Having to pay for overpriced car insurance can overdraw your bank account and make it impossible to make ends meet. Doing a price comparison is a great way to lower your monthly bill.
Having so many options, it can be impossible to find the lowest price insurer.
Companies that sell car insurance don’t always advertise all available discounts in an easy-to-find place, so we took the time to find both well-publicized as well as the least known car insurance savings.
Drivers should understand that most credits do not apply to the entire policy premium. Most cut the price of certain insurance coverages like collision or personal injury protection. Even though it may seem like you could get a free car insurance policy, you won’t be that lucky.
When choosing adequate coverage, there really is no “perfect” insurance plan. Everyone’s needs are different and your policy should reflect that. Here are some questions about coverages that might point out whether your personal situation might need professional guidance.
If it’s difficult to answer those questions, you might consider talking to a licensed agent. To find lower rates from a local agent, complete this form or you can also visit this page to select a carrier
GEICO, State Farm and Progressive continually stream television and radio advertisements. All the companies say the same thing that you can save after switching to their company. How do they all say the same thing?
All companies can use profiling for the right customer that makes them money. An example of a profitable customer could be between 25 and 40, is a homeowner, and drives newer vehicles. A customer getting a price quote that hits that “sweet spot” will get very good rates and most likely will cut their rates substantially.
Potential insureds who don’t meet the “perfect” profile must pay higher prices which usually ends up with the customer not buying. The ad wording is “drivers who switch” not “everyone that quotes” save that kind of money. That’s why insurance companies can confidently advertise the way they do. This illustrates why you absolutely need to get a wide range of price quotes. Because you never know the company that will provide you with the cheapest rates.
Even more information is available at the Georgia Insurance and Safety Fire Commissioner website. Georgia consumers can view a list of available companies, read enforcement actions against agents and companies, learn about insurance regulations, and report car insurance fraud.
Having a good grasp of your policy aids in choosing which coverages you need and proper limits and deductibles. Policy terminology can be ambiguous and nobody wants to actually read their policy. Below you’ll find typical coverage types available from car insurance companies.
Comprehensive insurance pays to fix your vehicle from damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers claims such as damage from a tornado or hurricane, vandalism and fire damage. The highest amount your car insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much it’s probably time to drop comprehensive insurance.
Liability insurance protects you from damages or injuries you inflict on people or other property by causing an accident. It protects you from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 25/50/25 which stand for a limit of $25,000 per injured person, $50,000 for the entire accident, and property damage coverage for $25,000.
Liability coverage protects against things such as legal defense fees, repair bills for other people’s vehicles, pain and suffering and court costs. The amount of liability coverage you purchase is a personal decision, but buy as large an amount as possible. Georgia state law requires minimum liability limits of 25,000/50,000/25,000 but it’s recommended drivers buy more coverage.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance reimburse you for expenses such as EMT expenses, prosthetic devices, surgery and funeral costs. The coverages can be used to fill the gap from your health insurance plan or if you lack health insurance entirely. It covers both the driver and occupants and also covers any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Uninsured and underinsured coverage
This protects you and your vehicle when the “other guys” either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries and also any damage incurred to your vehicle.
Since a lot of drivers have only the minimum liability required by law (25/50/25 in Georgia), their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.
This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as hitting a parking meter, scraping a guard rail, colliding with a tree and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Drivers also have the option to raise the deductible to get cheaper collision coverage.
Low-cost car insurance can be purchased online and with local Savannah insurance agents, and you need to comparison shop both so you have a total pricing picture. There are still a few companies who do not offer online quoting and many times these smaller companies only sell through independent insurance agents.
When trying to cut insurance costs, it’s very important that you do not skimp on critical coverages to save a buck or two. There have been many situations where an insured cut comprehensive coverage or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to buy enough coverage for the lowest price.