Overpriced car insurance can take a big chunk out of your monthly budget and put a big crunch on your finances. Shopping your coverage around can save money and help to make ends meet.
There is such a variety of insurance companies to choose from, and though it is a good thing to be able to choose, having more insurance companies makes it harder to find the best rates for your vehicles.
It’s a great practice to get comparison quotes occasionally because prices tend to go up over time. Even if you got the best price on HHR insurance a few years ago there is a good chance you can find better rate quotes now. Forget all the misinformation about car insurance because you’re about to learn one of the easiest ways to save money, get proper coverage and the best rates.
Auto insurance companies don’t always publicize every possible discount very clearly, so the following is a list of both the well known and also the more inconspicuous ways to save on insurance coverage.
It’s important to note that most credits do not apply the the whole policy. Some only apply to the cost of specific coverages such as liability, collision or medical payments. So when it seems like you can get free auto insurance, insurance coverage companies aren’t that generous.
To choose insurers with discount insurance coverage rates, click this link.
When shopping for car insurance there are multiple ways of comparing rate quotes from lots of car insurance companies. The recommended way to do a complete rate comparison is simply to get online rate quotes. This can be accomplished in a couple minutes as outlined below.
The method you choose is up to you, but be sure to compare the same information for each quote you get. If you have differing limits it’s not possible to get a fair rate comparison. Having just a slight variation in coverage limits may result in large price differences. Keep in mind that comparing all the rates in your area increases the change that you will find better pricing. Some smaller insurers to not give online price quotes, so it’s important to compare price estimates from the smaller companies as well.
When buying proper insurance coverage, there really is no single plan that fits everyone. Everyone’s situation is a little different so your insurance needs to address that. Here are some questions about coverages that can help discover if you would benefit from professional advice.
If it’s difficult to answer those questions but a few of them apply, then you may want to think about talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of car insurance companies in your area.
Knowing the specifics of your policy can be of help when determining which coverages you need for your vehicles. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Listed below are the normal coverages offered by auto insurance companies.
Comprehensive auto coverage
This will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like damage from flooding, damage from a tornado or hurricane, fire damage and falling objects. The maximum amount you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Collision coverage protection
This covers damage to your HHR caused by 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 pays for claims like scraping a guard rail, rolling your car, backing into a parked car and sideswiping another vehicle. Collision is rather expensive coverage, so consider dropping it from older vehicles. Another option is to bump up the deductible in order to get cheaper collision rates.
Auto liability insurance
Liability coverage will cover damages or injuries you inflict on a person or their property by causing an accident. This coverage protects you from legal claims by others, and does not provide coverage for damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage protects against claims like court costs, repair bills for other people’s vehicles and repair costs for stationary objects. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for short-term medical expenses such as nursing services, ambulance fees, pain medications and funeral costs. They can be utilized in addition to your health insurance program or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage gives you protection when other motorists do not carry enough liability coverage. Covered claims include injuries to you and your family and also any damage incurred to your Chevy HHR.
Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Some insurance providers do not offer online rate quotes and many times these small insurance companies only sell through independent agents. Cheaper auto insurance can be purchased on the web in addition to many insurance agents, so you need to compare both so you have a total pricing picture.
When trying to cut insurance costs, do not skimp on critical coverages to save a buck or two. There have been many cases where drivers have reduced liability limits or collision coverage and learned later that the savings was not a smart move. Your goal should be to find the BEST coverage for the lowest price, but do not skimp to save money.