Are you overwhelmed by the crazy number of insurance company choices? You’re not the only one! People have so many companies to choose from that it can turn into a ton of work to find the best price.
It’s a good habit to price shop coverage on a regular basis because rates are usually higher with each renewal. Just because you found the lowest rates for Prius coverage two years ago you may be paying too much now. Starting right now, ignore everything you know about insurance because you’re about to learn the fastest way to reduce your cost while increasing coverage.
Companies that sell car insurance don’t always list every discount in an easy-to-find place, so we break down both well-publicized and the harder-to-find ways to save on auto insurance.
A little note about advertised discounts, most of the big mark downs will not be given to the entire policy premium. A few only apply to the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears you can get free auto insurance, you won’t be that lucky.
Companies that possibly offer some of the above discounts are:
It’s a good idea to ask all companies you are considering which discounts they offer. Discounts might not apply everywhere.
The are a couple different ways to compare quotes from local car insurance companies. By far the easiest way to find the cheapest 2003 Toyota Prius insurance rates is to perform an online rate comparison. This is very easy and can be done in several different ways.
For a list of links to companies insuring cars in your area, click here.
Whichever way you use, make sure you use identical coverage information for each price quote. If you use unequal deductibles or liability limits it will be very difficult to find the best deal for your Toyota Prius. Slightly different coverages could mean much higher rates. Just remember that quoting more helps you find a better price.
Consumers need to have an understanding of some of the elements that go into determining your car insurance rates. Knowing what impacts premium levels helps enable you to make changes that may reward you with big savings.
Listed below are some of the factors that factor into rates.
When it comes to choosing the best car insurance coverage for your personal vehicles, there really is no “perfect” insurance plan. Every insured’s situation is different.
For example, these questions can help discover whether or not you would benefit from professional advice.
If you can’t answer these questions but one or more may apply to you, you may need to chat with a licensed insurance agent. To find lower rates from a local agent, complete this form.
Insurance companies such as Progressive, Allstate and GEICO constantly bombard you with ads on television and other media. They all seem to make an identical promise that you can save if you switch to them. How do they all claim to save you money? It’s all in the numbers.
Insurance companies can use profiling for the driver that earns them a profit. An example of a desirable insured might be profiled as between 30 and 50, has no tickets, and has excellent credit. Any driver who matches those parameters will qualify for the lowest rates and therefore will save when switching.
Drivers who don’t meet these standards will have to pay more money which usually ends up with business going elsewhere. The ads say “people who switch” not “everyone that quotes” save that kind of money. That’s the way companies can truthfully advertise the way they do. Because of the profiling, it is so important to get as many quotes as possible. It is impossible to predict the company that will fit your personal profile best.
Understanding the coverages of a insurance policy helps when choosing appropriate coverage for your vehicles. Insurance terms can be ambiguous and reading a policy is terribly boring.
Liability insurance
This coverage protects you from damage that occurs to other’s property or people. This coverage protects you against claims from other people. Liability doesn’t cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. You might see values of 100/300/100 which stand for a limit of $100,000 per injured person, $300,000 for the entire accident, and $100,000 of coverage for damaged propery.
Liability can pay for things like funeral expenses, repair bills for other people’s vehicles and structural damage. How much liability should you purchase? That is up to you, but buy as large an amount as possible.
Comprehensive protection
This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims like a broken windshield, damage from getting keyed, damage from flooding and damage from a tornado or hurricane. The maximum amount a insurance company will pay at claim time is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Collision insurance
This coverage will pay to fix damage to your Prius resulting from a collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision coverage pays for claims such as colliding with another moving vehicle, hitting a parking meter, colliding with a tree, backing into a parked car and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. Another option is to raise the deductible to get cheaper collision coverage.
Medical expense coverage
Personal Injury Protection (PIP) and medical payments coverage kick in for bills for things like surgery, pain medications, hospital visits and EMT expenses. They are used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and will also cover being hit by a car walking across the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Uninsured or underinsured coverage
This protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.
As you shop your coverage around, it’s a bad idea to reduce coverage to reduce premium. There are too many instances where someone sacrificed comprehensive coverage or liability limits only to regret that their decision to reduce coverage ended up costing them more. The proper strategy is to buy enough coverage at a price you can afford.
Consumers leave their current company for a number of reasons such as high rates after DUI convictions, denial of a claim, an unsatisfactory settlement offer and high prices. It doesn’t matter why you want to switch switching companies is not as difficult as it may seem.
Low-cost 2003 Toyota Prius insurance is attainable on the web in addition to many insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. There are still a few companies who do not provide online quoting and usually these small, regional companies provide coverage only through local independent agents.