No one likes having to buy insurance coverage, particularly when they are paying too much.
Since consumers have many companies to choose from, it’s nearly impossible to find the cheapest car insurance company.
Consumers need to have an understanding of some of the elements that come into play when calculating your insurance coverage rates. Knowing what influences your rates allows you to make educated decisions that can help you get big savings.
The list below includes a few of the “ingredients” companies use to determine your rates.
Car insurance can cost a lot, but discounts can save money and there are some available to reduce the price significantly. Most are applied at quote time, but lesser-known reductions have to be specially asked for before you will receive the discount.
It’s important to understand that most credits do not apply to your bottom line cost. Most cut individual premiums such as liability, collision or medical payments. So when the math indicates having all the discounts means you get insurance for free, insurance coverage companies aren’t that generous. But all discounts will reduce the cost of coverage.
For a list of insurance companies with discount insurance coverage rates, click here to view.
When choosing the best insurance coverage for your personal vehicles, there really is not a single plan that fits everyone. Every situation is different so this has to be addressed. For example, these questions could help you determine if you might need professional guidance.
If it’s difficult to answer those questions but a few of them apply, you may need to chat with 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
Learning about specific coverages of car insurance aids in choosing which coverages you need for your vehicles. Car insurance terms can be impossible to understand and nobody wants to actually read their policy. Listed below are the usual coverages found on the average car insurance policy.
Coverage for medical payments
Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like rehabilitation expenses, surgery and hospital visits. The coverages can be used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and also covers being hit by a car walking across the street. Personal Injury Protection is not available in all states but can be used in place of medical payments coverage
Uninsured and underinsured coverage
This coverage gives you protection when the “other guys” do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle’s occupants as well as damage to your 2013 Kia Rio.
Due to the fact that many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is very important. Normally these coverages are set the same as your liablity limits.
Liability
Liability coverage protects you from damage or injury you incur to other’s property or people. This coverage protects you against claims from other people. It does not cover damage to your own property or vehicle.
Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 50/100/50 that means you have $50,000 bodily injury coverage, $100,000 for the entire accident, and a limit of $50,000 paid for damaged property. Occasionally you may see one limit called combined single limit (CSL) that pays claims from the same limit with no separate limits for injury or property damage.
Liability can pay for claims like repair costs for stationary objects, repair bills for other people’s vehicles, medical services and court costs. How much liability should you purchase? That is a decision to put some thought into, but buy as much as you can afford.
Comprehensive coverages
Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against claims such as a broken windshield, damage from flooding, damage from a tornado or hurricane, falling objects and vandalism. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.
Collision insurance
This covers damage to your Rio resulting from a collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for things such as crashing into a building, hitting a parking meter, rolling your car, driving through your garage door and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. It’s also possible to increase the deductible in order to get cheaper collision rates.
Throughout this article, we presented a lot of ways to get a better price on 2013 Kia Rio insurance. The most important thing to understand is the more quotes you get, the better your chances of lowering your rates. You may even find the lowest rates come from some of the smallest insurance companies. These companies may only write in your state and offer lower rates than their larger competitors like Allstate, GEICO and Progressive.
When you buy insurance online, it’s not a good idea to skimp on coverage in order to save money. There have been many cases where drivers have reduced collision coverage to discover at claim time that their decision to reduce coverage ended up costing them more. The aim is to purchase a proper amount of coverage at a price you can afford, not the least amount of coverage.
More detailed auto insurance information can be found by following these links: