Shopping for affordable insurance coverage on the web can be difficult for people who are new to online price comaprisons. When there are so many insurance companies available, how can consumers effectively compare every one to find the lowest rates?
An important part of buying insurance is that you know the rating factors that help determine the rates you pay for car insurance. Understanding what influences your rates enables informed choices that could result in much lower annual insurance costs.
The following are some of the factors car insurance companies consider when setting premiums.
The method we recommend to get policy rate comparisons is to know most of the bigger providers participate in a system to provide you with free rate quotes. All consumers are required to do is provide the companies a bit of rating information like whether you are single or married, whether your vehicle is owned or leased, how many miles driven, and your education level. Your insurance information is instantly provided to multiple companies and they return quotes almost instantly.
Companies like GEICO, State Farm and Progressive regularly use ads in print and on television. All the ads say the same thing that you can save if you move your policy. But how can every company say the same thing? It’s all in the numbers.
All companies have a certain “appetite” for the driver that earns them a profit. For example, a driver they prefer might be between the ages of 30 and 50, is a homeowner, and has a high credit rating. Any driver who fits that profile gets the lowest rates and therefore will pay quite a bit less when switching companies.
Drivers who are not a match for the “perfect” profile must pay a higher premium which leads to the customer not buying. Company advertisements say “people who switch” not “everyone that quotes” save that much. That’s the way insurance companies can make those claims.
This illustrates why it is so important to quote coverage with many companies. You cannot predict which insurance companies will fit your personal profile best.
Car insurance can cost a lot, but discounts can save money and there are some available that many people don’t even know exist. Certain discounts will be applied when you get a quote, but a few need to be requested specifically in order for you to get them.
As a disclaimer on discounts, some credits don’t apply to the overall cost of the policy. Most only apply to the price of certain insurance coverages like comprehensive or collision. Just because it seems like having all the discounts means you get insurance for free, companies wouldn’t make money that way. Any qualifying discounts will help reduce your overall premium however.
To see a list of companies with discount insurance rates, click this link.
When it comes to choosing the best car insurance coverage for your personal vehicles, there really is not a perfect coverage plan. Coverage needs to be tailored to your specific needs.
For example, these questions may help you determine if your situation would benefit from professional advice.
If you don’t know the answers to these questions but you know they apply to you, you might consider talking to an insurance agent. If you want to speak to an agent in your area, take a second and complete this form.
Knowing the specifics of insurance aids in choosing the best coverages and proper limits and deductibles. Insurance terms can be difficult to understand and nobody wants to actually read their policy.
Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and also any damage incurred to your Dodge Durango.
Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Most of the time your uninsured/underinsured motorist coverages do not exceed the liability coverage limits.
Collision – Collision coverage covers damage to your Durango caused by collision with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things like rolling your car, crashing into a ditch, colliding with another moving vehicle, scraping a guard rail and backing into a parked car. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible to bring the cost down.
Medical payments coverage and PIP – Coverage for medical payments and/or PIP kick in for short-term medical expenses such as dental work, surgery and ambulance fees. They are often used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. It covers you and your occupants and will also cover getting struck while a pedestrian. PIP coverage is not available in all states and gives slightly broader coverage than med pay
Liability coverages – This coverage will cover injuries or damage you cause to other’s property or people in an accident. It protects you against claims from other people. It does not cover damage sustained by your vehicle in an accident.
It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show values of 50/100/50 that means you have $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery. Alternatively, you may have one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability insurance covers claims such as medical services, funeral expenses, repair bills for other people’s vehicles, medical expenses and legal defense fees. The amount of liability coverage you purchase is up to you, but you should buy as much as you can afford.
Comprehensive coverage – This coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things like vandalism, hitting a deer and hitting a bird. The maximum amount your insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
When shopping online for car insurance, it’s not a good idea to buy less coverage just to save a little money. In many cases, an insured cut physical damage coverage only to regret that the small savings ended up costing them much more. Your aim should be to get the best coverage possible at a price you can afford while still protecting your assets.
We just showed you some good ideas how to compare 1999 Dodge Durango insurance prices online. The key thing to remember is the more you quote, the better chance you’ll have of finding lower rates. Drivers may discover the best price on car insurance is with the smaller companies.
Discount insurance is possible from both online companies and with local insurance agents, and you should compare price quotes from both to have the best chance of lowering rates. There are still a few companies who do not offer online quoting and many times these small, regional companies only sell through independent insurance agents.
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