2003 Mitsubishi Lancer Car Insurance Cost

Are you tired of scraping the payment together each month for car insurance? You are in the same boat as many other consumers. Multiple auto insurance companies compete for your business, and it can be difficult to compare rates to get the cheapest price

It’s smart to do rate comparisons quite often since insurance rates go up and down regularly. Just because you found the best price for Lancer coverage a couple years back you can probably find a better price now. There is a lot of bad advice regarding insurance on the web, but I’m going to show you some great ideas on how to slash your insurance rates.

If you have a current insurance policy or need new coverage, you can use these tips to find the best rates while maximizing coverage. Choosing the best insurance company for you is easy if you know what you’re doing. Vehicle owners just need to know the tricks to compare rates online.

The most recommended method to compare policy rates is to know all the major auto insurance companies have advanced systems to give rate comparisons. All you need to do is provide details like if your license is active, whether you drive to work or school, if you require a SR-22, and coverage limits. Your rating data is instantly sent to all major companies and you should receive rate quotes instantly.

To start a quote now, click here and enter the information requested.

Pieces of the Mitsubishi Lancer insurance rate puzzle

It’s important that you understand the factors that go into determining auto insurance rates. Understanding what determines base rates enables informed choices that can help you get big savings.

  • More people means more accidents – Living in a small town is a positive aspect when it comes to auto insurance. Lower population means a lower chance of having an accident and a lower car theft rate. Urban drivers have to deal with more traffic problems and longer commutes to work. More time on the road means higher likelihood of an accident.
  • Low deductibles can be expensive – Your deductibles represent how much money you are required to spend out-of-pocket before your auto insurance pays a claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of covered claims are colliding with a building, vandalism, and rolling your vehicle. The more expense you’re willing to pay, the less your auto insurance will be for Lancer coverage.
  • Better credit means lower rates – A driver’s credit rating is a large factor in determining your rates. People with high credit scores tend to be more responsible than drivers who have lower ratings. Therefore, if your credit score can use some improvement, you could be paying less to insure your 2003 Mitsubishi Lancer by spending a little time repairing your credit.
  • Your occupation can affect rates – Did you know that where you work can have an impact on rates? Jobs such as lawyers, architects and financial analysts tend to pay higher average rates because of job stress and lots of time spent at work. Conversely, occupations such as scientists, engineers and performers have the lowest average rates for Lancer coverage.
  • More claims means more premium – Car insurance companies generally give lower rates to policyholders who file claims infrequently. If you tend to file frequent claims, you can pretty much guarantee either higher rates or even cancellation. Insurance coverage is designed for the bigger claims that can’t be paid out-of-pocket.

Don’t pay full price with these discounts

The cost of insuring your cars can be expensive, buy you may qualify for discounts to help offset the cost. Certain discounts will be triggered automatically at the time of purchase, but some may not be applied and must be inquired about before being credited. If you’re not getting every credit available, you’re just leaving money on the table.

  • Life Insurance – Select insurance companies reward you with better rates if you take out a life insurance policy as well.
  • Passive Restraint Discount – Cars that have air bags can qualify for discounts of up to 25% or more.
  • Distant Student – Any of your kids who are attending college and do not have a car may be able to be covered for less.
  • Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you could save up to 5%.
  • Early Switch Discount – Some insurance companies reward drivers for signing up before your current policy expires. It’s a savings of about 10%.
  • Fewer Miles Equal More Savings – Fewer annual miles on your Mitsubishi can qualify you for better rates on cars that stay parked.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% on the medical payments or PIP coverage costs.
  • Lower Rates for Military – Having a deployed family member can result in better rates.

Drivers should understand that some credits don’t apply the the whole policy. A few only apply to the cost of specific coverages such as collision or personal injury protection. Just because you may think having all the discounts means you get insurance for free, you won’t be that lucky. Any qualifying discounts will reduce the amount you have to pay.

Insurance companies that possibly offer these benefits include:

Double check with all companies you are considering what discounts are available to you. All car insurance discounts might not be offered in your state.

Your personal situation dictates your coverage

When choosing the best insurance coverage, there really is no perfect coverage plan. Everyone’s needs are different so this has to be addressed. For instance, these questions can aid in determining if your situation might need an agent’s assistance.

  • Which companies will insure high-risk drivers?
  • Does my liability insurance cover pulling a trailer or camper?
  • Is motorclub coverage worth it?
  • Are my friends covered when driving my 2003 Mitsubishi Lancer?
  • Do I have any recourse if my insurance company denies a claim?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Do I need medical payments coverage since I have good health insurance?

If you don’t know the answers to these questions but a few of them apply then you might want to talk to an insurance agent. If you want to speak to an agent in your area, simply complete this short form or go to this page to view a list of companies. It only takes a few minutes and can help protect your family.

Car insurance coverage breakdown

Understanding the coverages of your policy aids in choosing the right coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. These are the normal coverages available from car insurance companies.

Liability coverages

Liability coverage will cover damage or injury you incur to a person or their property. It protects you from claims by other people. It does not 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. You commonly see policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability coverage pays for claims like medical expenses, medical services, loss of income and emergency aid. The amount of liability coverage you purchase is a personal decision, but consider buying as much as you can afford.

Uninsured or underinsured coverage

This coverage protects you and your vehicle 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 Mitsubishi Lancer.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked. Normally your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like falling objects, vandalism, a broken windshield and hail damage. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses such as doctor visits, surgery, chiropractic care and X-ray expenses. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not available in all states and may carry a deductible

Auto collision coverage

Collision coverage covers damage to your Lancer resulting from a collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like hitting a mailbox, damaging your car on a curb and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. It’s also possible to choose a higher deductible to save money on collision insurance.

Have money to burn

Cheap 2003 Mitsubishi Lancer insurance is attainable online in addition to many insurance agents, so compare prices from both to have the best chance of lowering rates. Some companies do not provide online quoting and these smaller companies work with independent agents.

While you’re price shopping online, don’t be tempted to sacrifice coverage to reduce premiums. Too many times, drivers have reduced physical damage coverage to discover at claim time that the savings was not a smart move. Your strategy should be to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.

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