Are you a victim of an overpriced auto insurance policy? Trust us when we tell you there are a lot of people just like you who feel imprisoned by their auto insurance policy. Big-name insurance companies like GEICO and Progressive promote their brand names with ads and it is challenging if not impossible to separate fact from fiction and find the best price available.
If you have a current car insurance policy or are just looking to switch companies, you can learn to shop for the lowest rates and possibly find even better coverage. Finding affordable coverage is not rocket science. Vehicle owners only need to know the proper methods to get comparison quotes over the internet.
It’s important that you understand the factors that play a part in calculating the price you pay for insurance coverage. Understanding what controls the rates you pay enables informed choices that may reward you with better insurance coverage rates.
Shown below are some of the items insurance coverage companies consider when setting rates.
Car insurance can cost a lot, but discounts can save money and there are some available that many people don’t even know exist. Certain discounts will be triggered automatically when you get a quote, but some may not be applied and must be asked about before you will receive the discount. If you’re not getting every credit you qualify for, you’re just leaving money on the table.
As a disclaimer on discounts, most discount credits are not given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like collision or personal injury protection. Just because you may think all the discounts add up to a free policy, it doesn’t quite work that way. But all discounts will reduce your overall premium however.
A partial list of companies that may have these benefits may include but are not limited to:
Check with each insurance company which discounts they offer. Some discounts may not apply in your area.
Consumers get pounded daily by advertisements for the lowest price auto insurance by companies like Progressive, GEICO, Allstate and State Farm. They all say the same thing that you can save if you switch to them.
How do they all claim to save you money? This is how they do it.
Different companies have a preferred profile for the driver that makes them money. A good example of a preferred risk might be between 30 and 50, has no driving citations, and has a high credit rating. A customer who matches those parameters receives the best rates and most likely will save when switching.
Drivers who fall outside the “perfect” profile will have to pay higher premiums and this can result in the driver buying from a lower-cost company. The ads state “people who switch” not “everyone that quotes” save that much. That’s the way companies can advertise the savings.
Because of the profiling, it is so important to get quotes from several different companies. It is impossible to predict which insurance companies will fit your personal profile best.
When buying proper insurance coverage for your personal vehicles, there really is no one size fits all plan. Every insured’s situation is different so this has to be addressed. For example, these questions may help highlight if your situation might need professional guidance.
If you don’t know the answers to these questions then you might want to talk to an agent. To find lower rates from a local agent, complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and can help protect your family.
Learning about specific coverages of your auto insurance policy helps when choosing the right coverages at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and reading a policy is terribly boring. Below you’ll find the usual coverages found on the average auto insurance policy.
This protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Buick Regal.
Since many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Frequently the UM/UIM limits do not exceed the liability coverage limits.
Liability insurance can cover damages or injuries you inflict on other’s property or people in an accident. It protects you against other people’s claims. It does not cover damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have limits of 50/100/50 which means $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability coverage protects against things such as legal defense fees, structural damage, repair bills for other people’s vehicles and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.
Coverage for medical payments and/or PIP provide coverage for immediate expenses like surgery, hospital visits, ambulance fees and doctor visits. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants and also covers getting struck while a pedestrian. PIP is not universally available and may carry a deductible
Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things such as a broken windshield, damage from flooding, rock chips in glass, damage from getting keyed and falling objects. The maximum payout a auto insurance company will pay at claim time is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims like driving through your garage door, crashing into a ditch, crashing into a building 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 bump up the deductible in order to get cheaper collision rates.
We just covered a lot of ways to get a better price on 2014 Buick Regal insurance. The key concept to understand is the more price quotes you have, the higher the chance of saving money. You may be surprised to find that the best prices are with some of the lesser-known companies. Regional companies may only write in your state and offer lower rates compared to the large companies like State Farm, GEICO and Nationwide.
As you prepare to switch companies, you should never reduce coverage to reduce premium. In too many instances, an insured dropped uninsured motorist or liability limits only to discover later that it was a big error on their part. The proper strategy is to buy a smart amount of coverage at an affordable rate while still protecting your assets.
Additional detailed information can be read at these sites: