I can’t think of a single person who looks forward to buying insurance coverage, in particular when the cost is too high. Since consumers have many companies and agents to choose from, it’s nearly impossible to locate the right car insurance company.
Smart consumers have a good feel for the rating factors that play a part in calculating the rates you pay for car insurance. Having a good understanding of what influences your rates helps enable you to make changes that can help you get big savings.
Shown below are a partial list of the pieces that factor into your rates.
Companies offering auto insurance don’t always publicize all available discounts very well, so we break down both well-publicized and also the lesser-known auto insurance savings. If you don’t get every credit available, you’re paying more than you need to.
Drivers should understand that some credits don’t apply the the whole policy. Most only apply to the price of certain insurance coverages like liability and collision coverage. So even though it sounds like having all the discounts means you get insurance for free, you’re out of luck.
Companies that may have some of the above discounts may include but are not limited to:
Check with each insurance company which discounts you may be entitled to. Savings may not be available in every state.
When buying coverage, there is no single plan that fits everyone. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions may help you determine if your insurance needs would benefit from an agent’s advice.
If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier It only takes a few minutes and you can get the answers you need.
Knowing the specifics of a insurance policy can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Below you’ll find typical coverages offered by insurance companies.
Comprehensive (Other than Collision) – Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things like a broken windshield, rock chips in glass, damage from getting keyed, hitting a deer and hail damage. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Collision coverages – Collision coverage covers damage to your Liberty from colliding with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things such as scraping a guard rail, damaging your car on a curb, rolling your car and driving through your garage door. This coverage can be expensive, so you might think about dropping it from lower value vehicles. Another option is to bump up the deductible to get cheaper collision coverage.
Protection from uninsured/underinsured drivers – This coverage protects you and your vehicle when other motorists either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.
Since many drivers have only the minimum liability required by law, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.
Medical expense insurance – Med pay and PIP coverage kick in for expenses for hospital visits, funeral costs and dental work. They are often used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Coverage applies to you and your occupants and also covers if you are hit as a while walking down the street. PIP coverage is not an option in every state and gives slightly broader coverage than med pay
Liability coverages – Liability coverage can cover damage that occurs to other’s property or people by causing an accident. It protects you from legal claims by others, and doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/25 which means $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.
Liability coverage pays for things like bail bonds, funeral expenses, court costs and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.
We covered a lot of tips how to shop for 2005 Jeep Liberty insurance online. The key concept to understand is the more rate comparisons you have, the higher the chance of saving money. You may even find the best prices are with a small mutual company. Some small companies often have lower prices on specific markets compared to the large companies like Allstate or State Farm.
When buying insurance coverage, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many instances, an insured dropped full coverage and learned later that it was a big mistake. The aim is to buy enough coverage for the lowest price while still protecting your assets.
More detailed car insurance information is available at these sites: