How Much Does 2005 Mitsubishi Eclipse Spyder Car Insurance Cost?

Having to pay for overpriced car insurance can empty your personal savings and force you to make sacrifices. Shopping your coverage around is free and is an excellent way to lower your monthly bill.

Insurance companies such as Geico, Farmers Insurance and State Farm all claim big savings, bombarding you with ads and consumers find it hard to ignore the flashy ads and do the work needed to find the best deal.

It’s a good idea to shop coverage around at least once a year because rates trend upward over time. Even if you got the best deal for Eclipse Spyder coverage six months ago a different company probably has better rates today. You can find a lot of misleading information regarding car insurance online but by reading this article, you’re going to learn the best ways to buy car insurance cheaper.

Auto Insurance Prices

There are a variety of methods to shop for 2005 Mitsubishi Eclipse Spyder auto insurance, and some are less labor-intensive and much quicker. You could waste time talking about coverages with insurance agencies in your area, or you could save time and use the web to quickly compare rates.

Most of the best insurance companies participate in an industry program where prospective buyers complete one form, and every company can provide price quotes. This saves time by eliminating quotation requests for each company.

To compare 2005 Mitsubishi Eclipse Spyder rates now click here (opens in new window).

The one downside to pricing coverage this way is buyers cannot specifically choose which providers you will receive quotes from. So if you prefer to choose individual companies to compare rates, we have assembled a list of auto insurance companies in your area. View list of insurance companies.

It’s your choice how you get your quotes, but make absolute certain that you use apples-to-apples coverage limits for each comparison quote. If you compare differing limits it’s impossible to determine the lowest rate for your Mitsubishi Eclipse Spyder. Slightly different coverages may cause a big price difference. Just remember that obtaining a wide range of quotes will increase your chances of finding the best rates.

Can you really save that much by switching?

Companies like Progressive, Geico, Allstate and State Farm consistently run ads on TV and radio. All the ads make an identical promise that you can save if you change to them. How does each company say the same thing? It’s all in the numbers.

All the different companies can use profiling for the right customer they prefer to insure. For example, a profitable customer could possibly be over the age of 40, owns a home, and has excellent credit. A propective insured that hits that “sweet spot” will get very good rates and as a result will probably pay quite a bit less when switching companies.

Consumers who fall outside the requirements will be quoted higher prices which usually ends up with the customer not buying. The ads say “drivers who switch” not “everybody who quotes” save money. That is how companies can advertise the savings.

This emphasizes why it is so important to compare many company’s rates. It’s not possible to predict which company will provide you with the cheapest Mitsubishi Eclipse Spyder insurance rates.

Why your Mitsubishi Eclipse Spyder insurance rates may be high

Consumers need to have an understanding of some of the elements that go into determining the rates you pay for car insurance. Having a good understanding of what controls the rates you pay allows you to make educated decisions that will entitle you to lower car insurance prices.

Listed below are a few of the “ingredients” companies use to determine prices.

  • Teen drivers pay high rates – Young drivers are known to get distracted easily when behind the wheel so car insurance rates are higher. Older insureds are more responsible, tend to cause fewer accidents and receive fewer citations.
  • Do you know your deductibles? – Physical damage coverage, also known as collision and other-than-collision, is used to repair damage to your Mitsubishi. A few examples of covered claims would be collision with another vehicle, damage from fire, or theft. Deductibles for physical damage are how much you are required to spend in the event of a claim. The more you have to pay, the lower your rates will be for Eclipse Spyder coverage.
  • Pay less after the wedding – Having a spouse can actually save you money when buying car insurance. Having a spouse is viewed as being more responsible and statistics show married drivers get in fewer accidents.
  • Sex matters – Statistics have proven that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. They both have accidents at about the same rate, but the men cause more damage. Men also statistically receive more costly citations such as reckless driving. Young males are several times more likely to be in an accident and thus pay the highest rates.
  • Rural vs Urban Areas – Living in a small town has it’s advantages when insuring your vehicles. Less people living in that area means fewer accidents. Urban drivers regularly have congested traffic and longer commutes to work. Higher commute times means more change of being in an accident.
  • Little extras can really add up – There are quite a few additional coverages that can waste your money when buying car insurance. Coverages like vanishing deductibles, accident forgiveness and membership fees are examples of these. These coverages may sound good initially, but your needs may have changed so get rid of them and save.

Are you getting all your discounts?

