Have you had enough of paying out the nose each month for car insurance? You’re in the same situation as the majority of other car owners. Numerous insurers battle for your insurance dollar, and it can be difficult to compare rates and get the definite cheapest price
You need to check auto insurance prices every six months since insurance rates fluctuate regularly. Even if you think you had the best price for Jimmy insurance a few years ago you may be paying too much now. Forget anything you know (or think you know) about auto insurance because I’m going to let you in on the secrets to the fastest and easiest way to buy cheaper auto insurance.
Companies don’t always list all their discounts very clearly, so we break down both the well known and the more hidden discounts you could be receiving. If you’re not getting every credit you qualify for, you are paying more than you should be.
Drivers should understand that many deductions do not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like liability, collision or medical payments. So when it seems like it’s possible to get free car insurance, you won’t be that lucky.
For a list of insurance companies who offer car insurance discounts, click this link.
There are a lot of ways to compare insurance coverage prices but one way is less labor-intensive and much quicker. You can waste a few hours (or days) driving to insurance agencies in your area, or you could use online quoting to maximize your effort.
Most of the best insurance companies participate in an industry program that allows shoppers to submit their information once, and each company then returns a price quote based on the submitted data. This saves time by eliminating quote forms to every company.
To access this free quoting program, click to open in new window.
The one disadvantage to using this type of system is that consumers can’t choose which insurance companies to get quotes from. If you wish to select individual companies to request quotes from, we put together a list of insurance coverage companies in your area. Click to view list.
It’s up to you which method you use, but double check that you are using the exact same coverages and limits with every price quote. If the quotes have different deductibles then you won’t be able to truly determine the lowest rate.
Smart consumers have a good feel for the different types of things that help determine your car insurance rates. Understanding what influences your rates enables informed choices that can help you get lower car insurance prices.
The following are some of the factors car insurance companies consider when setting your rates.
When it comes to buying the best auto insurance coverage for your personal vehicles, there is no cookie cutter policy. Everyone’s needs are different so your insurance needs to address that. For example, these questions can help discover whether your personal situation would benefit from an agent’s advice.
If it’s difficult to answer those questions, then you may want to think about talking to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of auto insurance companies in your area. It only takes a few minutes and you can get the answers you need.
Consumers get pounded daily by advertisements for the lowest price auto insurance from the likes of Progressive, Allstate and GEICO. All the companies make the same claim about savings after switching your coverage to them.
But how can every company claim to save you money? It’s all in the numbers.
Insurance companies are able to cherry pick for the type of customer they prefer to insure. An example of a driver they prefer might be between the ages of 30 and 50, a clean driving record, and has a short commute. A propective insured who fits that profile will get the preferred rates and is almost guaranteed to save when they switch companies.
Potential insureds who are not a match for the “perfect” profile will be charged higher premiums and ends up with business going elsewhere. Company advertisements say “people who switch” not “everyone that quotes” save that much. That’s why insurance companies can advertise the savings. That is why drivers should get as many comparisons as possible. It’s not possible to predict which insurance companies will fit your personal profile best.
Understanding the coverages of your policy aids in choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Shown next are the normal coverages offered by car insurance companies.
Coverage for medical payments and/or PIP kick in for immediate expenses such as dental work, hospital visits and rehabilitation expenses. They are used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage
This protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.
Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
This coverage covers damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims such as hitting a deer, damage from a tornado or hurricane and vandalism. The maximum payout your car insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Liability insurance can cover damage that occurs to a person or their property in an accident. It protects you from claims by other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 that means you have a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.
Liability coverage protects against things like attorney fees, court costs and bail bonds. The amount of liability coverage you purchase is up to you, but buy as large an amount as possible.
Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision insurance covers things like colliding with another moving vehicle, colliding with a tree, hitting a mailbox and rolling your car. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. You can also increase the deductible to bring the cost down.
Cost effective 1993 GMC Jimmy insurance is possible on the web as well as from independent agents, so you should compare both to get a complete price analysis. There are still a few companies who don’t offer you the ability to get quotes online and usually these regional insurance providers provide coverage only through local independent agents.
You just learned many ways to compare insurance prices online. The most important thing to understand is the more providers you compare, the better chance you’ll have of finding lower rates. Drivers may discover the lowest priced insurance comes from a smaller regional carrier. They may only write in your state and offer lower rates than the large multi-state companies such as Progressive and GEICO.
As you prepare to switch companies, do not skimp on critical coverages to save a buck or two. There are a lot of situations where drivers have reduced full coverage only to regret that it was a big mistake. The proper strategy is to find the BEST coverage at a price you can afford while still protecting your assets.