Comparison shopping for car insurance is always challenging for people who are new to comparing rates online. People have so many options available that it can quickly become a ton of work to find the best price.
It’s important that you understand the rating factors that go into determining car insurance rates. When you know what positively or negatively controls the rates you pay allows you to make educated decisions that could result in much lower annual insurance costs.
Car insurance can cost a lot, but companies offer discounts to cut the cost considerably. Some discounts apply automatically when you purchase, but a few need to be specifically requested before being credited.
Consumers should know that some credits don’t apply to your bottom line cost. Some only reduce specific coverage prices like liability and collision coverage. Even though it may seem like it’s possible to get free car insurance, companies wouldn’t make money that way. But all discounts will cut the amount you have to pay.
A partial list of companies who might offer some of the above discounts are:
It’s a good idea to ask each company which discounts they offer. Discounts may not be available everywhere.
Companies like State Farm, Allstate and Geico continually stream ads on television and other media. All the ads have a common claim of big savings after switching to their company. But how can every company make the same claim?
Different companies have a preferred profile for the driver that is profitable for them. For example, a profitable customer might be over the age of 50, has no driving citations, and drives less than 7,500 miles a year. A driver who meets those qualifications will qualify for the lowest rates and as a result will probably save when switching.
Drivers who don’t meet this ideal profile must pay a higher premium which leads to business not being written. The ads say “customers who switch” but not “drivers who get quotes” save money. That’s the way companies can claim big savings.
This illustrates why drivers should quote coverage with many companies. It’s not possible to predict which company will have the lowest GMC Acadia insurance rates.
When it comes to buying coverage for your personal vehicles, there really is not a one size fits all plan. Everyone’s needs are different.
For example, these questions could help you determine if you would benefit from professional advice.
If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, simply complete this short form.
Having a good grasp of insurance can be of help when determining which coverages you need and the correct deductibles and limits. Insurance terms can be ambiguous and even agents have difficulty translating policy wording.
Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your 2014 GMC Acadia.
Because many people carry very low liability coverage limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Usually these limits are set the same as your liablity limits.
Collision coverage – Collision insurance pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage pays for claims such as sustaining damage from a pot hole, damaging your car on a curb and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to bump up the deductible to get cheaper collision coverage.
Coverage for medical payments – Med pay and PIP coverage kick in for short-term medical expenses for rehabilitation expenses, surgery and chiropractic care. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not available in all states but can be used in place of medical payments coverage
Liability auto insurance – This provides protection from damage that occurs to people or other property. It protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 100/300/100 that means you have a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which provides one coverage limit rather than limiting it on a per person basis.
Liability insurance covers things like attorney fees, legal defense fees and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but buy as large an amount as possible.
Comprehensive coverages – This pays for damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims like hitting a deer, theft, damage from a tornado or hurricane and a tree branch falling on your vehicle. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
As you shop your coverage around, it’s not a good idea to skimp on critical coverages to save a buck or two. In many cases, consumers will sacrifice liability coverage limits only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to find the BEST coverage at the best price.
You just learned some good ideas how you can lower your 2014 GMC Acadia insurance rates. The most important thing to understand is the more rate quotes you have, the higher your chance of finding lower rates. Drivers may discover the lowest priced auto insurance comes from a small mutual company.
Budget-conscious insurance is definitely available both online as well as from independent agents, so you should be comparing quotes from both to have the best chance of lowering rates. There are still a few companies who don’t offer you the ability to get quotes online and most of the time these small insurance companies sell through independent agents.
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