Lower Your 2010 Mitsubishi Lancer Insurance Cost

Want better insurance rates for your Mitsubishi Lancer? Having to pay for overpriced insurance can take a big chunk out of your bank account and put a big crunch on your finances. Comparison shopping is a smart way to help make ends meet. Having so many options when it comes to insurance, it’s nearly impossible to find the cheapest insurer.

It’s a great practice to check insurance prices periodically because prices are usually higher with each renewal. Just because you found the lowest price for Lancer coverage a few years ago other companies may now be cheaper. There is a lot of bad information regarding insurance on the internet, so I’m going to show you some solid techniques on how to reduce your insurance bill.

Pricing the best insurance coverage is not that difficult. If you have a policy now or need a new policy, you can use this information to cut your premiums while maintaining coverages. Drivers only need to know how to get comparison quotes online.

Why your Mitsubishi Lancer might be costing you more

Smart consumers have a good feel for some of the elements that come into play when calculating your insurance coverage rates. Knowing what determines base rates allows you to make educated decisions that may reward you with better insurance coverage rates.

  • Car features impact rates – Choosing a vehicle with anti-theft technology or alarm system can save you a little every year. Theft prevention features like LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart auto theft.
  • How credit affects insurance coverage rates – A driver’s credit rating is a huge factor in determining what you pay for insurance coverage. Drivers who have good credit tend to be better drivers and file fewer claims as compared to drivers with poor credit. So if your credit can use some improvement, you could pay less to insure your 2010 Mitsubishi Lancer by improving your credit score.
  • Don’t get talked into coverage you don’t need – There are a lot of extra coverages that can waste your money when buying insurance coverage. Insurance for roadside assistance, accident forgiveness and motor club memberships are examples of these. These coverages may sound good initially, but if you don’t need them eliminate the coverages to reduce your premium.
  • Liability insurance protects assets – Liability coverage is the protection if a court rules you are at fault for damages caused by your negligence. Liability insurance provides for a legal defense starting from day one. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so drivers should carry high limits.
  • Do you know your deductibles? – Your deductibles define the amount you are willing to pay out-of-pocket in the event of a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some instances where coverage would apply are running into the backend of another car, damage from fire, and windstorm damage. The more money you are required to pay out-of-pocket, the bigger discount you will receive for Lancer coverage.
  • The more you drive the more you pay – Driving more miles each year the higher your rate. The majority of insurers price each vehicle’s coverage based on their usage. Cars that are left in the garage receive lower rates as compared to vehicles used primarily for driving to work. Verify your insurance coverage coverage shows the proper vehicle usage, because improper ratings can cost you money. If your policy improperly rates your Lancer can cost quite a bit.
  • Rural vs Urban Areas – Being located in small towns and rural areas has it’s advantages when insuring your vehicles. Less people living in that area means reduced accidents as well as less vandalism and auto theft. Drivers who live in large cities regularly have congested traffic and a longer drive to work. Higher commute times means higher likelihood of an accident.
  • Safer cars cost less to insure – Cars with high safety ratings tend to have better insurance rates. Safer cars result in less severe injuries and better occupant protection translates into savings for insurance companies and more competitive rates for policyholders. If your Mitsubishi Lancer has ratings of a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website it is probably cheaper to insure.

Take discounts and save

The cost of insuring your cars can be expensive, but there are discounts available that can drop the cost substantially. Most are applied when you complete an application, but a few must be inquired about before they will apply. If you don’t get every credit possible, you are throwing money away.

  • Anti-theft Discount – Anti-theft and alarm systems are stolen less frequently and qualify for as much as a 10% discount.
  • Memberships – Affiliation with a civic or occupational organization is a good way to get lower rates on auto insurance for Lancer coverage.
  • New Car Discount – Adding a new car to your policy can save up to 30% compared to insuring an older model.
  • Own a Home – Owning a home may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
  • Seat Belt Usage – Drivers who require all occupants to wear their seat belts can save 10% or more on the medical payments or PIP coverage costs.
  • Pay Upfront and Save – If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
  • No Charge for an Accident – Some insurance companies will forgive one accident without raising rates if you are claim-free for a particular time prior to the accident.

