Tired of trying to scrape together enough money to insure your Ford every month? You are no different than the majority of other car owners. Companies like GEICO and Progressive continually bombard you with ad campaigns and consumers find it hard to avoid their marketing magic and take the time to shop coverage around.
Consumers should take time to compare prices on a regular basis since rates trend upward over time. Despite the fact that you may have had the lowest rates for Taurus coverage a couple years back you can probably find a lower rate today. There is a lot of wrong information about insurance on the internet, so I’m going to show you some of the best ways to put money back in your pocket.
Finding a better price on car insurance isn’t really that difficult. Drivers just need to take a couple of minutes comparing rates online with multiple companies. This is very easy and can be done using a couple different methods.
It’s your choice how you get your quotes, but double check that you are using identical deductibles and coverage limits with each company. If you compare different liability limits it will be very difficult to determine which rate is truly the best.
Insurance can be prohibitively expensive, but you can get discounts that many people don’t even know exist. Larger premium reductions will be automatically applied at the time of purchase, but lesser-known reductions have to be manually applied before they will apply. If you don’t get every credit you deserve, you’re paying more than you need to.
Consumers should know that many deductions do not apply to the entire cost. Some only apply to the cost of specific coverages such as comp or med pay. So even though it sounds like adding up those discounts means a free policy, you won’t be that lucky. But any discount will reduce your overall premium however.
A partial list of companies that may offer these benefits are:
Double check with all companies you are considering what discounts are available to you. Some discounts might not apply in every state.
When choosing coverage, there is no one size fits all plan. Each situation is unique and a cookie cutter policy won’t apply. Here are some questions about coverages that can aid in determining whether your personal situation would benefit from professional advice.
If you’re not sure about those questions but a few of them apply, then you may want to think about talking to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and you can get the answers you need.
Learning about specific coverages of your car insurance policy can help you determine which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. Listed below are the usual coverages offered by car insurance companies.
Liability car insurance
This can cover injuries or damage you cause to people or other property. This coverage protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 50/100/50 that translate to $50,000 bodily injury coverage, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see a combined limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability coverage protects against claims such as pain and suffering, legal defense fees, funeral expenses and loss of income. How much liability should you purchase? That is up to you, but buy as much as you can afford.
This coverage pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims like vandalism, rock chips in glass and fire damage. The highest amount you can receive from a comprehensive claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Uninsured/Underinsured Motorist (UM/UIM)
Your UM/UIM coverage gives you protection when the “other guys” do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Ford Taurus.
Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is a good idea. Most of the time these coverages are set the same as your liablity limits.
Med pay and Personal Injury Protection (PIP)
Coverage for medical payments and/or PIP pay for bills for things like pain medications, prosthetic devices, ambulance fees and doctor visits. The coverages can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage
Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision insurance covers things like sustaining damage from a pot hole, hitting a mailbox and colliding with another moving vehicle. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. You can also increase the deductible to bring the cost down.