Save on 2014 Mitsubishi Lancer Evolution Insurance Cost

Did you fall for a flashy sales pitch and buy an overpriced insurance coverage policy? Trust us, you’re not alone. You have so many auto insurance companies to purchase coverage from, and though it is a good thing to have a choice, too many choices makes it more difficult to find the lowest rates.

It’s a great practice to compare prices at least once a year because prices tend to go up over time. Just because you had the best price for Lancer Evolution insurance a couple years back you will most likely find a better rate today. Starting now, ignore everything you know about insurance coverage because we’re going to show you the things you must know in order to save on insurance coverage.

How to Compare Insurance Quotes

Finding lower insurance rates is not a difficult process. You just have to spend a few minutes to get quotes provided by online insurance companies. It is quite easy and can be accomplished using a couple different methods.

  • The single most time-saving way to get quotes for comparison would be an industry-wide quote request form click here to open form in new window. This form eliminates the need for boring form submissions for each company you want a rate for. Taking the time to complete one form compares rates from multiple companies.
  • Another way to obtain and compare quotes online requires a visit to the website for each individual company to request a price quote. For examples sake, let’s say you want to compare Allstate, 21st Century and GMAC. You would have to take the time to go to each site and enter your information, which is why most consumers use the first method.

    For a handy list of car insurance company links in your area, click here.

Whichever way you use, ensure you’re using apples-to-apples information for each comparison quote. If you have different values for each quote you can’t possibly decipher which rate is best.

These discounts can lower your rates

Auto insurance companies don’t always list every available discount very clearly, so we break down both the well known and the more hidden ways to save on insurance. If you’re not getting every credit possible, you are throwing money away.

  • Drivers Ed for Students – Have your child take driver’s ed class in school.
  • Good Student Discount – This discount can earn a discount of 20% or more. Earning this discount can benefit you until age 25.
  • Early Switch Discount – Select companies give a discount for signing up before your current policy expires. It’s a savings of about 10%.
  • Theft Prevention System – Vehicles equipped with anti-theft or alarm systems are stolen less frequently and will save you 10% or more.
  • Seat Belts Save – Requiring all passengers to use a seat belt can save up to 15% on the medical payments or PIP coverage costs.
  • Save over 55 – If you’re over the age of 55, you may qualify for reduced rates for Lancer Evolution insurance.
  • Multi-policy Discount – If you have multiple policies with the same company you will save 10% to 20% off each policy.
  • Discounts for Safe Drivers – Drivers who avoid accidents can pay as much as 50% less for Lancer Evolution insurance than drivers with accident claims.
  • Life Insurance – Companies who offer life insurance give better rates if you take out a life insurance policy as well.

As a disclaimer on discounts, many deductions do not apply the the whole policy. The majority will only reduce the cost of specific coverages such as medical payments or collision. Even though it may seem like you would end up receiving a 100% discount, it doesn’t quite work that way.

For a list of companies who offer insurance discounts, click here.

Different people need different coverages

When buying adequate coverage for your vehicles, there isn’t really a best way to insure your cars. Each situation is unique so this has to be addressed. These are some specific questions may help you determine whether your personal situation will benefit from professional help.

  • Am I covered if I break a side mirror?
  • Why am I required to buy liability insurance?
  • What is no-fault insurance?
  • Should I get collision insurance on every vehicle?
  • What is covered by UM/UIM coverage?
  • Should I buy additional glass protection?
  • Will I be non-renewed for getting a DUI or other conviction?

If it’s difficult to answer those questions, you might consider talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area. It is quick, free and may give you better protection.

Complexity of Mitsubishi Lancer Evolution insurance rates

An important part of buying insurance is that you know some of the elements that come into play when calculating the price you pay for car insurance. Knowing what influences your rates helps enable you to make changes that can help you get big savings.

The list below includes a few of the “ingredients” that factor into your rates.

