You have lots of choices when buying insurance for your vehicle. You can buy from a local agent or price shop online to compare rates from multiple companies. Finding cheaper auto insurance online is simple to do and at the same time you might just save a little.

Finding the best direct price on auto insurance is challenging if you have never used online quotes. But don't be discouraged because comparing prices is actually very simple. Finding lower is not rocket science. You just have to spend a little time to get quotes online with multiple companies. It is quite easy and can be accomplished by comparing rates here.

What influences your insurance rates?

Auto insurance rates on a 2003 can vary widely subject to many criteria. Taken into consideration are:

  • More performance equals higher cost
  • Any accidents you may have
  • Home/auto policy bundles save money
  • Pleasure use vs. commuting use
  • Special coverage such as replacement cost
  • Claims drive up premiums
  • No coverage lapses saves money
  • Whether you rent or own your home

A final factor which can affect is the model year. Newer models have a higher actual cash value in comparison to later models so the payout to repair can inflate annual premiums. Conversely, newer vehicles may have a trim level with safety features such as adaptive cruise control, blind-spot warning system, autonomous braking, and anti-lock brakes which can lower rates.

Liability coverage - 2003 liability coverage can cover damages or injuries you inflict on people or other property that is your fault. Liability coverage pays for things such as emergency aid, pain and suffering, and medical services. This coverage is usually fairly inexpensive so consider buying higher limits if possible.

Collision coverage - This covers damage to your resulting from a collision with an object or car. You will need to pay your deductible and the rest of the damage will be paid by collision coverage. Collision coverage for your 2003 can be pricey, so consider removing coverage from vehicles that are older. You can also bump up the deductible to bring the cost down.

Comprehensive coverage - This coverage pays for damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by your comprehensive insurance. The maximum payout you can receive from a comprehensive claim 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.

Uninsured/Underinsured Motorist coverage - This protects you and your vehicle's occupants from other drivers when they either are underinsured or have no liability coverage at all. Since a lot of drivers only carry the minimum required liability limits, it doesn't take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.

Medical payments coverage and PIP - Coverage for medical payments and/or PIP reimburse you for expenses (i.e. doctor visits, EMT expenses, and X-ray expenses). They are often used in conjunction with a health insurance policy or if you do not have health coverage. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay.