No one enjoys paying for auto insurance, in particular when they are paying too much.
Lots of car insurance companies contend for your insurance dollar, and it can be difficult to compare rates to get the lowest rate possible.
Smart consumers take time to do rate comparisons at least once a year because insurance rates are constantly changing. Just because you found the best deal a couple years back other companies may now be cheaper. Ignore everything you know about auto insurance because you’re about to find out the best methods to find better coverage at a better price.
If you have car insurance now, you stand a good chance to be able to cut costs considerably using these techniques. Finding the best rates in Bixby is easy if you know what you’re doing. But Oklahoma consumers can benefit by having an understanding of the way insurance companies determine prices and use this information to your advantage.
Companies that sell car insurance don’t always advertise all their discounts very well, so we break down some of the best known and the more hidden savings tricks you should be using.
It’s important to understand that some of the credits will not apply to the overall cost of the policy. Most cut specific coverage prices like comp or med pay. So even though they make it sound like adding up those discounts means a free policy, companies don’t profit that way.
When it comes to choosing the best auto insurance coverage for your vehicles, there is no perfect coverage plan. Everyone’s situation is unique so this has to be addressed. These are some specific questions may help you determine if your insurance needs might need professional guidance.
If you don’t know the answers to these questions but a few of them apply, you might consider talking to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier
Knowing the specifics of your auto insurance policy helps when choosing the best coverages and the correct deductibles and limits. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Listed below are typical coverages available from auto insurance companies.
This protects you from injuries or damage you cause to a person or their property in an accident. It protects YOU from legal claims by others, and does not provide coverage for damage to your own property or vehicle.
It consists of three limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property.
Liability can pay for claims such as repair bills for other people’s vehicles, bail bonds, medical services, pain and suffering and funeral expenses. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible. Oklahoma state minimum liability requirements are 25,000/50,000/25,000 but drivers should carry more liability than the minimum.
This pays for damage to your vehicle caused by collision with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for claims like sideswiping another vehicle, crashing into a ditch, hitting a mailbox and backing into a parked car. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.
This gives you protection from other drivers when they either have no liability insurance or not enough. Covered losses include injuries to you and your family and also any damage incurred to your vehicle.
Since many Oklahoma drivers only purchase the least amount of liability that is required (25/50/25 in Oklahoma), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.
Comprehensive insurance pays for damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like a broken windshield, vandalism and falling objects. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Personal Injury Protection (PIP) and medical payments coverage reimburse you for immediate expenses for prosthetic devices, surgery and rehabilitation expenses. The coverages can be used in conjunction with a health insurance plan or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage
More detailed Oklahoma auto insurance information can be found at the Oklahoma Insurance Department website. Oklahoma consumers can find a variety of consumer forms, learn about specific coverages, and report car insurance fraud.
We’ve covered a lot of techniques to shop for auto insurance online. The key concept to understand is the more you quote, the higher the chance of saving money. Drivers may discover the best price on auto insurance is with some of the smallest insurance companies. They often have lower prices on specific markets compared to the large companies like State Farm and Allstate.
The cheapest auto insurance can be found on the web as well as from independent agents in Bixby, and you need to comparison shop both to have the best selection. Some auto insurance companies don’t offer online quoting and these smaller companies work with independent agents.