2003 Mitsubishi Lancer Evolution Insurance Cost – 9 Savings Tips

Did you fall for a flashy sales pitch and buy an overpriced auto insurance policy? Trust us when we tell you there are many consumers feeling the pinch from expensive auto insurance. Big-name insurance companies like Progressive, Geico and Farmers Insurance all claim big savings with ads and it is difficult to ignore the flashy ads and effectively compare rates to find the best deal.

If you are insured now or are shopping for new coverage, you can learn to get lower rates and possibly find even better coverage. Finding affordable coverage is not rocket science. Consumers just need to know how to compare prices online.

Discounts to lower 2003 Mitsubishi Lancer Evolution insurance rates

The price of auto insurance can be rather high, but companies offer discounts to reduce the price significantly. A few discounts will automatically apply at the time you complete a quote, but some must be requested specifically in order for you to get them. If they aren’t giving you every credit possible, you’re just leaving money on the table.

  • Life Insurance Discount – Select insurance companies reward you with a break if you buy life insurance from them.
  • One Accident Forgiven – Certain companies permit an accident before raising your premiums so long as you haven’t had any claims for a certain period of time.
  • Safe Driver Discount – Insureds without accidents may receive a discount up to 45% less on Lancer Evolution coverage than their less cautious counterparts.
  • No Claims – Good drivers with no accidents pay less as compared to accident-prone drivers.
  • Passive Restraints and Air Bags – Vehicles with factory air bags may earn rate discounts of 20% or more.
  • Save with a New Car – Putting insurance coverage on a new car can save up to 30% compared to insuring an older model.
  • Multi-policy Discount – If you have multiple policies with the same insurance company you may save up to 20% off your total premium.
  • Payment Method – If paying your policy premium upfront rather than paying monthly you could save up to 5%.
  • Multi-car Discount – Buying insurance for more than one vehicle on one policy could earn a price break for each car.

As a disclaimer on discounts, some credits don’t apply to the entire policy premium. A few only apply to the price of certain insurance coverages like comprehensive or collision. So even though it sounds like you would end up receiving a 100% discount, you’re out of luck. Any amount of discount will bring down the amount you have to pay.

Insurance companies that possibly offer some of the above discounts may include but are not limited to:

Check with each insurance company how you can save money. Some discounts might not apply in your area.

Tailor your coverage to you

When it comes to buying the best car insurance coverage, there is no single plan that fits everyone. Every situation is different and a cookie cutter policy won’t apply. For instance, these questions can help discover if you may require specific advice.

  • What if I total my 2003 Mitsubishi Lancer Evolution and owe more than it’s worth?
  • Does liability extend to a camper or trailer?
  • When can I cancel my policy?
  • Can my teen drive my company car?
  • Do I need rental car coverage?
  • When should I drop full coverage on my 2003 Mitsubishi Lancer Evolution?
  • Should I rate my 2003 Mitsubishi Lancer Evolution as pleasure use or commute?
  • Do I have coverage for damage caused while driving under the influence?

If you don’t know the answers to these questions, you may need to chat with a licensed agent. To find lower rates from a local agent, simply complete this short form or you can also visit this page to select a carrier It only takes a few minutes and can help protect your family.

Can switching companies really save?

Consumers get pounded daily by advertisements for car insurance savings from companies such as 21st Century, Allstate and State Farm. They all say the same thing that you can save after switching your policy.

How do they all claim to save you money?

All the different companies are able to cherry pick for the driver that makes them money. For instance, a desirable insured could be between the ages of 40 and 55, owns a home, and drives less than 10,000 miles a year. Any new insured that hits that “sweet spot” will get very good rates and therefore will save a lot of money.

Consumers who fall outside the requirements will have to pay higher premiums which usually ends up with the driver buying from a lower-cost company. The ad wording is “people who switch” not “everyone that quotes” save that kind of money. That is how insurance companies can confidently make those claims.

Because of the profiling, you absolutely need to get as many quotes as possible. You cannot predict the company that will fit your personal profile best.

Car insurance coverage considerations

Understanding the coverages of your car insurance policy aids in choosing appropriate coverage and the correct deductibles and limits. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are the normal coverages found on most car insurance policies.

Comprehensive insurance

This pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims such as fire damage, hitting a deer, vandalism and damage from a tornado or hurricane. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.

Collision protection

This coverage covers damage to your Lancer Evolution resulting from colliding with an object or car. You first must pay a deductible and then insurance will cover the remainder.

Collision can pay for things such as damaging your car on a curb, sideswiping another vehicle and backing into a parked car. This coverage can be expensive, so you might think about dropping it from vehicles that are older. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance kick in for short-term medical expenses such as prosthetic devices, rehabilitation expenses, funeral costs and X-ray expenses. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and will also cover any family member struck as a pedestrian. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your Mitsubishi Lancer Evolution.

Since many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time the UM/UIM limits are similar to your liability insurance amounts.

Auto liability

Liability insurance can cover damage or injury you incur to other people or property that is your fault. It protects you against claims from other people. Liability doesn’t cover damage to your own property or vehicle.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 50/100/50 that means you have a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and property damage coverage for $50,000. Alternatively, you may have a combined limit that pays claims from the same limit with no separate limits for injury or property damage.

Liability insurance covers claims like emergency aid, medical expenses and repair costs for stationary objects. The amount of liability coverage you purchase is a decision to put some thought into, but you should buy as large an amount as possible.

Be a smart shopper

Throughout this article, we presented a lot of ways to lower your 2003 Mitsubishi Lancer Evolution insurance rates. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding lower rates. Consumers may even find the most savings is with some of the lesser-known companies. These companies often have lower prices on specific markets than their larger competitors like State Farm or Progressive.

As you go through the steps to switch your coverage, it’s not a good idea to sacrifice coverage to reduce premiums. There have been many cases where someone sacrificed liability limits or collision coverage to discover at claim time they didn’t purchase enough coverage. Your focus should be to buy enough coverage at the best price while not skimping on critical coverages.

Cost effective insurance can be sourced both online and with local insurance agents, and you should be comparing both to have the best chance of lowering rates. There are still a few companies who do not offer online quoting and these smaller companies work with independent agents.

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