Think you have overpriced auto insurance? Trust us, many consumers are feeling buyer’s remorse and feel like there’s no way out. Many insurance companies compete for your business, so it’s not easy to compare every company and get the best coverage at the lowest price
Performing a rate comparison can be a lot of work if you aren’t aware of the most efficient way. You can spend your afternoon talking to insurance companies in your area, or you can utilize online quoting to get rates in a matter of minutes.
Many insurance companies belong to an insurance system that allows shoppers to submit their information once, and every company returns a competitive quote based on the submitted data. This system prevents you from having to do quotation requests for each company. To access this free quoting program, click to open in new window.
The one disadvantage to getting quotes like this is buyers cannot specifically choose which providers to get quotes from. So if you want to select specific providers to request quotes from, we have assembled a list of low cost insurance coverage companies in your area. View list of insurance companies.
It doesn’t matter which method you choose, just make darn sure you compare equivalent quote information on every price quote you get. If your comparisons have different values for each quote it will be nearly impossible to determine the lowest rate for your Ford Edge.
Consumers get pounded daily by advertisements for car insurance savings by Progressive, GEICO, Allstate and State Farm. They all make the point that drivers can save some big amount if you just switch to them.
How do they all lower your prices? You have to listen carefully.
Many companies can use profiling for the type of insured that makes them money. For instance, this type of driver might have to be married and over the age of 30, has no claims, and drives newer vehicles. Any new insured who fits that profile will get very good prices and will also save if they switch.
Potential insureds who are not a match for these criteria will have to pay higher prices which leads to the customer not buying. If you listen closely, the ads state “customers who switch” but not “all drivers who get quotes” will save that much if they switch. That’s why companies can make the claims of big savings.
Because of these techniques, it’s extremely important to get a wide range of price quotes. It is impossible to predict with any certainty which company will fit you best based on your risk profile.
Lots of factors are used when you quote your car insurance policy. Some are pretty understandable like an MVR report, but some are not as apparent 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 prices.
Properly insuring your vehicles can get expensive, but you might find some hidden discounts that can drop the cost substantially. A few discounts will automatically apply when you get a quote, but occassionally some discounts must be requested specifically before you get the savings.
Don’t be surprised that some of the credits will not apply to the overall cost of the policy. Most only apply to specific coverage prices like comprehensive or collision. If you do the math and it seems like all the discounts add up to a free policy, companies wouldn’t make money that way. But any discount should help reduce the amount you pay for coverage.
Popular auto insurance companies and a selection of discounts can be read below.
When comparing rates, check with every prospective company which discounts can lower your rates. Some of the discounts discussed earlier might not be available to policyholders in your state.
When choosing adequate coverage, there is no one size fits all plan. Everyone’s situation is a little different and your policy should reflect that. Here are some questions about coverages that can help discover whether your personal situation might need an agent’s assistance.
If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to an agent. To find an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area. It is quick, free and can provide invaluable advice.
Knowing the specifics of a insurance policy can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be ambiguous and coverage can change by endorsement. Listed below are the usual coverages found on the average insurance policy.
Comprehensive insurance – Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like fire damage, a tree branch falling on your vehicle, falling objects and vandalism. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Liability – Liability insurance can cover damages or injuries you inflict on people or other property by causing an accident. It protects YOU against other people’s claims, and doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Another option is one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers things like emergency aid, court costs and repair costs for stationary objects. The amount of liability coverage you purchase is up to you, but buy as much as you can afford.
Coverage for medical expenses – Med pay and PIP coverage pay for immediate expenses such as nursing services, prosthetic devices, doctor visits and X-ray expenses. They are utilized in addition to your health insurance plan or if you are not covered by health insurance. It covers you and your occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Collision coverages – Collision insurance pays for damage to your Edge resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims such as sustaining damage from a pot hole, driving through your garage door, rolling your car, hitting a mailbox and backing into a parked car. Paying for collision coverage can be pricey, so consider removing coverage from lower value vehicles. It’s also possible to increase the deductible to save money on collision insurance.
Coverage for uninsured or underinsured drivers – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. It can pay for injuries to you and your family as well as damage to your Ford Edge.
Since a lot of drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family. Most of the time these coverages are identical to your policy’s liability coverage.
When buying insurance coverage, make sure you don’t sacrifice coverage to reduce premiums. In many instances, an insured cut liability limits or collision coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your strategy should be to purchase a proper amount of coverage at the best price but still have enough coverage for asset protection.
Cheaper auto insurance can be sourced both online and also from your neighborhood agents, and you should compare rates from both in order to have the best price selection to choose from. Some auto insurance companies may not have online rate quotes and most of the time these small insurance companies sell through independent agents.
To read more, feel free to visit the articles below: