Confused by the crazy number of insurance companies? You’re not the only one! People have so many choices that it can quickly become a ton of work to find the best price.
It’s a good habit to price shop coverage yearly because insurance rates are usually higher with each renewal. Despite the fact that you may have had the lowest rates for Traverse insurance on your last policy you can probably find a better price now. There is too much inaccurate information about insurance online but we’re going to give you some proven techniques to quit paying high insurance rates.
To find the best auto insurance prices, there are several ways to get quotes from local auto insurance companies. The best method to find the cheapest 2014 Chevy Traverse insurance rates consists of obtaining rate quotes online. This can be done in just a few minutes using one of these methods.
It doesn’t matter which method you choose, just make absolute certain that you use the exact same coverages with each company. If each company quotes differing limits it will be impossible to determine the lowest rate for your Chevy Traverse. Having just a slight variation in coverages can result in a big premium difference. It’s important to know that comparing a large number of companies helps you find the best rates.
Car insurance is not cheap, but you can get discounts to reduce the price significantly. Some discounts apply automatically at the time of purchase, but some may not be applied and must be specifically requested before they will apply.
As a disclaimer on discounts, many deductions do not apply to the entire cost. Some only reduce the cost of specific coverages such as medical payments or collision. So when it seems like it’s possible to get free car insurance, it doesn’t quite work that way. But any discount will cut the cost of coverage.
Insurance companies that possibly offer some of the above discounts include:
Before buying, ask every prospective company which discounts you may be entitled to. Discounts may not apply in your area.
When choosing proper insurance coverage, there really is not a single plan that fits everyone. Every situation is different.
Here are some questions about coverages that may help you determine if your insurance needs might need professional guidance.
If you’re not sure about those questions then you might want to talk to a licensed agent. If you don’t have a local agent, simply complete this short form.
It’s important that you understand the rating factors that come into play when calculating the rates you pay for auto insurance. When you know what positively or negatively impacts premium levels helps enable you to make changes that will entitle you to lower auto insurance prices.
The list below includes a few of the “ingredients” that factor into prices.
Auto insurance companies such as Allstate and Progressive continually stream television and radio advertisements. They all seem to say the same thing of big savings after switching your policy. How does each company claim to save you money? This is how they do it.
All the different companies can use profiling for the type of customer that earns them a profit. For example, a profitable customer might be profiled as over the age of 40, insures multiple vehicles, and drives less than 7,500 miles a year. A propective insured who meets those qualifications is entitled to the best price and therefore will save a lot of money.
Potential insureds who don’t measure up to this ideal profile will be quoted a more expensive rate which leads to the customer not buying. The ad wording is “customers that switch” but not “drivers who get quotes” save that kind of money. That’s why companies can truthfully advertise the savings.
This emphasizes why drivers should get a wide range of price quotes. You cannot predict the company that will give you the biggest savings on Chevy Traverse insurance.
Having a good grasp of insurance can be of help when determining which coverages you need for your vehicles. Policy terminology can be difficult to understand and coverage can change by endorsement.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually these limits are identical to your policy’s liability coverage.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP kick in for bills such as nursing services, rehabilitation expenses and pain medications. They are utilized in addition to your health insurance program or if there is no health insurance coverage. It covers all vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Liability coverage – This protects you from damage that occurs to a person or their property in an accident. It protects YOU against claims from other people. It does not 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 that means you have $100,000 bodily injury coverage, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) which provides one coverage limit with no separate limits for injury or property damage.
Liability can pay for things like medical services, structural damage, medical expenses, attorney fees and pain and suffering. How much liability coverage do you need? That is up to you, but you should buy as much as you can afford.
Comprehensive insurance – This coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like a broken windshield, hail damage and rock chips in glass. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Collision coverage – This covers damage to your Traverse resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision coverage pays for things like crashing into a ditch, hitting a mailbox, colliding with another moving vehicle and backing into a parked car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Another option is to raise the deductible in order to get cheaper collision rates.
Cost effective 2014 Chevy Traverse insurance is possible both online as well as from independent agents, so you should be comparing quotes from both to have the best selection. There are still a few companies who don’t offer the ability to get a quote online and most of the time these smaller companies sell through independent agents.
People change insurance companies for any number of reasons including unfair underwriting practices, policy non-renewal, high rates after DUI convictions or denial of a claim. Regardless of your reason, switching insurance coverage companies is less work than it seems.
We just covered some good ideas how you can save on insurance. The key thing to remember is the more times you quote, the higher the chance of saving money. You may even discover the best price on insurance coverage is with an unexpected company.
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