Are you irritated from being strong-armed to pay high auto insurance rates every month? You have the same problem as the majority of other people in Oregon. Online insurance companies like Allstate and Progressive all claim big savings with advertising and it is challenging if not impossible to ignore the promise of big savings and effectively compare rates to find the best deal.
Consumers should take time to compare premium rates yearly since prices trend upward over time. Even if you think you had the best quotes a year ago you can probably find a lower rate today. Forget anything you know (or think you know) about auto insurance because you’re going to learn the proper way to save on auto insurance.
If you have a current auto insurance policy or need new coverage, you will benefit by learning to get lower rates while maximizing coverage. Choosing the best insurance company for you in Junction City is easy if you know what you’re doing. Oregon vehicle owners just need to understand the tricks to compare rates over the internet.
The quickest way to compare rates is to understand most insurance companies will pay a fee to give rate comparisons. To get started, all you need to do is provide details like marital status, how much education you have, whether your vehicle is owned or leased, and how your vehicles are used. Your insurance information gets sent immediately to many highly-rated insurers and they respond with quotes within a short period of time.
If you would like to compare rates now, click here and complete the quick form.
Are auto insurance companies telling the truth?
Oregon drivers can’t get away from ads for the lowest price auto insurance by companies like GEICO, State Farm and Progressive. All the companies try to convey promises that drivers will save a bundle if you move your policy.
How do they all lower your premium rates? This is the trick they use.
Many companies offer their best rates for a prospective insured that makes them money. A good example of a desirable risk could possibly be over the age of 35, has no prior claims, and the vehicle is rated for pleasure use. Anyone who fits those characteristics will probably get cheap premium rates and will also save when they switch companies.
Consumers who do not fit the requirements will be quoted a higher premium and the driver buying from a lower-cost company. The wording the ads use say “drivers who switch” not “all people who quote” save money. That’s the way insurance companies can make it sound like they have such great rates.
This emphasizes why you need to get a wide range of price quotes. It is impossible to guess the company that will give you lower prices than your current company.
Nine discounts for affordable auto insurance rates
Insurance can cost an arm and a leg, but there’s a good chance there are discounts to cut the cost considerably. Certain credits will be shown when you get a quote, but some may not be applied and must be requested specifically before being credited.
- Driver Education Discount – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education in school.
- Safety Restraint Discount – Requiring all passengers to buckle up before driving may be able to save a few bucks on the medical payments or PIP coverage costs.
- Discount for Life Insurance – Not all companies offer life insurance, but some may give you lower rates if you buy life insurance.
- Sign Early and Save – Select larger companies give a discount for buying a policy early. This discount can save up to 10%.
- Good Students Pay Less – Excelling in school may save you up to 25%. Most companies allow this discount up to age 25.
- Clubs and Organizations – Participating in specific professional or occupational memberships or organizations may earn a discount on your policy.
- Passive Restraints – Factory options such as air bags and/or automatic seat belt systems can receive discounts as much as 30%.
- Own a Home – Being a homeowner can save a few bucks due to the fact that maintaining a home is proof that your finances are in order.
- Federal Employees – Employees or retirees of the government can save as much as 8% with some auto insurance companies.
Discounts lower rates, but most credits do not apply the the whole policy. Most cut specific coverage prices like comp or med pay. So despite the fact that it appears adding up those discounts means a free policy, companies wouldn’t make money that way.
If you would like to see a list of insurers that offer the discounts shown above in Junction City, click this link.
The coverage is in the details
Knowing the specifics of your auto insurance policy can be of help when determining the right coverages at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Listed below are the usual coverages offered by auto insurance companies.
Uninsured or underinsured coverage
This coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your vehicle.
Since many Oregon drivers carry very low liability coverage limits (which is 25/50/20), their limits can quickly be used up. So UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage protects against things like hail damage, fire damage and theft. The maximum payout a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
Liability insurance protects you from damage that occurs to other people or property. 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 liability limits of 100/300/100 which stand for a $100,000 limit per person for injuries, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged propery. Some companies may use one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.
Liability insurance covers things like legal defense fees, bail bonds and attorney fees. How much coverage you buy is your choice, but buy as high a limit as you can afford. Oregon requires drivers to carry at least 25,000/50,000/20,000 but it’s recommended drivers buy better liability coverage.
Medical expense coverage
Coverage for medical payments and/or PIP pay for immediate expenses for things like surgery, rehabilitation expenses, X-ray expenses and chiropractic care. They are often utilized in addition to your health insurance plan or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants as well as getting struck while a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Coverage for collisions
This coverage pays to fix your vehicle from damage 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 claims like damaging your car on a curb, rolling your car, scraping a guard rail and colliding with a tree. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. Another option is to bump up the deductible to save money on collision insurance.
Smart shoppers get results
In this article, we covered many ideas to save on auto insurance. It’s most important to understand that the more providers you compare, the better your comparison will be. Drivers may discover the most savings is with a smaller regional carrier. Regional companies may have significantly lower premium rates on certain market segments than the large multi-state companies such as State Farm, GEICO and Nationwide.
While you’re price shopping online, it’s not a good idea to skimp on critical coverages to save a buck or two. There are too many instances where an insured dropped comprehensive coverage or liability limits only to regret that they should have had better coverage. The aim is to buy a smart amount of coverage at an affordable rate, but don’t skip important coverages to save money.
To learn even more about auto insurance
More information can be read on the Oregon Insurance Division website located here. Consumers can read industry bulletins, file complaints about a company, learn about specific coverages, and download brochures.
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