Finding affordable insurance coverage is always a challenge for consumers new to shopping for insurance online. Consumers have so many companies to choose from that it can easily become a real challenge to find lower rates.
Auto insurance companies don’t necessarily list every available discount in a way that’s easy to find, so we took the time to find some of the best known and the harder-to-find discounts you could be receiving.
As a disclaimer on discounts, most discount credits are not given to the entire policy premium. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So even though it sounds like all the discounts add up to a free policy, you won’t be that lucky.
For a list of insurers offering insurance coverage discounts, click here.
An important part of buying insurance is that you know the factors that come into play when calculating insurance coverage rates. Understanding what influences your rates empowers consumers to make smart changes that will entitle you to big savings.
When choosing the best auto insurance coverage, there really is not a single plan that fits everyone. Each situation is unique.
Here are some questions about coverages that can help discover whether you would benefit from an agent’s advice.
If you don’t know the answers to these questions, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form.
Companies like Allstate and Progressive consistently run television and radio advertisements. All the ads make an identical promise that you can save if you change your coverage to them. How does each company claim to save you money? This is how they do it.
All companies have a certain “appetite” for the type of customer they prefer to insure. A good example of a desirable insured might be between the ages of 30 and 50, has no driving citations, and has a short commute. Any new insured who fits that profile will get very good rates and is almost guaranteed to pay quite a bit less when switching companies.
Potential insureds who don’t measure up to the “perfect” profile will be quoted a more expensive rate and this can result in business not being written. The ad wording is “drivers who switch” but not “drivers who get quotes” save that much money. That’s why insurance companies can advertise the way they do. This emphasizes why it is so important to get a wide range of price quotes. It is impossible to predict which auto insurance company will provide you with the cheapest GMC Terrain insurance rates.
Learning about specific coverages of your auto insurance policy helps when choosing the best coverages and proper limits and deductibles. Policy terminology can be impossible to understand and reading a policy is terribly boring.
Medical expense insurance
Med pay and PIP coverage provide coverage for bills for prosthetic devices, ambulance fees, doctor visits and EMT expenses. They can be used in conjunction with a health insurance program or if you lack health insurance entirely. Coverage applies to you and your occupants in addition to if you are hit as a while walking down the street. PIP is only offered in select states and may carry a deductible
Liability coverages
This can cover damage that occurs to people or other property by causing an accident. It protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property.
Liability coverage protects against things like medical expenses, medical services, court costs and loss of income. How much liability coverage do you need? That is your choice, but buy as high a limit as you can afford.
Comprehensive (Other than Collision)
This coverage 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 coverage pays for things like rock chips in glass, damage from flooding, damage from getting keyed and vandalism. The maximum amount a auto insurance company will pay at claim time is the cash value of the vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Collision coverage protection
This coverage pays for damage to your Terrain from colliding with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against things like scraping a guard rail, colliding with a tree, hitting a parking meter, crashing into a ditch and driving through your garage door. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to bring the cost down.
Protection from uninsured/underinsured drivers
This provides protection from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your GMC Terrain.
Since a lot of drivers carry very low liability coverage limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is important protection for you and your family.
Throughout this article, we presented many ways to get a better price on 2010 GMC Terrain insurance. The key concept to understand is the more rate comparisons you have, the better your chances of lowering your rates. Consumers could even find that the lowest rates come from some of the lesser-known companies.
Discount insurance is available on the web as well as from independent agents, and you should be comparing both in order to have the best chance of saving money. Some insurance providers don’t offer online price quotes and these small insurance companies work with independent agents.
As you shop your coverage around, don’t be tempted to buy less coverage just to save a little money. Too many times, an insured dropped comprehensive coverage or liability limits and found out when filing a claim that saving that couple of dollars actually costed them tens of thousands. Your focus should be to find the BEST coverage at an affordable rate while not skimping on critical coverages.