A little note about advertised discounts, most of the big mark downs will not be given the the whole policy. Some only reduce specific coverage prices like liability, collision or medical payments. Even though it may seem like it’s possible to get free car insurance, companies don’t profit that way. But any discount will bring down the amount you have to pay.

For a list of insurance companies offering auto insurance discounts, follow this link.

Save $416 a year? Really?

Consumers can’t get away from ads that promise big savings from the likes of State Farm, Geico and Progressive. All the companies say the same thing of big savings if you change your coverage to them.

How do they all claim to save you money? This is how they do it.

All companies have a certain “appetite” for the driver that earns them a profit. For instance, a preferred risk could be between the ages of 40 and 55, is a homeowner, and has great credit. A customer who fits that profile gets the lowest rates and therefore will save quite a bit of money when switching.

Potential customers who are not a match for these standards will have to pay a higher premium which usually ends up with business going elsewhere. The ad wording is “people who switch” not “people who quote” save money. This is how insurance companies can confidently claim big savings.

Because of the profiling, drivers must get quotes from several different companies. It’s not possible to predict which company will fit your personal profile best.

Which policy gives me the best coverage?

When buying the best insurance coverage coverage for your personal vehicles, there really is not a one size fits all plan. Everyone’s situation is unique and a cookie cutter policy won’t apply. For example, these questions may help you determine whether your personal situation might need an agent’s assistance.

  • Should I buy full coverage?
  • What should my uninsured motorist coverage limits be in my state?
  • Who is covered by my policy?
  • Is a new car covered when I drive it off the dealer lot?
  • Do I need replacement cost coverage on my 2010 Mitsubishi Lancer?
  • Does my liability insurance cover pulling a trailer or camper?
  • Am I covered when using my vehicle for business?

If you don’t know the answers to these questions then you might want to talk to an insurance agent. To find an agent in your area, simply complete this short form or go to this page to view a list of companies. It’s fast, doesn’t cost anything and can provide invaluable advice.

Car insurance coverages for a Mitsubishi Lancer

Having a good grasp of insurance aids in choosing appropriate coverage for your vehicles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Shown next are typical coverage types found on most insurance policies.

Collision protection

Collision coverage covers damage to your Lancer resulting from colliding with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage pays for things like backing into a parked car, hitting a parking meter and damaging your car on a curb. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to get cheaper collision coverage.

Uninsured or underinsured coverage

This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Mitsubishi Lancer.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea. Frequently the UM/UIM limits are similar to your liability insurance amounts.

Medical expense coverage

Medical payments and Personal Injury Protection insurance pay for immediate expenses such as prosthetic devices, X-ray expenses, nursing services and hospital visits. They are often 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. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay

Auto liability insurance

Liability insurance will cover damage that occurs to other’s property or people that is your fault. It protects you against other people’s claims. 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. You might see limits of 100/300/100 that means you have a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and property damage coverage for $100,000. Alternatively, you may have one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.

Liability coverage pays for things like attorney fees, repair bills for other people’s vehicles and loss of income. The amount of liability coverage you purchase is a decision to put some thought into, but buy as large an amount as possible.

Comprehensive protection

This pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims like damage from a tornado or hurricane, hitting a bird, a tree branch falling on your vehicle, a broken windshield and damage from getting keyed. The highest amount you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.

In any little way, save everyday

Cheaper 2010 Mitsubishi Lancer insurance is attainable on the web as well as from independent agents, and you should compare price quotes from both so you have a total pricing picture. A few companies don’t offer online quoting and these small insurance companies work with independent agents.

We just presented a lot of information how to reduce insurance prices online. It’s most important to understand that the more providers you compare, the better likelihood of reducing your rate. Consumers may even find the lowest priced insurance comes from an unexpected company. These companies can often insure niche markets at a lower cost than the large multi-state companies such as Geico and State Farm.

More information is available at the links below