Drivers have lots of options when attempting to insure your vehicle. You can either buy through a local agent or go online to compare insurance costs of insurance providers. Finding cheaper car insurance by comparing rates online can be fast and easy, plus you might just save a little.

If you are a novice to online car insurance shopping, you may be overwhelmed by the hoards of online companies vying for your business. When shopping for car insurance there are multiple ways to compare rate quotes from local car insurance companies. The fastest way to find the cheapest is to perform an online rate comparison. This can be done by getting a quick quote here.

Premiums are calculated by these things

Auto insurance rates paid to insure a 2001 can be significantly different depending on several factors. Including but not limited to:

  • Higher performance 2001 vehicles cost more
  • How many accidents you have had
  • Home/auto policy bundles save money
  • How you use your vehicle
  • Add-on coverages such as rental reimbursement
  • What you do for a living
  • Your coverage level
  • Home ownership saves money

A final factor which can affect is the model year. Models that are a few years old have a lower value in comparison to older models so the costs to repair may result in lower rates. On the flip side, new models may have a trim level with safety features like a backup camera, dual-stage airbags, and an advanced theft deterrent system that may help help offset higher rates.

Auto liability insurance

This coverage provides protection from damage or injury you incur to a person or their property that is your fault. Liability coverage protects against claims like pain and suffering, repair costs for stationary objects, and legal defense fees. Coverage is generally pretty cheap so consider buying as large an amount as possible.

Auto collision coverage

This pays to fix your vehicle from damage from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in. This coverage can be expensive, so you might think about dropping it from vehicles that are older. Drivers also have the option to bump up the deductible to get cheaper .

Comprehensive insurance

This covers damage from a wide range of events other than collision. A deductible will apply and the remainder of the damage will be paid by your comprehensive insurance. The highest amount your car insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle's value consider removing comprehensive coverage.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage provides protection when other motorists either have no liability insurance or not enough. Since a lot of drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That's why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Med pay and Personal Injury Protection (PIP)

Medical payments and Personal Injury Protection insurance pay for immediate expenses (i.e. EMT expenses, pain medications, and nursing services). They can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. Personal Injury Protection is not universally available and may carry a deductible.