Feel like you’re a prisoner to an overpriced car insurance policy? Trust us, there are many consumers feeling the pinch from expensive car insurance. Consumers have many car insurance companies to purchase coverage from, and although it’s a good thing to have multiple companies, it makes it harder to get the best deal.
Consumers need to take a look at other company’s rates yearly because rates tend to go up over time. Just because you found the best rates on Sierra coverage six months ago you can probably find a better price now. There is a lot of bad information regarding car insurance online but I’m going to show you some great ways to reduce your car insurance bill.
It’s important that you understand the factors that come into play when calculating the rates you pay for car insurance. Knowing what impacts premium levels empowers consumers to make smart changes that may reward you with lower car insurance prices.
The quickest way to compare policy rates is to know the fact auto insurance companies actually pay money for the chance to compare their rates. The only thing you need to do is provide the companies a bit of rating information including what your job is, the type of vehicles you drive, how much coverage you want, and whether you have decent credit. Your information is instantly sent to many different companies and they return quotes instantly to find the best rate.
Car insurance is not cheap, but you can get discounts to help offset the cost. Certain discounts will be triggered automatically at quote time, but less common discounts must be asked for before you get the savings. If they aren’t giving you every credit available, you’re just leaving money on the table.
Drivers should understand that some of the credits will not apply to the entire cost. Most only cut the cost of specific coverages such as liability, collision or medical payments. So even though it sounds like all the discounts add up to a free policy, companies don’t profit that way. Any qualifying discounts will help reduce your premiums.
To see a list of insurance companies with the best insurance coverage discounts, follow this link.
When it comes to buying the right insurance coverage, there is no single plan that fits everyone. Everyone’s needs are different so your insurance should reflect that For instance, these questions may help you determine if your situation might need an agent’s assistance.
If you can’t answer these questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, simply complete this short form or you can also visit this page to select a carrier It’s fast, doesn’t cost anything and can provide invaluable advice.
Understanding the coverages of your policy helps when choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are the normal coverages found on most auto insurance policies.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP reimburse you for immediate expenses for things like surgery, X-ray expenses, prosthetic devices and pain medications. The coverages can be utilized in addition to your health insurance plan or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and also covers getting struck while a pedestrian. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage gives you protection 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.
Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Usually these coverages are identical to your policy’s liability coverage.
Auto liability insurance – Liability coverage will cover damage that occurs to other people or property by causing an accident. This coverage protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: 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 limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability can pay for things like repair costs for stationary objects, medical expenses, court costs, medical services and bail bonds. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible.
Collision – Collision insurance pays for damage to your Sierra 2500 from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims such as hitting a parking meter, crashing into a building, rolling your car and crashing into a ditch. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible in order to get cheaper collision rates.
Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as damage from a tornado or hurricane, damage from getting keyed, damage from flooding and hail damage. The most a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
As you prepare to switch companies, never reduce needed coverages to save money. There are many occasions where someone dropped physical damage coverage only to find out they didn’t have enough coverage. Your focus should be to find the BEST coverage at the best price while still protecting your assets.
Affordable 2004 GMC Sierra 2500 insurance can be found both online and with local insurance agents, so compare prices from both to have the best selection. Some insurance companies do not offer online price quotes and these smaller companies work with independent agents.
We covered a lot of information how to shop for insurance online. It’s most important to understand that the more rate comparisons you have, the more likely it is that you will get a better rate. You may be surprised to find that the best price on insurance is with a small local company. These smaller insurers may have significantly lower rates on certain market segments compared to the large companies like State Farm and Allstate.