The cost of insuring your cars can be expensive, but companies offer discounts to help offset the cost. Certain discounts will be triggered automatically when you complete an application, but a few must be asked for prior to receiving the credit.

  • Defensive Driving Course – Successfully completing a course teaching defensive driving skills could save 5% or more depending on where you live.
  • Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you may reduce your total bill.
  • Homeowners Pay Less – Simply owning a home may earn you a small savings because maintaining a house requires personal responsibility.
  • Early Signing – Select companies give a discount for signing up before your current policy expires. This can save 10% or more.
  • No Claims – Drivers who don’t have accidents can earn big discounts when compared with frequent claim filers.
  • Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less for Eclipse Spyder coverage than their less cautious counterparts.
  • Multiple Cars – Buying coverage for all your vehicles with the same company can get a discount on all vehicles.
  • Accident Waiver – A few companies will forgive one accident before your rates go up if you are claim-free for a certain period of time.
  • Drive Less and Save – Driving fewer miles can qualify you for discounted rates on garaged vehicles.
  • Military Discounts – Having a deployed family member could mean lower rates.

It’s important to note that many deductions do not apply to the overall cost of the policy. Most cut the price of certain insurance coverages like medical payments or collision. So when the math indicates all those discounts means the company will pay you, it doesn’t quite work that way. Any qualifying discounts will reduce the cost of coverage.

Companies that possibly offer these discounts include:

Before buying, ask every prospective company how you can save money. Discounts might not apply in every state.

When might I need an agent?

When buying the right insurance coverage for your personal vehicles, there really is not a “best” method to buy coverage. Every insured’s situation is different and your policy should reflect that. For example, these questions may help you determine if your situation could use an agent’s help.

  • Are my friends covered when driving my 2005 Mitsubishi Eclipse Spyder?
  • Why do I need rental car insurance?
  • What is the minimum liability in my state?
  • Is my dog or cat covered if injured in an accident?
  • Should I waive the damage coverage when renting a car?
  • When should I buy a commercial auto policy?

If you’re not sure about those questions then you might want to talk to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.

Specific coverages for a Mitsubishi Eclipse Spyder

Learning about specific coverages of auto insurance helps when choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and coverage can change by endorsement. Shown next are the usual coverages offered by auto insurance companies.

Liability

Liability coverage can cover damage or injury you incur to people or other property that is your fault. This coverage protects you from legal claims by others, and doesn’t cover 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. Your policy might show policy limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and a limit of $100,000 paid for damaged property. Occasionally you may see a combined limit that pays claims from the same limit without having the split limit caps.

Liability insurance covers claims like court costs, structural damage, medical services and bail bonds. How much liability should you purchase? That is up to you, but you should buy as high a limit as you can afford.

Collision coverage protection

Collision coverage pays for damage to your Eclipse Spyder caused by collision with another car or object. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for things like crashing into a building, colliding with another moving vehicle and damaging your car on a curb. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to save money on collision insurance.

UM/UIM Coverage

This gives you protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your Mitsubishi Eclipse Spyder.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Frequently these coverages do not exceed the liability coverage limits.

Comprehensive or Other Than Collision

Comprehensive insurance coverage covers damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as hitting a deer, theft, damage from flooding and damage from a tornado or hurricane. The maximum payout your auto insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Medical costs insurance

Medical payments and Personal Injury Protection insurance kick in for bills like chiropractic care, nursing services, prosthetic devices, ambulance fees and hospital visits. They are often used in conjunction with a health insurance plan or if you are not covered by health insurance. They cover all vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Never pay more for less

When buying insurance coverage, don’t be tempted to reduce coverage to reduce premium. There have been many cases where someone sacrificed liability coverage limits and found out when filing a claim that the few dollars in savings costed them thousands. Your aim should be to get the best coverage possible at an affordable rate, not the least amount of coverage.

The cheapest 2005 Mitsubishi Eclipse Spyder insurance is available on the web and also from your neighborhood agents, so compare prices from both so you have a total pricing picture. There are still a few companies who may not provide online quoting and most of the time these smaller companies sell through independent agents.

You just read many ideas to compare insurance prices online. It’s most important to understand that the more providers you compare, the more likely it is that you will get a better rate. Consumers may even find the lowest rates come from a smaller regional carrier. Some small companies may only write in your state and offer lower rates than the large multi-state companies such as Allstate or State Farm.

Much more information about auto insurance can be read on the following sites: