Are you sick and tired of scraping the payment together to pay your car insurance bill each month? Your situation is no different than most other car owners.
Because you have many insurance coverage companies to choose from, it can be challenging to choose the lowest cost insurer.
Companies offering auto insurance don’t list every available discount very well, so we researched some of the best known and also the lesser-known savings tricks you should be using.
As a disclaimer on discounts, most discount credits are not given to the overall cost of the policy. The majority will only reduce specific coverage prices like liability and collision coverage. Just because it seems like it’s possible to get free car insurance, you won’t be that lucky.
Car insurance companies that may have some of the above discounts may include but are not limited to:
Double check with all companies you are considering what discounts are available to you. Savings might not be offered everywhere.
When buying proper insurance coverage, there is no one size fits all plan. Every insured’s situation is different and a cookie cutter policy won’t apply. For instance, these questions might point out whether your personal situation will benefit from professional help.
If it’s difficult to answer those questions but one or more may apply to you then you might want to talk to an agent. To find an agent in your area, simply complete this short form or click here for a list of insurance companies in your area.
Learning about specific coverages of your policy aids in choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be impossible to understand and coverage can change by endorsement. Listed below are the usual coverages found on most insurance policies.
Comprehensive coverage (or Other than Collision)
This will pay to fix damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things such as hitting a deer, damage from getting keyed and fire damage. The maximum amount a 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 consider dropping full coverage.
Liability insurance will cover injuries or damage you cause to people or other property by causing an accident. It protects YOU from claims by other people. It does not cover 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. As an example, you may have limits of 50/100/50 that translate to $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.
Liability insurance covers claims such as loss of income, legal defense fees, repair costs for stationary objects, bail bonds and court costs. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.
Uninsured Motorist or Underinsured Motorist insurance
This coverage provides protection from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since many drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages should not be overlooked.
This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers claims like sideswiping another vehicle, scraping a guard rail and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from older vehicles. You can also raise the deductible in order to get cheaper collision rates.
Insurance for medical payments
Med pay and PIP coverage kick in for immediate expenses such as prosthetic devices, nursing services and ambulance fees. They are often used to fill the gap from your health insurance plan or if there is no health insurance coverage. It covers not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay
Cost effective 2004 Chevy Silverado 1500 insurance is attainable both online and with local insurance agents, and you need to comparison shop both to have the best rate selection. Some companies do not offer the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.
We just covered a lot of techniques to get a better price on insurance. The key concept to understand is the more providers you compare, the higher the chance of saving money. Consumers could even find that the lowest priced auto insurance comes from a small mutual company. They can often provide lower rates in certain areas than the large multi-state companies such as State Farm and Allstate.
Additional auto insurance information is located at the links below