Have you fallen victim to an underperforming, overpriced auto insurance policy? Trust us, there are lots of people in the same boat. Consumers have many car insurance companies to purchase coverage from, and although it’s a good thing to be able to choose, it can be more difficult to adequately compare rates.
Consumers need to compare prices periodically because rates are rarely the same from one policy term to another. Even if you got the best deal a year ago other companies may now be cheaper. Don’t believe everything you read about auto insurance online, so by reading this article, you’re going to learn some great ideas on how to buy auto insurance cheaper.
This information will help you learn how car insurance quotes work. If you currently have car insurance, you will most likely be able to cut costs considerably using these tips. Texas vehicle owners only need to know the most effective way to shop on the web.
How to Compare Auto Insurance in Corinth, TX
Getting better auto insurance pricing is actually quite simple. All you need to do is take time to get quotes provided by online insurance companies. This is very easy and can be done in several different ways.
- The single most time-saving way to find the lowest comparison rates would be an industry-wide quote request form (click to open form in new window). This method saves time by eliminating a different quote to each individual auto insurance company. One simple form gets you coverage quotes from multiple low-cost companies.
- A less efficient way to analyze rates requires you to visit the website for every company you want to comare to complete their respective quote request forms. For sake of this example, let’s say you want to compare Auto-Owners, Progressive and GMAC. To get each rate you have to spend time on each company’s site and enter your policy data, and that’s why the first method is more popular. For a list of links to companies insuring cars in Corinth, click here.
Whichever way you use, double check that you are using exactly the same coverage information for each price quote. If you are comparing higher or lower deductibles it will be impossible to make a fair comparison in Corinth.
Don’t pay full price with these eight discounts
Car insurance can cost a lot, but there are discounts available to reduce the price significantly. Larger premium reductions will be automatically applied when you quote, but a few must be specifically requested before you will receive the discount. If you aren’t receiving every discount available, you are paying more than you should be.
- Multiple Vehicles – Insuring multiple vehicles with the same company qualifies for this discount.
- One Accident Forgiven – Certain companies will forgive one accident before hitting you with a surcharge as long as you don’t have any claims for a set time period.
- Federal Employees – Active or retired federal employment could cut as much as 10% off depending on your company.
- Payment Method – By paying your policy upfront instead of paying each month you may reduce your total bill.
- Discount for New Cars – Adding a new car to your policy is cheaper compared to insuring an older model.
- Air Bag Discount – Vehicles with factory air bags can qualify for discounts of 20% or more.
- Driver’s Ed – Have your child complete a driver education course if offered at their school.
- Resident Student – Any of your kids who attend school more than 100 miles from home without a vehicle on campus may be able to be covered for less.
Drivers should understand that most discounts do not apply to the entire cost. Most cut individual premiums such as medical payments or collision. Just because you may think you can get free auto insurance, it doesn’t quite work that way. Any amount of discount will cut the amount you have to pay.
Your personal situation dictates your coverage
When buying adequate coverage, there really is no single plan that fits everyone. Every insured’s situation is different so your insurance needs to address that. For instance, these questions can help discover if your insurance needs would benefit from professional advice.
- Does my insurance cover my expensive audio equipment?
- Do I really need UM/UIM coverage?
- Do I have coverage when using my vehicle for my home business?
- Do I have coverage when making deliveries for my home business?
- How much liability coverage do I need in Texas?
- Do I need rental car coverage?
- Will my vehicle be repaired with OEM or aftermarket parts?
If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, free and may give you better protection.
Learn about auto insurance coverages
Having a good grasp of your policy can be of help when determining which coverages you need for your vehicles. Policy terminology can be ambiguous and nobody wants to actually read their policy. Below you’ll find typical coverage types offered by auto insurance companies.
Liability insurance – This coverage will cover damages or injuries you inflict on other’s property or people. It protects YOU against other people’s claims, and does not provide coverage for damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show values of 50/100/50 that translate to a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Some companies may use one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability can pay for things such as loss of income, repair costs for stationary objects and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but you should buy higher limits if possible. Texas state minimum liability requirements are 30,000/60,000/25,000 but drivers should carry better liability coverage.
Uninsured/Underinsured Motorist coverage – This provides protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.
Due to the fact that many Texas drivers carry very low liability coverage limits (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important. Frequently these limits are identical to your policy’s liability coverage.
Collision coverage – This coverage covers damage to your vehicle resulting from a collision with an object or car. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers things like colliding with another moving vehicle, crashing into a building and rolling your car. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. You can also raise the deductible to get cheaper collision coverage.
Comprehensive coverage – This pays for damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims such as hail damage, damage from getting keyed, hitting a bird, falling objects and vandalism. The maximum payout you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.
Medical payments coverage and PIP – Coverage for medical payments and/or PIP provide coverage for expenses such as surgery, X-ray expenses and rehabilitation expenses. They are utilized in addition to your health insurance policy or if you are not covered by health insurance. It covers all vehicle occupants and also covers getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
Additional auto insurance information can be found on the website for the Texas Department of Insurance. Click here for link. Visitors are able to view a list of available companies, read enforcement actions against agents and companies, and read state legal mandates and laws.
In the end, you save
You just learned some good ideas how to lower your auto insurance rates. The key thing to remember is the more companies you get rates for, the better your chances of lowering your rates. Drivers may discover the best price on auto insurance is with the smaller companies. They can often insure niche markets at a lower cost as compared to the big name companies such as Allstate, GEICO and Progressive.
As you shop your coverage around, never skimp on coverage in order to save money. There are many occasions where drivers have reduced liability coverage limits to discover at claim time that the small savings ended up costing them much more. Your strategy should be to get the best coverage possible at an affordable rate while still protecting your assets.