Are you a victim of high-priced auto insurance? Don’t sweat it because many drivers have buyer’s remorse. Because you have many options, it can be impossible to choose a more affordable insurance company.
Discount auto insurance quotes
Some providers don’t always publicize every disount available very well, so the list below details both well-publicized and also the more inconspicuous credits that may apply to you.
- Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Homeowners Pay Less – Simply owning a home can get you a discount since home ownership demonstrates responsibility.
- Drive Less and Save – Fewer annual miles on your Mercedes-Benz may enable drivers to earn discounted rates on garaged vehicles.
- Discounts for Federal Employees – Active or retired federal employment could qualify for a slight premium decrease on CLS63 AMG insurance with certain companies.
- Driver’s Education for Students – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in school or through a local driver safety program.
Consumers should know that most discounts do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. Even though it appears all the discounts add up to a free policy, it just doesn’t work that way.
Larger auto insurance companies and a selection of discounts are outlined below.
- American Family has savings for mySafetyValet, bundled insurance, good driver, good student, and early bird.
- State Farm offers discounts including defensive driving training, passive restraint, anti-theft, good student, Steer Clear safe driver discount, and safe vehicle.
- 21st Century offers discounts for early bird, teen driver, automatic seat belts, driver training, 55 and older, and theft prevention.
- Travelers may include discounts for IntelliDrive, payment discounts, new car, multi-car, save driver, and student away at school.
- GEICO policyholders can earn discounts including multi-vehicle, anti-lock brakes, good student, daytime running lights, five-year accident-free, and defensive driver.
Before purchasing a policy, check with each company how many discounts you can get. Savings might not be offered in your area. To see insurance companies that can offer you the previously mentioned discounts, click here.
Auto insurance coverage breakdown
Understanding the coverages of a auto insurance policy helps when choosing which coverages you need and proper limits and deductibles. Policy terminology can be confusing and even agents have difficulty translating policy wording. Listed below are the normal coverages offered by auto insurance companies.
Comprehensive coverage
This pays for damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as damage from flooding, theft and vandalism. The most you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s not worth carrying full coverage.
Uninsured/Underinsured Motorist coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Usually your uninsured/underinsured motorist coverages are identical to your policy’s liability coverage.
Auto collision coverage
This coverage pays for damage to your CLS63 AMG caused by collision with a stationary object or other vehicle. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision can pay for claims like hitting a mailbox, damaging your car on a curb, colliding with another moving vehicle and scraping a guard rail. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. You can also raise the deductible in order to get cheaper collision rates.
Medical payments coverage and PIP
Med pay and PIP coverage provide coverage for short-term medical expenses for surgery, X-ray expenses, dental work and EMT expenses. They are used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants and will also cover any family member struck as a pedestrian. Personal Injury Protection is not available in all states but it provides additional coverages not offered by medical payments coverage
Auto liability insurance
This coverage will cover damages or injuries you inflict on a person or their property. It protects you against claims from other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 100/300/100 which means a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Another option is a combined limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability can pay for claims like bail bonds, legal defense fees, attorney fees, emergency aid and funeral expenses. How much liability should you purchase? That is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford.
Smart shoppers get results
More affordable auto insurance is attainable online in addition to many insurance agents, and you should compare rates from both to have the best chance of lowering rates. There are still a few companies who do not provide internet price quotes and usually these regional carriers work with independent agencies.
As you shop your coverage around, you should never buy lower coverage limits just to save a few bucks. There are too many instances where an insured cut liability limits or collision coverage to discover at claim time they didn’t purchase enough coverage. Your goal should be to buy enough coverage for the lowest cost while still protecting your assets.
