Paying for high-priced auto insurance can drain your checking account and force you to prioritize other expenses. Doing a price comparison is a great way to cut your insurance bill.
Numerous insurance companies battle for your hard-earned dollar, so it can be very hard to choose a insurance company and get the best coverage at the lowest rate possible.
If you currently have a car insurance policy, you stand a good chance to be able to lower your premiums substantially using this information. Finding the best rates in Shreveport is easy if you know what you’re doing. But Louisiana drivers must learn the methods companies use to market insurance on the web.
A little note about advertised discounts, most discount credits are not given to all coverage premiums. Most only cut individual premiums such as liability and collision coverage. Even though it may seem like you can get free auto insurance, it just doesn’t work that way.
To see a list of providers with discount auto insurance rates in Louisiana, click here to view.
Knowing the specifics of your auto insurance policy can help you determine the best coverages and proper limits and deductibles. The terms used in a policy can be confusing and reading a policy is terribly boring. Shown next are typical coverages available from auto insurance companies.
Medical expense insurance – Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for EMT expenses, doctor visits and chiropractic care. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. Coverage applies to all vehicle occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not universally available and may carry a deductible
Comprehensive (Other than Collision) – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as hitting a bird, fire damage and vandalism. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Protection from uninsured/underinsured drivers – Your UM/UIM coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your vehicle.
Because many people have only the minimum liability required by law (15/30/25), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea.
Liability auto insurance – This will cover damage that occurs to a person or their 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. You might see liability limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability can pay for things like structural damage, medical services, court costs, funeral expenses and medical expenses. The amount of liability coverage you purchase is a personal decision, but buy as high a limit as you can afford. Louisiana state minimum liability requirements are 15,000/30,000/25,000 but drivers should carry more liability than the minimum.
Collision coverages – Collision insurance covers damage to your vehicle resulting from a collision with an object or car. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like hitting a mailbox, backing into a parked car, driving through your garage door and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. Drivers also have the option to increase the deductible to save money on collision insurance.
More detailed Louisiana auto insurance information can be read at the Louisiana Department of Insurance website. Louisiana consumers can view agent and company licensing information, find out industry alerts, and read state legal mandates and laws.
As you prepare to switch companies, you should never skimp on coverage in order to save money. There are many occasions where an insured cut uninsured motorist or liability limits and found out when filing a claim that their decision to reduce coverage ended up costing them more. Your focus should be to purchase plenty of coverage at a price you can afford while not skimping on critical coverages.
You just read some good ideas how to save on auto insurance. The key concept to understand is the more price quotes you have, the more likely it is that you will get a better rate. You may even discover the lowest premiums are with a company that doesn’t do a lot of advertising. These smaller insurers may cover specific market segments cheaper than their larger competitors like Allstate or State Farm.
Lower-priced auto insurance can be found online and also from your neighborhood Shreveport agents, and you should compare price quotes from both in order to have the best price selection to choose from. Some auto insurance companies may not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.