Are you tired of robbing Peter to pay Paul to pay your car insurance bill each month? You are in the same boat as the majority of other car owners.
Multiple car insurance companies compete for your hard-earned dollar, so it’s not easy to compare every provider to get the best rates possible.
Companies don’t always publicize every discount in a way that’s easy to find, so we break down some of the best known and the harder-to-find ways to save on insurance.
Keep in mind that most discounts do not apply to the overall cost of the policy. Most cut the cost of specific coverages such as physical damage coverage or medical payments. So when the math indicates all those discounts means the company will pay you, it doesn’t quite work that way.
For a list of companies with the best insurance discounts, click here.
An important part of buying insurance is that you know the factors that go into determining car insurance rates. Understanding what impacts premium levels helps enable you to make changes that could result in big savings.
Listed below are a few of the “ingredients” that factor into premiums.
When buying the right insurance coverage for your vehicles, there really is not a one size fits all plan. Coverage needs to be tailored to your specific needs so your insurance needs to address that. These are some specific questions might point out whether or not you would benefit from an agent’s advice.
If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance companies in your area.
Learning about specific coverages of insurance helps when choosing appropriate coverage and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement. These are the usual coverages offered by insurance companies.
Liability coverages
Liability insurance will cover damages or injuries you inflict on people or other property in an accident. This coverage protects you from claims by other people. It does not cover your own vehicle damage or injuries.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 100/300/100 which means $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000.
Liability can pay for things such as legal defense fees, repair bills for other people’s vehicles, emergency aid, bail bonds and loss of income. How much liability should you purchase? That is a personal decision, but consider buying as much as you can afford.
Comprehensive auto coverage
Comprehensive insurance covers damage from a wide range of events other than collision. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as hitting a deer, rock chips in glass and damage from flooding. The maximum amount your insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Collision protection
This will pay to fix damage to your Land Cruiser from colliding with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision insurance covers claims such as backing into a parked car, colliding with a tree and rolling your car. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. You can also increase the deductible to bring the cost down.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered losses include hospital bills for your injuries as well as damage to your Toyota Land Cruiser.
Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP provide coverage for immediate expenses such as chiropractic care, doctor visits, EMT expenses, ambulance fees and hospital visits. They can be used in conjunction with a health insurance policy or if you are not covered by health insurance. It covers you and your occupants in addition to getting struck while a pedestrian. PIP is not universally available and may carry a deductible
Cost effective 1993 Toyota Land Cruiser insurance is attainable on the web and with local insurance agents, so you should compare both in order to have the best chance of saving money. There are still a few companies who do not offer online price quotes and most of the time these smaller companies sell through independent agents.
You just read a lot of ways to save on insurance. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding lower rates. You may even find the best prices are with some of the lesser-known companies. Regional companies may only write in your state and offer lower rates than the large multi-state companies such as Geico and State Farm.
Additional insurance coverage information is available on the following sites: