Having to pay for overpriced car insurance can overdraw your checking account and make it hard to pay other bills. Shopping your coverage around is a great way to tighten up your finances.
Many car insurance companies vie to insure your vehicles, so it’s not easy to compare every company to discover the definitive best price available.
Smart consumers take time to check car insurance prices once or twice a year because insurance rates are variable and change quite frequently. If you had the lowest price two years ago you can probably find a lower rate today. Forget anything you know (or think you know) about car insurance because you’re about to find out the quickest way to properly buy coverages while reducing your premium.
Vehicle Insurance Comparison
There are several ways you can shop for car insurance and some are less labor-intensive and much quicker. You could waste time discussing policy coverages with insurance agencies in Fishers, or you can stay home and use the web to achieve your goal.
Most car insurance companies belong to an insurance system that enables customers to complete one form, and each company can provide price quotes determined by their information. This system prevents you from having to do quote forms for every car insurance company.
To submit your quote information now, click here to open in new window.
The single downside to pricing coverage this way is buyers cannot specifically choose the providers you want to price. If you would rather choose from a list of companies to compare rates, we have a page of car insurance companies in Indiana. Click here to view list.
Whichever way you use, ensure you’re using apples-to-apples coverage information with every price quote. If you have different liability limits it will be next to impossible to determine the best price in Fishers. Quoting even small variations in coverage limits could mean much higher rates. And when comparison shopping, quoting more provides better odds of finding lower pricing.
Are you getting all your discounts?
Car insurance is not cheap, but there are discounts available to cut the cost considerably. Certain discounts will be applied when you quote, but a few need to be specially asked for in order for you to get them.
- No Claims – Drivers with accident-free driving histories pay much less when compared with bad drivers.
- Save with a New Car – Buying coverage on a new vehicle can be considerably cheaper because new vehicles have to meet stringent safety requirements.
- Distant Student – Kids in college living away from home attending college without a vehicle on campus can receive lower rates.
- 55 and Retired – If you’re over the age of 55, you may qualify for a discount up to 10%.
- Drive Safe and Save – Safe drivers may save up to 50% more than less cautious drivers.
- Payment Method – If you pay your bill all at once instead of making monthly payments you could save 5% or more.
- Clubs and Organizations – Being a member of a civic or occupational organization is a good way to get lower rates when shopping for car insurance.
- Homeowners Savings – Simply owning a home can save you money because maintaining a house requires personal responsibility.
Consumers should know that many deductions do not apply to the entire policy premium. A few only apply to individual premiums such as liability and collision coverage. Just because it seems like it’s possible to get free car insurance, you won’t be that lucky. But all discounts will reduce the cost of coverage.
For a list of providers with discount car insurance rates in Fishers, click here to view.
When might I need an agent?
When it comes to choosing adequate coverage for your personal vehicles, there is no one size fits all plan. Everyone’s situation is a little different and a cookie cutter policy won’t apply. For example, these questions may help highlight whether or not you might need professional guidance.
- Is a new car covered when I drive it off the dealer lot?
- Will I be non-renewed for getting a DUI or other conviction?
- When should my teen driver be added to my policy?
- Who is covered by my policy?
- Do I need to file an SR-22 for a DUI in Indiana?
- Am I covered if I crash into my own garage door?
- Am I covered when driving someone else’s vehicle?
If it’s difficult to answer those questions, you might consider talking to an agent. If you want to speak to an agent in your area, complete this form or click here for a list of car insurance companies in your area.
More information is located on the website for the Indiana Department of Insurance. Click here for link. Indiana drivers can read industry bulletins, read enforcement actions against agents and companies, view a list of available companies, and get help finding coverage.
Information about specific coverages
Having a good grasp of your policy can help you determine the best coverages and the correct deductibles and limits. The coverage terms in a policy can be confusing and reading a policy is terribly boring. Below you’ll find typical coverage types available from car insurance companies.
Collision coverage protection
Collision coverage covers damage to your vehicle caused by collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as rolling your car, crashing into a ditch and colliding with a tree. This coverage can be expensive, so analyze the benefit of dropping coverage from lower value vehicles. You can also bump up the deductible in order to get cheaper collision rates.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage provides protection when other motorists do not carry enough liability coverage. It can pay for medical payments for you and your occupants as well as damage to your vehicle.
Since many Indiana drivers carry very low liability coverage limits (which is 25/50/10), their limits can quickly be used up. So UM/UIM coverage is important protection for you and your family. Usually these limits are set the same as your liablity limits.
Liability car insurance
This coverage will cover damages or injuries you inflict on other people or property by causing an accident. It protects YOU against claims from other people. Liability doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/50 which stand for a limit of $50,000 per injured person, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Some companies may use one number which is a combined single limit which limits claims to one amount with no separate limits for injury or property damage.
Liability can pay for things such as structural damage, repair bills for other people’s vehicles, attorney fees and funeral expenses. How much liability coverage do you need? That is a personal decision, but buy as large an amount as possible. Indiana state law requires minimum liability limits of 25,000/50,000/10,000 but it’s recommended drivers buy higher limits.
Medical payments and PIP coverage
Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for hospital visits, prosthetic devices, X-ray expenses and ambulance fees. They can be utilized in addition to your health insurance program or if there is no health insurance coverage. Coverage applies to both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not available in all states and may carry a deductible
Comprehensive auto coverage
Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive can pay for claims such as theft, damage from flooding, hitting a bird and fire damage. The highest amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
More effort can pay off
We just presented many ideas to reduce car insurance prices online. The key concept to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Consumers could even find that the lowest rates come from a small mutual company. These smaller insurers may only write in your state and offer lower rates as compared to the big name companies such as Geico and State Farm.
While you’re price shopping online, it’s very important that you do not reduce needed coverages to save money. There have been many cases where drivers have reduced full coverage and learned later that the few dollars in savings costed them thousands. Your aim should be to purchase a proper amount of coverage at the best price.