Have you fallen victim to an overpriced insurance coverage policy? Trust us when we tell you you’re not the only one.
Popular companies such as GEICO and Progressive continually bombard you with TV and radio ads and it is difficult to see past the corporate glitz and find the best price available.
You should make it a habit to shop coverage around yearly because rates tend to go up over time. Even if you got the best price on S8 insurance six months ago you can probably find a better price now. Forget all the misinformation about insurance coverage because I’m going to let you in on the secrets to the only way to find the best coverage while lowering your premiums.
Companies do not list every discount in a way that’s easy to find, so we researched some of the more common and also the lesser-known savings tricks you should be using.
A little note about advertised discounts, some of the credits will not apply to the entire cost. Some only reduce individual premiums such as comp or med pay. Just because you may think all the discounts add up to a free policy, car insurance companies aren’t that generous.
For a list of providers offering car insurance discounts, click here to view.
When it comes to choosing coverage, there isn’t really a perfect coverage plan. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that could help you determine whether or not you could use an agent’s help.
If it’s difficult to answer those questions but you know they apply to you, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area.
Car insurance companies such as State Farm, Allstate and GEICO continually stream television and radio advertisements. They all seem to make an identical promise about savings after switching to them. But how can every company make the same claim?
Insurance companies have a preferred profile for the right customer that is profitable for them. A good example of a preferred risk might be profiled as over the age of 40, insures multiple vehicles, and drives newer vehicles. Any driver who meets those qualifications will get the preferred rates and is almost guaranteed to save a lot of money.
Consumers who fall outside the requirements will have to pay higher rates which leads to business not being written. Company advertisements say “customers who switch” not “people who quote” save that much money. That is how insurance companies can make those claims. Because of the profiling, you should quote coverage with many companies. It is impossible to predict which car insurance company will have the lowest Audi S8 insurance rates.
Having a good grasp of your policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. These are typical coverage types available from car insurance companies.
Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered claims include injuries to you and your family as well as damage to your Audi S8.
Since a lot of drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
This coverage will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as theft, fire damage, damage from a tornado or hurricane, rock chips in glass and a tree branch falling on your vehicle. The maximum payout your car insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses for funeral costs, chiropractic care and nursing services. The coverages can be used in conjunction with a health insurance policy or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers being hit by a car walking across the street. PIP is not available in all states but can be used in place of medical payments coverage
Collision coverage will pay to fix damage to your S8 from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things like colliding with another moving vehicle, rolling your car, scraping a guard rail and sustaining damage from a pot hole. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. You can also bump up the deductible to bring the cost down.
This coverage provides protection from damage that occurs to other people or property by causing an accident. It protects you against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 50/100/50 which means a limit of $50,000 per injured person, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.
Liability coverage protects against things like bail bonds, court costs and loss of income. The amount of liability coverage you purchase is your choice, but buy as large an amount as possible.
As you prepare to switch companies, make sure you don’t reduce needed coverages to save money. There have been many cases where someone sacrificed full coverage only to find out that the small savings ended up costing them much more. The proper strategy is to buy a smart amount of coverage at the best price while still protecting your assets.
Throughout this article, we presented some good ideas how you can lower your 2001 Audi S8 insurance rates. The key concept to understand is the more providers you compare, the better likelihood of reducing your rate. Consumers may even find the best price on auto insurance is with a company that doesn’t do a lot of advertising. Some small companies often have lower prices on specific markets as compared to the big name companies such as State Farm and Allstate.
Cheaper insurance can be purchased from both online companies and also from your neighborhood agents, so compare prices from both to have the best chance of lowering rates. Some companies may not provide you the ability to get quotes online and these small insurance companies work with independent agents.
Even more information can be read at these sites: