Feel like you have an overpriced insurance policy? Don’t sweat it because many drivers have buyer’s remorse. Many car insurance companies vie to insure your vehicles, and because of this it can be hard to compare insurance companies and get the definite best price available.
Buying insurance coverage is not cheap, but there could be available discounts that could drop your premiums quite a bit. Certain discounts will be applied at quote time, but some must be asked about before you get the savings. If you are not receiving all the discounts available, you are throwing money away.
As a sidenote, most discount credits are not given the the whole policy. Most cut the price of certain insurance coverages like comp or med pay. Just because it seems like it’s possible to get free car insurance, it just doesn’t work that way.
A few popular companies and a partial list of their discounts are included below.
Before buying, ask all the companies what discounts are available to you. Some of the earlier mentioned discounts might not be offered on policies in your area.
Finding a better price on insurance coverage is a great way to save money. You just need to spend a little time to compare rate quotes to discover which company has the cheapest car insurance quotes. It is quite easy and can be accomplished by using one of the methods below.
It’s up to you which method you use, but be sure to compare the same quote data for each quote you get. If each company quotes different data it will be next to impossible to truly determine the lowest rate.
When buying the best car insurance coverage, there isn’t really a cookie cutter policy. Everyone’s situation is unique so your insurance needs to address that. Here are some questions about coverages that could help you determine whether or not you will benefit from professional help.
If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area. It’s fast, free and may give you better protection.
Learning about specific coverages of car insurance can help you determine which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. Below you’ll find the normal coverages offered by car insurance companies.
Uninsured or underinsured coverage
This coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family and damage to your MINI Cooper Clubman.
Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Collision insurance
This coverage covers damage to your Cooper Clubman resulting from colliding with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against claims such as colliding with another moving vehicle, hitting a parking meter, scraping a guard rail and backing into a parked car. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to bring the cost down.
Comprehensive protection
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like damage from a tornado or hurricane, a broken windshield, rock chips in glass, damage from getting keyed and damage from flooding. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for expenses like prosthetic devices, doctor visits, rehabilitation expenses, chiropractic care and surgery. They can be utilized in addition to your health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage
Liability coverages
This coverage protects you from damage that occurs to a person or their property. This coverage protects you against claims from other people, and does not provide coverage for your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Alternatively, you may have a combined limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability insurance covers claims like medical services, emergency aid, court costs and legal defense fees. The amount of liability coverage you purchase is up to you, but consider buying as high a limit as you can afford.
More affordable insurance is attainable both online and from local insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. A few companies do not offer the ability to get a quote online and many times these small, regional companies only sell coverage through independent agencies.
As you prepare to switch companies, don’t be tempted to sacrifice coverage to reduce premiums. There are many occasions where an insured dropped comprehensive coverage or liability limits only to regret they didn’t purchase enough coverage. Your strategy should be to get the best coverage possible at a price you can afford.
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