Are you a victim of overpriced car insurance? It’s a common feeling and you’re not the only one. Popular companies such as State Farm, Farmers Insurance, GEICO and Allstate all claim big savings with ad campaigns and it can be hard to not get sucked in by the cute commercials and take the time to shop coverage around.
You need to compare rates on a regular basis because prices trend upward over time. Even if you think you had the lowest rates last year there may be better deals available now. Forget all the misinformation about car insurance because I’m going to teach you the fastest way to lower your annual insurance bill.
Nine discounts for affordable car insurance rates
Companies offering auto insurance don’t necessarily list every disount available very well, so the list below contains a few of the more well known as well as some of the hidden car insurance savings.
- Homeowners Savings – Simply owning a home can save you money since owning and maintaining a home requires personal responsibility.
- Memberships – Being in a professional or civic organization could trigger savings on car insurance.
- Cautious Driver Discounts – Safe drivers may receive a discount up to 45% than drivers with accident claims.
- Multiple Cars – Having multiple cars or trucks on the same car insurance policy can get a discount for every vehicle.
- One Accident Forgiven – but companies like Liberty Mutual and GEICO may permit one accident before they charge you more for coverage if you are claim-free before the accident.
- Discounts for New Vehicles – Insuring a vehicle that is new can cost up to 25% less compared to insuring an older model.
- Good Student Discount – Getting good grades can get you a discount of up to 25%. This discount can apply until age 25.
- Theft Prevention System – Cars equipped with anti-theft or alarm systems are less likely to be stolen and that can save you a little bit as well.
- E-sign Discounts</strong – Many companies will give a small break on the web.
Don’t be surprised that some of the credits will not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So when it seems like you can get free auto insurance, insurance companies wouldn’t stay in business.
A partial list of companies that may have many of the previously listed discounts possibly include:
When quoting, ask every company what discounts are available to you. Some discounts may not be offered in your state. If you would like to view car insurance companies offering car insurance discounts in Utah, click here to view.
Car insurance advertising gotchas
Consumers in Utah can’t ignore all the ads that promise big savings from the likes of Progressive, GEICO, Allstate and State Farm. All the ads try to convey promises about how much you will save just by moving your coverage.
How can each company offer you a better deal? It’s all in the numbers.
Most companies have specific characteristics for the type of driver that will generate a profit. One example of a desirable insured should be a mature driver, owns a home, and drives newer vehicles. Someone that matches those criteria will qualify for the lowest auto insurance rates in Morgan and will save quite a bit of money when switching.
Consumers who do not match this stringent profile will probably have to pay a higher rate which leads to the customer buying from a different company. The wording the ads use say “customers that switch” not “everybody who quotes” save money. That’s why insurance companies can confidently claim big savings.
Because of this risk profiling, you should compare often. Because without a comparison, you cannot know with any certainty which company will provide the lowest premium rates.
Car insurance coverage breakdown
Knowing the specifics of a car insurance policy can help you determine the best coverages and the correct deductibles and limits. Car insurance terms can be ambiguous and nobody wants to actually read their policy. These are the usual coverages offered by car insurance companies.<img class="alignright" style="padding-top:15px;" src="https://www.carinsurancediy.com/wp-content/uploads/ci175-57.jpg" alt="Morgan car insurance prices“/>
This protects you from damage that occurs to other people or property by causing an accident. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 which stand for a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. 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 coverage pays for things such as pain and suffering, legal defense fees and attorney fees. How much liability should you purchase? That is your choice, but you should buy higher limits if possible. Utah requires drivers to carry at least 25,000/65,000/15,000 but it’s recommended drivers buy more liability than the minimum.
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive can pay for things like damage from getting keyed, hitting a bird and damage from flooding. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Coverage for medical payments
Coverage for medical payments and/or PIP pay for short-term medical expenses for things like chiropractic care, hospital visits, doctor visits and funeral costs. They can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Uninsured and underinsured coverage
This coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your vehicle.
Due to the fact that many Utah drivers have only the minimum liability required by law (which is 25/65/15), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Normally these coverages are similar to your liability insurance amounts.
Collision insurance will pay to fix damage to your vehicle from colliding with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers things such as damaging your car on a curb, sideswiping another vehicle, crashing into a building and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. It’s also possible to choose a higher deductible in order to get cheaper collision rates.
Additional information is located on the through this link. Utah consumers can report car insurance fraud, read state legal mandates and laws, and learn about insurance regulations.
More related Morgan car insurance information:
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- Learn How to Shop For Morgantown, WV Car Insurance Like a Pro
- Lowest Auto Insurance Exclusively for Morgan City, LA Residents
Quote often and quote early
Some insurance providers may not have the ability to get quotes online and many times these smaller providers sell through independent agents. Cheap car insurance is definitely available online and with local Morgan insurance agents, and you should be comparing both to have the best rate selection.
We just showed you many tips how you can get a better price on car insurance. The key thing to remember is the more providers you compare, the higher the chance of saving money. You may even find the lowest priced car insurance comes from a small mutual company. Smaller companies often have lower premium rates on specific markets than their larger competitors like State Farm, GEICO and Nationwide.
While you’re price shopping online, it’s very important that you do not buy lower coverage limits just to save a few bucks. There are many occasions where drivers have reduced liability coverage limits and learned later they didn’t purchase enough coverage. Your goal is to buy the best coverage you can find at the best price but still have enough coverage for asset protection.