Being forced to pay for overpriced insurance premiums can eat up your savings account and make it tough to pay other bills. Doing a rate comparison is a smart way to lower your bills every month.
There is such a variety of car insurance companies to pick from, and even though it’s nice to have a selection, so many choices can make it hard to locate the cheapest rates.
It’s a good habit to compare prices periodically because prices are rarely the same from one policy term to another. Even if you think you had the best price for Taurus insurance a few years ago other companies may now be cheaper. There are a lot of ways to save on insurance out there, but by reading this article, you’re going to learn some great ways to find cheap insurance.
This article will tell you the best way to quote coverages. If you have car insurance now, you will most likely be able to reduce your rates substantially using these techniques. But drivers must learn how companies compete online because it can help you find the best coverage.
Many different elements are used in the calculation when you get a price on insurance. Some are pretty understandable like a motor vehicle report, but others are more obscure such as whether you are married and annual miles driven.
The list below includes some of the major factors used by companies to determine your rates.
Some providers don’t necessarily list all their discounts in a way that’s easy to find, so the list below details both well-publicized as well as some of the hidden credits available to bring down your rates.
It’s important to understand that most credits do not apply to the entire cost. Most cut the cost of specific coverages such as liability, collision or medical payments. So when the math indicates you could get a free insurance policy, nobody gets a free ride.
A few of the larger companies and the discounts they provide are detailed below.
If you are trying to find the cheapest insurance coverage quotes, ask every insurance company which discounts you qualify for. Depending on the company, some discounts may not apply to policies in every state. To see a list of insurers who offer online insurance quotes, follow this link.
When choosing proper insurance coverage for your personal vehicles, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs so this has to be addressed. For example, these questions might help in determining whether or not you might need an agent’s assistance.
If you can’t answer these questions but a few of them apply, you might consider 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.
Having a good grasp of your policy can be of help when determining the best coverages at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are the usual coverages offered by insurance companies.
Comprehensive coverage (or Other than Collision) – This pays for 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 coverage protects against things such as rock chips in glass, theft, hail damage and hitting a deer. The most a insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Insurance for medical payments – Coverage for medical payments and/or PIP kick in for bills for EMT expenses, pain medications, ambulance fees and chiropractic care. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. 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 is only offered in select states but it provides additional coverages not offered by medical payments coverage
Liability insurance – Liability insurance provides protection from damages or injuries you inflict on a person or their property that is your fault. It protects you from legal claims by others. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 100/300/100 that means you have $100,000 bodily injury coverage, $300,000 for the entire accident, and property damage coverage for $100,000. Some companies may use a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability insurance covers things such as structural damage, repair costs for stationary objects and funeral expenses. How much coverage you buy is a personal decision, but you should buy higher limits if possible.
Collision coverages – Collision insurance pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things such as scraping a guard rail, crashing into a ditch, colliding with another moving vehicle, rolling your car and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to bump up the deductible to bring the cost down.
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as damage to your 2011 Ford Taurus.
Since a lot of drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Usually the UM/UIM limits are set the same as your liablity limits.
When buying insurance coverage, it’s a bad idea to buy less coverage just to save a little money. In too many instances, an accident victim reduced liability coverage limits only to discover later that it was a big error on their part. The aim is to buy the best coverage you can find for the lowest price while still protecting your assets.
Budget-conscious 2011 Ford Taurus insurance is available both online and also from your neighborhood agents, so you need to quote insurance coverage with both in order to have the best price selection to choose from. A few companies may not offer the ability to get a quote online and many times these small insurance companies sell through independent insurance agents.