Feel like you’re a prisoner to an underperforming, overpriced insurance policy? Believe me, many consumers are feeling buyer’s remorse and feel like there’s no way out.
Because there are so many insurance companies to choose from, it can be hard to locate the cheapest insurer.
Locating the best insurance coverage is quite easy. Essentially every vehicle owner who shops for insurance coverage will most likely be able to lower their premiums. But car owners can benefit by having an understanding of how insurance companies price insurance differently.
Comparing auto insurance rates can be a daunting task if you aren’t aware of the most efficient way to do it. You could waste time driving to local insurance agents in your area, or you could use online quoting for quick rates.
The majority of car insurance companies belong to a marketplace that allows shoppers to send in one quote, and at least one company then gives them pricing based on that data. This eliminates the need for quote forms for each company you want a rate for.
To find out how much you can save on auto insurance click to open in new window.
The only downside to doing it this way is you cannot specify which companies to receive prices from. So if you prefer to choose specific insurance companies to compare rates, we have a listing of auto insurance companies in your area. Click to view list.
Whichever way you use, ensure you’re using the exact same coverage limits and deductibles for each price quote. If the quotes have higher or lower deductibles it will be next to impossible to truly determine the lowest rate. Just a small difference in limits may cause a big price difference. Just remember that more quotes helps locate better pricing.
Insurance can be prohibitively expensive, but discounts can save money and there are some available to help bring down the price. Certain discounts will be triggered automatically at the time you complete a quote, but some may not be applied and must be specifically requested before they will apply.
A little note about advertised discounts, many deductions do not apply to your bottom line cost. Most only cut the price of certain insurance coverages like collision or personal injury protection. Just because you may think adding up those discounts means a free policy, you won’t be that lucky. Any amount of discount will cut the cost of coverage.
Insurance companies that possibly offer some of the above discounts include:
Double check with all companies you are considering what discounts are available to you. Discounts may not be available in your state.
When it comes to buying proper insurance coverage, there is no single plan that fits everyone. Every insured’s situation is different so your insurance should reflect that Here are some questions about coverages that may help you determine if you will benefit from professional help.
If you can’t answer these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.
Understanding the coverages of your insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. Insurance terms can be ambiguous and nobody wants to actually read their policy. These are the normal coverages found on most insurance policies.
Collision coverages – Collision insurance pays for damage to your S-10 Blazer resulting from colliding with another car or object. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for claims such as colliding with another moving vehicle, damaging your car on a curb and hitting a mailbox. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from older vehicles. It’s also possible to raise the deductible in order to get cheaper collision rates.
Comprehensive coverage – Comprehensive insurance coverage pays for 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 coverage pays for things like fire damage, hitting a deer, a broken windshield, damage from getting keyed and rock chips in glass. The maximum payout 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.
Liability – This coverage will cover damage that occurs to people or other property. This insurance protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 50/100/50 which stand for a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Another option is one number which is a combined single limit which provides one coverage limit rather than limiting it on a per person basis.
Liability insurance covers things like emergency aid, bail bonds, medical services, loss of income and medical expenses. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage gives you protection from other motorists when they 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 Chevy S-10 Blazer.
Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Usually these coverages do not exceed the liability coverage limits.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses such as ambulance fees, surgery and pain medications. They can be used to cover expenses not covered by your health insurance program or if you do not have health coverage. It covers all vehicle occupants in addition to being hit by a car walking across the street. PIP is not available in all states and may carry a deductible