Being forced to pay for overpriced auto insurance premiums can bleed your funds, especially in this economy. Doing a rate comparison is free and is an excellent way to make sure you’re not throwing money away.
With so many choices, it is hard for the average consumer to choose the cheapest auto insurance company.
It’s smart to shop coverage around every six months because rates change frequently. Just because you found the best deal on Ion coverage a couple years back you will most likely find a better price today. Block out anything you think you know about auto insurance because we’re going to demonstrate how to use the internet to eliminate unnecessary coverages and save money.
Are you earning every discount?
Not too many consumers would say auto insurance is affordable, but you might be missing out on some discounts that you may not know about. Certain credits will be shown when you complete an application, but a few must be inquired about prior to getting the savings.
- Senior Citizens – Older drivers may qualify for better auto insurance rates on Ion coverage.
- Student in College – Any of your kids who live away from home to go to college without a vehicle on campus may qualify for this discount.
- Discount for Swiching Early – Some companies give discounts for switching companies prior to the expiration date on your current policy. Ten percent is about the average savings.
- Discounts for New Vehicles – Insuring a vehicle that is new may earn a small discount compared to insuring an older model.
- ABS Brakes – Anti-lock brake equipped vehicles are much safer to drive and therefore earn up to a 10% discount.
- Accident Forgiveness Coverage – Not necessarily a discount, but some companies like Progressive, Allstate, and GEICO permit an accident without raising rates if your claims history is clear prior to the accident.
- Good Student Discount – This discount can earn a discount of 20% or more. Most companies allow this discount up to age 25.
- Clubs and Organizations – Joining a professional or civic organization is a simple method to lower premiums on your next auto insurance statement.
- Theft Deterent Discount – Anti-theft and alarm system equipped vehicles help deter theft and will qualify for a discount on a .
Discounts lower rates, but most credits do not apply to the entire policy premium. A few only apply to the cost of specific coverages such as liability and collision coverage. Just because you may think you would end up receiving a 100% discount, it doesn’t quite work that way.
A list of companies and a selection of discounts are included below.
- GEICO offers premium reductions for driver training, defensive driver, air bags, emergency military deployment, multi-vehicle, anti-theft, and five-year accident-free.
- MetLife may have discounts that include good driver, multi-policy, good student, accident-free, claim-free, and defensive driver.
- Progressive has discounts for multi-vehicle, multi-policy, continuous coverage, online quote discount, and good student.
- Travelers may offer discounts for new car, multi-policy, continuous insurance, payment discounts, hybrid/electric vehicle, driver training, and early quote.
- SAFECO policyholders can earn discounts including anti-lock brakes, homeowner, multi-car, bundle discounts, and teen safe driver.
- AAA offers discounts for anti-theft, education and occupation, multi-car, good driver, and pay-in-full.
Double check with all companies you are considering to apply every possible discount. Some discounts may not be offered in your area. If you would like to view insurers with discount rates, follow this link.
Information about specific coverages
Understanding the coverages of your policy aids in choosing which coverages you need and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Listed below are typical coverages offered by auto insurance companies.
Uninsured/Underinsured Motorist coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your Saturn Ion.
Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.
Collision insurance
This coverage will pay to fix damage to your Ion from colliding with an object or car. You will need to pay your deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things such as sideswiping another vehicle, hitting a parking meter and rolling your car. This coverage can be expensive, so consider removing coverage from lower value vehicles. It’s also possible to raise the deductible to get cheaper collision coverage.
Coverage for liability
This coverage protects you from damages or injuries you inflict on other’s property or people that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000.
Liability can pay for things such as structural damage, emergency aid, repair bills for other people’s vehicles, loss of income and court costs. How much liability coverage do you need? That is up to you, but consider buying higher limits if possible.
Comprehensive coverage
This covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for claims like damage from a tornado or hurricane, vandalism, hail damage and falling objects. The most you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Medical payments coverage and PIP
Med pay and PIP coverage pay for expenses for things like dental work, hospital visits, doctor visits and X-ray expenses. They are often used to fill the gap from your health insurance plan or if you are not covered by health insurance. Coverage applies to both the driver and occupants and also covers getting struck while a pedestrian. PIP is not universally available but it provides additional coverages not offered by medical payments coverage
Compare but don’t skimp
You just learned many tips how you can reduce Saturn Ion insurance car insurance rates online. The most important thing to understand is the more rate quotes you have, the better chance you’ll have of finding . Consumers could even find that the lowest car insurance rates are with a company that doesn’t do a lot of advertising. These companies can often insure niche markets at a lower cost compared to the large companies like Allstate, GEICO and Progressive.
When you , never skimp on coverage in order to save money. Too many times, drivers have reduced liability coverage limits only to regret at claim time that they should have had better coverage. The proper strategy is to buy enough coverage at a price you can afford and still be able to protect your assets.
