Are you a victim of an overpriced insurance policy? Trust us when we tell you you are not the only one feeling buyer’s remorse.
Insurance companies such as Allstate and Progressive all claim big savings with TV and radio ads and it can be hard to ignore the flashy ads and find the best price available.
Consumers need to have an understanding of the different types of things that go into determining the rates you pay for car insurance. When you know what positively or negatively impacts premium levels helps enable you to make changes that could result in better car insurance rates.
The cost of insuring your cars can be expensive, but discounts can save money and there are some available that you may not even be aware of. Some discounts apply automatically when you complete an application, but less common discounts must be requested specifically before being credited.
Consumers should know that many deductions do not apply to all coverage premiums. Some only reduce individual premiums such as comp or med pay. So when it seems like all the discounts add up to a free policy, you won’t be that lucky. Any amount of discount will help reduce the amount you have to pay.
For a list of providers who offer car insurance discounts, follow this link.
Allstate and Progressive continually stream ads in print and on television. All the companies say the same thing of big savings after switching your policy. But how can every company make the same claim? It’s all in the numbers.
All companies have a preferred profile for the type of customer that makes them money. For instance, a preferred risk might be between the ages of 40 and 55, insures multiple vehicles, and drives less than 10,000 miles a year. A customer who fits that profile will get very good rates and as a result will probably save when they switch companies.
Potential insureds who don’t meet this ideal profile must pay a more expensive rate and ends up with the customer not buying. The ads say “customers who switch” but not “drivers who get quotes” save that kind of money. That’s why companies can truthfully state the savings.
This illustrates why it is so important to compare as many rates as you can. You cannot predict the company that will have the lowest Kia Sorento insurance rates.
When buying proper insurance coverage, there is no one size fits all plan. Every situation is different so your insurance needs to address that. Here are some questions about coverages that can help discover whether you might need professional guidance.
If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies.
Learning about specific coverages of your car insurance policy can help you determine the best coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. Below you’ll find the usual coverages found on the average car insurance policy.
Collision coverages – Collision insurance covers damage to your Sorento caused by collision with an object or car. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for things such as sideswiping another vehicle, crashing into a building and backing into a parked car. This coverage can be expensive, so consider dropping it from vehicles that are older. Another option is to raise the deductible to bring the cost down.
UM/UIM (Uninsured/Underinsured Motorist) coverage – This provides protection when other motorists either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.
Because many people carry very low liability coverage limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits are identical to your policy’s liability coverage.
Medical payments and PIP coverage – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like pain medications, dental work, doctor visits, X-ray expenses and rehabilitation expenses. The coverages can be used in conjunction with a health insurance program or if you do not have health coverage. Medical payments and PIP cover both the driver and occupants and also covers any family member struck as a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage
Coverage for liability – Liability coverage will cover damage or injury you incur to a person or their property in an accident. This insurance protects YOU against other people’s claims, and does not provide coverage for damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 25/50/25 which means a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property. Another option is one number which is a combined single limit that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability can pay for claims like medical services, medical expenses and loss of income. How much coverage you buy is a decision to put some thought into, but buy higher limits if possible.
Comprehensive auto coverage – Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against things such as damage from a tornado or hurricane, fire damage, rock chips in glass and hitting a bird. The highest amount your car insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
As you go through the steps to switch your coverage, make sure you don’t sacrifice coverage to reduce premiums. In many cases, drivers have reduced uninsured motorist or liability limits only to regret they didn’t purchase enough coverage. Your strategy should be to buy the best coverage you can find at an affordable rate.
We’ve covered a lot of techniques to lower your 2008 Kia Sorento insurance rates. The most important thing to understand is the more rate comparisons you have, the higher your chance of finding lower rates. You may even discover the most savings is with a company that doesn’t do a lot of advertising. These companies may often insure only within specific states and give getter rates as compared to the big name companies such as Progressive and GEICO.