Are you tired of trying to scrape together enough money to insure your Ford every month? You are no different than many other drivers.
Many insurers vie for your business, and because of this it can be hard to compare auto insurance companies to find the absolute lowest cost out there.
It’s a good idea to compare rates quite often because insurance rates change frequently. Despite the fact that you may have had the best rates for Five Hundred insurance six months ago there is a good chance you can find better rates now. Starting right now, ignore everything you know about auto insurance because it’s time to teach you the only way to lower your annual insurance bill.
If you are paying for car insurance now, you will be able to save some money using this information. Choosing the best insurance company for you is not rocket science. But car owners need to learn how insurance companies price online insurance and take advantage of how the system works.
The price of auto insurance can be rather high, but you can get discounts that you may not know about. Most are applied when you complete an application, but lesser-known reductions have to be inquired about before they will apply.
Keep in mind that many deductions do not apply to the entire policy premium. Most cut the cost of specific coverages such as liability, collision or medical payments. So despite the fact that it appears you could get a free car insurance policy, it just doesn’t work that way. But any discount will reduce your premiums.
For a list of providers with the best car insurance discounts, click here.
Consumers need to have an understanding of some of the elements that play a part in calculating auto insurance rates. When you know what positively or negatively influences your rates allows you to make educated decisions that may reward you with better auto insurance rates.
When it comes to choosing the best insurance coverage, there really is no one size fits all plan. Everyone’s situation is a little different so this has to be addressed. Here are some questions about coverages that may help you determine if your situation might need professional guidance.
If you don’t know the answers to these questions, you might consider 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.
Companies like 21st Century, Allstate and State Farm constantly bombard you with ads in print and on television. All the ads make the same claim that you can save if you switch your policy. How does each company make almost identical claims?
All the different companies can use profiling for the driver that earns them a profit. For instance, a preferred risk might be over the age of 40, insures multiple vehicles, and has great credit. A driver who fits that profile will get the preferred rates and is almost guaranteed to save a lot of money.
Consumers who do not match this ideal profile will have to pay higher rates which usually ends up with business not being written. The ads state “people who switch” but not “drivers who get quotes” save money. That is how insurance companies can make those claims.
Because of the profiling, it’s extremely important to get a wide range of price quotes. Because you never know which company will fit your personal profile best.
Learning about specific coverages of your policy aids in choosing the right coverages for your vehicles. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the usual coverages found on most car insurance policies.
Uninsured and underinsured coverage – This protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Frequently the UM/UIM limits are identical to your policy’s liability coverage.
Comprehensive coverages – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like damage from a tornado or hurricane, vandalism, rock chips in glass and damage from flooding. The highest amount your car insurance company will pay is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Liability coverages – Liability insurance can cover damage or injury you incur to a person or their property. It protects YOU from claims by other people. It does not cover your own vehicle damage or injuries.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 25/50/25 which stand for $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000. Some companies may use a combined limit that pays claims from the same limit rather than limiting it on a per person basis.
Liability insurance covers claims like court costs, repair costs for stationary objects and pain and suffering. How much liability coverage do you need? That is a personal decision, but consider buying as much as you can afford.
Coverage for medical payments – Coverage for medical payments and/or PIP pay for expenses for funeral costs, EMT expenses and chiropractic care. They are often used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to all vehicle occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is not an option in every state and gives slightly broader coverage than med pay
Collision – This coverage covers damage to your Five Hundred from colliding with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers things such as colliding with another moving vehicle, rolling your car, crashing into a building and hitting a mailbox. This coverage can be expensive, so consider dropping it from vehicles that are 8 years or older. You can also raise the deductible to bring the cost down.
As you shop your coverage around, make sure you don’t buy lower coverage limits just to save a few bucks. There are many occasions where consumers will sacrifice liability limits or collision coverage and discovered at claim time that the small savings ended up costing them much more. Your goal should be to purchase a proper amount of coverage at the best price.
Cheap 2007 Ford Five Hundred insurance is definitely available on the web and with local insurance agents, so compare prices from both in order to have the best chance of saving money. Some insurance coverage companies do not offer you the ability to get quotes online and usually these small, regional companies provide coverage only through local independent agents.
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