Feel like you’re a prisoner to an underperforming, overpriced auto insurance policy? Believe me when I say there are many consumers feeling the pinch from expensive auto insurance. Lots of insurance companies contend for your insurance dollar, and it can be difficult to compare rates to discover the definitive lowest rate
If you have insurance now or are just looking to switch companies, you will benefit by learning to find better prices while maximizing coverage. Finding affordable coverage is not that difficult. Vehicle owners just need to know how to get comparison quotes online.
The method we recommend to get rate comparisons is to take advantage of the fact auto insurance companies participate in online systems to compare rate quotes. To begin a comparison, all you need to do is provide the companies a bit of rating information like driver ages, how much coverage you want, if it has an alarm system, and marital status. Your rating data is then submitted to all major companies and they provide comparison quotes instantly.
Companies that sell car insurance don’t always list all their discounts very well, so the following is a list of both well-publicized and the harder-to-find savings tricks you should be using. If you don’t get every credit you deserve, you are paying more than you should be.
Drivers should understand that most discount credits are not given to the overall cost of the policy. Most only reduce specific coverage prices like comprehensive or collision. Just because you may think all those discounts means the company will pay you, companies don’t profit that way.
For a list of insurance companies offering insurance coverage discounts, click here to view.
When choosing adequate coverage for your personal vehicles, there is no one size fits all plan. Each situation is unique and a cookie cutter policy won’t apply. For example, these questions might help in determining whether or not you may require specific advice.
If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and you can get the answers you need.
Knowing the specifics of your insurance policy can be of help when determining the right coverages for your vehicles. Insurance terms can be difficult to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on the average insurance policy.
Comprehensive insurance
This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things such as hitting a deer, falling objects and fire damage. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Auto liability insurance
Liability coverage provides protection from damage that occurs to a person or their property in an accident. This insurance protects YOU from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.
Liability can pay for things like attorney fees, funeral expenses and medical services. How much coverage you buy is up to you, but you should buy as high a limit as you can afford.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage provides protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries to you and your family as well as damage to your Ford Econoline Wagon.
Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP kick in for bills like ambulance fees, surgery and hospital visits. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
Collision insurance
This pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against things such as hitting a mailbox, backing into a parked car, rolling your car, sideswiping another vehicle and hitting a parking meter. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Drivers also have the option to bump up the deductible to get cheaper collision coverage.