How Much Does 2016 FIAT 500 Insurance Cost?

Think you have overpriced insurance coverage? It’s a common feeling and many consumers are in the same pinch.

Big-name insurance companies like State Farm, Progressive and GEICO continually bombard you with catchy ads and it is difficult to avoid their marketing magic and take the time to shop coverage around.

You should take the time to check insurance coverage prices occasionally because insurance coverage prices are constantly changing. Just because you found the lowest quotes for 500 coverage a year ago the chances are good that you can find a lower rate today. Ignore everything you know about insurance coverage because it’s time to teach you how to use online quotes to reduce your cost while increasing coverage.

Compare insurance rates

Shopping for lower insurance rates is a ton of work if you don’t understand the most efficient way to do it. You can spend countless hours discussing policy coverages with agents in your area, or you could use online quoting to quickly compare rates.

Most of the best insurance companies take part in a program that allows shoppers to enter their coverage request one time, and every company can provide price quotes. This eliminates the need for quotation requests for every insurance company.

To find out how much you’re overpaying now click to open in new window.

One minor caviat to getting quotes like this is that consumers can’t choose which companies to get quotes from. So if you prefer to choose specific providers to compare, we put together a list of low cost insurance companies in your area. Click here for list of insurance companies.

Whichever method you choose, make sure you are using nearly identical coverage information with each company. If you compare different limits and deductibles on each one it will be very difficult to get a fair rate comparison. Slightly different insurance coverages or limits may result in large price differences. Keep in mind that quoting more helps increase your odds of locating more affordable insurance.

Lower rates by qualifying for discounts

Auto insurance is not cheap nor is it fun to buy but there could be significant discounts that you may not know about. Some trigger automatically when you complete an application, but a few must be manually applied before you get the savings.

  • Accident Waiver – This one is not really a discount per se, but a few companies such as Progressive, Allstate, and Liberty Mutual will forgive one accident before your rates go up if you have no claims for a set time period.
  • Discount for Good Grades – This discount can get you a discount of up to 25%. This discount can apply until age 25.
  • Discounts for Federal Employees – Federal government employees can save as much as 8% for 500 coverage with a few auto insurance companies.
  • Military Rewards – Being on active deployment in the military may lower your rates slightly.
  • Theft Deterent – Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and can earn a small discount on your policy.
  • Memberships – Having an affiliation with certain professional organizations is a simple method to lower premiums on your next auto insurance statement.
  • Senior Citizen Discount – Seniors can get lower premium rates for 500 coverage.
  • Seat Belt Discounts – Drivers who require all vehicle occupants to buckle up can save up to 15% on the medical payments or PIP coverage costs.
  • New Vehicle Savings – Buying a new car instead of a used car is cheaper due to better safety requirements for new model year vehicles.
  • Data Collection Discounts – People who choose to allow data collection to analyze driving habits by using a telematics device such as Progressive’s Snapshot may get a rate reduction if their driving habits are good.

Consumers should know that most credits do not apply to the entire policy premium. Some only reduce the price of certain insurance coverages like liability, collision or medical payments. Just because it seems like all the discounts add up to a free policy, you won’t be that lucky.

Some companies who might offer these money-saving discounts may include but are not limited to:

Before purchasing a policy, check with each company how you can save money. Depending on the company, some discounts may not be available in your area. If you would like to view companies that offer the discounts shown above, click this link.

Car insurance is unique, just like you

When choosing the best car insurance coverage for your vehicles, there really is not a perfect coverage plan. Every insured’s situation is different so this has to be addressed. These are some specific questions could help you determine whether your personal situation will benefit from professional help.

  • Does my car insurance cover rental cars?
  • Should I have a commercial auto policy?
  • When would I need rental car insurance?
  • Does medical payments coverage apply to all occupants?
  • Can I get a multi-policy discount?
  • Do I need higher collision deductibles?
  • Is borrowed equipment or tools covered if stolen or damaged?

If you can’t answer these questions, you might consider talking to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies.

How do car insurance companies determine FIAT 500 insurance costs?

Multiple criteria are used in the calculation when you quote your car insurance policy. Some are obvious like a motor vehicle report, but some are more transparent such as your marital status or how safe your car is.

