Looking for lower insurance coverage rates for your Ford Five Hundred? Did you fall for a flashy sales pitch and buy high-priced insurance coverage? Believe me, you’re not the only one.
Since consumers have many online and local companies to choose from, it can be impossible to choose the right insurance company.
It is always a good idea to shop coverage around quite often since insurance rates are rarely the same from one policy term to another. Just because you had the best price on Five Hundred coverage six months ago you may be paying too much now. Block out anything you think you know about insurance coverage because I’m going to let you in on the secrets to the quickest way to find the best coverage while lowering your premiums.
Buying car insurance is not rocket science. Essentially every vehicle owner who buys car insurance will more than likely be able to lower their premiums. But vehicle owners must learn how insurance companies sell online and use this information to your advantage.
Companies do not advertise every available discount in a way that’s easy to find, so we took the time to find some of the more common as well as the least known discounts you could be receiving.
As a disclaimer on discounts, most discounts do not apply to the entire cost. Most cut the price of certain insurance coverages like medical payments or collision. Just because you may think you can get free auto insurance, it just doesn’t work that way.
For a list of companies who offer auto insurance discounts, click here.
When it comes to choosing the best auto insurance coverage for your vehicles, there really is not a one size fits all plan. Coverage needs to be tailored to your specific needs so this has to be addressed. These are some specific questions might point out if your insurance needs might need professional guidance.
If you’re not sure about those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area.
Learning about specific coverages of your policy can help you determine the right coverages and the correct deductibles and limits. Car insurance terms can be impossible to understand and reading a policy is terribly boring. Below you’ll find the usual coverages found on the average car insurance policy.
Comprehensive car insurance
This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like a tree branch falling on your vehicle, hitting a bird and rock chips in glass. The most you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Coverage for liability
Liability insurance provides protection from injuries or damage you cause to other people or property in an accident. It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 25/50/25 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.
Liability coverage pays for claims such as legal defense fees, bail bonds, medical expenses, attorney fees and funeral expenses. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.
Collision coverage protection
This coverage pays for damage to your Five Hundred resulting from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as driving through your garage door, hitting a parking meter, backing into a parked car, crashing into a building and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.
Coverage for medical expenses
Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses such as rehabilitation expenses, doctor visits, dental work, surgery and pain medications. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. It covers you and your occupants as well as being hit by a car walking across the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay
Coverage for uninsured or underinsured drivers
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Five Hundred.
Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
We’ve covered quite a bit of information on how to reduce 1994 Ford Five Hundred insurance prices online. The key thing to remember is the more quotes you get, the higher the chance of saving money. You may even find the lowest rates come from a small mutual company. Smaller companies can often provide lower rates in certain areas as compared to the big name companies such as Allstate, GEICO and Progressive.
Cheaper insurance can be found online and also from your neighborhood agents, and you need to price shop both to have the best chance of lowering rates. Some insurance companies may not provide you the ability to get quotes online and usually these small insurance companies provide coverage only through local independent agents.
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