Did you come to the realization that you have an underperforming, overpriced auto insurance policy? Don’t sweat it because you’re not the only one.
Companies like GEICO, Farmers Insurance and State Farm continually bombard you with ads and it can be hard to ignore the flying pigs and cute green geckos and effectively compare rates to find the best deal.
Consumers need to shop coverage around at least once a year since prices go up and down regularly. Despite the fact that you may have had the lowest rate for Mazdaspeed Protege coverage at your last renewal the chances are good that you can find a lower premium rate today. Forget anything you know (or think you know) about auto insurance because I’m going to let you in on the secrets to the only way to properly buy coverages while reducing your premium.
If you currently have car insurance, you will be able to lower your premiums substantially using these techniques. Buying car insurance is not that difficult. But consumers must know the way insurance companies determine prices because it can help you find the best coverage.
Some insurance providers do not list every possible discount in an easy-to-find place, so below is a list both well-publicized as well as some of the hidden credits available to bring down your rates.
You should keep in mind that most discounts do not apply to all coverage premiums. Some only reduce the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears you would end up receiving a 100% discount, it doesn’t quite work that way.
Large insurance coverage companies and a selection of discounts are shown below.
Double check with all the companies which discounts can lower your rates. Discounts may not be available in your state. If you would like to choose from a list of companies with significant discounts, click this link.
Many factors are used when you quote your car insurance policy. Some are obvious such as your driving record, but other factors are more obscure like your continuous coverage or your financial responsibility.A large part of saving on car insurance is knowing the rating factors that play a part in calculating your premiums. If you have some idea of what impacts premium levels, this enables informed choices that could help you find cheaper rates.
Shown below are some of the most common factors used by insurance companies to determine rates.
When buying the best auto insurance coverage, there is no best way to insure your cars. Everyone’s situation is unique so this has to be addressed. For instance, these questions may help you determine whether you may require specific advice.
If you don’t know the answers to these questions but one or more may apply to you, then you may want to think about talking to an agent. To find an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.
Respected companies like 21st Century, Allstate and State Farm consistently run ads in print and on television. All the companies make the same claim that drivers will save a bundle if you get a free auto insurance quote and switch to their company. How does every auto insurance company sell you cheaper insurance coverage?
Many companies are able to cherry pick for a prospective insured that will add to their bottom line. One example of a profitable insured may need to be a married female, owns a home, and drives less than 5,000 miles a year. Any person that meets those criteria will get very good premium rates and as a result will probably save some money.
Insureds who cannot meet this stringent profile may be required to pay a higher premium and this results in the driver buying from a lower-cost company. If you listen closely, the ads state “people that switch” not “everybody who quotes” can save as much as they claim. That’s why insurance companies can confidently make those claims.
Because of these techniques, drivers should compare price quotes frequently. It’s just not possible to know which auto insurance company will have the lowest rates.
Learning about specific coverages of your policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Listed below are typical coverage types found on the average auto insurance policy.
Comprehensive protection – Comprehensive insurance pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for things like damage from getting keyed, a tree branch falling on your vehicle, damage from flooding and theft. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Uninsured or underinsured coverage – This coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. So UM/UIM coverage should not be overlooked. Normally the UM/UIM limits are set the same as your liablity limits.
Liability car insurance – Liability coverage provides protection from damage that occurs to people or other property by causing an accident. It protects you against other people’s claims. Liability doesn’t cover damage to your own property or vehicle.
It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Alternatively, you may have a combined limit which combines the three limits into one amount without having the split limit caps.
Liability coverage protects against things such as medical expenses, attorney fees, funeral expenses and emergency aid. How much liability should you purchase? That is a personal decision, but consider buying as high a limit as you can afford.
Medical expense coverage – Medical payments and Personal Injury Protection insurance pay for immediate expenses such as prosthetic devices, ambulance fees, EMT expenses and chiropractic care. They are often used to fill the gap from your health insurance policy or if you lack health insurance entirely. They cover both the driver and occupants and also covers if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay
Collision coverages – This coverage pays to fix your vehicle from damage caused by collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage pays for claims such as sideswiping another vehicle, colliding with a tree and rolling your car. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.
When you buy auto insurance online, you should never buy lower coverage limits just to save a few bucks. There are too many instances where an accident victim reduced liability coverage limits and found out when filing a claim that the savings was not a smart move. The ultimate goal is to buy the best coverage you can find at the lowest possible cost while still protecting your assets.
Affordable 2003 Mazda Mazdaspeed Protege insurance can be bought both online and from local agencies, and you should compare price quotes from both in order to have the best price selection to choose from. Some insurance companies do not offer the ability to get quotes online and most of the time these regional insurance providers only sell through local independent agents.