Are you kicking yourself for buying an underperforming, overpriced car insurance policy? It’s a common feeling and many consumers are in the same pinch.
Lots of insurers contend for your hard-earned dollar, and it can be difficult to compare rates and get the best coverage at the best rate
Consumers should take time to shop coverage around on a regular basis because car insurance prices tend to go up over time. Even if you got the best deal for Patriot insurance two years ago you can probably find a lower rate today. There is a lot of bad advice regarding car insurance out there, but in a few minutes you can learn some good information on how to reduce your car insurance bill.
Lots of factors are taken into consideration when you quote your car insurance policy. Some are obvious such as your driving history, but other factors are less apparent such as your credit history or your financial responsibility.
Insurance can be prohibitively expensive, but you can get discounts to help bring down the price. Many discounts should be triggered when you complete an application, but once in a while a discount must be asked about before you will receive the discount.
A little disclaimer on discounts, most credits do not apply to all coverage premiums. A few only apply to the cost of specific coverages such as collision or personal injury protection. So even though they make it sound like having all the discounts means you get insurance for free, you aren’t that lucky. But all discounts should definitely cut your policy premiums.
The best auto insurance companies and a summarized list of policyholder discounts include:
It’s a good idea to ask each company which discounts you qualify for. Some discounts might not be offered in your area. To see auto insurance companies that offer the discounts shown above, click here to view.
Well-known insurance coverage companies like Progressive, Allstate and GEICO endlessly run television and radio advertisements. All the companies state the claim that people will save if you change your policy. How does every insurance coverage company offer drivers better rates?
All the different companies require specific criteria for the type of driver that earns them a profit. For instance, a desirable insured might be described as a married female, has no prior claims, and drives less than 5,000 miles a year. A propective insured who matches that profile will get a cheap rate quote and is almost guaranteed to save when switching.
Potential insureds who may not quite match the ideal profile must pay higher prices and this can result in the customer not buying. The ad wording is “drivers that switch” but not “everyone who gets a quote” save that much. That is how insurance companies can confidently claim big savings.
This really illustrates why you really should get insurance quotes from several different companies. It is just not possible to predict which insurance coverage company will have the lowest rate quotes.
When buying the right insurance coverage, there really is not a one size fits all plan. Everyone’s situation is a little different so your insurance should reflect that For instance, these questions might point out whether you might need an agent’s assistance.
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier
Understanding the coverages of a car insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find the usual coverages found on the average car insurance policy.
Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Normally these limits are similar to your liability insurance amounts.
Collision – Collision coverage covers damage to your Patriot resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for claims like colliding with a tree, colliding with another moving vehicle, hitting a parking meter and scraping a guard rail. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to bump up the deductible to save money on collision insurance.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance reimburse you for bills like ambulance fees, nursing services, rehabilitation expenses and prosthetic devices. They are utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay
Comprehensive insurance – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims such as theft, a broken windshield, hitting a deer and damage from a tornado or hurricane. The highest amount your car insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Liability coverages – Liability coverage protects you from damages or injuries you inflict on other’s property or people in an accident. This insurance protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.
Liability coverage has 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 policy limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.
Liability insurance covers claims such as pain and suffering, legal defense fees, attorney fees, structural damage and repair bills for other people’s vehicles. How much coverage you buy is up to you, but it’s cheap coverage so purchase as large an amount as possible.
As you quote insurance, you should never buy lower coverage limits just to save a few bucks. There have been many situations where someone dropped collision coverage and found out when filing a claim that it was a big mistake. The proper strategy is to purchase plenty of coverage at a price you can afford.
Lower-priced car insurance can be found from both online companies in addition to many insurance agents, so you need to shop insurance with both so you have a total pricing picture. Some insurance companies don’t offer rates over the internet and most of the time these smaller providers only sell coverage through independent insurance agents.
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