Finding lower premiums on Muncie car insurance can be a challenge for beginners to comparing rates online. Drivers have so many choices that it can be a challenge to find the best price in Muncie.
It’s important to take a look at other company’s rates at least once a year because rates are variable and change quite frequently. If you had the best deal six months ago a different company probably has better rates today. Ignore everything you know about car insurance because you’re about to learn the proper way to reduce your cost while improving coverage.
Buying affordable car insurance coverage in Muncie can be fairly easy. Essentially everyone who carries car insurance will be able to lower their premiums. Although Indiana drivers do need to know how the larger insurance companies market on the web because it can help you find the best coverage.
Finding Car Insurance in Muncie
There are several ways of comparing rate quotes from car insurance companies in your area. One of the best ways to compare insurance prices consists of obtaining rate quotes online. It is quite easy and can be accomplished in several different ways.
- The single most time-saving way to compare a lot of rates at once is to use a rate comparison form click to view form in new window. This form saves time by eliminating separate quotes for each company you want a rate for. A single form gets you coverage quotes from many national carriers. Recommended for those who want to invest the least amount of time.
- A harder way to shop for car insurance online is going to the website of each company and complete a new quote form. For example, we’ll assume you want to compare rates from Farmers, Liberty Mutual and American Family. You would have to spend time on each company’s site to enter your coverage information, which is why the first method is quicker. For a handy list of car insurance company links in Muncie, click here.
It doesn’t matter which method you choose, just make sure you use identical coverages for every company. If you have different deductibles then you won’t be able to decipher which rate is best in Muncie. Having just a slight variation in insurance coverages may result in a large different in cost. And when comparison shopping, more quotes helps locate lower pricing.
These eight discounts can slash car insurance rates
Insuring your vehicles can cost a lot, buy you may qualify for discounts to reduce the price significantly. A few discounts will automatically apply when you get a quote, but a few need to be manually applied before being credited.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to complete a driver education course if offered at their school.
- Employee of Federal Government – Simply working for the federal government can earn a discount up to 10% with select insurance companies.
- Payment Method – If you pay your bill all at once rather than paying monthly you can actually save on your bill.
- Discount for Swiching Early – Select companies give a discount for switching to them prior to your current policy expiring. The savings is around 10%.
- Student in College – Children who attend school more than 100 miles from home and do not have access to a covered vehicle may be able to be covered for less.
- Sign Online – Some insurance companies give back up to $50 for buying your policy on their website.
- Anti-theft System – Vehicles with anti-theft systems help deter theft and earn discounts up to 10%.
- Auto/Life Discount – Companies who offer life insurance give a break if you buy life insurance from them.
As a disclaimer on discounts, some of the credits will not apply to all coverage premiums. Some only apply to specific coverage prices like comprehensive or collision. So even though they make it sound like it’s possible to get free car insurance, you’re out of luck. Any amount of discount will bring down your overall premium however.
For a list of companies offering car insurance discounts in Indiana, follow this link.
Coverage specifics
Learning about specific coverages of a car insurance policy helps when choosing the best coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and reading a policy is terribly boring.
Auto liability – This protects you from damage that occurs to other people or property that is your fault. Coverage consists of three different limits, 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 that means you have $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which provides one coverage limit and claims can be made without the split limit restrictions.
Liability coverage pays for things like attorney fees, funeral expenses and legal defense fees. The amount of liability coverage you purchase is your choice, but it’s cheap coverage so purchase as high a limit as you can afford. Indiana requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying higher limits.
Comprehensive coverages – This covers damage that is not covered by collision coverage. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things such as damage from flooding, fire damage and hail damage. The most you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Uninsured and underinsured coverage – This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Since a lot of drivers have only the minimum liability required by law (Indiana limits are 25/50/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Normally your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Coverage for medical payments – Personal Injury Protection (PIP) and medical payments coverage provide coverage for bills like ambulance fees, doctor visits, nursing services, rehabilitation expenses and EMT expenses. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP is only offered in select states and may carry a deductible
Collision coverages – This covers damage to your vehicle resulting from a collision with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims like sustaining damage from a pot hole, driving through your garage door, scraping a guard rail, sideswiping another vehicle and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. Drivers also have the option to bump up the deductible to get cheaper collision coverage.
Do the work, save more money
When trying to cut insurance costs, make sure you don’t buy lower coverage limits just to save a few bucks. There have been many cases where someone sacrificed collision coverage and learned later that they should have had better coverage. The ultimate goal is to buy a smart amount of coverage at a price you can afford while still protecting your assets.
In this article, we presented a lot of information how to lower your car insurance rates. The most important thing to understand is the more rate comparisons you have, the better your chances of lowering your rates. You may even discover the lowest premiums are with a small mutual company.
Budget-conscious car insurance is definitely available both online as well as from independent agents in Muncie, and you need to comparison shop both in order to have the best chance of saving money. There are still a few companies who don’t offer online price quotes and these small, regional companies work with independent agents.
Read more about Indiana car insurance
Much more information about car insurance in Indiana can be read on the Indiana Department of Insurance website found here. Indiana drivers can read industry bulletins, find disaster information, report car insurance fraud, and get help finding coverage.