Nobody I know looks forward to paying for auto insurance, especially when the cost is way too high.
Because there are so many companies and agents to choose from, it’s nearly impossible to locate the lowest cost car insurance company.
It’s a good habit to shop coverage around quite often since insurance rates change quite often. Just because you found the best rates for Caravan coverage two years ago you can probably find a better price now. There is a lot of wrong information about auto insurance on the web, but I’m going to show you some great ways to reduce your auto insurance bill.
Insurance can be prohibitively expensive, but there could be available discounts that many people don’t even know exist. Certain discounts will be triggered automatically at the time you complete a quote, but a few must be asked about prior to getting the savings.
Keep in mind that most discounts do not apply to your bottom line cost. Some only apply to individual premiums such as medical payments or collision. So when it seems like you would end up receiving a 100% discount, it just doesn’t work that way. But any discount will help reduce the amount you have to pay.
For a list of companies offering insurance coverage discounts, click this link.
When it comes to buying coverage for your vehicles, there isn’t really a “perfect” insurance plan. Each situation is unique and a cookie cutter policy won’t apply. These are some specific questions may help highlight if your situation may require specific advice.
If it’s difficult to answer those questions but a few of them apply, you may need to chat with an agent. To find an agent in your area, simply complete this short form or click here for a list of auto insurance companies in your area.
Car insurance providers like State Farm and Allstate continually stream television and radio advertisements. They all make the same claim about savings after switching to their company. How do they all say the same thing? It’s all in the numbers.
Insurance companies are able to cherry pick for the right customer that makes them money. A good example of a desirable insured could be between 25 and 40, insures multiple vehicles, and has excellent credit. Any new insured who fits that profile will get very good rates and most likely will save quite a bit of money when switching.
Potential insureds who do not match this ideal profile will be quoted higher rates and ends up with business not being written. The ads say “drivers who switch” not “everyone that quotes” save money. That’s why insurance companies can make those claims.
This emphasizes why you absolutely need to get as many comparisons as possible. It’s impossible to know which company will provide you with the cheapest Dodge Caravan insurance rates.
Having a good grasp of a car insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. Car insurance terms can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverage types found on most car insurance policies.
Comprehensive auto coverage
Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like damage from getting keyed, a tree branch falling on your vehicle and damage from flooding. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP pay for bills such as rehabilitation expenses, prosthetic devices, dental work, pain medications and funeral costs. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers you and your occupants and also covers getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage
This will cover damage or injury you incur to other’s property or people in an accident. This insurance protects YOU against claims from 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. Your policy might show liability limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Another option is one number which is a combined single limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability insurance covers claims like pain and suffering, attorney fees, structural damage, bail bonds and funeral expenses. How much coverage you buy is up to you, but you should buy as large an amount as possible.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision insurance covers claims such as hitting a mailbox, hitting a parking meter, sustaining damage from a pot hole and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. You can also increase the deductible to bring the cost down.
Low-cost 1995 Dodge Caravan insurance can be bought both online and with local insurance agents, and you should be comparing both to have the best rate selection. Some insurance companies do not offer online price quotes and many times these smaller companies only sell through independent insurance agents.
You just learned a lot of tips how to lower your insurance rates. The most important thing to understand is the more you quote, the better your chances of lowering your rates. Consumers could even find that the best prices are with a small local company. They may cover specific market segments cheaper as compared to the big name companies such as Allstate or State Farm.
Additional insurance information can be found on the following sites: