6 Ways You Can Buy Car Insurance for Less in Oxford

Expensive car insurance can take a big chunk out of your checking account, especially in this economy. Comparing price quotes is a smart way to lower your monthly bill.

Multiple insurance companies compete for your hard-earned dollar, and because of this it can be hard to compare car insurance companies to discover the definitive best rate

How to Lower Your Car Insurance Cost in Oxford, MS

There are a lot of ways to shop for car insurance, and some are less time-consuming than others. You could spend your day driving to insurance companies in Oxford, or you can stay home and use the web to quickly compare rates.

All the larger companies take part in a program that allows shoppers to enter their coverage request one time, and every company returns a competitive quote based on that information. This system prevents you from having to do quotation requests to each company. To find out how much you can save on car insurance click to open in new window.

The single downside to pricing coverage this way is you don’t know exactly the providers you will receive quotes from. If you prefer to choose specific providers to receive pricing from, we put together a list of low cost car insurance companies in Mississippi. View list of Mississippi insurance companies.

It doesn’t matter which method you choose, just ensure you are comparing apples-to-apples information on every quote. If you compare higher or lower deductibles it will be impossible to determine the lowest rate in Oxford. Just a small difference in coverage limits can mean a large discrepancy in price. And when comparing car insurance rates, know that obtaining a wide range of quotes will enable you to find the best price.

The car insurance bait and switch

Allstate, GEICO and Progressive consistently run television and radio advertisements. All the companies say the same thing of big savings if you change your policy. But how can every company make the same claim? This is how they do it.

All companies are able to cherry pick for the right customer that makes them money. A good example of a desirable insured could possibly be between 30 and 50, has no tickets, and has great credit. A driver that hits that “sweet spot” will get the preferred rates and most likely will save when they switch companies.

Consumers who don’t measure up to the requirements must pay more money and ends up with business going elsewhere. Company advertisements say “customers that switch” not “people who quote” save that kind of money. That is how insurance companies can state the savings.

This illustrates why drivers must quote coverage with many companies. You cannot predict the company that will give you the biggest savings.

Cut your car insurance rates with these six discounts

Insuring your vehicles can cost a lot, but you can get discounts that you may not know about. Some discounts apply automatically at quote time, but a few must be manually applied before they will apply.save money in Mississippi

  • Lower Rates for Military – Having a deployed family member could be rewarded with lower premiums.
  • Organization Discounts – Being a member of a professional or civic organization could trigger savings on your policy.
  • Homeowners Pay Less – Being a homeowner can help you save on car insurance because owning a home shows financial diligence.
  • No Accidents – Good drivers with no accidents can save substantially as compared to frequent claim filers.
  • Discount for Life Insurance – Some companies give better rates if you take out life insurance.
  • Bundle and Save – When you combine your home and auto insurance with one company you will save at least 10% off all policies.

As a disclaimer on discounts, most credits do not apply to the entire policy premium. Some only apply to individual premiums such as physical damage coverage or medical payments. Just because it seems like all those discounts means the company will pay you, you won’t be that lucky. Any qualifying discounts will help reduce your premiums.

For a list of providers offering car insurance discounts in Mississippi, click here to view.

Car insurance policy specifics

Having a good grasp of your car insurance policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverage types offered by car insurance companies.

Liability insurance – Liability insurance protects you from damages or injuries you inflict on other people or property by causing an accident. This coverage protects you from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/25 that translate to a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $25,000. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things such as repair bills for other people’s vehicles, loss of income, pain and suffering, legal defense fees and emergency aid. How much liability should you purchase? That is a decision to put some thought into, but consider buying as large an amount as possible. Mississippi state minimum liability requirements are 25,000/50,000/25,000 but drivers should carry higher limits.

Collision coverage – Collision insurance pays for damage to your vehicle caused by collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like sustaining damage from a pot hole, colliding with a tree, hitting a parking meter and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. It’s also possible to choose a higher deductible to save money on collision insurance.

Protection from uninsured/underinsured drivers – This protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your vehicle.

Due to the fact that many Mississippi drivers only carry the minimum required liability limits (25/50/25 in Mississippi), their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Frequently the UM/UIM limits do not exceed the liability coverage limits.

Medical expense insurance – Coverage for medical payments and/or PIP kick in for bills for things like nursing services, ambulance fees, dental work and rehabilitation expenses. They can be used in conjunction with a health insurance plan or if you do not have health coverage. Medical payments and PIP cover you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is only offered in select states and may carry a deductible

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Comprehensive (Other than Collision) – Comprehensive insurance covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage pays for claims like damage from flooding, rock chips in glass and fire damage. The highest amount your car insurance company will pay is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Additional information can be read on the website for the Mississippi Insurance Department. Click here for link. Visitors are able to get help finding coverage, read industry bulletins, and find disaster information.

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Best coverage at the best price

We’ve covered a lot of tips how to lower your car insurance rates. The key thing to remember is the more rate comparisons you have, the better your comparison will be. Drivers may discover the biggest savings come from some of the lesser-known companies. Smaller companies may cover specific market segments cheaper compared to the large companies like State Farm, GEICO and Nationwide.

While you’re price shopping online, do not buy poor coverage just to save money. There have been many situations where consumers will sacrifice uninsured motorist or liability limits only to regret they didn’t have enough coverage. Your strategy should be to purchase plenty of coverage for the lowest price while still protecting your assets.