2008 Chrysler 300 Insurance Cost – 5 Tips for Cheapest Prices

Insurance shopping is not really something drivers like to do, but regardless it’s required when you drive.

These five discounts can lower your rates

Properly insuring your vehicles can get expensive, but discounts can save money and there are some available to help offset the cost. Some discounts apply automatically at the time of purchase, but a few must be asked for before you get the savings.

  • Sign Early and Save – Select companies give a discount for signing up before your current policy expires. It can save you around 10%.
  • Anti-theft System – Vehicles equipped with anti-theft or alarm systems prevent vehicle theft and qualify for as much as a 10% discount.
  • Use Seat Belts – Requiring all passengers to buckle their seat belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Drive Safe and Save – Drivers who don’t get into accidents can get discounts for up to 45% lower rates for 300 insurance than their less cautious counterparts.
  • Employee of Federal Government – Employees or retirees of the government could cut as much as 10% off for 300 insurance with certain companies.

As a disclaimer on discounts, most credits do not apply to the overall cost of the policy. Some only apply to the cost of specific coverages such as collision or personal injury protection. So despite the fact that it appears all those discounts means the company will pay you, companies don’t profit that way. Any qualifying discounts will bring down the cost of coverage.

To see a list of insurers who offer auto insurance discounts, follow this link.

Different people need different coverages

When buying adequate coverage, there isn’t really a “perfect” insurance plan. Every situation is different.

Here are some questions about coverages that can aid in determining whether or not you may require specific advice.

  • Should I carry comprehensive and collision coverage?
  • Can my babysitter drive my car?
  • I have a DUI can I still get coverage?
  • Will my insurance pay for OEM parts?
  • Is my trailer covered?
  • Do I have coverage if my license is suspended?
  • What can I do if my company won’t pay a claim?
  • Can I afford to buy a different vehicle if my 2008 Chrysler 300 is totaled?
  • Am I covered when driving someone else’s vehicle?

If you can’t answer these questions but you think they might apply to your situation, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Ads can be misleading

Insurance companies such as Geico, State Farm and Progressive regularly use ads in print and on television. They all seem to say the same thing of big savings if you move your policy. How can each company make the same claim? This is how they do it.

Different companies are able to cherry pick for the right customer that earns them a profit. For example, a preferred risk could be over the age of 40, has no driving citations, and drives less than 10,000 miles a year. Any driver who meets those qualifications will get very good rates and most likely will cut their rates substantially.

Drivers who don’t qualify for this ideal profile will be quoted a more expensive rate and this can result in the driver buying from a lower-cost company. The ads state “customers who switch” not “everybody who quotes” save that much. That’s the way companies can truthfully advertise the way they do.

This emphasizes why you need to get a wide range of price quotes. It’s just too difficult to predict which insurance companies will have the lowest Chrysler 300 insurance rates.

Auto insurance policy coverages for a 2008 Chrysler 300

Learning about specific coverages of your policy can help you determine the best coverages for your vehicles. Auto insurance terms can be ambiguous and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM)

This coverage provides protection from other motorists when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your 2008 Chrysler 300.

Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important. Normally these limits are set the same as your liablity limits.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses for ambulance fees, hospital visits, chiropractic care and pain medications. They are often used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to both the driver and occupants as well as any family member struck as a pedestrian. PIP is not available in all states and gives slightly broader coverage than med pay

Collision coverage protection

This covers damage to your 300 resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for claims such as hitting a parking meter, driving through your garage door, scraping a guard rail and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to raise the deductible to save money on collision insurance.

Comprehensive insurance

Comprehensive insurance coverage will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for claims like rock chips in glass, damage from getting keyed and damage from a tornado or hurricane. The highest amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.

Coverage for liability

This provides protection from damages or injuries you inflict on other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which limits claims to one amount with no separate limits for injury or property damage.

Liability coverage pays for things such as emergency aid, medical services and funeral expenses. How much liability should you purchase? That is your choice, but consider buying higher limits if possible.

In Summary

As you shop your coverage around, it’s very important that you do not skimp on critical coverages to save a buck or two. Too many times, an accident victim reduced liability coverage limits and learned later that it was a big error on their part. Your aim should be to find the BEST coverage at a price you can afford.

Cost effective 2008 Chrysler 300 insurance can be purchased from both online companies and also from your neighborhood agents, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who may not provide online quoting and these small, regional companies work with independent agents.

Throughout this article, we presented a lot of tips how to save on insurance. The key thing to remember is the more providers you compare, the higher the chance of saving money. Drivers may discover the best price on insurance is with an unexpected company.

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