Cheap 2012 Mitsubishi Lancer Insurance Cost

Want better auto insurance rates? Drivers have options when trying to find the best price on Mitsubishi Lancer insurance. You can either waste hours calling around trying to get quotes or leverage the internet to make rate comparisons.

There is a right way and a wrong way to shop for auto insurance and you need to know the proper way to get price quotes for a new or used Mitsubishi and get the cheapest rates.

It’s a good idea to price shop coverage before your policy renews because prices are constantly changing. Even if you got the best rate for Lancer coverage a few years ago you can probably find a lower rate today. Ignore everything you know about auto insurance because we’re going to show you the fastest way to find better rates and still maintain coverage.

This article will help you learn how car insurance quotes work and some tips to save money. If you currently have a car insurance policy, you will be able to lower your premiums substantially using this information. Drivers just need to know the most efficient way to shop their coverage around online.

What affects Mitsubishi Lancer insurance premiums?

An important part of buying insurance is that you know the rating factors that go into determining your policy premiums. When you know what positively or negatively determines premiums, this helps enable you to make changes that will entitle you to cheaper rates.

  • Lower premiums for being claim-free – Car insurance companies provide better rates to policyholders who do not rely on their insurance for small claims. If you tend to file frequent claims, you can definitely plan on either policy cancellation or increased premiums. Insurance coverage is designed for more catestrophic claims.
  • How much liability coverage – Liability coverage will afford coverage in the event that you are responsible for an accident. Liability insurance provides you with a defense in court starting from day one. This coverage is relatively inexpensive when compared with rates for comp and collision, so drivers should buy more than the minimum limits required by law.
  • Low stress occupation equals lower premiums – Occupations such as military generals, social workers and medical professionals tend to have higher premium rates attributed to intense work situations and lengthy work days. On the other hand, occupations like farmers, students and performers receive lower rates for Lancer coverage.
  • Bad credit hurts insurance prices – Having a good credit rating can be a huge factor in calculating your auto insurance rates. If your credit score is not that good, you could save money insuring your 2012 Mitsubishi Lancer if you improve your credit rating. Drivers who have very good credit scores tend to file fewer claims and have better driving records than drivers who have lower ratings.
  • City dwellers may pay more – Living in areas with lower population can save you money when it comes to auto insurance. Residents of big cities tend to have congested traffic and longer commute times. Fewer drivers corresponds to lower accident rates as well as less vandalism and auto theft.
  • High comp and collision deductibles cost less – Insurance for physical damage, termed comprehensive and collision coverage on your policy, is used to repair damage to your Mitsubishi. Some instances where coverage would apply are a broken windshield, damage caused by hail, and rolling your vehicle. Physical damage deductibles represent how much money you are required to spend if the claim is covered. The more money you have to pay, the lower your rates will be for Lancer coverage.

Lower rates by qualifying for discounts

Car insurance is not cheap, but you can get discounts that many people don’t even know exist. Certain discounts will be applied at the time of purchase, but a few must be inquired about before being credited. If you aren’t receiving every discount available, you are paying more than you should be.

  • Low Mileage – Fewer annual miles on your Mitsubishi could earn cheaper prices.
  • Save with More Vehicles Insured – Drivers who insure multiple cars or trucks with the same insurance company could earn a price break for each car.
  • Discounts for Cautious Drivers – Insureds without accidents can pay as much as 50% less for Lancer coverage than their less cautious counterparts.
  • Policy Bundle Discount – If you can bundle your home and auto insurance with the same company they may give you a discount of at least 10 to 15 percent or more.
  • Defensive Driver Discount – Successfully completing a defensive driver course is a good idea and can lower rates if you qualify.
  • Life Insurance – Not all insurance companies offer life insurance, but some may give you a small discount if you purchase some life insurance too.
  • Accident Waiver – This one isn’t a discount, but companies like GEICO, State Farm, and Progressive will forgive one accident without getting socked with a rate hike if your claims history is clear for a specific time period.
  • Early Renewal Discounts – Select larger companies give a discount for buying a policy prior to your current policy expiration. It’s a savings of about 10%.

Discounts save money, but please remember that most credits do not apply to the entire policy premium. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Even though the math looks like you could get a free insurance policy, insurance companies wouldn’t stay in business.

Larger insurance companies and some of their more popular discounts are shown below.

  • State Farm may have discounts that include safe vehicle, Drive Safe & Save, good student, student away at school, driver’s education, good driver, and anti-theft.
  • Progressive may include discounts for good student, multi-policy, online signing, multi-vehicle, and homeowner.
  • Travelers offers discounts including good student, new car, early quote, home ownership, and IntelliDrive.
  • American Family has discounts for TimeAway discount, accident-free, good driver, air bags, good student, and bundled insurance.
  • Liberty Mutual policyholders can earn discounts including newly married, new graduate, multi-car, teen driver discount, new move discount, and good student.

If you need lower rates, check with each insurance company to apply every possible discount. Depending on the company, some discounts might not be available to policyholders in your state.

Insurance is unique, just like you

When choosing the right insurance coverage for your vehicles, there isn’t really a one size fits all plan. Every insured’s situation is different.

These are some specific questions can aid in determining whether you may require specific advice.

  • I have good health insurance, so how much medical payments coverage do I need?
  • Is my nanny covered when driving my vehicle?
  • Is a new car covered when I drive it off the dealer lot?
  • Does my car insurance cover rental cars?
  • How can I get my company to pay me more for my totalled car?
  • I don’t drive much so do I pay less?

If you can’t answer these questions, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form. It is quick, free and can provide invaluable advice.

Car insurance coverage specifics

Having a good grasp of your policy can be of help when determining the best coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and coverage can change by endorsement.

Collision protection

Collision coverage covers damage to your Lancer from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision coverage pays for claims such as hitting a mailbox, sideswiping another vehicle, colliding with a tree and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from older vehicles. You can also bump up the deductible to get cheaper collision coverage.

Liability car insurance

This coverage protects you from damage or injury you incur to people or other property that is your fault. It protects YOU against other people’s claims. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 50/100/50 which stand for $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property. Alternatively, you may have a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.

Liability insurance covers things like funeral expenses, repair bills for other people’s vehicles, bail bonds, structural damage and loss of income. How much liability coverage do you need? That is your choice, but you should buy as large an amount as possible.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Normally the UM/UIM limits are set the same as your liablity limits.

Comprehensive insurance

Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as a broken windshield, fire damage and hitting a bird. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP provide coverage for bills for prosthetic devices, funeral costs and nursing services. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

And the best car insurance company is…

You just learned a lot of ways to lower your 2012 Mitsubishi Lancer insurance prices. The key concept to understand is the more price quotes you have, the higher your chance of finding cheap car insurance. You may be surprised to find that the lowest prices come from some of the smallest insurance companies.

Some insurance coverage companies do not offer online rate quotes and many times these small insurance companies only sell through independent agents. More affordable insurance coverage can be purchased on the web as well as from independent agents, so compare prices from both in order to have the best chance of saving money.

People who switch companies do it for a number of reasons such as poor customer service, high prices, extreme rates for teen drivers or unfair underwriting practices. Whatever your reason, finding a new company can be easy and end up saving you some money.

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