2002 Mitsubishi Lancer Insurance Cost – 5 Savings Tips

Searching for lower car insurance rates? Consumers have options when looking for the best price on Mitsubishi Lancer insurance. You can either waste hours calling around trying to get quotes or leverage the internet to get rate quotes. There are more efficient ways to find car insurance online so you’re going to learn the proper way to compare rates for a Mitsubishi and get the cheapest rates from both online companies and local agents.

Finding Insurance Deals

All the larger insurance companies give prices for coverage online. Getting online quotes is pretty easy as you simply enter your required coverages into a form. Once entered, the system makes automated requests for your driving and credit reports and generates a price based on these and other factors.

Quoting online makes it a lot easier to compare rates but the process of having to visit multiple sites and complete many quote forms gets old quite quickly. But it is imperative to compare as many rates as possible in order to find better prices.

The easiest way to find cheaper rates utilizes a single form that gets price quotes from several companies at one time. This type of form saves time, reduces the work, and makes online quotes much more enjoyable and efficient. After your information is entered, it is quoted and you can select any one of the quotes returned. If the quotes result in lower rates, you can simply submit the application and purchase the new policy. This process takes 15 minutes at the most and may save quite a bit of money.

If you want to find out what other companies charge, click here to open in new window and input your coverage information. If you have coverage now, it’s recommended you complete the form with your coverages exactly as they are listed on your policy. Using the same limits helps guarantee you will receive rate quotes for exact coverage.

Don’t pay full price with these five discounts

Companies that sell car insurance don’t list every discount very well, so here is a list some of the best known and the more hidden savings tricks you should be using. If you don’t get every credit available, you are throwing money away.

  • Senior Discount – Older drivers may receive a discount up to 10% for Lancer insurance.
  • Accident Forgiveness – A handful of insurance companies will forgive one accident without raising rates so long as you haven’t had any claims prior to the accident.
  • Defensive Driving Course – Successfully completing a defensive driving course could save 5% or more depending on where you live.
  • Multiple Vehicles – Buying coverage for multiple vehicles on one policy can get a discount on all vehicles.
  • Discount for Good Grades – Performing well in school can be rewarded with saving of up to 25%. This discount can apply well after school through age 25.

A little note about advertised discounts, some of the credits will not apply to all coverage premiums. A few only apply to the cost of specific coverages such as comp or med pay. Just because it seems like it’s possible to get free car insurance, it doesn’t quite work that way.

Car insurance companies that may have these money-saving discounts include:

It’s a good idea to ask each insurance company what discounts are available to you. Savings may not be available in your state.

Your personal situation dictates your coverage

When buying the best insurance coverage coverage, there is no one size fits all plan. Your needs are not the same as everyone else’s.

Here are some questions about coverages that may help highlight whether your personal situation could use an agent’s help.

  • Is my custom paint covered by insurance?
  • Is my business laptop covered if it gets stolen from my vehicle?
  • Can I get a multi-policy discount?
  • Should I have combined single limit or split liability limits?
  • I don’t drive much so do I pay less?
  • Is my trailer covered?

If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with an agent. To find lower rates from a local agent, complete this form. It is quick, free and you can get the answers you need.

Auto insurance ads bend the truth

Consumers can’t ignore all the ads that promise big savings from the likes of State Farm, Allstate and Geico. They all seem to make an identical promise that you can save if you switch your coverage to them.

How can each company make almost identical claims?

All companies have a preferred profile for the type of driver that makes them money. A good example of a profitable customer might be over the age of 50, has no prior claims, and chooses high deductibles. Any driver that hits that “sweet spot” is entitled to the best price and most likely will save when switching.

Potential customers who don’t meet the “perfect” profile will have to pay a higher premium which usually ends up with the driver buying from a lower-cost company. Company advertisements say “people who switch” not “people who quote” save that much money. This is how insurance companies can make those claims. Because of the profiling, drivers must get as many quotes as possible. It is impossible to predict which auto insurance company will fit your personal profile best.

Auto insurance coverage information

Learning about specific coverages of your policy aids in choosing the right coverages at the best deductibles and correct limits. Insurance terms can be impossible to understand and nobody wants to actually read their policy.

Uninsured or underinsured coverage

Your UM/UIM coverage provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants and also any damage incurred to your Mitsubishi Lancer.

Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Medical expense coverage

Med pay and PIP coverage kick in for bills like prosthetic devices, funeral costs, surgery and X-ray expenses. They are used in conjunction with a health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants in addition to if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage

Comprehensive protection

This pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as theft, a tree branch falling on your vehicle, damage from a tornado or hurricane, vandalism and falling objects. The maximum payout a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Liability auto insurance

This coverage provides protection from injuries or damage you cause to a person or their property in an accident. It protects YOU from claims by other people, and does not provide coverage for 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 values of 50/100/50 which means a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.

Liability coverage pays for claims such as structural damage, repair bills for other people’s vehicles, emergency aid, funeral expenses and pain and suffering. How much liability coverage do you need? That is a personal decision, but consider buying higher limits if possible.

Collision protection

This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage protects against claims like rolling your car, driving through your garage door and damaging your car on a curb. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to choose a higher deductible in order to get cheaper collision rates.

The best insurance company isn’t always the cheapest

We just presented a lot of information how to lower your 2002 Mitsubishi Lancer insurance rates. The key thing to remember is the more rate quotes you have, the better likelihood of reducing your rate. Drivers may discover the lowest premiums are with the smaller companies.

Cost effective insurance is definitely available online and with local insurance agents, and you should be comparing both so you have a total pricing picture. A few companies do not offer the ability to get a quote online and most of the time these regional insurance providers sell through independent agents.

Drivers leave their current company for a number of reasons such as unfair underwriting practices, extreme rates for teen drivers, questionable increases in premium or delays in paying claims. It doesn’t matter what your reason, switching companies can be easier than you think.

Additional insurance coverage information can be found at the links below