Feel like you’re a prisoner to an overpriced auto insurance policy? Believe me when I say you’re not the only one.
Many car insurance companies vie for your hard-earned dollar, and because of this it can be hard to compare insurance companies to find the absolute lowest cost out there.
Smart consumers have a good feel for the factors that come into play when calculating the price you pay for auto insurance. Understanding what impacts premium levels allows you to make educated decisions that can help you get big savings.
The list below includes a partial list of the pieces companies use to determine your rates.
Car insurance companies don’t always publicize every available discount very clearly, so the following is a list of some of the best known as well as the least known savings tricks you should be using.
Keep in mind that most discount credits are not given the the whole policy. Most only reduce specific coverage prices like liability, collision or medical payments. Just because you may think you can get free auto insurance, insurance coverage companies aren’t that generous.
To see a list of insurers with the best insurance coverage discounts, follow this link.
When buying the best insurance coverage, there really is no “perfect” insurance plan. Each situation is unique and your policy should reflect that. Here are some questions about coverages that might help in determining whether you will benefit from professional help.
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.
Knowing the specifics of car insurance can help you determine appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find typical coverages offered by car insurance companies.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance reimburse you for expenses for nursing services, funeral costs, doctor visits and ambulance fees. They can be used to fill the gap from your health insurance program or if there is no health insurance coverage. Coverage applies to both the driver and occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state and may carry a deductible
UM/UIM (Uninsured/Underinsured Motorist) coverage
This gives you protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked.
Collision coverage protection
Collision coverage covers damage to your Grand Marquis resulting from colliding with an object or car. A deductible applies then your collision coverage will kick in.
Collision coverage protects against things such as crashing into a ditch, colliding with a tree, scraping a guard rail and crashing into a building. This coverage can be expensive, so consider dropping it from older vehicles. Drivers also have the option to increase the deductible to bring the cost down.
Liability auto insurance
This coverage can cover damage that occurs to other’s property or people that is your fault. This insurance protects YOU against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 100/300/100 which stand for a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery.
Liability coverage protects against things like court costs, repair costs for stationary objects, funeral expenses, attorney fees and medical expenses. How much coverage you buy is your choice, but it’s cheap coverage so purchase as large an amount as possible.
Comprehensive auto coverage
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like rock chips in glass, damage from a tornado or hurricane and a tree branch falling on your vehicle. The most your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
When buying insurance coverage, it’s very important that you do not reduce coverage to reduce premium. There are many occasions where an insured cut liability coverage limits only to find out that the savings was not a smart move. The ultimate goal is to buy a smart amount of coverage for the lowest price while not skimping on critical coverages.
Throughout this article, we presented some good ideas how you can reduce 2009 Mercury Grand Marquis insurance prices online. The key thing to remember is the more companies you get rates for, the higher the chance of saving money. You may be surprised to find that the most savings is with an unexpected company. These companies may only write in your state and offer lower rates as compared to the big name companies such as State Farm and Allstate.
More detailed auto insurance information is available in the articles below: