I can’t think of anyone who looks forward to paying for car insurance, in particular when they are paying too much.
Multiple car insurance companies compete for your insurance dollar, and because of this it can be hard to compare insurance companies to find the absolute lowest price
If you are paying for car insurance now, you will most likely be able to save some money using these methods. Choosing the best insurance company for you in Mayfield is quite easy. Although Kentucky consumers need to have an understanding of the methods companies use to price online insurance because it can help you find the best coverage.
Comprehensive Car Insurance Comparison in Mayfield, Kentucky
When shopping for car insurance there are multiple ways of comparing rates and find the best price. One of the best ways to compare insurance prices consists of obtaining rate quotes online. This can be done in a couple of different ways.
- The single most time-saving way to get quotes for comparison is an all-inclusive rate comparison click here to open form in new window. This easy form saves time by eliminating a different quote for each company. In just a few minutes this one form will return quotes from all major companies.
- Another way to get quotes online is to take the time to go to each company website to complete a price quote. For examples sake, let’s assume you want comparison quotes from Farmers, State Farm and Allstate. You would have to spend time on each company’s site to enter your coverage information, which is why most consumers use the first method. For a handy list of car insurance company links in Mayfield, click here.
It’s up to you which method you use, but make darn sure you compare identical coverage information on every quote. If you use different liability limits it’s not possible to truly determine the lowest rate in Mayfield. Quoting even small variations in coverages can make a big difference in price. And when comparison shopping, having more price comparisons will increase your chances of finding a better price.
Are you getting all your discounts?
Insuring your fleet can be pricey, but there could be available discounts to cut the cost considerably. Larger premium reductions will be automatically applied when you purchase, but less common discounts must be asked for before you will receive the discount.
- Multi-car Discount – Having more than one vehicle on one policy qualifies for this discount.
- Clubs and Organizations – Being a member of a professional or civic organization could trigger savings on your policy.
- Discount for Good Grades – Getting good grades can be rewarded with saving of up to 25%. The good student discount can last until age 25.
- Seat Belt Usage – Buckling up and requiring all passengers to use their safety belts could save 15% off the personal injury premium cost.
- Payment Method – If you pay your bill all at once instead of making monthly payments you could save 5% or more.
- Resident Student – Children living away from home attending college and do not have a car may qualify for this discount.
- Own a Home – Simply owning a home can save you money due to the fact that maintaining a home is proof that your finances are in order.
- Multiple Policy Discount – If you insure your home and vehicles with the same insurance company you may save up to 20% off your total premium.
As a disclaimer on discounts, most of the big mark downs will not be given to all coverage premiums. The majority will only reduce individual premiums such as comprehensive or collision. Just because it seems like all the discounts add up to a free policy, companies don’t profit that way. But any discount will reduce your premiums.
To choose insurers with the best car insurance discounts in Mayfield, click this link.
Additional information can be read on the website for the Kentucky Department of Insurance. Click here for link. Kentucky consumers can discover disciplinary actions, find out which companies have the most complaints, and find out industry alerts.
Don’t listen to company ads
Companies like State Farm, GEICO and Progressive regularly use ads on TV and radio. All the ads say the same thing of big savings if you move your policy. How does each company make almost identical claims? It’s all in the numbers.
Insurance companies have a certain “appetite” for the driver that makes them money. An example of a preferred risk might be between 25 and 40, owns a home, and chooses high deductibles. A driver who fits that profile receives the best rates and most likely will save a lot of money.
Drivers who don’t qualify for the “perfect” profile must pay higher prices and ends up with business not being written. Company advertisements say “customers that switch” not “everybody who quotes” save that much. That’s the way insurance companies can confidently make those claims.
This illustrates why it’s extremely important to quote coverage with many companies. It’s just too difficult to predict which insurance companies will give you the biggest savings.
Car insurance specifics
Knowing the specifics of car insurance can help you determine which coverages you need and proper limits and deductibles. The terms used in a policy can be difficult to understand and coverage can change by endorsement. Shown next are typical coverages offered by car insurance companies.
Liability auto insurance
This coverage provides protection from damage or injury you incur to other people or property in an accident. It protects you against claims from other people, and does not provide coverage for damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. You commonly see values of 25/50/25 which means a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and $25,000 of coverage for damaged propery. Alternatively, you may have a combined single limit or CSL that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage pays for claims like repair costs for stationary objects, pain and suffering and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying higher limits if possible. Kentucky requires drivers to carry at least 25,000/50,000/10,000 but you should think about purchasing higher limits.
Uninsured/Underinsured Motorist (UM/UIM)
This protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits (25/50/10 in Kentucky), their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea. Frequently the UM/UIM limits are identical to your policy’s liability coverage.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance provide coverage for expenses for things like funeral costs, dental work, prosthetic devices, nursing services and surgery. The coverages can be used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Collision coverage pays for damage to your vehicle resulting from a collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.
Collision coverage protects against things like hitting a mailbox, driving through your garage door, sustaining damage from a pot hole and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. Drivers also have the option to increase the deductible to save money on collision insurance.
Comprehensive insurance coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like theft, vandalism, falling objects and fire damage. The most a car insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.
In the end, you save
We just covered a lot of tips how to get a better price on car insurance. The key concept to understand is the more times you quote, the better likelihood of reducing your rate. Drivers may discover the lowest priced car insurance comes from the smaller companies. They can often provide lower rates in certain areas than their larger competitors like Progressive and GEICO.
Affordable car insurance is possible both online as well as from independent agents in Mayfield, and you should compare price quotes from both to have the best selection. Some insurance providers don’t offer the ability to get a quote online and these small insurance companies work with independent agents.