You have many choices when buying insurance for your vehicle. You can buy from a local agent or go online to compare insurance costs of a lot of car insurance companies. Finding cheaper car insurance through online companies can be fast and easy, in addition you might just save a little.
If you are a novice to online car insurance shopping, you may be confused by the hoards of online car insurance companies and websites vying for your business. When shopping for car insurance there are multiple ways to compare rate quotes from local car insurance companies. The recommended way to find the cheapest is to perform an online rate comparison. This is very easy and can be done by getting a quick quote here.
Auto insurance rates for your 2003 can vary widely depending on several factors. A few of these criteria are:
A final factor which can affect is the model year. Models that are a few years old have a much lower replacement value in comparison to older models so the payout to repair may result in lower rates. On the flip side, new models may have a trim level with safety features like adaptive cruise control, pedestrian detection, and lane departure warning system which can help offset higher rates.
Coverage for liability - This coverage provides protection from injuries or damage you cause to other's property or people that is your fault. Liability coverage pays for claims such as funeral expenses, loss of income, and emergency aid. Coverage is generally pretty cheap so consider buying higher limits if possible.
Collision coverage - This pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to get cheaper .
Comprehensive coverage (or Other than Collision) - Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by your comprehensive insurance. The maximum payout a car insurance company will pay at claim time is the ACV or actual cash value, so if your deductible is as high as the vehicle's value consider removing comprehensive coverage.
Uninsured/Underinsured Motorist coverage - This coverage provides protection when other motorists either have no liability insurance or not enough. Since a lot of drivers carry very low liability coverage limits, it doesn't take a major accident to exceed their coverage limits. That's why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
Insurance for medical payments - Medical payments and Personal Injury Protection insurance pay for bills (i.e. ambulance fees, surgery, and doctor visits). They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Personal Injury Protection is not universally available and may carry a deductible.