Did you fall for a flashy sales pitch and buy an overpriced car insurance policy? Trust us when we tell you there are lots of people in the same boat. Big-name insurance companies like State Farm, Allstate, Geico and Progressive continually hit you with TV and radio ads and it is challenging if not impossible to see past the geckos and flying pigs and take the time to shop coverage around.
If you are insured now or are looking for a new policy, you can use this information to cut your premiums while maximizing coverage. Choosing the best insurance company for you is not rocket science. Drivers just need to learn how to compare company rates over the internet.
Auto insurance companies don’t necessarily list all their discounts very clearly, so we researched both well-publicized and the more hidden savings tricks you should be using. If you’re not getting every credit possible, you’re paying more than you need to.
Drivers should understand that most of the big mark downs will not be given to the entire policy premium. Most only apply to individual premiums such as liability, collision or medical payments. So when it seems like having all the discounts means you get insurance for free, you won’t be that lucky.
A partial list of companies that may offer these discounts include:
Double check with every prospective company which discounts they offer. All car insurance discounts may not be available everywhere.
When buying proper insurance coverage for your vehicles, there isn’t really a perfect coverage plan. Every insured’s situation is different so this has to be addressed. These are some specific questions may help highlight whether or not you might need an agent’s assistance.
If you can’t answer these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, free and can help protect your family.
Consumers can’t get away from ads for the lowest price auto insurance from the likes of State Farm, Allstate and Geico. They all make the same claim that you can save if you change your coverage to them.
How do they all claim to save you money?
All the different companies have a certain “appetite” for the type of customer that is profitable for them. A good example of a driver they prefer could possibly be over the age of 40, has no driving citations, and drives newer vehicles. Any new insured who matches those parameters is entitled to the best price and most likely will save a lot of money.
Potential customers who don’t qualify for the “perfect” profile will be charged a more expensive rate and this can result in business not being written. The ad wording is “people who switch” not “everyone that quotes” save that much. This is how insurance companies can advertise the way they do. That is why you absolutely need to compare as many rates as you can. It is impossible to predict which insurance companies will fit your personal profile best.
Learning about specific coverages of a auto insurance policy can help you determine the right coverages and the correct deductibles and limits. Policy terminology can be confusing and reading a policy is terribly boring. Listed below are the usual coverages found on most auto insurance policies.
This coverage will pay to fix damage to your Sierra 1500 Hybrid resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.
Collision coverage pays for claims such as damaging your car on a curb, driving through your garage door and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.
Your UM/UIM coverage provides protection from other drivers when they either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your GMC Sierra 1500 Hybrid.
Since many drivers carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important.
Medical payments and Personal Injury Protection insurance kick in for bills for chiropractic care, EMT expenses and surgery. The coverages can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is only offered in select states but can be used in place of medical payments coverage
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like hitting a bird, falling objects, damage from getting keyed, a broken windshield and hitting a deer. The highest amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
This protects you from damage or injury you incur to other people or property by causing an accident. This insurance protects YOU from claims by other people, 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. Your policy might show liability limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.
Liability can pay for claims like emergency aid, attorney fees and bail bonds. How much coverage you buy is up to you, but you should buy as high a limit as you can afford.
Lower-priced 2010 GMC Sierra 1500 Hybrid insurance can be purchased on the web and with local insurance agents, and you should be comparing both so you have a total pricing picture. Some companies do not offer online price quotes and many times these small insurance companies only sell through independent insurance agents.
As you restructure your insurance plan, make sure you don’t sacrifice coverage to reduce premiums. There are too many instances where drivers have reduced comprehensive coverage or liability limits only to find out that the savings was not a smart move. Your goal should be to get the best coverage possible at an affordable rate while still protecting your assets.
In this article, we covered a lot of tips how to save on insurance. It’s most important to understand that the more rate quotes you have, the better likelihood of reducing your rate. Consumers could even find that the lowest premiums are with a lesser-known regional company. Regional companies may cover specific market segments cheaper than the large multi-state companies such as Progressive or Geico.
Additional information is available on the following sites: