No one looks forward to buying car insurance, especially knowing the cost is way too high.
Companies like Allstate and Progressive promote their brand names with advertising and it is difficult to see through the deception and take the time to shop coverage around.
It’s a good habit to take a look at other company’s rates every six months since insurance rates change regularly. Even if you think you had the lowest price for Malibu Classic insurance on your last policy the chances are good that you can find a lower rate today. Forget all the misinformation about car insurance because I’m going to let you in on the secrets to the best way to save money, get proper deductibles and limits, all at the lowest rate.
Insurance can cost an arm and a leg, but there are discounts available to help offset the cost. Certain discounts will be applied when you complete an application, but some may not be applied and must be specially asked for prior to receiving the credit.
It’s important to understand that most credits do not apply the the whole policy. The majority will only reduce the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears having all the discounts means you get insurance for free, auto insurance companies aren’t that generous. But all discounts will help reduce your premiums.
To see a list of insurers offering auto insurance discounts, click this link.
When buying proper insurance coverage for your personal vehicles, there is no single plan that fits everyone. Coverage needs to be tailored to your specific needs and your policy should reflect that. For example, these questions may help highlight if your situation might need professional guidance.
If it’s difficult to answer those questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area.
Insurance providers like Allstate, Geico and Progressive consistently run ads in print and on television. They all say the same thing that you can save if you change your policy. How do they all say the same thing?
Insurance companies can use profiling for the type of driver they prefer to insure. For instance, a preferred risk might be profiled as between the ages of 30 and 50, is a homeowner, and has great credit. A customer that hits that “sweet spot” gets the lowest rates and therefore will save when switching.
Consumers who are not a match for the requirements must pay more money which usually ends up with business not being written. The ad wording is “customers that switch” not “everyone that quotes” save that much. That is how companies can advertise the savings.
This illustrates why you absolutely need to get a wide range of price quotes. Because you never know which insurance companies will give you the biggest savings on Chevy Malibu Classic insurance.
Understanding the coverages of car insurance helps when choosing the best coverages at the best deductibles and correct limits. Car insurance terms can be difficult to understand and nobody wants to actually read their policy. Shown next are the normal coverages found on the average car insurance policy.
Comprehensive auto coverage
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for claims like hitting a deer, hail damage, damage from a tornado or hurricane, falling objects and fire damage. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your 2008 Chevy Malibu Classic.
Since a lot of drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. 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.
Liability insurance
Liability insurance will cover injuries or damage you cause to other’s property or people that is your fault. This insurance protects YOU from claims by other people. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/25 which stand for $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Another option is one number which is a combined single limit which combines the three limits into one amount rather than limiting it on a per person basis.
Liability coverage protects against claims such as attorney fees, legal defense fees, structural damage, pain and suffering and repair costs for stationary objects. How much coverage you buy is a decision to put some thought into, but consider buying as much as you can afford.
Collision protection
This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims like sideswiping another vehicle, rolling your car, colliding with a tree, scraping a guard rail and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from lower value vehicles. You can also increase the deductible to bring the cost down.
Medical payments and PIP coverage
Med pay and PIP coverage kick in for expenses for things like doctor visits, pain medications, surgery and rehabilitation expenses. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage
As you shop your coverage around, do not skimp on critical coverages to save a buck or two. In many cases, an insured cut uninsured motorist or liability limits and found out when filing a claim that the few dollars in savings costed them thousands. Your strategy should be to buy enough coverage at the best price, not the least amount of coverage.
We just covered a lot of techniques to save on 2008 Chevy Malibu Classic insurance. The key thing to remember is the more rate comparisons you have, the better your comparison will be. You may even find the most savings is with a lesser-known regional company. These smaller insurers may often insure only within specific states and give getter rates as compared to the big name companies such as Allstate or State Farm.