  • Save money with excellent credit – An insured’s credit rating factor in calculating your premium rate. Therefore, if your credit history can be improved, you could pay less to insure your 2016 FIAT 500 by repairing your credit. Consumers who have high credit scores tend to be more responsible than drivers who have bad credit.
  • Less chance of injury means lower premiums – Cars with five star safety ratings are cheaper to insure. Safer cars reduce occupant injuries and reduced instances of injuries translates into fewer and smaller insurance claims which can result in lower premiums. If your FIAT 500 has at least an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you may qualify for a discount.
  • File insurance claims and pay more – Insurance companies provide the best rates to drivers who are claim-free. If you tend to file frequent claims, you can definitely plan on higher premiums or even policy non-renewal. Your car insurance is intended to be relied upon for claims that pose a financial burden.
  • Bundle policies to earn discounts – The majority of insurers will award discounts for people who carry more than one policy. It’s known as a multi-policy discount. If you currently are using one company, you still need to compare other company rates to verify if the discount is saving money. Consumers may save money by buying insurance from more than one company.
  • Eliminate extra policy coverages – There are a ton of extra coverages you can purchase when buying car insurance. Coverages like coverage for rental cars, better glass coverage, and membership fees are probably not needed. You may think they are a good idea when buying your policy, but your needs may have changed so think about removing them and cutting costs.
  • Gender impacts rates – Statistics demonstrate that females take fewer risks when driving. However, this does not mean women are BETTER drivers than men. Both genders are in auto accidents in similar numbers, but the males have costlier accidents. Men also statistically get ticketed for serious violations such as reckless driving. Male teenagers generally have the highest accident percentage and are penalized with high car insurance rates.
  • Liability coverage is peace of mind – Your policy’s liability coverage will afford coverage if you are responsible for damages caused by your negligence. This coverage provides legal defense which can be incredibly expensive. Liability insurance is pretty cheap as compared to coverage for physical damage, so buy as much as you can afford.

Ads can be misleading

Popular insurance coverage providers such as 21st Century, Allstate and State Farm consistently run ads on TV and radio. All the ads make the point that people will save after switching your coverage to them. How does every insurance coverage company give you a lower rate? It’s all in the words they use.

Insurance companies can use profiling for the type of insured that is profitable for them. A good example of a driver they prefer might have to be over age 30, has no tickets, and the vehicle is rated for pleasure use. Anyone who matches those parameters may get the lowest prices and have a good chance to cut their rates if they switch.

Potential customers who are not a match for those criteria may be required to pay a higher premium and business not being written. The trick is to say “drivers that switch” but not “all drivers who get quotes” can get the lowest rates when switching. That’s why insurance companies can confidently advertise the savings.

This really illustrates why it’s extremely important to compare as many free insurance coverage quotes as you can. It’s just not possible to know which insurance coverage company will be your best fit.

Auto insurance coverage options for a FIAT 500

Knowing the specifics of a auto insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The terms used in a policy can be difficult to understand and reading a policy is terribly boring. These are the normal coverages found on most auto insurance policies.

Collision coverage protection

This covers damage to your 500 resulting from a collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims such as damaging your car on a curb, backing into a parked car, scraping a guard rail, hitting a parking meter and sideswiping another vehicle. This coverage can be expensive, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible to bring the cost down.

Comprehensive auto insurance

This coverage pays for 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 things such as a tree branch falling on your vehicle, fire damage, a broken windshield and rock chips in glass. The maximum payout a auto insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Coverage for liability

This protects you from damage or injury you incur to a person or their property. This coverage protects you against claims from other people, and doesn’t 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 policy limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a limit of $50,000 paid for damaged property. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.

Liability insurance covers things such as medical services, court costs and attorney fees. How much coverage you buy is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Coverage for uninsured or underinsured drivers

This coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries and also any damage incurred to your FIAT 500.

Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Frequently these coverages do not exceed the liability coverage limits.

Coverage for medical expenses

Med pay and PIP coverage provide coverage for short-term medical expenses for surgery, dental work, chiropractic care and rehabilitation expenses. The coverages can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers both the driver and occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Compare but don’t skimp

Some car insurance companies do not offer rate quotes online and usually these regional carriers only sell coverage through independent insurance agents. Cheaper car insurance is attainable online in addition to local insurance agencies, so you should compare both to have the best chance of lowering rates.

We just covered many tips how you can get a better price on 2016 FIAT 500 insurance. The key thing to remember is the more price quotes you have, the better likelihood of getting inexpensive insurance coverage. Consumers may even find the biggest savings come from a small local company. They may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.

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