Sick and tired of robbing Peter to pay Paul to pay your car insurance bill each month? You are in the same boat as most other car owners.
Numerous car insurance companies battle for your hard-earned dollar, and because of this it can be hard to compare car insurance companies and uncover the absolute lowest price
If you currently have a car insurance policy, you will most likely be able to cut costs considerably using these techniques. Choosing the best insurance company for you is easy if you know what you’re doing. But consumers must understand how big insurance companies sell insurance online and take advantage of how the system works.
The cost of insuring your cars can be expensive, but discounts can save money and there are some available that you may not know about. A few discounts will automatically apply when you purchase, but a few must be manually applied before you will receive the discount.
As a disclaimer on discounts, most credits do not apply the the whole policy. Most only cut the cost of specific coverages such as comprehensive or collision. So even though it sounds like all those discounts means the company will pay you, it doesn’t quite work that way. But any discount will help reduce the cost of coverage.
For a list of companies offering insurance coverage discounts, click here to view.
When buying the right insurance coverage, there really is not a “perfect” insurance plan. Everyone’s situation is unique so your insurance should reflect that Here are some questions about coverages that might help in determining if your insurance needs will benefit from professional help.
If you don’t know the answers to these questions but you think they might apply to your situation then you might want to talk to an agent. If you don’t have a local agent, fill out this quick form or click here for a list of auto insurance companies in your area.
Car insurance companies such as State Farm, GEICO and Progressive consistently run ads in print and on television. They all seem to make the same claim that you’ll save big if you change to them. How can each company claim to save you money? It’s all in the numbers.
All companies have a certain “appetite” for the right customer that makes them money. For example, a preferred risk might be a mature driver, is a homeowner, and chooses high deductibles. Any driver that hits that “sweet spot” receives the best rates and as a result will probably save when switching.
Potential customers who don’t meet these standards will be charged higher prices and this can result in the driver buying from a lower-cost company. The ad wording is “people who switch” not “people who quote” save money. This is how insurance companies can advertise the savings.
That is why it is so important to get a wide range of price quotes. It’s not possible to predict which company will fit your personal profile best.
Knowing the specifics of a insurance policy aids in choosing which coverages you need at the best deductibles and correct limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. These are typical coverages found on most insurance policies.
This will cover damages or injuries you inflict on other’s property or people by causing an accident. It protects YOU from claims by other people, and doesn’t cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and a total limit of $50,000 for damage to vehicles and property. Some companies may use one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.
Liability coverage pays for things such as repair bills for other people’s vehicles, pain and suffering, funeral expenses and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but buy as high a limit as you can afford.
Comprehensive insurance coverage covers damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims like damage from flooding, hitting a deer, rock chips in glass, hitting a bird and damage from getting keyed. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Medical payments coverage and PIP
Coverage for medical payments and/or PIP reimburse you for bills like prosthetic devices, chiropractic care, rehabilitation expenses, surgery and hospital visits. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Collision coverage covers damage to your Rally Wagon caused by collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for things like colliding with another moving vehicle, sideswiping another vehicle, damaging your car on a curb and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Another option is to bump up the deductible to save money on collision insurance.
Uninsured/Underinsured Motorist coverage
This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries 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. This is the reason having UM/UIM coverage is important protection for you and your family. Frequently these coverages are identical to your policy’s liability coverage.
Budget-conscious 1993 GMC Rally Wagon insurance can be sourced on the web and with local insurance agents, and you should compare price quotes from both to have the best selection. A few companies do not offer online price quotes and many times these small insurance companies only sell through independent insurance agents.
You just read quite a bit of information on how to save on insurance. The most important thing to understand is the more rate quotes you have, the higher the chance of saving money. You may even find the best price on car insurance is with a smaller regional carrier. These smaller insurers may only write in your state and offer lower rates than the large multi-state companies such as State Farm or Progressive.