Have you had enough of not being able to afford each month for car insurance? You are no different than millions of other consumers. Companies like Allstate, Liberty Mutual and State Farm promote their brand names with ads and it is difficult to see past the corporate glitz and do the work needed to find the best deal.
You should take the time to shop coverage around quite often due to the fact that insurance rates are constantly changing. If you had the best price a year ago there may be better deals available now. Forget all the misinformation about car insurance because you’re about to learn the tricks you need to know to find great coverage at a great price.
If you have insurance now or are shopping for new coverage, you can follow these tips to get lower rates while maximizing coverage. Choosing the best insurance company for you in Orono is easy if you know what you’re doing. Maine vehicle owners only need an understanding of the tricks to get comparison quotes online.
Don’t overlook these 5 discounts
Companies offering auto insurance do not advertise every discount very well, so the following is a list of both the well known and also the lesser-known discounts you could be receiving. If you don’t get every credit available, you are paying more than you should be.
- Multiple Cars – Buying insurance for all your vehicles on one policy qualifies for this discount.
- Good Student Discount – Getting good grades can get you a discount of up to 25%. The good student discount can last until age 25.
- Life Insurance – Companies who offer life insurance give a discount if you purchase auto and life insurance together.
- Discount for New Cars – Adding a new car to your policy is cheaper because new vehicles have to meet stringent safety requirements.
- Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to use their safety belts can save 10% or more on the medical payments or PIP coverage costs.
It’s important to understand that most credits do not apply to the entire policy premium. Some only apply to the price of certain insurance coverages like liability and collision coverage. So despite the fact that it appears all those discounts means the company will pay you, it doesn’t quite work that way.
Maine drivers constantly see and hear ads that promise big savings by companies like Progressive, GEICO, Allstate and State Farm. All the companies say the same thing that you can save if you switch to them.
How do they all say the same thing?
Different companies are able to cherry pick for the right customer that earns them a profit. An example of a desirable insured could possibly be between 25 and 40, owns a home, and chooses high deductibles. A driver who fits that profile receives the best rates and is almost guaranteed to cut their rates substantially.
Drivers who fall outside these standards will be charged a higher premium and this can result in the customer not buying. The ads say “people who switch” not “people who quote” save that much money. That’s the way insurance companies can advertise the way they do. That is why it’s extremely important to compare many company’s rates. Because you never know which car insurance company will fit your personal profile best.
Is my situation unique?
When buying proper insurance coverage, there really is not a “best” method to buy coverage. Every insured’s situation is different and a cookie cutter policy won’t apply. Here are some questions about coverages that may help highlight whether you would benefit from professional advice.
- When do I need to add a new car to my policy?
- Will my vehicle be repaired with OEM or aftermarket parts?
- Am I covered when driving a rental car?
- Why am I be forced to buy a membership to get insurance from some companies?
- Should I file a claim if it’s only slightly more than my deductible?
- Is business equipment covered while in my vehicle?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Can I still get insurance after a DUI?
- Does my insurance cover damage caused when ticketed for reckless driving?
- Can I afford to pay high deductible claims out of pocket?
If you’re not sure about those questions but you think they might apply to your situation, you may need to chat with a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier It’s fast, free and can help protect your family.
What car insurance coverages do you need?
Learning about specific coverages of your policy helps when choosing which coverages you need for your vehicles. Policy terminology can be confusing and reading a policy is terribly boring. These are the usual coverages found on most car insurance policies.
Collision coverages – Collision coverage pays for damage to your vehicle resulting 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 coverage protects against things like hitting a parking meter, rolling your car and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. Drivers also have the option to bump up the deductible in order to get cheaper collision rates.
Liability – This coverage protects you from damages or injuries you inflict on people or other 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. Your policy might show values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and $50,000 of coverage for damaged propery.
Liability coverage protects against things such as funeral expenses, legal defense fees, loss of income and medical expenses. How much coverage you buy is your choice, but you should buy as high a limit as you can afford. Maine requires minimum liability limits of 50,000/100,000/25,000 but you should consider buying more coverage.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage provides protection when other motorists are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your vehicle.
Since many Maine drivers carry very low liability coverage limits (which is 50/100/25), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important.
Medical payments coverage and PIP – Med pay and PIP coverage pay for immediate expenses for chiropractic care, ambulance fees, nursing services and EMT expenses. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to both the driver and occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not universally available and may carry a deductible
Comprehensive coverage – Comprehensive insurance coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims such as damage from a tornado or hurricane, falling objects and a broken windshield. The maximum amount a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.
Learn more about Maine car insurance
Even more information is located at the Maine Bureau of Insurance website. Consumers can find disaster information, find a variety of consumer forms, read state legal mandates and laws, and report car insurance fraud.
You just learned some good ideas how to reduce car insurance prices online. The most important thing to understand is the more rate quotes you have, the better your chances of lowering your rates. You may be surprised to find that the best prices are with a company that doesn’t do a lot of advertising. Some small companies may often insure only within specific states and give getter rates than the large multi-state companies such as Progressive or GEICO.
Cheap car insurance is definitely available from both online companies and also from your neighborhood Orono agents, and you should compare price quotes from both to have the best chance of lowering rates. A few companies may not provide you the ability to get quotes online and usually these regional insurance providers provide coverage only through local independent agents.