Wish you could get a refund on an underperforming, overpriced car insurance policy? Don’t sweat it because there are many people just like you. Insurance companies such as State Farm, Progressive and GEICO constantly blast consumers with catchy ads and it is challenging if not impossible to ignore the flashy ads and effectively compare rates to find the best deal.
Many different elements are used when you quote your car insurance policy. Some factors are common sense such as your driving record, but other criteria are less obvious like your vehicle usage or how safe your car is.
The items below are just a few of the factors used by insurance companies to determine premiums.
There are a lot of ways you can shop for auto insurance and some are less time-consuming than others. You can spend your afternoon talking to agents in your area, or you can utilize the web to maximize your effort.
Most of the larger companies participate in an industry program where insurance shoppers only type in their quote data once, and at least one company then gives them pricing based on the submitted data. This system prevents you from having to do quotation requests to each company.
To fill out one form to compare multiple rates now click here to start a free quote.
The one disadvantage to doing it this way is that you can’t choose the providers you will receive quotes from. So if you prefer to choose specific providers to compare, we have a listing of the cheapest auto insurance companies in your area. View list of insurance companies.
It’s up to you which method you use, but try to keep nearly identical coverage limits and deductibles on every price quote you get. If you compare unequal deductibles or liability limits you will not be able to truly determine the lowest rate.
Consumers can’t escape the ads that claim the cheapest prices from companies such as State Farm, GEICO and Progressive. All the ads make the point about savings after switching your coverage to them.
How do they all claim to save you money? Here is how they do it.
Insurance companies can use profiling for the type of customer that earns them a profit. For instance, a driver they prefer could possibly be over the age of 50, is a homeowner, and drives less than 10,000 miles a year. Anyone that matches those criteria will most likely get cheap premium rates and most likely will pay quite a bit less when switching companies.
Insureds who do not match the requirements will probably have to pay a more expensive rate which leads to the customer buying from someone else. The trick is to say “drivers that switch” but not “all drivers who get quotes” save the amount stated. That’s the way insurance companies can advertise the savings.
Because of this risk profiling, you absolutely need to get car insurance quotes as often as possible. It’s just not possible to know with any certainty which company will fit you best based on your risk profile.
Some insurers don’t always list every discount they offer very well, so the following is a list of some of the more common and the more hidden discounts that may be available.
As a disclaimer on discounts, some of the credits will not apply to your bottom line cost. Most only cut specific coverage prices like comp or med pay. So when it seems like you can get free auto insurance, it just doesn’t work that way.
Insurance companies who may offer some of the discounts shown above include:
If you need lower rates, check with all the companies which discounts you qualify for. Discounts may not apply to policyholders in your state. If you would like to view companies with the best discounts, follow this link.
When it comes to buying the best insurance coverage coverage for your vehicles, there really is no single plan that fits everyone. Everyone’s needs are different so this has to be addressed. These are some specific questions can help discover whether you will benefit from professional help.
If you can’t answer these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and you can get the answers you need.
Understanding the coverages of a car insurance policy can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find the usual coverages offered by car insurance companies.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage protects you and your vehicle when the “other guys” either have no liability insurance or not enough. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses such as hospital visits, EMT expenses and ambulance fees. They are 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 but it provides additional coverages not offered by medical payments coverage
Comprehensive auto coverage
Comprehensive insurance coverage pays for damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things such as vandalism, hitting a deer, fire damage, theft and damage from a tornado or hurricane. The most your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Collision protection
This coverage covers damage to your Expedition resulting from a collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as sideswiping another vehicle, sustaining damage from a pot hole and crashing into a ditch. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. Another option is to increase the deductible to save money on collision insurance.
Liability insurance
This protects you from damages or injuries you inflict on people or other property by causing an accident. This insurance protects YOU from legal claims by others. Liability doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Some companies may use a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.
Liability insurance covers things such as structural damage, repair costs for stationary objects, loss of income, emergency aid and medical expenses. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.
Throughout this article, we presented a lot of techniques to save on 2013 Ford Expedition insurance. The key thing to remember is the more rate quotes you have, the better likelihood of getting cheaper car insurance. Consumers may even find the biggest savings come from a smaller regional carrier. Some small companies may only write in your state and offer lower premium rates compared to the large companies like State Farm and Allstate.
More affordable insurance coverage can be found on the web in addition to many insurance agents, and you need to comparison shop both so you have a total pricing picture. There are still a few companies who may not provide online price quotes and usually these regional carriers only sell coverage through local independent agencies.
When searching for inexpensive car insurance quotes, you should never reduce needed coverages to save money. There have been many cases where consumers will sacrifice comprehensive coverage or liability limits only to regret that it was a big mistake. Your goal is to buy a smart amount of coverage at the best cost.