Finding budget Lexington auto insurance might seem somewhat difficult for beginners to price shopping on the web. With so many agents and online companies, how are we expected to have a chance to compare each option to find better rates?
To get , there a variety of ways to compare rate quotes from different companies. The simplest method to find affordable insurance rates consists of obtaining rate quotes online. This can be done in a couple minutes as outlined below.
- The single most time-saving way to get quotes is to use a rate comparison form like this one (opens in new window). This method eliminates the need for a different quote to each individual auto insurance company. Taking the time to complete one form gets rate comparisons direct from many companies. It’s the fastest way to compare.
- A different way to compare rate quotes is spending the time to visit each individual company website and repeat the quote process. For sake of this example, let’s assume you want to view quotes from USAA, Farmers and Allstate. You would be required to go to every website to enter the same coverage data repeatedly, which is why most consumers use the first method. For a list of companies in Lexington, click here.
Take whichever approach you prefer, but make sure you are using equivalent quote data for each comparison quote. If you are comparing different data then you won’t be able to make an equal comparison in Lexington. Quoting even small variations in insurance coverages could skew the results. And when comparing auto insurance rates, know that comparing more quotes helps improve the odds of finding the best price.
Auto insurance companies offer lots of discounts
Companies that sell car insurance don’t always publicize the entire discount list very well, so the below list has both the well known and the harder-to-find savings tricks you should be using when you .
- Life Insurance – Larger auto insurance companies have a break if you buy a life policy as well.
- Drive Less and Save – Driving less could be rewarded with lower premium rates due to less chance of an accident.
- Senior Citizen Rates – If you’re over the age of 55, you can possibly qualify for reduced rates.
- Save with a New Car – Buying a new car instead of a used car can be considerably cheaper compared to insuring an older model.
- Defensive Driver Discounts – Passing a defensive driving class could cut 5% off your bill if you qualify.
Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to your bottom line cost. A few only apply to specific coverage prices like collision or personal injury protection. So even though you would think all those discounts means the company will pay you, you aren’t that lucky. Any amount of discount will help reduce your overall premium however.
For a list of insurers that can offer you the previously mentioned discounts in Lexington, follow this link.
Do I just need basic coverages?
When it comes to buying coverage, there really is not a perfect coverage plan. Every insured’s situation is different.
Here are some questions about coverages that could help you determine whether or not you might need an agent’s assistance.
- Is my vehicle covered by my employer’s policy when using it for work?
- Are my friends covered when driving my vehicle?
- What happens if I owe more than my vehicle is worth?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Does having multiple vehicles earn me a discount?
- Is my cargo covered for damage or theft?
- When would I need rental car insurance?
- Do I have coverage when making deliveries for my home business?
- What are the financial responsibility laws in North Carolina?
- Do I need higher deductibles?
If you can’t answer these questions but a few of them apply, you might consider talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form.
Specific coverages
Understanding the coverages of your policy can help you determine the right coverages and proper limits and deductibles. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.
Liability car insurance – Liability insurance protects you from damages or injuries you inflict on a person or their property. 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. As an example, you may have liability limits of 100/300/100 which means a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Another option is one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.
Liability can pay for things such as medical expenses, bail bonds, structural damage, repair costs for stationary objects and pain and suffering. How much liability coverage do you need? That is a personal decision, but it’s cheap coverage so purchase higher limits if possible. North Carolina state law requires minimum liability limits of 30,000/60,000/25,000 but you should think about purchasing better liability coverage.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like surgery, funeral costs, ambulance fees, dental work and prosthetic devices. The coverages can be utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover you and your occupants in addition to any family member struck as a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay
Collision coverages – This will pay to fix damage to your vehicle resulting from colliding with another vehicle or an object, but not an animal. A deductible applies then the remaining damage will be paid by your insurance company.
Collision insurance covers claims like sustaining damage from a pot hole, sideswiping another vehicle and colliding with a tree. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.
Comprehensive insurance – This coverage covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as fire damage, damage from getting keyed, hail damage, damage from a tornado or hurricane and a broken windshield. The maximum amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for medical payments for you and your occupants and damage to your vehicle.
Because many people only purchase the least amount of liability that is required (North Carolina limits are 30/60/25), their limits can quickly be used up. So UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
More information is located on the located here. Visitors are able to view a list of available companies, download brochures, find out which companies have the most complaints, and read consumer alerts.
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Cheaper coverage is out there
When you , do not buy lower coverage limits just to save a few bucks. In too many instances, drivers have reduced full coverage only to regret at claim time that the savings was not a smart move. Your aim should be to purchase a proper amount of coverage at the best possible price, not the least amount of coverage.
Insureds leave their current company for a number of reasons such as high rates after DUI convictions, not issuing a premium refund, an unsatisfactory settlement offer or extreme rates for teen drivers. No matter why you want to switch, choosing a new company is pretty simple and you could end up saving a buck or two.
Budget-friendly auto insurance can be bought both online and from local agencies, and you should compare rates from both to have the best chance of lowering rates. A few companies don’t offer rate quotes online and these small insurance companies prefer to sell through independent agents.