Are you a victim of an underperforming, overpriced insurance coverage policy? Trust us, you’re not the only one.
There is such a variety of insurers to choose from, and although it’s nice to be able to choose, it can be more challenging to compare rates and find the lowest cost insurance coverage.
Companies offering auto insurance don’t list all their discounts very clearly, so we took the time to find some of the best known and the harder-to-find discounts you could be receiving.
As a disclaimer on discounts, many deductions do not apply to all coverage premiums. A few only apply to the cost of specific coverages such as medical payments or collision. So despite the fact that it appears having all the discounts means you get insurance for free, it just doesn’t work that way.
Insurance companies who might offer some of the above discounts include:
Check with each insurance company what discounts are available to you. Savings might not apply in every state.
When it comes to buying adequate coverage, there isn’t really a one size fits all plan. Every insured’s situation is different and your policy should reflect that. For instance, these questions may help you determine whether or not you would benefit from an agent’s advice.
If you’re not sure about those questions, you may need to chat with an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies.
Auto insurance providers like Progressive, Geico, Allstate and State Farm continually stream ads on TV and radio. They all make the same claim of big savings after switching your policy. How does each company claim to save you money? It’s all in the numbers.
Insurance companies can use profiling for the type of customer that makes them money. For instance, a driver they prefer might be profiled as over the age of 40, a clean driving record, and has excellent credit. Any driver who matches those parameters is entitled to the best price and is almost guaranteed to cut their rates substantially.
Consumers who fall outside this ideal profile will have to pay higher prices and this can result in business going elsewhere. The ads state “people who switch” not “everybody who quotes” save money. That is how companies can make the claims of big savings. Because of the profiling, you absolutely need to get quotes from several different companies. It’s impossible to know which company will fit your personal profile best.
Learning about specific coverages of insurance aids in choosing which coverages you need for your vehicles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Shown next are the usual coverages found on the average insurance policy.
Protection from uninsured/underinsured drivers
Your UM/UIM coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your 2009 Mitsubishi Eclipse.
Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.
Liability coverages
Liability coverage can cover injuries or damage you cause to other’s property or people in an accident. This coverage protects you against other people’s claims. Liability doesn’t cover your own vehicle damage or injuries.
It consists of 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 25/50/25 which stand for a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.
Liability can pay for claims such as court costs, repair costs for stationary objects, loss of income, bail bonds and pain and suffering. How much liability should you purchase? That is a personal decision, but consider buying as large an amount as possible.
Comprehensive (Other than Collision)
Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims such as damage from flooding, a broken windshield and rock chips in glass. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Collision coverage protection
Collision insurance 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 then your collision coverage will kick in.
Collision insurance covers claims like damaging your car on a curb, backing into a parked car and colliding with another moving vehicle. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. You can also bump up the deductible in order to get cheaper collision rates.
Medical expense insurance
Medical payments and Personal Injury Protection insurance provide coverage for bills for things like hospital visits, prosthetic devices and doctor visits. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover all vehicle occupants as well as any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay
Low-cost 2009 Mitsubishi Eclipse insurance is definitely available on the web as well as from independent agents, and you need to comparison shop both to have the best selection. Some insurance companies don’t offer the ability to get a quote online and these small, regional companies work with independent agents.
When you buy insurance online, do not sacrifice coverage to reduce premiums. There have been many situations where an accident victim reduced physical damage coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The aim is to purchase plenty of coverage for the lowest price while still protecting your assets.
Much more information about car insurance can be found below: