2014 Mitsubishi Lancer Evolution Insurance Cost

Searching for lower auto insurance rates for your Mitsubishi Lancer Evolution? Did you fall for a flashy sales pitch and buy high-priced auto insurance? Trust us, you are not the only one feeling buyer’s remorse.

Consumers have many car insurance companies to purchase coverage from, and though it is a good thing to be able to choose, so many choices can make it hard to compare rates and cut insurance costs.

Buying the best car insurance is simple if you know the tricks. In a nutshell, anyone who buys car insurance will more than likely be able to find lower rates. But vehicle owners can benefit by having an understanding of the way companies market insurance on the web and apply this information to your search.

These discounts can slash auto insurance rates

The price of auto insurance can be rather high, but you can get discounts to reduce the price significantly. A few discounts will automatically apply when you quote, but lesser-known reductions have to be asked about in order for you to get them.

  • Air Bag Discount – Vehicles equipped with air bags or motorized seat belts can qualify for discounts of more than 20%.
  • 55 and Retired – Older drivers may qualify for a small decrease in premiums on Lancer Evolution insurance.
  • Anti-theft System – Cars that have factory anti-theft systems are stolen less frequently and qualify for as much as a 10% discount.
  • No Charge for an Accident – A handful of insurance companies allow you one accident before raising your premiums if your claims history is clear for a particular time prior to the accident.
  • Accident Free – Claim-free drivers can save substantially compared to frequent claim filers.

Keep in mind that most discount credits are not given the the whole policy. Most only apply to specific coverage prices like collision or personal injury protection. So despite the fact that it appears having all the discounts means you get insurance for free, it just doesn’t work that way. Any amount of discount will cut the amount you have to pay.

For a list of providers who offer auto insurance discounts, follow this link.

Auto Insurance Quote Comparison

There are several ways to compare rate quotes from different insurance companies. The easiest way to find the lowest 2014 Mitsubishi Lancer Evolution rates consists of obtaining rate quotes online. This can be accomplished in several different ways.

One of the simplest ways to find low rates is to use a rate comparison form like this one (opens in new window). This form keeps you from doing a different quote for each company. Just one form will return quotes from several companies.

A less efficient way to find lower rates is going to the website for each individual company to complete a price quote. For examples sake, we’ll assume you want to compare rates from Allstate, Safeco and Geico. To get rate quotes you would need to visit each site to enter your coverage information, which is why most consumers use the first method. To view a list of companies in your area, click here.

The least efficient way to compare rates is to drive around to and from local insurance agencies. Buying insurance online has reduced the need for local agents unless you want the trained guidance that only a license agent can provide. However, consumers can compare online quotes but buy from a local insurance agent.

It’s up to you which method you use, but make darn sure you compare exactly the same coverage limits and deductibles for every quote you compare. If you use different deductibles then you won’t be able to determine the best price for your Mitsubishi Lancer Evolution. Quoting even small variations in limits can make a big difference in price. And when price shopping your coverage, quoting more will enable you to find the best price.

Complexity of Mitsubishi Lancer Evolution insurance rates

An important part of buying insurance is that you know the factors that play a part in calculating your car insurance rates. Knowing what determines base rates helps enable you to make changes that may reward you with lower car insurance prices.

  • Extra coverages can waste money – There are a ton of additional coverages that you can get tricked into buying on your 2014 Lancer Evolution policy. Insurance for personal injury protection, accidental death and additional equipment coverage are examples of these. These coverages may sound good at first, but now you might not need them so eliminate the coverages to reduce your premium.
  • Big city or small town – Being located in a small town can save you money when it comes to car insurance. Lower population means reduced accidents and also fewer theft and vandalism claims. Drivers who live in large cities have to deal with traffic congestion and longer commutes to work. More time on the road translates into higher accident risk.
  • Proper usage rating affects rates – Driving more miles in a year the more you’ll pay to insure your vehicle. Most companies apply a rate based on how the vehicle is used. Vehicles left parked in the garage receive lower rates than vehicles that are driven to work every day. Make sure your car insurance coverage is showing the proper vehicle usage, because improper ratings can cost you money. Incorrect usage on your Lancer Evolution can result in significantly higher rates.
  • A lapse in coverage is a bad thing – Allowing your coverage to lapse is a quick way to pay more for car insurance. And not only will insurance be more expensive, but not being able to provide proof of insurance will get you a steep fine or even jail time.

