How Much Does 2001 Mitsubishi Eclipse Spyder Insurance Cost?

Expensive insurance can overdraw your checking account and force you to prioritize other expenses. Comparing price quotes is a great way to help make ends meet.

Numerous insurers battle to insure your vehicles, so it’s not easy to compare every insurer to discover the definitive best price available.

How to Lower Your Car Insurance Cost

There are several ways to compare rate quotes from different insurance companies. The quickest method to find the cheapest 2001 Mitsubishi Eclipse Spyder insurance rates is to use the internet to compare rates. It is quite easy and can be accomplished in several different ways.

  1. The most efficient way to get the best comparison quotes is to use a rate comparison form like this one (opens in new window). This form saves time by eliminating a different quote to each individual car insurance company. Filling out one form will get you price quotes from multiple low-cost companies.
  2. A harder way to compare prices consists of visiting each individual company website and complete a new quote form. For example, let’s say you want rates from USAA, Geico and Travelers. You would have to go to every website and enter your information, which is why the first method is quicker.

    For a list of links to companies insuring cars in your area, click here.

It doesn’t matter which method you choose, just make darn sure you compare the exact same coverage limits on every quote. If each company quotes unequal deductibles or liability limits it will be impossible to determine the lowest rate for your Mitsubishi Eclipse Spyder. Just a small difference in insurance coverages can mean a large discrepancy in price. And when quoting car insurance, remember that obtaining a wide range of quotes gives you a better chance of getting a better price.

Lower rates by qualifying for discounts

Companies offering auto insurance do not advertise all available discounts in a way that’s easy to find, so here is a list some of the best known and also the lesser-known ways to save on insurance.

  • Auto/Life Discount – Companies who offer life insurance give a break if you buy auto and life insurance together.
  • Multiple Cars – Insuring all your vehicles on one policy could earn a price break for each car.
  • Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you can actually save on your bill.
  • Anti-lock Brakes – Cars that have steering control and anti-lock brakes can avoid accidents and earn discounts up to 10%.
  • Homeowners Discount – Being a homeowner can save you money because maintaining a house is proof that your finances are in order.
  • Safety Course Discount – Successfully completing a defensive driving course can save you 5% or more if your company offers it.
  • Fewer Miles Equal More Savings – Keeping the miles down on your Mitsubishi can qualify you for a substantially lower rate.

As a disclaimer on discounts, some of the credits will not apply to the entire policy premium. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears you could get a free insurance policy, companies wouldn’t make money that way.

A partial list of companies that may offer some of the above discounts include:

It’s a good idea to ask all companies you are considering which discounts you may be entitled to. Discounts might not apply in your state.

Car insurance is unique, just like you

When buying coverage, there really is no one size fits all plan. Everyone’s situation is unique so your insurance needs to address that. Here are some questions about coverages that could help you determine if your insurance needs could use an agent’s help.

  • Am I covered if I wreck a rental car?
  • Do I pay less for low miles?
  • Is motorclub coverage worth it?
  • What is the difference between comprehensive and collision coverage?
  • Why do I only qualify for high-risk insurance?
  • Should I have combined single limit or split liability limits?
  • Do all my vehicles need collision coverage?
  • How high should my medical payments coverage be?

If you don’t know the answers to these questions but you know they apply to you then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area.

Car insurance 101

Learning about specific coverages of a car insurance policy can help you determine the right coverages and the correct deductibles and limits. Car insurance terms can be ambiguous and reading a policy is terribly boring. These are the usual coverages found on most car insurance policies.

Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage gives you protection when the “other guys” are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your 2001 Mitsubishi Eclipse Spyder.

Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is a good idea.

Auto liability insurance – Liability insurance can cover damage that occurs to people or other property that is your fault. It protects YOU from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000.

Liability coverage pays for things like structural damage, legal defense fees, funeral expenses and court costs. How much liability coverage do you need? That is up to you, but buy higher limits if possible.

Collision coverages – This coverage covers damage to your Eclipse Spyder caused by collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision coverage protects against claims such as crashing into a building, backing into a parked car and rolling your car. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Drivers also have the option to choose a higher deductible to get cheaper collision coverage.

Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage kick in for immediate expenses such as rehabilitation expenses, X-ray expenses, dental work, funeral costs and EMT expenses. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available but can be used in place of medical payments coverage

Comprehensive insurance – This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive coverage pays for claims like falling objects, damage from a tornado or hurricane, fire damage, theft and hitting a deer. The maximum amount your car insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.