Are you sick and tired of paying out the nose to insure your vehicles every month? You’re in the same situation as many other North Carolina drivers.
Drivers have so many insurers to pick from, and even though it’s nice to be able to choose, it makes it harder to locate the cheapest rates.
It’s a great practice to take a look at other company’s rates yearly since rates change quite often. Just because you found the best rates six months ago you can probably find a lower rate today. There is too much inaccurate information about auto insurance on the internet, so with this article, you’re going to get the easiest ways to slash your auto insurance rates.
Car insurance companies don’t always publicize all available discounts in an easy-to-find place, so here is a list some of the best known and the more hidden discounts you could be receiving.
A little note about advertised discounts, some credits don’t apply to your bottom line cost. Some only reduce specific coverage prices like comp or med pay. Just because it seems like you would end up receiving a 100% discount, you’re out of luck.
To see a list of insurance companies offering auto insurance discounts in Fayetteville, follow this link.
Most major insurance companies allow you to get insurance quotes on their websites. This process is pretty painless as you just enter your coverage information into a form. When complete, their system collects credit information and your driving record and generates pricing information based on many factors. Being able to quote online streamlines rate comparisons, but the time it takes to visit a lot of sites and enter the same data into a form can be a bit tiresome and repetitive. But it’s very important to perform this step if you want to find a better rate.
A more efficient way to compare rates utilizes a single form to return rates from a lot of companies. The form is fast, requires less work, and makes online quotes much simpler. After your information is entered, it is rated and you are able to buy any or none of the price quotes you receive. If you find a better price you can click and sign and purchase coverage. It takes just a few minutes to complete and you will know how your current rates stack up.
To quickly compare rates now, click here to open in a new tab and submit the form. If you currently have coverage, we recommend you enter the limits and deductibles as close as possible to your current policy. Doing this assures you will have a price comparison for similar coverage.
Having a good grasp of your auto insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Policy terminology can be confusing and even agents have difficulty translating policy wording. These are typical coverage types offered by auto insurance companies.
Collision coverage – This coverage will pay to fix damage to your vehicle resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage protects against things such as colliding with another moving vehicle, crashing into a ditch, backing into a parked car, hitting a parking meter and sustaining damage from a pot hole. This coverage can be expensive, so consider removing coverage from older vehicles. Drivers also have the option to choose a higher deductible to save money on collision insurance.
Comprehensive coverage – This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for claims such as hitting a bird, falling objects, a broken windshield and fire damage. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Liability car insurance – This coverage protects you from injuries or damage you cause to a person or their property that is your fault. It protects you against other people’s claims. Liability doesn’t 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 might see values of 25/50/25 that means you have a limit of $25,000 per injured person, $50,000 for the entire accident, and $25,000 of coverage for damaged propery.
Liability coverage protects against claims such as structural damage, loss of income and pain and suffering. The amount of liability coverage you purchase is a decision to put some thought into, but buy as large an amount as possible. North Carolina requires minimum liability limits of 30,000/60,000/25,000 but you should consider buying more liability than the minimum.
Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your vehicle.
Since a lot of drivers only purchase the least amount of liability that is required (30/60/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked.
Medical payments coverage and PIP – Coverage for medical payments and/or PIP pay for immediate expenses like prosthetic devices, ambulance fees and nursing services. The coverages can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover you and your occupants and will also cover getting struck while a pedestrian. Personal Injury Protection is not universally available but can be used in place of medical payments coverage
We’ve covered a lot of information how to reduce auto insurance prices online. The key thing to remember is the more times you quote, the higher the chance of saving money. You may be surprised to find that the best prices are with the smaller companies. Smaller companies may cover specific market segments cheaper than their larger competitors like Progressive and GEICO.
Cheap auto insurance is definitely available on the web and with local Fayetteville insurance agents, so you should be comparing quotes from both to have the best rate selection. Some insurance providers do not offer online quoting and usually these small, regional companies provide coverage only through local independent agents.
When buying insurance coverage, make sure you don’t skimp on coverage in order to save money. There have been many cases where an insured cut collision coverage to discover at claim time that the few dollars in savings costed them thousands. The proper strategy is to buy enough coverage at a price you can afford, not the least amount of coverage.