When might I need the advice of an agent?

When choosing the best insurance coverage, there really is not a single plan that fits everyone. Everyone’s needs are different and your policy should reflect that. Here are some questions about coverages that could help you determine whether or not you could use an agent’s help.

  • Should I have a commercial auto policy?
  • Do I need special endorsements for business use of my vehicle?
  • What if I total my 2014 Mitsubishi Lancer Evolution and owe more than it’s worth?
  • Do I need PIP coverage since I have good health insurance?
  • What are the best liability limits?
  • Does my medical payments coverage pay my health insurance deductible?

If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.

The insurance bait and switch

Progressive, Geico, Allstate and State Farm regularly use ads on TV and radio. All the companies make an identical promise that you’ll save big if you move your policy. How do they all say the same thing? This is how they do it.

All the different companies have a certain “appetite” for the type of customer that earns them a profit. For instance, a driver they prefer could be between the ages of 30 and 50, has no tickets, and has a short commute. Any driver who matches those parameters is entitled to the best price and as a result will probably cut their rates substantially.

Potential customers who don’t meet these standards will have to pay higher premiums and this can result in business going elsewhere. The ads state “customers that switch” not “everyone that quotes” save that kind of money. This is how insurance companies can confidently claim big savings.

Because of the profiling, drivers should get quotes from several different companies. You cannot predict the company that will give you the biggest savings on Mitsubishi Lancer Evolution insurance.

Insurance specifics

Knowing the specifics of your policy helps when choosing the best coverages for your vehicles. The terms used in a policy can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverages found on most insurance policies.

Comprehensive insurance

Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like vandalism, fire damage, hail damage and damage from getting keyed. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.

Uninsured/Underinsured Motorist (UM/UIM)

Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your Mitsubishi Lancer Evolution.

Due to the fact that many drivers have only the minimum liability required by law, it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea. Usually your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Med pay and Personal Injury Protection (PIP)

Personal Injury Protection (PIP) and medical payments coverage reimburse you for bills for things like hospital visits, EMT expenses, rehabilitation expenses and X-ray expenses. They can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is only offered in select states and may carry a deductible

Collision protection

This covers damage to your Lancer Evolution resulting from colliding 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 damaging your car on a curb, colliding with another moving vehicle, driving through your garage door, hitting a mailbox and scraping a guard rail. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. It’s also possible to increase the deductible in order to get cheaper collision rates.

Liability insurance

This provides protection from damages or injuries you inflict on other people or property. It protects YOU against other people’s claims, and does not provide coverage for damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see liability limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL which limits claims to one amount and claims can be made without the split limit restrictions.

Liability can pay for things such as funeral expenses, emergency aid, legal defense fees, repair bills for other people’s vehicles and medical services. How much liability coverage do you need? That is a decision to put some thought into, but buy higher limits if possible.

Power to the consumer

In this article, we covered a lot of tips how to reduce 2014 Mitsubishi Lancer Evolution insurance prices online. It’s most important to understand that the more you quote, the better your comparison will be. Drivers may discover the lowest premiums are with the smaller companies. These companies may often insure only within specific states and give getter rates as compared to the big name companies such as Allstate, Geico and Progressive.

As you shop your coverage around, it’s not a good idea to sacrifice coverage to reduce premiums. There have been many situations where an accident victim reduced comprehensive coverage or liability limits only to regret at claim time that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to buy enough coverage at an affordable rate.

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