Did you fall for a flashy sales pitch and buy an underperforming, overpriced car insurance policy? Trust us, you are not the only one feeling buyer’s remorse.
Drivers have so many car insurance companies to insure vehicles with, and even though it’s nice to have a choice, so many choices can make it hard to compare rates and cut insurance costs.
It’s a good habit to take a look at other company’s rates at least once a year because insurance rates are variable and change quite frequently. Despite the fact that you may have had the lowest rates for Navigator L insurance a couple years back the chances are good that you can find a lower rate today. So just forget anything you know (or think you know) about car insurance because it’s time to teach you the fastest way to remove unneeded coverages and save money.
Companies that sell car insurance don’t always list all their discounts very well, so here is a list some of the more common and the more hidden insurance savings.
Keep in mind that many deductions do not apply to the entire policy premium. Most only reduce the cost of specific coverages such as comp or med pay. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way.
For a list of providers offering insurance discounts, click here.
An important part of buying insurance is that you know some of the elements that play a part in calculating your car insurance rates. Knowing what impacts premium levels helps enable you to make changes that can help you get much lower annual insurance costs.
Shown below are some of the factors that factor into your rates.
When buying the right insurance coverage, there really is no single plan that fits everyone. Coverage needs to be tailored to your specific needs so your insurance should reflect that For instance, these questions might point out whether you would benefit from an agent’s advice.
If it’s difficult to answer those questions but one or more may apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area.
Having a good grasp of insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The coverage terms in a policy can be confusing and nobody wants to actually read their policy. Shown next are typical coverage types available from insurance companies.
This will pay to fix damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for claims like a tree branch falling on your vehicle, vandalism, fire damage, damage from getting keyed and damage from a tornado or hurricane. The highest amount a insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
This coverage provides protection from damages or injuries you inflict on other people or property. This coverage protects you from legal claims by others, and does not provide coverage for your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery.
Liability insurance covers things such as emergency aid, pain and suffering, medical expenses and repair costs for stationary objects. How much liability should you purchase? That is your choice, but you should buy higher limits if possible.
This covers damage to your Navigator L caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for things like crashing into a building, sideswiping another vehicle, scraping a guard rail and rolling your car. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. It’s also possible to increase the deductible to bring the cost down.
Your UM/UIM coverage provides protection when other motorists either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is very important.
Med pay and PIP coverage provide coverage for immediate expenses like hospital visits, doctor visits and ambulance fees. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not universally available but can be used in place of medical payments coverage
We just covered a lot of techniques to get a better price on 2007 Lincoln Navigator L insurance. The key thing to remember is the more times you quote, the higher the chance of saving money. Drivers may discover the biggest savings come from a smaller regional carrier. These companies often have lower prices on specific markets compared to the large companies like State Farm, Geico and Nationwide.
Low-cost insurance is attainable online and with local insurance agents, so compare prices from both to get a complete price analysis. A few companies do not offer you the ability to get quotes online and most of the time these regional insurance providers sell through independent agents.
Additional insurance information can be found on the following sites: