Buying affordable insurance coverage on the internet is problematic for consumers new to buying insurance online. With a ridiculous number of online companies available, how can you have a chance to compare every company to locate the best available price?
It’s important to shop coverage around before your policy renews because insurance rates go up and down regularly. Despite the fact that you may have had the best rates for Silverado coverage on your last policy other companies may now be cheaper. Starting right now, forget all the misinformation about insurance coverage because you’re going to learn the things you must know in order to remove unneeded coverages and save money.
Finding affordable coverage is not rocket science. In a nutshell, anyone who is required by state law to have auto insurance most likely will be able to cut their insurance bill. Although vehicle owners do need to learn the methods companies use to price insurance differently.
Effectively comparing auto insurance prices is a ton of work if you don’t understand the best way to get rate quotes. You could waste time driving to insurance agencies in your area, or you can utilize online quoting to get rate comparisons in just a few minutes.
Many insurance companies participate in an industry program where prospective buyers enter their coverage request one time, and every company returns a competitive quote based on that information. This saves time by eliminating form submissions for each company.
To fill out one form to compare multiple rates now click here (opens in new window).
The only downside to getting quotes like this is that you can’t choose the providers you want pricing from. So if you prefer to choose specific providers to compare prices, we put together a list of auto insurance companies in your area. Click to view list.
It’s up to you which method you use, but ensure you are comparing exactly the same quote information with every price quote. If you enter unequal deductibles or liability limits then you won’t be able to decipher which rate is best. Slightly different insurance coverages may result in large price differences. And when price shopping your coverage, more quotes gives you a better chance of getting the best offered rates.
Companies don’t always advertise every available discount very well, so the following is a list of both well-publicized and the more hidden savings tricks you should be using.
It’s important to note that many deductions do not apply to all coverage premiums. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. So even though they make it sound like adding up those discounts means a free policy, insurance companies aren’t that generous.
A partial list of companies that may have these discounts include:
Before buying, ask each insurance company which discounts they offer. Discounts may not apply in your area.
When buying proper insurance coverage for your vehicles, there really is not a cookie cutter policy. Everyone’s situation is a little different.
These are some specific questions may help highlight whether your personal situation might need professional guidance.
If you can’t answer these questions, you may need to chat with a licensed agent. If you don’t have a local agent, complete this form.
Understanding the coverages of your policy can be of help when determining the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy.
Collision coverage – This coverage pays for damage to your Silverado 2500 caused by collision with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like colliding with another moving vehicle, sideswiping another vehicle and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. It’s also possible to bump up the deductible in order to get cheaper collision rates.
Medical payments coverage and PIP – Coverage for medical payments and/or PIP kick in for expenses such as EMT expenses, hospital visits, doctor visits, chiropractic care and rehabilitation expenses. They are used to fill the gap from your health insurance program or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as damage to your Chevy Silverado 2500.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family.
Liability – This coverage can cover damage that occurs to a person or their property by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see values of 100/300/100 which means $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.
Liability coverage pays for things like repair costs for stationary objects, emergency aid, medical expenses, loss of income and legal defense fees. How much coverage you buy is up to you, but consider buying as much as you can afford.
Comprehensive coverage – This will pay to fix damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like hitting a bird, a tree branch falling on your vehicle, falling objects, vandalism and damage from getting keyed. 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 probably time to drop comprehensive insurance.