Tired of not being able to afford to insure your vehicles every month? You’re in the same situation as many other Utah consumers. Many auto insurance companies vie to insure your vehicles, and it can be difficult to compare rates and get the definite lowest rate
If you have insurance now or are just looking to switch companies, you can learn to reduce the price you pay and still get good coverage. Finding affordable coverage in Kaysville is not rocket science. Utah vehicle owners only need an understanding of the proper way to compare prices on the web.
How much can you save with these seven discounts?
Insurance can cost an arm and a leg, but companies offer discounts that you may not know about. Certain discounts will be applied when you get a quote, but a few need to be inquired about prior to receiving the credit. If you aren’t receiving every discount possible, you are paying more than you should be.
- Discount for Life Insurance – Companies who offer life insurance give lower rates if you buy life insurance from them.
- Early Signing – Some insurance companies reward drivers for switching policies prior to your current policy expiring. This can save 10% or more.
- Anti-lock Brake System – Anti-lock brake equipped vehicles prevent accidents and qualify for as much as a 10% discount.
- Passive Restraint Discount – Cars that have air bags and/or automatic seat belt systems may earn rate discounts of 20% or more.
- Accident Free – Good drivers with no accidents pay much less when compared with frequent claim filers.
- New Car Discount – Adding a new car to your policy can save up to 30% since new cars are generally safer.
- Low Mileage – Fewer annual miles could qualify for better rates on cars that stay parked.
It’s important to note that some of the credits will not apply to the entire cost. Some only apply to specific coverage prices like comp or med pay. So even though they make it sound like you could get a free auto insurance policy, auto insurance companies aren’t that generous. But all discounts will cut your overall premium however.
Is there deception in advertising?
Utah consumers get pounded daily by advertisements for the lowest price auto insurance from the likes of Allstate and Progressive. They all seem to say the same thing that you’ll save big after switching your coverage to them.
How does each company make almost identical claims?
Insurance companies have a certain “appetite” for the type of driver that earns them a profit. For example, a profitable customer could possibly be over the age of 40, is a homeowner, and has great credit. Any driver who fits that profile will get the preferred rates and most likely will cut their rates substantially.
Potential insureds who don’t qualify for these standards must pay a more expensive rate which usually ends up with the driver buying from a lower-cost company. The ads say “drivers who switch” not “people who quote” save that kind of money. That’s why insurance companies can claim big savings.
This illustrates why you absolutely need to get as many quotes as possible. It’s just too difficult to predict the company that will provide you with the cheapest rates.
Auto insurance policy coverages
Knowing the specifics of auto insurance can be of help when determining the right coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. Below you’ll find typical coverages found on the average auto insurance policy.
Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage protects against things such as vandalism, fire damage, hail damage, damage from flooding and damage from a tornado or hurricane. The most you can receive from a comprehensive claim is the actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Uninsured/Underinsured Motorist coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your vehicle.
Because many people only carry the minimum required liability limits (which is 25/65/15), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family. Usually the UM/UIM limits do not exceed the liability coverage limits.
Medical payments coverage and PIP
Med pay and PIP coverage provide coverage for short-term medical expenses for things like doctor visits, nursing services, surgery and dental work. They are utilized in addition to your health insurance policy or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and also covers if you are hit as a while walking down the street. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage
Collision coverage protection
Collision insurance covers damage to your vehicle caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision insurance covers claims such as colliding with another moving vehicle, crashing into a ditch, driving through your garage door, colliding with a tree and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. You can also increase the deductible to save money on collision insurance.
Auto liability insurance
Liability coverage protects you from damages or injuries you inflict on other’s property or people in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show policy limits of 25/50/25 that means you have a $25,000 limit per person for injuries, $50,000 for the entire accident, and a limit of $25,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount with no separate limits for injury or property damage.
Liability insurance covers things such as funeral expenses, bail bonds, repair bills for other people’s vehicles, medical expenses and repair costs for stationary objects. How much liability should you purchase? That is a personal decision, but you should buy higher limits if possible. Utah requires minimum liability limits of 25,000/65,000/15,000 but you should consider buying better liability coverage.
Much more information about auto insurance in Utah can be read on the website for the Utah Insurance Department. Click here for link. Utah drivers can discover disciplinary actions, read consumer alerts, and learn about specific coverages.
Smart shoppers get results
In this article, we presented a lot of ways to compare auto insurance prices online. It’s most important to understand that the more quotes you get, the better chance you’ll have of finding lower rates. Drivers may discover the lowest priced auto insurance comes from the least-expected company. These companies may have significantly lower rates on certain market segments than their larger competitors like State Farm and Allstate.
When you buy insurance online, never skimp on critical coverages to save a buck or two. There are too many instances where an insured cut uninsured motorist or liability limits only to find out that the few dollars in savings costed them thousands. Your aim should be to buy enough coverage at an affordable rate while not skimping on critical coverages.