Scraping up a payment for overpriced auto insurance can overdraw your checking account and put a big crunch on your finances. Shopping your coverage around is a smart way to lower your monthly bill.
Many insurance companies compete to insure your vehicles, so it’s not easy to compare every insurance company and get the best coverage at the lowest rate
It’s a good habit to shop coverage around periodically due to the fact that insurance rates change frequently. Even if you got the lowest price last year you can probably find a lower rate today. Forget all the misinformation about auto insurance because I’m going to let you in on the secrets to the right way to properly buy coverages while reducing your premium.
If you currently have a car insurance policy, you should be able to cut costs considerably using this information. Choosing the best insurance company for you in South Jordan is not rocket science. Although Utah vehicle owners do need to understand how insurance companies compete online and apply this information to your search.
Properly insuring your vehicles can get expensive, but there are discounts available to reduce the price significantly. Larger premium reductions will be automatically applied when you quote, but some must be asked about before you get the savings.
Keep in mind that most discount credits are not given to the entire cost. A few only apply to the price of certain insurance coverages like collision or personal injury protection. So when it seems like all those discounts means the company will pay you, it just doesn’t work that way. But all discounts will reduce your premiums.
To see a list of insurance companies who offer auto insurance discounts in South Jordan, click here to view.
All major auto insurance companies give prices directly from their websites. Getting online quotes is quite easy as you simply enter the coverages you want into a form. After you submit the form the system gets reports for credit and driving violations and generates pricing information based on many factors. This streamlines rate comparisons, but the work required to visit different websites and enter the same data into a form is monotonous and tiresome. Unfortunately, it is important to get many rate quotes in order to find the lowest price.
A quicker way to lower your rates uses one simple form that gets price quotes from a bunch of companies at once. It saves time, eliminates form submissions, and makes online price comparison a little more enjoyable. Once the form is submitted, it gets priced with multiple companies and you can pick any or none of the quote results.
If you find a better price you simply finish the application and buy the new coverage. The entire process just takes a couple of minutes and you will know how your current rates stack up.
To quickly compare pricing, simply click here to open in new window and fill out the form. To compare your current rates, we recommend you complete the form with the coverages identical to your current policy. This guarantees you will get rate quotes using the exact same coverages.
Learning about specific coverages of a auto insurance policy can help you determine the right coverages at the best deductibles and correct limits. The coverage terms in a policy can be ambiguous and nobody wants to actually read their policy. Shown next are the usual coverages offered by auto insurance companies.
Collision insurance pays for damage to your vehicle from colliding with another car or object. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage pays for things such as crashing into a ditch, colliding with a tree, scraping a guard rail and hitting a parking meter. This coverage can be expensive, so consider removing coverage from vehicles that are older. Another option is to bump up the deductible to save money on collision insurance.
This pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as damage from flooding, rock chips in glass and fire damage. The highest amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.
Med pay and PIP coverage reimburse you for bills for things like funeral costs, hospital visits, dental work, X-ray expenses and rehabilitation expenses. They are often used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Liability insurance provides protection from damages or injuries you inflict on people or other property that is your fault. It protects YOU from claims by other people, and doesn’t cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and property damage coverage for $50,000. Some companies may use a combined single limit or CSL which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers things such as funeral expenses, court costs and pain and suffering. How much liability coverage do you need? That is a personal decision, but consider buying as high a limit as you can afford. Utah requires drivers to carry at least 25,000/65,000/15,000 but you should think about purchasing more coverage.
Your UM/UIM coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and also any damage incurred to your vehicle.
Due to the fact that many Utah drivers have only the minimum liability required by law (25/65/15), it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
You just learned a lot of techniques to get a better price on auto insurance. The key thing to remember is the more price quotes you have, the higher the chance of saving money. You may even discover the lowest priced auto insurance comes from a small mutual company. They can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.
When trying to cut insurance costs, do not skimp on coverage in order to save money. There have been many cases where an insured cut comprehensive coverage or liability limits and found out when filing a claim they didn’t have enough coverage. Your aim should be to buy enough coverage at an affordable rate, not the least amount of coverage.