I can’t think of anyone who likes paying for car insurance, especially when they are paying too much.
With consumers having so many online and local companies to choose from, it is hard for the average consumer to find the cheapest provider.
Auto insurance companies don’t always list every discount very clearly, so we break down both the well known and also the lesser-known ways to save on car insurance.
As a disclaimer on discounts, some credits don’t apply the the whole policy. Most only reduce individual premiums such as comprehensive or collision. So even though it sounds like you can get free auto insurance, it just doesn’t work that way.
To find the best car insurance prices, there are several ways of comparing rates from different in Erie, Pennsylvaniainsurance companies. One of the best ways to find the cheapest insurance rates consists of shopping online. This can be done in just a few minutes using one of these methods.
For a list of links to insurance companies in Erie, click here.
Which method you use is up to you, but make darn sure you compare the exact same deductibles and coverage limits on every quote you get. If your comparisons have different liability limits it will be very difficult to determine the lowest rate in Erie. Just a small difference in coverages can make a big difference in price. And when quoting car insurance, remember that more quotes gives you a better chance of getting the best price.
Having a good grasp of your car insurance policy can be of help when determining which coverages you need and the correct deductibles and limits. Policy terminology can be impossible to understand and nobody wants to actually read their policy. Below you’ll find typical coverage types available from car insurance companies.
This coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims such as damaging your car on a curb, rolling your car and crashing into a building. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible in order to get cheaper collision rates.
Liability insurance protects you from damages or injuries you inflict on a person or their property that is your fault. It protects you against claims from other people. It does not cover damage to your own property or vehicle.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/25 that translate to $25,000 bodily injury coverage, $50,000 for the entire accident, and property damage coverage for $25,000.
Liability coverage protects against things such as medical services, repair bills for other people’s vehicles, attorney fees, loss of income and medical expenses. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as much as you can afford. Pennsylvania state minimum liability requirements are 15,000/30,000/5,000 but drivers should carry more liability than the minimum.
Med pay and Personal Injury Protection (PIP)
Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like funeral costs, hospital visits, rehabilitation expenses and chiropractic care. They are used to cover expenses not covered by your health insurance program or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive can pay for things like rock chips in glass, hail damage, hitting a bird, damage from a tornado or hurricane and damage from flooding. The highest amount you can receive from a comprehensive claim 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.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Because many people only carry the minimum required liability limits (which is 15/30/5), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.
Lower-priced car insurance can be sourced online and also from your neighborhood Erie agents, and you should compare price quotes from both to get a complete price analysis. A few companies may not provide you the ability to get quotes online and usually these regional insurance providers provide coverage only through local independent agents.
While you’re price shopping online, it’s very important that you do not reduce needed coverages to save money. Too many times, drivers have reduced collision coverage only to regret at claim time that it was a big mistake. Your focus should be to buy enough coverage at a price you can afford while still protecting your assets.