Are you sick and tired of robbing Peter to pay Paul to pay your car insurance bill each month? You are no different than most other car owners. Insurance companies such as State Farm and Geico all promote huge savings with fancy advertisements and consumers find it hard to ignore the propoganda and take the time to shop coverage around.
If you are insured now or are just looking to switch companies, you can use these techniques to get lower rates while maintaining coverages. Choosing the best insurance company for you is quite easy. Drivers only need an understanding of the proper methods to compare company rates on the web.
Companies don’t always publicize 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 ways to save on insurance coverage. If you aren’t receiving every discount you qualify for, you’re just leaving money on the table.
As a disclaimer on discounts, some credits don’t apply to your bottom line cost. Most only reduce individual premiums such as collision or personal injury protection. So when the math indicates adding up those discounts means a free policy, companies don’t profit that way.
Insurance companies who might offer these money-saving discounts are:
Check with every prospective company what discounts are available to you. Savings may not be available in your state.
Consumers need to have an understanding of the different types of things that come into play when calculating the rates you pay for auto insurance. Having a good understanding of what impacts premium levels helps enable you to make changes that will entitle you to better auto insurance rates.
The list below includes a few of the “ingredients” that factor into prices.
When it comes to choosing coverage for your vehicles, there isn’t really a single plan that fits everyone. Each situation is unique so your insurance should reflect that These are some specific questions might help in determining whether your personal situation might need professional guidance.
If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies. It’s fast, free and can provide invaluable advice.
Consumers can’t get away from ads for cheaper car insurance from the likes of 21st Century, Allstate and State Farm. They all say the same thing about savings if you switch your coverage to them.
How does each company make almost identical claims? It’s all in the numbers.
Different companies have a certain “appetite” for the type of driver they prefer to insure. An example of a driver they prefer might be between 30 and 50, owns a home, and has a short commute. A customer getting a price quote who fits that profile will qualify for the lowest rates and is almost guaranteed to pay quite a bit less when switching companies.
Consumers who don’t meet the requirements will be quoted higher rates and ends up with the customer not buying. The ad wording is “customers that switch” not “everyone that quotes” save that kind of money. That is how companies can truthfully advertise the savings. This emphasizes why you absolutely need to compare as many rates as you can. It’s impossible to know the company that will give you the biggest savings on Pontiac Grand Prix insurance.
Knowing the specifics of a insurance policy aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be ambiguous and reading a policy is terribly boring. Listed below are typical coverages found on the average insurance policy.
Coverage for medical payments
Coverage for medical payments and/or PIP pay for short-term medical expenses for X-ray expenses, ambulance fees, pain medications and rehabilitation expenses. They are used in conjunction with a health insurance plan or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage
Uninsured and underinsured coverage
Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your 2004 Pontiac Grand Prix.
Because many people 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 important protection for you and your family.
Collision protection
This coverage will pay to fix damage to your Grand Prix resulting from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things like damaging your car on a curb, colliding with a tree, sustaining damage from a pot hole, hitting a parking meter and crashing into a ditch. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Another option is to bump up the deductible to save money on collision insurance.
Liability auto insurance
Liability coverage will cover injuries or damage you cause to a person or their property by causing an accident. This insurance protects YOU against claims from other people. Liability doesn’t cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 25/50/25 that means you have a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.
Liability can pay for claims such as repair costs for stationary objects, legal defense fees and medical expenses. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.
Comprehensive coverages
This pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims such as a tree branch falling on your vehicle, hitting a bird and a broken windshield. The maximum payout your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
We’ve covered a lot of tips how to lower your 2004 Pontiac Grand Prix insurance rates. It’s most important to understand that the more you quote, the more likely it is that you will get a better rate. Consumers could even find that the lowest rates come from some of the smallest insurance companies. These smaller insurers may often insure only within specific states and give getter rates as compared to the big name companies such as Allstate and Progressive.
Low-cost insurance can be purchased on the web as well as from independent agents, so you should compare both in order to have the best price selection to choose from. Some insurance companies don’t offer the ability to get a quote online and many times these regional insurance providers only sell through independent insurance agents.
As you prepare to switch companies, it’s a bad idea to reduce needed coverages to save money. In too many instances, an insured dropped collision coverage only to regret at claim time that the few dollars in savings costed them thousands. Your strategy should be to buy a smart amount of coverage at the best price while not skimping on critical coverages.