Lower Your 2015 Scion iQ Car Insurance Cost

Buying the lowest cost insurance over the internet may be impossible for beginners to online price comaprisons. Since there are so many insurers to choose from, how can you have a chance to compare every one to find the lowest rates?

If you currently have car insurance, you will be able to reduce your rates substantially using this strategy. Pricing the best coverage is not that difficult. But car owners need to learn how big insurance companies sell insurance online and use this information to your advantage.

Factors influencing Scion iQ insurance rates

Smart consumers have a good feel for the rating factors that go into determining auto insurance rates. Having a good understanding of what controls the rates you pay empowers consumers to make smart changes that could result in better auto insurance rates.

  • Multi-policy discounts can save money – Many auto insurance companies provide better rates to insureds who carry more than one policy. It’s known as a multi-policy discount. This can amount to ten or even up to twenty percent in some cases. Even if you’re getting this discount it’s in your best interest to shop around to verify if the discount is saving money.
  • Women pay lower rates – Statistics show that women are safer drivers than men. However, don’t assume that men are WORSE drivers than women. Both sexes are in accidents in similar numbers, but the men cause more damage and cost insurance companies more money. Men also statistically get more serious tickets such as reckless driving.
  • Little extras can really add up – There are quite a few add-on coverages you can purchase on your iQ policy. Things like rental car reimbursement, better glass coverage and membership fees may be wasting your money. These coverages may sound good when talking to your agent, but your needs may have changed so remove them from your policy.
  • Mature drivers pay less – Older insureds are more cautious drivers, file fewer claims and get fewer tickets. Young drivers tend to be careless and easily distracted when behind the wheel therefore auto insurance rates are much higher.
  • High numbers of claims are not good – If you are a frequent claim filer, you can expect either higher rates or even cancellation. Auto insurance companies provide cheaper rates to drivers who do not rely on their insurance for small claims. Car insurance is intended for the bigger claims that can’t be paid out-of-pocket.

Don’t miss these discounts

Car insurance companies do not advertise every available discount in an easy-to-find place, so the following is a list of both the well known and the more hidden insurance savings.

  • Government Employees – Simply working for the federal government can save as much as 8% on iQ insurance with certain companies.
  • Seat Belts Save more than Lives – Requiring all passengers to use their safety belts could cut 10% or more off your PIP or medical payments premium.
  • Multiple Cars – Buying coverage for all your vehicles with the same company can get a discount on all vehicles.
  • Club Memberships – Belonging to certain professional organizations may earn a discount on your policy on iQ insurance.
  • Discounts for Safe Drivers – Drivers who avoid accidents can pay as much as 50% less on iQ insurance than drivers with accident claims.
  • Lower Rates for Military – Being on active duty in the military could mean lower rates.
  • Defensive Driver – Taking part in a course teaching defensive driving skills could save 5% or more if you qualify.
  • Payment Discounts – If paying your policy premium upfront instead of monthly or quarterly installments you could save up to 5%.

As a disclaimer on discounts, most discounts do not apply the the whole policy. Some only apply to the cost of specific coverages such as medical payments or collision. Even though it may seem like you would end up receiving a 100% discount, you’re out of luck.

For a list of insurance companies with discount insurance rates, click here.

Can you really save $390 a year?

Auto insurance providers like State Farm, Allstate and GEICO consistently run ads on television and other media. They all make the same claim that you’ll save big if you change to them. How do they all make the same claim?

All companies have a certain “appetite” for the type of customer that earns them a profit. For instance, a profitable customer could possibly be between the ages of 40 and 55, has no tickets, and drives less than 10,000 miles a year. Any driver who matches those parameters gets the lowest rates and as a result will probably save when they switch companies.

Consumers who don’t qualify for the requirements must pay higher rates which leads to business not being written. The ads say “people who switch” not “people who quote” save that much money. That is how companies can claim big savings. This illustrates why you should get as many comparisons as possible. Because you never know which auto insurance company will fit your personal profile best.

When might I need help?

When choosing the best auto insurance coverage, there is no single plan that fits everyone. Everyone’s situation is a little different.

Here are some questions about coverages that can aid in determining if you might need professional guidance.

  • Can I get a multi-policy discount for packaging my home and auto coverage?
  • Why is insurance for a teen driver so high?
  • How do I buy GAP insurance?
  • Am I covered if I drive in a foreign country?
  • Is there coverage for injuries to my pets?
  • When can my company non-renew my policy?
  • What if I total my 2015 Scion iQ and owe more than it’s worth?
  • What if I don’t agree with a claim settlement offer?
  • Is my 2015 Scion iQ covered for smoke damage?
  • Does my policy cover me when driving someone else’s vehicle?

If you can’t answer these questions but you think they might apply to your situation, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form.

Coverages available on your policy

Understanding the coverages of your car insurance policy aids in choosing which coverages you need and proper limits and deductibles. The terms used in a policy can be ambiguous and reading a policy is terribly boring.

Liability coverages

This provides protection from damage that occurs to other’s property or people that is your fault. This coverage protects you against claims from other people. Liability doesn’t cover your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see liability limits of 25/50/25 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and a total limit of $25,000 for damage to vehicles and property.

Liability coverage pays for things like loss of income, medical services, court costs and funeral expenses. How much liability should you purchase? That is your choice, but buy as large an amount as possible.

Uninsured or underinsured coverage

This protects you and your vehicle’s occupants 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 2015 Scion iQ.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Collision coverage

Collision coverage covers damage to your iQ resulting from colliding with an object or car. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as driving through your garage door, sustaining damage from a pot hole, crashing into a building and hitting a mailbox. This coverage can be expensive, so consider removing coverage from vehicles that are older. You can also choose a higher deductible to save money on collision insurance.

Medical expense coverage

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses like rehabilitation expenses, doctor visits, chiropractic care and hospital visits. They can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. They cover not only the driver but also the vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Comprehensive protection

This pays for damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things like vandalism, damage from getting keyed, damage from flooding and hitting a deer. The maximum payout a car insurance company will pay at claim time 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.

Summing up your auto insurance search

Insureds switch companies for a number of reasons such as high rates after DUI convictions, lack of trust in their agent, high prices and even policy cancellation. It doesn’t matter why you want to switch finding the right auto insurance provider is not as difficult as it may seem.

As you restructure your insurance plan, make sure you don’t sacrifice coverage to reduce premiums. There are too many instances where consumers will sacrifice liability coverage limits only to find out that the few dollars in savings costed them thousands. The ultimate goal is to find the BEST coverage at the best price, not the least amount of coverage.

Throughout this article, we presented many ways to get a better price on 2015 Scion iQ insurance. The key concept to understand is the more rate quotes you have, the better chance you’ll have of finding lower rates. You may even find the biggest savings come from a small local company.

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