Feel like you’re a prisoner to an overpriced insurance coverage policy? Trust us, you’re not the only one.
You have so many insurance companies to buy insurance from, and although it’s nice to have a selection, it can be more difficult to find the lowest rates.
Auto insurance companies do not advertise all available discounts very well, so the following is a list of some of the best known and also the lesser-known savings tricks you should be using.
As a disclaimer on discounts, most discounts do not apply to the entire cost. Some only apply to individual premiums such as comprehensive or collision. So when it seems like it’s possible to get free car insurance, you won’t be that lucky.
To see a list of insurers who offer insurance coverage discounts, click here to view.
When buying the right insurance coverage, there isn’t really a best way to insure your cars. Each situation is unique and a cookie cutter policy won’t apply. For instance, these questions might help in determining whether you will benefit from professional help.
If it’s difficult to answer those questions but a few of them apply then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.
Understanding the coverages of car insurance can help you determine which coverages you need and proper limits and deductibles. Car insurance terms can be ambiguous and reading a policy is terribly boring. Listed below are the normal coverages available from car insurance companies.
Liability car insurance
Liability insurance provides protection from damage or injury you incur to other’s property or people in an accident. It protects YOU from legal claims by others. Liability doesn’t cover your injuries or vehicle damage.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see limits of 50/100/50 that translate to a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000.
Liability coverage pays for claims like funeral expenses, court costs and pain and suffering. How much liability coverage do you need? That is your choice, but buy as large an amount as possible.
Uninsured and underinsured coverage
Your UM/UIM coverage gives you protection when the “other guys” do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your 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. This is the reason having UM/UIM coverage should not be overlooked.
Coverage for medical payments
Med pay and PIP coverage kick in for expenses for things like ambulance fees, doctor visits, chiropractic care and dental work. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants as well as if you are hit as a while walking down the street. PIP coverage is not an option in every state and may carry a deductible
Comprehensive insurance coverage pays for 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 coverage protects against things like hail damage, a broken windshield and rock chips in glass. The most you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Collision coverage pays for damage to your Eclipse resulting from colliding with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like crashing into a ditch, rolling your car, driving through your garage door and colliding with another moving vehicle. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible to save money on collision insurance.
Affordable 1995 Mitsubishi Eclipse insurance can be sourced online in addition to many insurance agents, and you need to price shop both in order to have the best chance of saving money. Some car insurance companies do not provide online price quotes and many times these smaller companies only sell through independent insurance agents.
We just presented some good ideas how you can save on insurance. The key concept to understand is the more rate comparisons you have, the better likelihood of reducing your rate. You may even find the biggest savings come from an unexpected company. Smaller companies may often insure only within specific states and give getter rates than their larger competitors like Progressive and GEICO.
More detailed car insurance information can be read in the articles below: