Sick and tired of being strong-armed to pay your car insurance bill each month? You’re in the same situation as many other drivers. You have so many insurance companies to buy insurance from, and although it’s nice to have a choice, lots of choices makes it harder to compare rates and find the lowest cost car insurance.
It’s important that you understand the different types of things that play a part in calculating insurance rates. Knowing what influences your rates enables informed choices that can help you get big savings.
Shown below are some of the items insurance companies consider when setting your rates.
Companies that sell car insurance don’t always publicize all available discounts in a way that’s easy to find, so we researched both well-publicized as well as the least known insurance savings. If you aren’t receiving every discount possible, you are throwing money away.
Consumers should know that most discounts do not apply the the whole policy. Most cut specific coverage prices like liability, collision or medical payments. So even though it sounds like adding up those discounts means a free policy, it just doesn’t work that way.
To see a list of companies with the best insurance discounts, click here.
Consumers can’t ignore all the ads for the lowest price auto insurance from companies such as Allstate and Progressive. All the ads say the same thing that you can save after switching your policy.
How do they all claim to save you money? It’s all in the numbers.
Different companies can use profiling for the type of driver they prefer to insure. An example of a profitable customer might be over the age of 40, a clean driving record, and chooses high deductibles. A customer getting a price quote who fits that profile gets the lowest rates and as a result will probably cut their rates substantially.
Drivers who don’t measure up to these standards will be charged more money and ends up with business not being written. The ads state “customers who switch” not “everybody who quotes” save that much. That’s the way insurance companies can state the savings. That is why you should get as many quotes as possible. It’s not possible to predict which insurance companies will have the lowest Mercedes-Benz GLK-Class insurance rates.
When choosing proper insurance coverage, there really is not a single plan that fits everyone. Every insured’s situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that may help you determine whether your personal situation could use an agent’s help.
If you can’t answer these questions then you might want to talk to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It is quick, free and can provide invaluable advice.
Knowing the specifics of your policy can help you determine the best coverages for your vehicles. Policy terminology can be confusing and coverage can change by endorsement. Listed below are typical coverages found on the average car insurance policy.
Comprehensive protection – Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive insurance covers claims like a tree branch falling on your vehicle, falling objects and vandalism. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Uninsured or underinsured coverage – This protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family and damage to your Mercedes-Benz GLK-Class.
Because many people have only the minimum liability required by law, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Collision – Collision coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage pays for claims like hitting a mailbox, sustaining damage from a pot hole, sideswiping another vehicle and backing into a parked car. Paying for collision coverage can be pricey, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to choose a higher deductible in order to get cheaper collision rates.
Auto liability insurance – Liability insurance provides protection from damage that occurs to other people or property by causing an accident. This insurance protects YOU against claims from other people, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 100/300/100 that means you have a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000.
Liability coverage protects against things like bail bonds, funeral expenses, legal defense fees and medical expenses. How much coverage you buy is a personal decision, but buy higher limits if possible.
Medical expense coverage – Med pay and PIP coverage reimburse you for expenses for things like surgery, X-ray expenses, doctor visits, ambulance fees and funeral costs. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover both the driver and 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 can be used in place of medical payments coverage
In this article, we presented many ways to reduce 2010 Mercedes-Benz GLK-Class insurance prices online. The most important thing to understand is the more times you quote, the better likelihood of reducing your rate. Consumers may even find the best prices are with some of the lesser-known companies. They often have lower prices on specific markets than the large multi-state companies such as Allstate or State Farm.
As you go through the steps to switch your coverage, it’s very important that you do not sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice collision coverage and discovered at claim time that it was a big error on their part. Your goal should be to buy enough coverage at an affordable rate, not the least amount of coverage.
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