High-priced auto insurance can consume your budget and put the squeeze on your family’s finances. Performing a price comparison is free and is an excellent way to make sure you’re not throwing money away.
With so many companies and agents to choose from, it can be diffult for drivers to pick a lower cost auto insurance company.
You should make it a habit to compare premium rates on a regular basis since insurance prices go up and down regularly. Even if you think you had the best quotes for RL insurance on your last policy you can probably find a better rate now. Ignore everything you know about auto insurance because you’re about to find out the right way to buy cheaper auto insurance.
Shopping for the cheapest auto insurance coverage is easy if you know what you’re doing. If you have a current auto insurance policy or need a new policy, you can use this information to shop for the lowest rates while maximizing coverage. Drivers just need to learn the proper methods to compare price quotes online.
Many different elements are used in the calculation when you get a price on insurance. Some are obvious such as your driving record, although some other factors are more transparent like where you live or how safe your car is.
The following are some of the items that factor into your premiums.
The most recommended method to compare policy rates is to know the trick all the major auto insurance companies allow for online access to provide you with free rate quotes. All consumers are required to do is provide a little information such as whether you are single or married, your general credit rating, if it has an alarm system, and the type of vehicles you drive. That rating information is then sent to multiple companies and you get price estimates very quickly.
Companies don’t necessarily list every discount they offer in a way that’s easy to find, so the following is a list of a few of the more well known as well as the least known credits available to lower your premiums when you buy auto insurance online.
A little disclaimer on discounts, most discount credits are not given to all coverage premiums. Most cut the price of certain insurance coverages like collision or personal injury protection. So even though you would think all the discounts add up to a free policy, it’s just not the way it works.
Companies and the discounts they provide are:
Before purchasing a policy, check with all the companies what discounts are available to you. Some of the earlier mentioned discounts may not apply in your area. To see a list of insurance companies who offer cheap car insurance quotes, click this link.
When buying adequate coverage, there isn’t really a best way to insure your cars. Coverage needs to be tailored to your specific needs and your policy should reflect that. For instance, these questions may help you determine if your situation will benefit from professional help.
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It only takes a few minutes and can provide invaluable advice.
Learning about specific coverages of your policy helps when choosing which coverages you need at the best deductibles and correct limits. Auto insurance terms can be confusing and coverage can change by endorsement. Below you’ll find typical coverage types found on the average auto insurance policy.
Collision coverage protection
Collision insurance pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims such as driving through your garage door, scraping a guard rail, sustaining damage from a pot hole and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to bring the cost down.
Comprehensive coverage (or Other than Collision)
This coverage pays for damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive can pay for things such as damage from getting keyed, hitting a bird, a broken windshield and damage from a tornado or hurricane. The highest amount your auto insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Insurance for medical payments
Coverage for medical payments and/or PIP provide coverage for immediate expenses for funeral costs, doctor visits and X-ray expenses. They are often used in conjunction with a health insurance program or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay
Liability
This coverage will cover damages or injuries you inflict on a person or their property by causing an accident. It protects YOU from claims by other people, and doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/25 that translate to a $25,000 limit per person for injuries, $50,000 for the entire accident, and $25,000 of coverage for damaged propery. Occasionally you may see one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage protects against things such as funeral expenses, medical expenses, legal defense fees and repair costs for stationary objects. How much liability coverage do you need? That is a personal decision, but you should buy higher limits if possible.
Uninsured Motorist or Underinsured Motorist insurance
This protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include medical payments for you and your occupants and damage to your Acura RL.
Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Most of the time these limits are set the same as your liablity limits.
When buying insurance coverage, make sure you don’t buy less coverage just to save a little money. There are too many instances where someone sacrificed comprehensive coverage or liability limits only to regret at claim time that the savings was not a smart move. Your strategy should be to get the best coverage possible at the best price while still protecting your assets.
In this article, we covered a lot of techniques to save on 2007 Acura RL insurance. The key thing to remember is the more quotes you get, the more likely it is that you will get a better rate. Drivers may discover the biggest savings come from a small mutual company. These smaller insurers may only write in your state and offer lower premium rates as compared to the big name companies such as Allstate or State Farm.
To learn more, take a look at the resources below: