Sick and tired of paying out the nose to insure your Oldsmobile every month? You’re in the same situation as many other consumers.
Popular companies such as GEICO, Farmers Insurance and State Farm all claim big savings, bombarding you with catchy ads and consumers find it hard to see past the geckos and flying pigs and find the best price available.
If you currently have car insurance, you should be able to save some money using this information. Finding affordable coverage is easy if you know what you’re doing. Although vehicle owners need to learn the way insurance companies sell online.
An important part of buying insurance is that you know some of the elements that play a part in calculating the rates you pay for insurance. Knowing what impacts premium levels allows you to make educated decisions that will entitle you to lower insurance prices.
Shown below are a few of the “ingredients” companies use to determine prices.
Car insurance companies don’t always advertise all their discounts very well, so the following is a list of some of the more common as well as the least known savings tricks you should be using.
Drivers should understand that most discount credits are not given to the entire policy premium. The majority will only reduce specific coverage prices like comp or med pay. So despite the fact that it appears it’s possible to get free car insurance, companies don’t profit that way.
To see a list of insurance companies who offer car insurance discounts, click here to view.
Progressive, GEICO, Allstate and State Farm constantly bombard you with ads in print and on television. All the companies say the same thing that you can save if you switch to their company. How can each company say the same thing?
All the different companies are able to cherry pick for the type of customer that earns them a profit. An example of a driver they prefer could possibly be over the age of 40, owns a home, and has a high credit rating. Any driver who fits that profile will get the preferred rates and therefore will save when switching.
Consumers who fall outside these standards will be quoted a more expensive rate which usually ends up with the customer not buying. The ads state “customers that switch” not “everybody who quotes” save money. That is how companies can truthfully state the savings. This emphasizes why it is so important to compare many company’s rates. It’s not possible to predict which company will give you the biggest savings on Oldsmobile Alero insurance.
When it comes to buying coverage for your vehicles, there is no one size fits all plan. Your needs are not the same as everyone else’s so your insurance needs to address that. These are some specific questions can help discover whether you may require specific advice.
If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to 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.
Understanding the coverages of auto insurance aids in choosing the best coverages for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Shown next are the normal coverages available from auto insurance companies.
This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
This coverage protects you from injuries or damage you cause to other’s property or people by causing an accident. It protects YOU from claims by other people, and does not provide coverage for damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see values of 100/300/100 which means a $100,000 limit per person for injuries, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.
Liability coverage pays for claims such as emergency aid, structural damage and bail bonds. How much liability coverage do you need? That is a decision to put some thought into, but consider buying higher limits if possible.
Comprehensive insurance coverage covers damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for things such as damage from flooding, rock chips in glass, damage from getting keyed and hitting a deer. The maximum payout you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Collision coverage covers damage to your Alero resulting from a collision with an object or car. A deductible applies and then insurance will cover the remainder.
Collision can pay for claims such as colliding with a tree, hitting a parking meter, damaging your car on a curb and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to increase the deductible to save money on collision insurance.
Med pay and PIP coverage reimburse you for expenses for X-ray expenses, hospital visits, chiropractic care, prosthetic devices and funeral costs. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
Low-cost 2003 Oldsmobile Alero insurance is available both online as well as from independent agents, so you should be comparing quotes from both to get a complete price analysis. Some insurance companies don’t offer online price quotes and usually these regional insurance providers provide coverage only through local independent agents.
In this article, we covered some good ideas how you can get a better price on insurance. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. You may be surprised to find that the best price on insurance is with the smaller companies. Regional companies may have significantly lower rates on certain market segments than their larger competitors like Progressive or GEICO.
While you’re price shopping online, never reduce coverage to reduce premium. In many instances, someone dropped collision coverage only to regret that their decision to reduce coverage ended up costing them more. Your goal should be to get the best coverage possible at a price you can afford, not the least amount of coverage.
Additional detailed information can be found by following these links: