re overpaying now.
If you want to find out how much you can save on insurance coverage, simply click here to open in new window and enter your information. If you currently have coverage, we recommend that you enter exactly as they are listed on your policy. This ensures you will receive an apples-to-apples comparison using the exact same coverages.
Insurance is neither fun to buy or cheap, but you may qualify for discounts to help offset the cost. Certain discounts will be triggered automatically at the time you complete a quote, but some need to be inquired about in order for you to get them.
One thing to note about discounts is that most discounts do not apply the the whole policy. Most only apply to individual premiums such as liability and collision coverage. Even though it may seem like all those discounts means the company will pay you, insurance companies aren’t that generous.
Auto insurance companies that may offer these money-saving discounts include:
When comparing rates, check with each company how many discounts you can get. Savings may not apply to policyholders in your area. To locate insurance companies with discount rates, click this link.
When buying proper insurance coverage for your personal vehicles, there isn’t really a one size fits all plan. Everyone’s needs are different so this has to be addressed. For example, these questions can help discover whether or not you may require specific advice.
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, complete this form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.
Knowing the specifics of your insurance policy can be of help when determining appropriate coverage and the correct deductibles and limits. Insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverage types found on most insurance policies.
Coverage for uninsured or underinsured drivers
This coverage provides protection from other motorists when they do not carry enough liability coverage. This coverage pays for injuries to you and your family and also any damage incurred to your Chevy Camaro.
Because many people only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea.
Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims such as rock chips in glass, hitting a bird and damage from a tornado or hurricane. The maximum payout your insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Collision insurance will pay to fix damage to your Camaro from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims like hitting a mailbox, crashing into a ditch, sustaining damage from a pot hole, backing into a parked car and hitting a parking meter. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible to save money on collision insurance.
Coverage for medical expenses
Medical payments and Personal Injury Protection insurance kick in for expenses for X-ray expenses, chiropractic care, doctor visits, prosthetic devices and dental work. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover all vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
Liability coverage will cover damages or injuries you inflict on other people or property. It protects YOU against other people’s claims. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show liability limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.
Liability coverage pays for things like medical expenses, repair bills for other people’s vehicles and structural damage. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.