Are you a victim of an overpriced car insurance policy? Trust us, there are many consumers feeling the pinch from expensive car insurance. Consumers have many car insurance companies to purchase coverage from, and even though it’s nice to have a choice, so many choices can make it hard to find the best rates for your vehicles.
Smart consumers take time to price shop coverage yearly due to the fact that insurance rates change quite often. If you had the best rates for Five Hundred coverage two years ago you can probably find a better price now. Block out anything you think you know about car insurance because we’re going to demonstrate the tricks you need to know to buy cheaper car insurance.
It’s important that you understand some of the elements that go into determining the price you pay for car insurance. When you know what positively or negatively influences your rates helps enable you to make changes that may reward you with better car insurance rates.
Listed below are some of the items that factor into rates.
Car insurance companies don’t always advertise every discount in a way that’s easy to find, so here is a list some of the more common and the more hidden discounts you could be receiving. If you aren’t receiving every discount you qualify for, you are paying more than you should be.
As a disclaimer on discounts, most credits do not apply to your bottom line cost. A few only apply to individual premiums such as physical damage coverage or medical payments. So despite the fact that it appears all those discounts means the company will pay you, it just doesn’t work that way.
To see a list of insurers with the best insurance coverage discounts, follow this link.
When it comes to buying the right insurance coverage, there really is no best way to insure your cars. Everyone’s needs are different and your policy should reflect that. Here are some questions about coverages that may help you determine if your 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. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies. It is quick, free and may give you better protection.
Learning about specific coverages of your policy can be of help when determining which coverages you need for your vehicles. Policy terminology can be ambiguous and reading a policy is terribly boring. Listed below are the usual coverages found on the average insurance policy.
Coverage for medical payments and/or PIP provide coverage for immediate expenses for things like hospital visits, ambulance fees, prosthetic devices, rehabilitation expenses and X-ray expenses. They are often used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to getting struck while a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay
This covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against things like vandalism, falling objects, hail damage, fire damage and damage from a tornado or hurricane. The highest amount a insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Collision insurance covers damage to your Five Hundred resulting from a collision with an object or car. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims such as crashing into a ditch, scraping a guard rail, hitting a parking meter and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. It’s also possible to choose a higher deductible to bring the cost down.
This coverage provides protection from other drivers when they either have no liability insurance or not enough. Covered claims include injuries sustained by your vehicle’s occupants and also any damage incurred to your Ford Five Hundred.
Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked.
This coverage provides protection from damage or injury you incur to other’s property or people in an accident. This coverage protects you against other people’s claims, and does not provide coverage for your injuries or vehicle damage.
It consists of 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 100/300/100 which means a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery.
Liability coverage pays for claims like medical expenses, repair costs for stationary objects, attorney fees, emergency aid and repair bills for other people’s vehicles. How much liability should you purchase? That is your choice, but you should buy higher limits if possible.
While you’re price shopping online, make sure you don’t skimp on coverage in order to save money. Too many times, an insured dropped physical damage coverage only to regret at claim time they didn’t purchase enough coverage. Your goal should be to buy enough coverage for the lowest price while not skimping on critical coverages.
Budget-conscious 2014 Ford Five Hundred insurance can be purchased from both online companies in addition to many insurance agents, and you should be comparing both to get a complete price analysis. Some insurance providers do not provide online price quotes and most of the time these smaller companies sell through independent agents.