Having to pay for overpriced car insurance can empty your savings account and put a big crunch on your finances. Shopping your coverage around is free and is an excellent way to slash your bill and have more diposable income.
You have so many insurance companies to pick from, and even though it’s nice to be able to choose, so many choices can make it hard to get the best deal.
Consumers need to get comparison quotes every six months because prices are rarely the same from one policy term to another. Even if you got the lowest rates for Element insurance six months ago a different company probably has better rates today. Forget anything you know (or think you know) about car insurance because you’re about to learn the tricks you need to know to lower your rates without sacrificing coverage.
Finding affordable insurance is simple if you know the tricks. Basically, everyone who is required by state law to have insurance will most likely be able to save money. Although drivers must comprehend the methods companies use to compete online and use this information to your advantage.
The cost of insuring your cars can be expensive, buy you may qualify for discounts to help bring down the price. Some trigger automatically at the time you complete a quote, but lesser-known reductions have to be manually applied before they will apply.
As a disclaimer on discounts, most of the big mark downs will not be given to the overall cost of the policy. Some only apply to individual premiums such as collision or personal injury protection. So even though it sounds like you would end up receiving a 100% discount, companies wouldn’t make money that way. But any discount will bring down the cost of coverage.
To see a list of companies offering insurance discounts, click here to view.
When it comes to buying the best insurance coverage coverage, there isn’t really a cookie cutter policy. Everyone’s situation is unique so this has to be addressed. Here are some questions about coverages that may help highlight if your insurance needs will benefit from professional help.
If you’re not sure about those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, fill out this quick form or you can go here for a list of companies in your area.
Understanding the coverages of your auto insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Shown next are the normal coverages available from auto insurance companies.
Med pay and PIP coverage provide coverage for expenses such as funeral costs, pain medications, surgery and prosthetic devices. They are often used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not an option in every state and gives slightly broader coverage than med pay
This provides protection when the “other guys” 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.
Due to the fact that many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently these limits are identical to your policy’s liability coverage.
Liability coverage protects you from damages or injuries you inflict on other people or property. This coverage protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount with no separate limits for injury or property damage.
Liability coverage protects against things such as legal defense fees, court costs, loss of income, pain and suffering and emergency aid. How much liability should you purchase? That is a decision to put some thought into, but consider buying as high a limit as you can afford.
This coverage will pay to fix damage to your Element caused by collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision coverage protects against things such as sideswiping another vehicle, colliding with a tree, hitting a parking meter and crashing into a building. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible to get cheaper collision coverage.
This coverage pays for damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like fire damage, theft, falling objects, hitting a deer and rock chips in glass. The maximum amount 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.
As you restructure your insurance plan, it’s not a good idea to reduce needed coverages to save money. There are too many instances where an accident victim reduced physical damage coverage only to regret that it was a big error on their part. The aim is to buy a smart amount of coverage at the best price.
The cheapest 2011 Honda Element insurance can be bought online as well as from independent agents, so you should compare both to get a complete price analysis. Some companies don’t offer online quoting and most of the time these regional insurance providers sell through independent agents.
To learn more, feel free to browse the following helpful articles: