Feel like you’re a prisoner to an expensive insurance policy? Trust us when we tell you many consumers feel financially strained by their insurance policy. Companies like GEICO, Farmers Insurance and State Farm constantly bombard you with ads and it is challenging if not impossible to ignore the promise of big savings and effectively compare rates to find the best deal.
If you have a current car insurance policy or are looking for a new policy, you will benefit by learning to find better prices while maximizing coverage. Finding the best rates is quite easy. Vehicle owners just need to know the proper methods to shop their coverage around online.
The price of auto insurance can be rather high, but there’s a good chance there are discounts that could drop your premiums quite a bit. Some discounts apply automatically at quote time, but some need to be specifically requested in order for you to get them.
Don’t be surprised that most credits do not apply the the whole policy. Most only apply to individual premiums such as collision or personal injury protection. Despite the appearance that it’s possible to get free car insurance, auto insurance companies aren’t that generous. Any qualifying discounts will positively reduce the amount you pay for coverage.
A few of the larger companies and a selection of discounts are outlined below.
When comparing rates, check with every company what discounts are available to you. Savings may not be offered in your area. For a list of companies who offer discounts, click this link.
When it comes to buying proper insurance coverage for your vehicles, there really is no one size fits all plan. Every situation is different and your policy should reflect that. These are some specific questions might help in determining if you may require specific advice.
If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.
Consumers can’t get away from all the ads that promise big savings from the likes of State Farm, Allstate and GEICO. All the ads convey the message that people will save if you get a free car insurance quote and switch to their company.
How can each company have lower policy pricing? Here is the trick they use.
All the different companies can use profiling for the type of customer that makes them money. A good example of a profitable risk profile could possibly be over age 30, has other policies, and has a high credit rating. Any driver that meets those criteria receive the lowest rate quotes and will most likely pay quite a bit less when switching companies.
People who don’t qualify for these standards will probably have to pay a higher premium and the customer buying from a different company. The wording the ads use say “people who switch” not “everyone who quotes” can save as much as they claim. This is how insurance companies can confidently make those claims. Because of these techniques, you need to get price quotes at each policy renewal. Because you cannot predict which company will give you lower prices than your current company.
Having a good grasp of insurance helps when choosing the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. These are the usual coverages found on the average insurance policy.
Auto liability insurance
This can cover damage that occurs to other’s property or people by causing an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have liability limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.
Liability insurance covers claims like legal defense fees, emergency aid and medical services. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase higher limits if possible.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Comprehensive coverage (or Other than Collision)
This covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things such as hitting a deer, fire damage, rock chips in glass and damage from getting keyed. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses like rehabilitation expenses, prosthetic devices, hospital visits, dental work and chiropractic care. They are used in conjunction with a health insurance plan or if you are not covered by health insurance. They cover all vehicle occupants and will also cover any family member struck as a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Collision coverage protection
Collision coverage covers damage to your Taurus 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 insurance covers claims such as scraping a guard rail, crashing into a ditch, damaging your car on a curb, sideswiping another vehicle and colliding with another moving vehicle. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.
We just covered many tips how you can shop for 2011 Ford Taurus insurance online. The most important thing to understand is the more providers you compare, the higher your chance of finding affordable car insurance. You may even find the best price on insurance coverage is with the smaller companies. These companies may cover specific market segments cheaper than their larger competitors like GEICO and State Farm.
As you shop your coverage around, do not skimp on critical coverages to save a buck or two. In many cases, drivers have reduced liability limits or collision coverage and learned later that the small savings ended up costing them much more. Your focus should be to buy the best coverage you can find at the best price.
More detailed insurance coverage information is available at these sites: