Searching for the cheapest insurance rates for your Oldsmobile Silhouette? Cutting costs on insurance can seem to be a challenge for beginners to comparison shopping online. Drivers have so many companies to choose from that it can turn into a ton of work to locate the lowest price.
It’s important that you understand some of the elements that help determine your auto insurance rates. Knowing what influences your rates empowers consumers to make smart changes that will entitle you to lower auto insurance prices.
The following are some of the factors used by your company to calculate prices.
The price of auto insurance can be rather high, buy you may qualify for discounts to reduce the price significantly. A few discounts will automatically apply at the time of quoting, but some may not be applied and must be inquired about before being credited.
It’s important to understand that most credits do not apply to the entire policy premium. Most cut the cost of specific coverages such as liability and collision coverage. So even though it sounds like adding up those discounts means a free policy, auto insurance companies aren’t that generous. Any qualifying discounts will reduce the amount you have to pay.
For a list of insurers who offer auto insurance discounts, click here.
Auto insurance providers like State Farm and Allstate regularly use ads in print and on television. They all say the same thing that you can save if you move to their company. But how can every company make almost identical claims?
All the different companies can use profiling for the right customer that is profitable for them. For instance, a preferred risk could possibly be over the age of 40, insures multiple vehicles, and has a short commute. A propective insured that hits that “sweet spot” will qualify for the lowest rates and is almost guaranteed to save quite a bit of money when switching.
Consumers who don’t qualify for these standards will be quoted a more expensive rate which usually ends up with business going elsewhere. Company advertisements say “drivers who switch” not “people who quote” save that much money. That is how insurance companies can advertise the savings.
This emphasizes why drivers should compare many company’s rates. It’s impossible to know which auto insurance company will provide you with the cheapest Oldsmobile Silhouette insurance rates.
When it comes to buying proper insurance coverage, there is no cookie cutter policy. Every insured’s situation is different.
For instance, these questions might help in determining whether your personal situation would benefit from an agent’s advice.
If it’s difficult to answer those questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.
Having a good grasp of auto insurance can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording.
Comprehensive protection – Comprehensive insurance coverage covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things such as a broken windshield, hitting a bird, hitting a deer, vandalism and damage from flooding. The maximum amount a auto insurance company will pay at claim time 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.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses like ambulance fees, funeral costs, rehabilitation expenses and chiropractic care. They are often utilized in addition to your health insurance plan or if you do not have health coverage. They cover you and your occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay
Auto liability insurance – Liability insurance can cover injuries or damage you cause to people or other property that is your fault. This insurance protects YOU against other people’s claims. It does not cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 100/300/100 that means you have $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Another option is a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability can pay for claims such as loss of income, legal defense fees, medical services and pain and suffering. How much coverage you buy is up to you, but buy as much as you can afford.
Collision – Collision insurance will pay to fix damage to your Silhouette from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims like colliding with another moving vehicle, sideswiping another vehicle, rolling your car and scraping a guard rail. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. Drivers also have the option to raise the deductible to bring the cost down.
Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants from other motorists when they do not carry enough liability coverage. Covered losses include medical payments for you and your occupants as well as damage to your Oldsmobile Silhouette.
Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. So UM/UIM coverage is a good idea. Normally the UM/UIM limits are set the same as your liablity limits.
The cheapest 2002 Oldsmobile Silhouette insurance is definitely available both online and with local insurance agents, and you need to price shop both to have the best rate selection. There are still a few companies who do not offer online price quotes and many times these smaller companies only sell through independent insurance agents.
As you shop your coverage around, don’t be tempted to reduce needed coverages to save money. There have been many situations where consumers will sacrifice collision coverage and found out when filing a claim they didn’t have enough coverage. Your goal should be to find the BEST coverage for the lowest price while still protecting your assets.
Consumers who switch companies do it for any number of reasons including poor customer service, denial of a claim, high prices and delays in paying claims. It doesn’t matter why you want to switch finding a new insurance company can be less work than you think.
Additional insurance information can be read at the links below