10 Ways to Get Lower Rates on Car Insurance in Pearl Mississippi
Are you overwhelmed by the number of car insurance company choices in Pearl? Many other consumers are too. People have so many options available that it can be a ton of work to find better rates.
You should take the time to take a look at other company’s rates at least once a year because rates are rarely the same from one policy term to another. Just because you had the lowest rates a couple years back you may be paying too much now. Forget anything you know (or think you know) about car insurance because you’re about to learn how to quote online to get good coverage at a lower rate.
This article will help you learn the best way to quote coverages and some tricks to saving. If you have car insurance now, you stand a good chance to be able to reduce your rates substantially using these tips. Mississippi drivers only need an understanding of the best way to shop their coverage around online.
Save big with these ten discounts
Car insurance is not cheap, but companies offer discounts to reduce the price significantly. Some discounts apply automatically at the time of quoting, but less common discounts must be inquired about before you get the savings. If you aren’t receiving every discount possible, you are throwing money away.
- Seat Belt Usage – Using a seat belt and requiring all passengers to wear their seat belts could save 15% on the medical payments or PIP coverage costs.
- Payment Method – If you pay your entire premium ahead of time instead of monthly or quarterly installments you could save 5% or more.
- Federal Employees – Being employed by or retired from a federal job could cut as much as 10% off with select insurance companies.
- Braking Control Discount – Vehicles with anti-lock braking systems can reduce accidents and earn discounts up to 10%.
- Passive Restraints and Air Bags – Vehicles with factory air bags and/or automatic seat belt systems can receive discounts of up to 25% or more.
- Theft Prevention System – Vehicles with anti-theft systems can help prevent theft and earn discounts up to 10%.
- Discount for Life Insurance – Larger companies have a discount if you purchase life insurance.
- Student in College – Kids in college who live away from home without a vehicle on campus can receive lower rates.
- Organization Discounts – Being a member of a qualifying organization could trigger savings when shopping for car insurance.
- No Claims – Drivers with accident-free driving histories can earn big discounts when compared to drivers who are more careless.
As a disclaimer on discounts, many deductions do not apply to all coverage premiums. Most only reduce the cost of specific coverages such as liability and collision coverage. So when it seems like all those discounts means the company will pay you, it just doesn’t work that way. Any qualifying discounts will cut your overall premium however.
For a list of providers with the best car insurance discounts in Pearl, click this link.
Misconceptions in car insurance advertisements
Consumers can’t ignore all the ads for car insurance savings by companies like Progressive, GEICO, Allstate and State Farm. All the ads say the same thing about savings if you move to them.
How does each company make the same claim? It’s all in the numbers.
Different companies have a certain “appetite” for the type of customer that makes them money. A good example of a profitable customer could be over the age of 40, owns a home, and drives less than 10,000 miles a year. Any new insured who matches those parameters receives the best rates and therefore will save when switching.
Potential customers who fall outside the “perfect” profile will be charged higher premiums which leads to business going elsewhere. The ads state “customers who switch” not “everyone that quotes” save that kind of money. This is how companies can advertise the way they do.
That is why it is so important to get as many quotes as possible. It’s not possible to predict the company that will have the lowest rates.
Additional resources for Mississippi consumers
Additional car insurance information can be read on the Mississippi Insurance Department website found here. Mississippi consumers can read industry bulletins, find out which companies have the most complaints, and find disaster information.
Other informative sites include NAIC.org’s Understanding your Policy and this page where you can research Pearl insurance agents.
Car insurance coverage specifics
Learning about specific coverages of car insurance can help you determine the best coverages at the best deductibles and correct limits. The coverage terms in a policy can be confusing and even agents have difficulty translating policy wording.
Comprehensive (Other than Collision)
Comprehensive insurance pays for damage that is not covered by collision coverage. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against claims such as vandalism, fire damage, a tree branch falling on your vehicle, hitting a bird and falling objects. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle is not worth much it’s not worth carrying full coverage.
Liability auto insurance
Liability insurance provides protection from damage that occurs to a person or their property. It protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.
Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Some companies may use a combined single limit or CSL which provides one coverage limit with no separate limits for injury or property damage.
Liability can pay for things like pain and suffering, bail bonds, medical services, repair costs for stationary objects and court costs. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase higher limits if possible. Mississippi requires minimum liability limits of 25,000/50,000/25,000 but you should consider buying more liability than the minimum.
Collision protection
This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things like damaging your car on a curb, sideswiping another vehicle, sustaining damage from a pot hole, crashing into a building and driving through your garage door. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Drivers also have the option to choose a higher deductible to save money on collision insurance.
Medical expense insurance
Med pay and PIP coverage kick in for immediate expenses for dental work, chiropractic care, doctor visits, nursing services and hospital visits. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Coverage applies to all vehicle occupants as well as if you are hit as a while walking down the street. PIP coverage is not universally available and gives slightly broader coverage than med pay
Protection from uninsured/underinsured drivers
This gives you protection when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since many Mississippi drivers only purchase the least amount of liability that is required (25/50/25 in Mississippi), their limits can quickly be used up. For this reason, having high UM/UIM coverages is very important. Frequently these coverages are identical to your policy’s liability coverage.
Final thoughts
Cheap car insurance is possible online as well as from independent agents in Pearl, so you should be comparing quotes from both in order to have the best chance of saving money. Some insurance providers don’t offer online quoting and many times these small, regional companies only sell through independent insurance agents.
When trying to cut insurance costs, don’t be tempted to sacrifice coverage to reduce premiums. In too many instances, consumers will sacrifice liability coverage limits and learned later that the few dollars in savings costed them thousands. Your focus should be to find the BEST coverage at a price you can afford while still protecting your assets.
Consumers change insurance companies for a number of reasons such as high rates after DUI convictions, policy non-renewal, lack of trust in their agent or policy cancellation. It doesn’t matter what your reason, choosing a new insurance company can be easy and end up saving you some money.