Are you tired of trying to scrape together enough money each month for car insurance? You’re in the same situation as most other car owners. Numerous insurers battle to insure your vehicles, so it’s not easy to compare every company to find the absolute lowest rate possible.
You should make it a habit to get comparison quotes at least once a year due to the fact that insurance rates change quite often. If you had the best deal on XLR-V coverage two years ago you can probably find a lower rate today. Ignore everything you know about car insurance because I’m going to let you in on the secrets to the things you must know in order to save money, get proper deductibles and limits, all at the lowest rate.
If you have a current car insurance policy or need new coverage, you can use these techniques to shop for the lowest rates while maximizing coverage. Choosing the best insurance company for you is not that difficult. Drivers only need an understanding of how to compare company rates online.
Don’t miss these six discounts
Auto insurance companies do not list every available discount very clearly, so we researched some of the more common and the harder-to-find ways to save on car insurance. If you’re not getting every credit you deserve, you’re paying more than you need to.
- Multiple Vehicles – Having multiple vehicles on the same car insurance policy may reduce the rate for each vehicle.
- Multiple Policy Discount – If you insure your home and vehicles with the same company you may save at least 10% off all policies.
- Military Rewards – Being deployed with a military unit may qualify for rate reductions.
- Payment Method – If you pay your bill all at once instead of making monthly payments you may reduce your total bill.
- Accident Free – Drivers who don’t have accidents pay much less when compared to accident-prone drivers.
- Employee of Federal Government – Being employed by or retired from a federal job may qualify you for a discount on XLR-V coverage with certain companies.
Consumers should know that most of the big mark downs will not be given to your bottom line cost. A few only apply to specific coverage prices like liability and collision coverage. So when it seems like all those discounts means the company will pay you, car insurance companies aren’t that generous.
To choose insurers with discount car insurance rates, click here.
Information about specific coverages
Learning about specific coverages of your policy aids in choosing which coverages you need and the correct deductibles and limits. Car insurance terms can be confusing and reading a policy is terribly boring. Below you’ll find the usual coverages available from car insurance companies.
Uninsured Motorist or Underinsured Motorist insurance
This coverage protects you and your vehicle from other drivers when they are uninsured or don’t have enough coverage. It can pay for injuries to you and your family and damage to your Cadillac XLR-V.
Because many people have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
Comprehensive coverage (or Other than Collision)
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as damage from flooding, damage from a tornado or hurricane, vandalism and damage from getting keyed. The maximum payout your car insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Collision protection
This pays for damage to your XLR-V from colliding with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things such as damaging your car on a curb, crashing into a ditch, colliding with another moving vehicle and backing into a parked car. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. You can also bump up the deductible to save money on collision insurance.
Insurance for medical payments
Medical payments and Personal Injury Protection insurance kick in for expenses such as hospital visits, funeral costs, rehabilitation expenses, chiropractic care and pain medications. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants in addition to any family member struck as a pedestrian. PIP coverage is not an option in every state and gives slightly broader coverage than med pay
Liability insurance
Liability insurance protects you from injuries or damage you cause to other people or property in an accident. This insurance protects YOU from claims by other people, and doesn’t cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, $300,000 for the entire accident, and property damage coverage for $100,000.
Liability coverage pays for claims such as bail bonds, medical expenses, repair bills for other people’s vehicles and funeral expenses. How much coverage you buy is up to you, but it’s cheap coverage so purchase as high a limit as you can afford.
Quote often and quote early
As you restructure your insurance plan, it’s a bad idea to reduce needed coverages to save money. There have been many cases where consumers will sacrifice collision coverage only to regret at claim time that it was a big error on their part. The proper strategy is to buy the best coverage you can find at a price you can afford, not the least amount of coverage.
Affordable Cadillac XLR-V insurance can be bought from both online companies and with local insurance agents, so compare prices from both so you have a total pricing picture. Some companies do not offer the ability to get a quote online and these small insurance companies work with independent agents.