  • Are you male or female? – Statistics have proven that men are more aggressive behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Women and men tend to get into accidents at about the same rate, but the men cause more damage. Men also statistically get more serious tickets like reckless driving and DUI. Young males are the most expensive to insure and are penalized with high car insurance rates.
  • Do you need those extra coverages? – There are many extra bells and whistles that can waste your money when buying car insurance. Coverages for vanishing deductibles, accident forgiveness and term life insurance are examples of these. These may sound like a good investment initially, but if they’re wasting money eliminate them to save money.
  • Your job and insurance rates – Did you know your car insurance rates can be affected by your occupation? Occupations like lawyers, architects and stock brokers are shown to have the highest rates in part from high stress levels and long work days. On the other hand, occupations such as actors, students and performers pay the least for Lancer Evolution insurance.
  • Don’t sacrifice liability coverage – The liability section of your policy is the protection if a jury decides you are liable for causing damage or personal injury in an accident. Liability insurance provides legal defense up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
  • Your car’s features help determine rates – Driving a car with an alarm system can help lower your rates. Anti-theft features such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder auto theft.
  • A clean driving record saves money – A bad driving record has a huge affect on how much you pay. Drivers with clean records tend to pay less for car insurance than bad drivers. Even one ticket may increase your cost forty percent or more. If you have serious violations such as hit and run, DWI or reckless driving convictions may find they need to file a proof of financial responsibility form (SR-22) to the state department of motor vehicles in order to continue driving.
  • Higher deductibles cost less – Deductibles for physical damage represent how much money you are required to spend in the event of a claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, is used to repair damage to your car. Some examples of claims that would be covered are colliding with a building, damage caused by hail, and rolling your vehicle. The more the insured has to pay upfront, the less your car insurance will be for Lancer Evolution insurance.
  • Discounts for multiple policies – Some insurance companies give discounts to customers who have multiple policies with them such as combining an auto and homeowners policy. This can amount to 10 percent or more. If you currently are using one company, it’s in your best interest to compare rates to ensure the best deal.

Do insurance companies bend the truth?

Drivers get pounded daily by advertisements for car insurance savings by companies like State Farm, Allstate and Geico. They all make an identical promise about savings after switching to them.

How can each company say the same thing? This is how they do it.

All the different companies can use profiling for the driver that makes them money. An example of a desirable insured could possibly be over the age of 50, owns a home, and has a high credit rating. Any new insured who meets those qualifications is entitled to the best price and therefore will save a lot of money.

Potential customers who fall outside these standards will be charged a higher premium which usually ends up with the driver buying from a lower-cost company. The ad wording is “customers who switch” not “people who quote” save that kind of money. This is how insurance companies can make those claims. That is why it is so important to compare many company’s rates. You cannot predict the company that will have the lowest Mitsubishi Lancer Evolution insurance rates.

Car insurance coverages for a Mitsubishi Lancer Evolution

Having a good grasp of your insurance policy helps when choosing the right coverages for your vehicles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverage types available from insurance companies.

Collision coverage protection

Collision coverage will pay to fix damage to your Lancer Evolution caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.

Collision insurance covers things such as rolling your car, driving through your garage door, sideswiping another vehicle, damaging your car on a curb and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. You can also raise the deductible in order to get cheaper collision rates.

Auto liability

This coverage will cover damage that occurs to people or other property. It protects you from claims by other people, and doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 that means you have $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability insurance covers things like structural damage, medical services, medical expenses, funeral expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is your choice, but buy as high a limit as you can afford.

Comprehensive protection

Comprehensive insurance covers 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 insurance covers claims such as fire damage, hitting a bird, theft, falling objects and hitting a deer. The most you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other motorists when they either are underinsured or have no liability coverage at all. This coverage pays for injuries to you and your family as well as your vehicle’s damage.

Due to the fact that many drivers have only the minimum liability required by law, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Medical expense coverage

Med pay and PIP coverage provide coverage for expenses such as prosthetic devices, X-ray expenses, funeral costs, nursing services and rehabilitation expenses. The coverages can be utilized in addition to your health insurance program or if there is no health insurance coverage. It covers all vehicle occupants and will also cover if you are hit as a while walking down the street. PIP is not an option in every state but can be used in place of medical payments coverage

More quotes. Lower rates.

When you buy insurance online, it’s very important that you do not reduce needed coverages to save money. There have been many situations where someone dropped physical damage coverage to discover at claim time that the few dollars in savings costed them thousands. The aim is to buy enough coverage at an affordable rate.

In this article, we presented some good ideas how to save on 2014 Mitsubishi Lancer Evolution insurance. The key thing to remember is the more times you quote, the better your comparison will be. Consumers may even find the biggest savings come from a smaller regional carrier. Smaller companies may cover specific market segments cheaper compared to the large companies like Geico and State Farm.

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