Tired of robbing Peter to pay Paul each month for car insurance? You are no different than millions of other consumers.
There are many car insurance companies to buy insurance from, and although it’s nice to have a selection, lots of choices makes it harder to find the best rates for your vehicles.
All major auto insurance companies such as Geico, State Farm and Progressive allow you to get prices online. The process is fairly straightforward as you just type in the coverage amounts you desire as detailed in the form. Once entered, their rating system automatically retrieves information on your driving record and credit history and provides a quote based on these factors. Being able to quote online makes comparing rates easy, but the time it takes to visit several different sites and fill out multiple forms can be a bit repetitive. But it is imperative to get many rate quotes if you want to find the best price on auto insurance.
A quicker way to lower your auto insurance bill uses one form to return rates from many companies. It’s a real time-saver, eliminates repetitive work, and makes quoting online a lot less work. After sending your information, it gets priced and you can choose any one of the resulting price quotes. If the quotes result in lower rates, you simply finish the application and purchase coverage. The entire process just takes a couple of minutes and you will find out if you’re overpaying now.
If you want to find out what other companies charge, click here and enter your information. If you have a policy now, it’s recommended you copy the limits and deductibles exactly as shown on your declarations page. Doing this assures you’re receiving a rate comparison using the same coverage and limits.
Auto insurance companies do not list every discount in a way that’s easy to find, so we took the time to find some of the more common and the more hidden discounts you could be receiving.
Drivers should understand that most discount credits are not given the the whole policy. Some only reduce individual premiums such as comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, car insurance companies aren’t that generous.
Car insurance companies that possibly offer these money-saving discounts may include but are not limited to:
Double check with each company which discounts they offer. Discounts might not be offered in your state.
Consumers need to have an understanding of the rating factors that help determine insurance coverage rates. Having a good understanding of what impacts premium levels enables informed choices that can help you get much lower annual insurance costs.
The following are some of the items insurance coverage companies consider when setting your rates.
When buying the right insurance coverage for your personal vehicles, there really is no single plan that fits everyone. Everyone’s situation is unique so your insurance should reflect that For example, these questions may help highlight if your situation would benefit from professional advice.
If you don’t know the answers to these questions, you might consider talking to an agent. To find an agent in your area, fill out this quick form or click here for a list of insurance companies in your area.
Having a good grasp of auto insurance aids in choosing the best coverages and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and coverage can change by endorsement. Shown next are typical coverage types offered by auto insurance companies.
Uninsured Motorist or Underinsured Motorist insurance – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your 2014 Honda Odyssey.
Since a lot of drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Coverage for liability – Liability coverage can cover injuries or damage you cause to other people or property that is your fault. This coverage protects you from claims by other people. Liability doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see policy limits of 25/50/25 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property.
Liability insurance covers claims such as loss of income, medical expenses, legal defense fees and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but buy as large an amount as possible.
Insurance for medical payments – Coverage for medical payments and/or PIP provide coverage for expenses like nursing services, rehabilitation expenses, chiropractic care, ambulance fees and hospital visits. They are often used in conjunction with a health insurance plan or if you do not have health coverage. They cover both the driver and occupants as well as getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
Collision – Collision coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things such as crashing into a building, colliding with another moving vehicle, driving through your garage door, scraping a guard rail and hitting a parking meter. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.
Comprehensive coverage (or Other than Collision) – This coverage will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like damage from getting keyed, falling objects and vandalism. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.
Budget-conscious 2014 Honda Odyssey insurance can be sourced on the web in addition to many insurance agents, so you should compare both to get a complete price analysis. Some insurance providers do not provide online quoting and these regional insurance providers work with independent agents.
We just showed you quite a bit of information on how to compare insurance prices online. The key thing to remember is the more price quotes you have, the more likely it is that you will get a better rate. You may be surprised to find that the lowest premiums are with a company that doesn’t do a lot of advertising. Smaller companies often have lower prices on specific markets than the large multi-state companies such as Progressive or Geico.
As you restructure your insurance plan, never sacrifice coverage to reduce premiums. There have been many cases where consumers will sacrifice comprehensive coverage or liability limits to discover at claim time that it was a big mistake. Your aim should be to get the best coverage possible for the lowest price while still protecting your assets.
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