Looking for lower insurance rates for your Chevrolet Express? Are you regretting buying an expensive insurance policy? You’re in good company because many drivers feel the same as you. Big-name insurance companies like GEICO, 21st Century and Progressive all claim big savings with catchy ads and it can be hard to see through the deception and take the time to shop coverage around.
Multiple criteria are part of the equation when you get your auto insurance bill. Some factors are common sense like an MVR report, although others are less apparent like where you live or how safe your car is.An important part of buying insurance is that you know a few of the rating criteria that help calculate the rates you pay for insurance coverage. If you have some idea of what determines base rates, this empowers consumers to make smart changes that can help you get lower rates.
The factors shown below are some of the major factors used by companies to determine your prices.
Auto insurance companies don’t always list all disounts in a way that’s easy to find, so the following is a list of a few of the more well known and also the more inconspicuous discounts you could be receiving when you buy insurance coverage online.
A little disclaimer on discounts, most discounts do not apply to the overall cost of the policy. Most only reduce individual premiums such as liability and collision coverage. Even though the math looks like you could get a free insurance policy, it’s just not the way it works.
A few popular companies and the discounts they provide are outlined below.
Check with every prospective company the best way to save money. Some of the earlier mentioned discounts may not apply to policies in your area.
Consumers can’t avoid all the ads for auto insurance savings from companies such as Progressive, Allstate and GEICO. They all seem to state the claim about how much you will save if you change your policy.
How is it possible that every company can charge you less for car insurance?
Companies are able to cherry pick for the driver that will add to their bottom line. An example of a profitable insured might be married and over the age of 30, has other policies, and drives newer vehicles. Any driver that fits those parameters will get the preferred premium rates and will probably pay quite a bit less when switching companies.
Potential insureds who are not a match for these criteria will be charged a higher rate and this results in the prospect going elsewhere. The trick companies use is to say “people who switch” not “all people who quote” save that kind of money. This is how companies can make it sound like they have such great rates.
This really emphasizes why it’s extremely important to get insurance coverage quotes from several different companies. It is impossible to predict with any certainty which company will fit you best based on your risk profile.
When it comes to buying adequate coverage for your vehicles, there really is not a cookie cutter policy. Everyone’s situation is a little different so this has to be addressed. These are some specific questions may help you determine if your insurance needs would benefit from professional advice.
If you’re not sure about those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, complete this form or go to this page to view a list of companies. It is quick, free and can help protect your family.
Understanding the coverages of your policy can help you determine appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverages available from insurance companies.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage pay for expenses for things like hospital visits, EMT expenses, dental work and pain medications. The coverages can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. They cover both the driver and 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 and gives slightly broader coverage than med pay
Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include injuries to you and your family as well as damage to your Chevy Express.
Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time these limits do not exceed the liability coverage limits.
Collision – This coverage pays for damage to your Express caused by collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things such as hitting a parking meter, hitting a mailbox and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.
Comprehensive coverage – This coverage pays for damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things like vandalism, fire damage and hitting a deer. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Liability – Liability insurance protects you from injuries or damage you cause to other people or property. It protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 50/100/50 which means a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit which provides one coverage limit without having the split limit caps.
Liability coverage protects against things like repair costs for stationary objects, emergency aid and loss of income. How much liability coverage do you need? That is up to you, but consider buying higher limits if possible.
Budget-friendly car insurance is definitely available from both online companies in addition to local insurance agencies, so get free insurance coverage quotes from both of them to have the best chance of lowering rates. Some companies do not offer internet price quotes and most of the time these small insurance companies provide coverage only through independent agents.
As you prepare to switch companies, never sacrifice coverage to reduce premiums. In too many instances, an accident victim reduced liability coverage limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. The goal is to buy the best coverage you can find for the lowest cost, but do not skimp to save money.
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