Overpriced auto insurance can overdraw your personal savings and put a big crunch on your finances. Shopping your coverage around is a smart way to cut your insurance bill. Insurance companies such as Allstate, Liberty Mutual and State Farm continually hit you with ads and it is difficult to separate fact from fiction and do the work needed to find the best deal.
Consumers need to get comparison quotes before your policy renews because insurance rates are variable and change quite frequently. Despite the fact that you may have had the best deal six months ago you may be paying too much now. Forget all the misinformation about auto insurance because we’re going to demonstrate one of the easiest ways to find the best coverage while lowering your premiums.
Indian Trail Auto Insurance Comparisons
Getting a lower price on insurance is actually quite simple. Drivers just need to spend a few minutes on the computer comparing price quotes from different insurance companies. This is very easy and can be done in several different ways.
- The single most time-saving way consumers can analyze rates is to use a rate comparison form click here to open form in new window. This easy form saves time by eliminating separate quotes for every auto insurance company. In just a few minutes this one form will get you rate comparisons from multiple low-cost companies.
- A less efficient way to find lower rates consists of visiting the website for each individual company to request a price quote. For examples sake, let’s say you want rates from State Farm, Safeco and GEICO. To find out each rate you need to spend time on each company’s site to enter your coverage information, which is why most consumers use the first method.
For a list of links to insurance companies in Indian Trail, click here.
It’s your choice how you get your quotes, but ensure you’re using apples-to-apples coverage limits and deductibles for every company. If you compare different limits and deductibles on each one then you won’t be able to find the best deal in Indian Trail.
Take these eight discounts and save
Companies don’t necessarily list all available discounts very well, so here is a list some of the best known and the more hidden discounts you could be receiving. If you don’t get every credit you deserve, you’re just leaving money on the table.
- New Car Discount – Buying coverage on a new vehicle can be considerably cheaper since new cars are generally safer.
- Paperless Signup – A few companies will give a small break for buying your policy over the internet.
- Anti-lock Brake Discount – Vehicles equipped with ABS or steering control can avoid accidents and earn discounts up to 10%.
- Payment Method – If paying your policy premium upfront rather than paying monthly you could save up to 5%.
- Accident Waiver – Some insurance companies permit an accident before hitting you with a surcharge so long as you haven’t had any claims for a certain period of time.
- Claim Free – Good drivers with no accidents pay less as compared to drivers who are more careless.
- Federal Government Employee – Employees or retirees of the government can earn a discount up to 10% with a few auto insurance companies.
- Good Students Pay Less – Performing well in school can be rewarded with saving of up to 25%. This discount can apply up to age 25.
As a disclaimer on discounts, many deductions do not apply to all coverage premiums. Most only reduce individual premiums such as comp or med pay. Just because it seems like you could get a free auto insurance policy, companies don’t profit that way.
For a list of companies with the best auto insurance discounts in Indian Trail, click here.
The coverage is in the details
Having a good grasp of auto insurance aids in choosing the right coverages and the correct deductibles and limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. These are typical coverage types found on the average auto insurance policy.
Collision – This coverage covers damage to your vehicle caused by collision with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.<img class="alignright" style="padding-top:15px;" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-12.jpg" alt="Indian Trail North Carolina car insurance prices“/>
Collision coverage protects against claims like sideswiping another vehicle, scraping a guard rail and crashing into a building. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Drivers also have the option to choose a higher deductible to save money on collision insurance.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP kick in for expenses like rehabilitation expenses, X-ray expenses, prosthetic devices and chiropractic care. They can be utilized in addition to your health insurance plan or if you are not covered by health insurance. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP coverage is not an option in every state and may carry a deductible
Liability car insurance – Liability insurance can cover damage that occurs to other’s property or people that is your fault. It protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.
Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 100/300/100 that means you have $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000.
Liability coverage protects against things like funeral expenses, court costs and emergency aid. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford. North Carolina requires minimum liability limits of 30,000/60,000/25,000 but you should consider buying better liability coverage.
Uninsured/Underinsured Motorist (UM/UIM) – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your vehicle.
Because many people have only the minimum liability required by law (which is 30/60/25), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.
Comprehensive insurance – This coverage covers 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 can pay for claims like hitting a bird, damage from getting keyed, damage from a tornado or hurricane, a tree branch falling on your vehicle and rock chips in glass. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
A tidy conclusion
Cost effective auto insurance is possible from both online companies and also from your neighborhood Indian Trail agents, and you should compare price quotes from both to have the best rate selection. A few companies may not provide online quoting and usually these small insurance companies provide coverage only through local independent agents.
While you’re price shopping online, make sure you don’t skimp on critical coverages to save a buck or two. Too many times, someone dropped physical damage coverage only to regret that it was a big error on their part. The ultimate goal is to buy a smart amount of coverage for the lowest price, not the least amount of coverage.
In this article, we presented a lot of information how to get a better price on auto insurance. The key concept to understand is the more rate comparisons you have, the better chance you’ll have of finding lower rates. You may even discover the best price on auto insurance is with an unexpected company. These smaller insurers may cover specific market segments cheaper than the large multi-state companies such as Progressive and GEICO.
More detailed North Carolina auto insurance information can be found at the North Carolina Department of Insurance website. North Carolina drivers can file complaints about an insurance agent or broker, find out which companies have the most complaints, and read consumer alerts.