Are you sick and tired of robbing Peter to pay Paul to pay your car insurance bill each month? Your situation is no different than many other consumers.
Online insurance companies like Progressive, GEICO and Farmers Insurance increase brand awareness with TV and radio ads and it is challenging if not impossible to see through the deception and do the work needed to find the best deal.
The most recommended method to compare insurance rates from multiple companies is to know car insurance companies participate in online systems to give rate comparisons. All consumers are required to do is give them some information such as what you do for a living, if you went to college, if your license is active, and if it has an anti-theft system. The data gets transmitted to multiple top-rated companies and you get price estimates immediately.
When it comes to buying proper insurance coverage for your personal vehicles, there really is not a cookie cutter policy. Every insured’s situation is different so this has to be addressed. For example, these questions could help you determine whether or not you might need an agent’s assistance.
If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies.
Learning about specific coverages of your auto insurance policy can help you determine the right coverages at the best deductibles and correct limits. Auto insurance terms can be confusing and reading a policy is terribly boring. Listed below are the usual coverages found on the average auto insurance policy.
Liability coverage can cover damage that occurs to people or other property in an accident. It protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 25/50/25 that means you have a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability coverage pays for things like loss of income, medical services, medical expenses and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but you should buy as large an amount as possible.
Comprehensive insurance pays for damage that is not covered by collision coverage. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like vandalism, a tree branch falling on your vehicle, damage from getting keyed and fire damage. The maximum payout your auto insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance pay for short-term medical expenses for things like pain medications, hospital visits, doctor visits and funeral costs. They are utilized in addition to your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and also covers any family member struck as a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage
Uninsured and underinsured coverage
This coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your 2008 Tesla Roadster.
Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Normally the UM/UIM limits are similar to your liability insurance amounts.
Collision coverage will pay to fix damage to your Roadster resulting from colliding with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage protects against claims such as rolling your car, backing into a parked car, colliding with another moving vehicle and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Drivers also have the option to increase the deductible to bring the cost down.