Are you sick and tired of trying to scrape together enough money to pay your car insurance bill each month? You’re in the same situation as many other drivers.
Companies like State Farm, Farmers Insurance, Geico and Allstate all claim big savings, bombarding you with TV and radio ads and it can be hard to see past the corporate glitz and effectively compare rates to find the best deal.
It’s smart to take a look at other company’s rates on a regular basis because prices change frequently. Despite the fact that you may have had the best price on Prelude insurance two years ago other companies may now be cheaper. So just forget anything you know (or think you know) about auto insurance because you’re going to get a crash course in one of the easiest ways to properly buy coverages and cut your premium.
The price of auto insurance can be rather high, but companies offer discounts that many people don’t even know exist. A few discounts will automatically apply when you complete an application, but a few must be asked for before being credited.
Consumers should know that most of the big mark downs will not be given to the entire policy premium. Some only reduce specific coverage prices like physical damage coverage or medical payments. Even though it may seem like all the discounts add up to a free policy, you’re out of luck. Any qualifying discounts will reduce the amount you have to pay.
Companies that possibly offer these money-saving discounts are:
Before buying, ask each company which discounts they offer. Savings might not apply everywhere.
Insurance providers like Progressive, Geico, Allstate and State Farm regularly use ads on TV and radio. They all have a common claim about savings if you move your coverage to them. But how can every company claim to save you money? This is how they do it.
All the different companies have a preferred profile for the type of driver that is profitable for them. A good example of a driver they prefer could possibly be between the ages of 40 and 55, insures multiple vehicles, and has great credit. A customer getting a price quote who meets those qualifications gets the lowest rates and is almost guaranteed to save quite a bit of money when switching.
Drivers who don’t qualify for these standards will be quoted higher rates and ends up with the driver buying from a lower-cost company. The ad wording is “people who switch” not “everyone that quotes” save money. That’s the way companies can truthfully make those claims.
This emphasizes why you should quote coverage with many companies. It is impossible to predict which company will fit your personal profile best.
When choosing coverage, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that For instance, these questions might point out whether you might need professional guidance.
If you don’t know the answers to these questions but a few of them apply then you might want to talk 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.
Having a good grasp of your policy can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverage types found on the average auto insurance policy.
Collision protection
Collision coverage pays for damage to your Prelude resulting from a collision with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things like crashing into a building, crashing into a ditch, hitting a parking meter, colliding with another moving vehicle and colliding with a tree. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. Another option is to increase the deductible to get cheaper collision coverage.
Comprehensive coverages
Comprehensive insurance coverage will pay to fix 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 insurance covers things like fire damage, rock chips in glass, a broken windshield, theft and damage from a tornado or hurricane. The most you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance kick in for immediate expenses like ambulance fees, nursing services and X-ray expenses. They can be utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants as well as any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible
Uninsured and underinsured coverage
This coverage provides protection from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your 2001 Honda Prelude.
Because many people carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family. Normally these limits are set the same as your liablity limits.
Liability coverages
This protects you from damages or injuries you inflict on people or other property. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.
Liability coverage has 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 liability limits of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which limits claims to one amount with no separate limits for injury or property damage.
Liability insurance covers things such as repair costs for stationary objects, bail bonds and loss of income. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as high a limit as you can afford.
We covered many ideas to save on 2001 Honda Prelude insurance. The most important thing to understand is the more providers you compare, the better chance you’ll have of finding lower rates. You may be surprised to find that the lowest rates come from the smaller companies. They may often insure only within specific states and give getter rates compared to the large companies like Progressive or Geico.
When buying insurance coverage, never reduce coverage to reduce premium. Too many times, drivers have reduced liability limits or collision coverage and learned later that their decision to reduce coverage ended up costing them more. Your aim should be to buy enough coverage at a price you can afford.
More information is located on the following sites: