Have you fallen victim to an underperforming, overpriced car insurance policy? Trust us, you’re not alone.
There are many auto insurance companies to purchase coverage from, and although it’s a good thing to have a selection, it can be more challenging to compare company pricing.
It’s important to price shop coverage periodically because prices are rarely the same from one policy term to another. Despite the fact that you may have had the best deal a year ago you can probably find a better price now. Starting right now, ignore everything you know about car insurance because it’s time to teach you the proper way to save on car insurance.
Choosing the best insurance company for you in Clay is not rocket science. Basically, every vehicle owner who buys car insurance most likely will be able to find lower rates. Nevertheless, New York car owners should learn how insurance companies market on the web and take advantage of how the system works.
Companies that sell car insurance don’t necessarily list every discount in an easy-to-find place, so we researched both the well known as well as the least known car insurance savings.
Consumers should know that most discount credits are not given to the entire policy premium. Most only cut the price of certain insurance coverages like medical payments or collision. So even though they make it sound like you would end up receiving a 100% discount, you’re out of luck.
To choose companies with discount car insurance rates in Clay, click here.
Car insurance companies such as GEICO, State Farm and Progressive constantly bombard you with television and radio advertisements. They all seem to make an identical promise about savings if you switch your policy. But how can every company make almost identical claims? It’s all in the numbers.
All the different companies can use profiling for the type of customer that is profitable for them. An example of a profitable customer might be between 25 and 40, has no tickets, and drives less than 10,000 miles a year. Any new insured who matches those parameters will get the preferred rates and as a result will probably save quite a bit of money when switching.
Drivers who don’t measure up to the requirements will be quoted a more expensive rate and ends up with the driver buying from a lower-cost company. The ads say “customers who switch” not “everyone that quotes” save that much. That’s the way companies can truthfully advertise the savings. This emphasizes why drivers must compare many company’s rates. It’s impossible to know which insurance companies will have the lowest rates.
Even more information is located at the New York Department of Financial Services website. New York consumers can download brochures, learn about insurance regulations, and report car insurance fraud.
The articles below may also help you learn more about car insurance in Clay
Learning about specific coverages of car insurance can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be difficult to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages found on most car insurance policies.
Comprehensive insurance – Comprehensive insurance pays for damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for things such as hail damage, a broken windshield, hitting a deer and damage from getting keyed. The most your car insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Liability insurance – Liability insurance provides protection from injuries or damage you cause to people or other property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.
Liability coverage pays for claims such as emergency aid, repair bills for other people’s vehicles, loss of income and pain and suffering. The amount of liability coverage you purchase is your choice, but you should buy higher limits if possible. New York requires minimum liability limits of 25,000/50,000/10,000 but you should consider buying more coverage.
Collision coverage – Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things like scraping a guard rail, crashing into a ditch, colliding with another moving vehicle, colliding with a tree and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. Drivers also have the option to choose a higher deductible to save money on collision insurance.
Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your vehicle.
Because many people only carry the minimum required liability limits (25/50/10), their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.
Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP provide coverage for immediate expenses for X-ray expenses, hospital visits, surgery, dental work and prosthetic devices. They can be used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and also covers getting struck while a pedestrian. PIP is not universally available and may carry a deductible
When trying to cut insurance costs, never buy less coverage just to save a little money. There are many occasions where someone sacrificed uninsured motorist or liability limits and found out when filing a claim that it was a big mistake. The proper strategy is to buy enough coverage at a price you can afford while still protecting your assets.
Budget-conscious car insurance is definitely available from both online companies in addition to many Clay insurance agents, so you should compare both to have the best rate selection. Some car insurance companies do not provide the ability to get a quote online and these smaller companies work with independent agents.