I can’t think of anyone who enjoys paying for car insurance, especially when their premiums are too high. You have multiple insurers to insure vehicles with, and although it’s nice to have multiple companies, it makes it harder to locate the cheapest rates.
It’s a good idea to shop coverage around quite often due to the fact that insurance rates are rarely the same from one policy term to another. Just because you found the lowest rates a couple years back there is a good chance you can find better rates now. Block out anything you think you know about car insurance because you’re about to find out the things you must know in order to get good coverage at a lower rate.
Finding the best car insurance rates in Rochester is quite easy. If you are insured now or need a new policy, you can learn to find the best rates while maximizing coverage. Minnesota consumers just need to understand the best way to find the lowest price online.
Getting a lower price on insurance is not rocket science. All that’s required is to invest a few minutes getting comparison quotes from different insurance companies. This is very easy and can be done in just a few minutes using one of these methods.
For a list of links to insurance companies in Rochester, click here.
It’s up to you how you get prices quotes, just make absolute certain that you use identical coverages and limits for every quote you compare. If each company quotes differing limits you will not be able to make an equal comparison in Rochester.
Companies don’t always advertise every discount very well, so we break down some of the more common as well as the least known ways to save on car insurance. If you don’t get every credit you deserve, you’re paying more than you need to.
A little note about advertised discounts, many deductions do not apply to the entire policy premium. Some only reduce individual premiums such as comp or med pay. So despite the fact that it appears all the discounts add up to a free policy, car insurance companies aren’t that generous.
Knowing the specifics of your policy can help you determine the best coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverages available from car insurance companies.
This pays for damage to your vehicle resulting from a collision with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for claims like scraping a guard rail, sideswiping another vehicle, rolling your car and hitting a mailbox. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. It’s also possible to raise the deductible to bring the cost down.
Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for claims like falling objects, hitting a bird and damage from a tornado or hurricane. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like EMT expenses, prosthetic devices, nursing services, hospital visits and funeral costs. They can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. They cover you and your occupants as well as any family member struck as a pedestrian. PIP is not available in all states and may carry a deductible
Liability insurance protects you from damage that occurs to people or other property that is your fault. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 50/100/50 that means you have a limit of $50,000 per injured person, $100,000 for the entire accident, and property damage coverage for $50,000.
Liability coverage protects against things like pain and suffering, emergency aid, medical services and legal defense fees. How much coverage you buy is a personal decision, but you should buy as large an amount as possible. Minnesota requires minimum liability limits of 30,000/60,000/10,000 but you should consider buying more coverage.
Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries to you and your family as well as your vehicle’s damage.
Since a lot of drivers carry very low liability coverage limits (which is 30/60/10), it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.
More detailed Minnesota car insurance information is located at the Minnesota Department of Commerce website. Minnesota consumers can learn about insurance regulations, read industry bulletins, find out industry alerts, and view a list of available companies.