I can’t think of anyone who looks forward to buying auto insurance, especially knowing they are paying too much.
Drivers have multiple insurers to buy insurance from, and although it’s a good thing to have multiple companies, it can be more challenging to find a good deal.
You should make it a habit to price shop coverage every six months because prices change regularly. If you had the best rates a couple years back a different company probably has better rates today. There is a lot of bad advice regarding auto insurance online, so with this article, you’re going to get a lot of great tips on how to reduce your auto insurance bill.
All major auto insurance companies like Allstate, GEICO and Progressive quote prices for coverage online. Getting quotes is pretty painless as you simply type in the amount of coverage you want into the quote form. Once you submit the form, their rating system sends out for your driving record and credit report and generates a price based on these and other factors. Online quotes makes comparing rates easy, but having to visit each company’s website and repetitively enter the same data into a form gets old quite quickly. But it’s very important to have as many quotes as possible in order to get the best price on auto insurance.
Isn’t there an easier way to compare rates?
A quicker way to compare rates is to use a quote form to obtain quotes from multiple companies. The form is fast, eliminates repetitive work, and makes online price comparison much simpler. After sending your information, your coverage is rated and you can choose any one of the quotes returned. If you find a better price it’s easy to complete the application and purchase the new policy. The entire process can be completed in a matter of minutes and you’ll know if lower rates are available.
To compare rates now, click here to open in a new tab and submit the form. If you have a policy now, it’s recommended that you enter your coverages exactly as they are listed on your policy. This makes sure you’re receiving rate quotes for the exact same coverage.
Auto insurance providers like Allstate, GEICO and Progressive constantly bombard you with ads on television and other media. They all make an identical promise that you can save if you switch your coverage to them. How can each company make almost identical claims?
Different companies can use profiling for the right customer that makes them money. For example, a driver they prefer might be between 30 and 50, owns a home, and has great credit. A driver who fits that profile is entitled to the best price and as a result will probably save when they switch companies.
Drivers who don’t meet the “perfect” profile must pay a higher premium which leads to the customer not buying. Company advertisements say “customers who switch” but not “drivers who get quotes” save that much money. That’s the way companies can truthfully make those claims. This illustrates why you should compare many company’s rates. It’s just too difficult to predict which auto insurance company will have the lowest rates.
Companies offering auto insurance don’t list all their discounts in a way that’s easy to find, so we researched some of the more common as well as the least known savings tricks you should be using.
A little note about advertised discounts, many deductions do not apply the the whole policy. Most only apply to specific coverage prices like comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, you won’t be that lucky.
For a list of insurers with discount auto insurance rates in Maine, click here.
When choosing proper insurance coverage for your personal vehicles, there really is not a best way to insure your cars. Everyone’s needs are different and your policy should reflect that. For example, these questions might help in determining if your situation may require specific advice.
If you’re not sure about those questions but you know they apply to you, you may need to chat with an agent. If you don’t have a local agent, simply complete this short form or click here for a list of auto insurance companies in your area.
Learning about specific coverages of your auto insurance policy aids in choosing the best coverages and proper limits and deductibles. The terms used in a policy can be ambiguous and nobody wants to actually read their policy. These are the usual coverages found on most auto insurance policies.
Collision coverage protection
Collision coverage pays for damage to your vehicle resulting from a collision with another car or object. A deductible applies and then insurance will cover the remainder.
Collision can pay for claims like sustaining damage from a pot hole, rolling your car, backing into a parked car, crashing into a ditch and damaging your car on a curb. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are 8 years or older. It’s also possible to increase the deductible to bring the cost down.
Coverage for uninsured or underinsured drivers
This protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. It can pay for medical payments for you and your occupants and damage to your vehicle.
Because many people only carry the minimum required liability limits (50/100/25 in Maine), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is very important.
Auto liability insurance
This coverage will cover damage that occurs to other’s property or people in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 which means a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.
Liability insurance covers things like repair bills for other people’s vehicles, bail bonds, medical expenses and court costs. The amount of liability coverage you purchase is a personal decision, but consider buying higher limits if possible. Maine requires drivers to carry at least 50,000/100,000/25,000 but you should think about purchasing better liability coverage.
Coverage for medical expenses
Personal Injury Protection (PIP) and medical payments coverage pay for expenses like pain medications, hospital visits and doctor visits. The coverages can be used to cover expenses not covered by your health insurance plan or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal Injury Protection is not an option in every state but can be used in place of medical payments coverage
Comprehensive auto insurance
Comprehensive insurance pays for damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers things like vandalism, a tree branch falling on your vehicle, rock chips in glass, fire damage and theft. The maximum amount your auto insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Additional detailed information can be read at the Maine Bureau of Insurance website. Consumers can read state legal mandates and laws, file complaints about a company, learn about specific coverages, and find disaster information.
As you restructure your insurance plan, you should never reduce needed coverages to save money. In many instances, an accident victim reduced collision coverage to discover at claim time that the few dollars in savings costed them thousands. The ultimate goal is to get the best coverage possible at a price you can afford while still protecting your assets.
In this article, we presented a lot of information how to save on auto insurance. It’s most important to understand that the more you quote, the higher your chance of finding lower rates. Consumers may even find the lowest priced auto insurance comes from a smaller regional carrier. These companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate and Progressive.
Lower-priced auto insurance is attainable from both online companies and with local Waterville insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some insurance providers do not offer online price quotes and many times these smaller companies only sell through independent insurance agents.