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Leveraging online Insurance Quoting Services.
Insurance costs represent one of the largest expenses of your car ownership experience.
This expense should be included in your decision on what vehicle to buy because different
vehicles can have vastly different insurance premiums.
Many people go through the process of buying a particular vehicle and consider insurance
premium costs after the purchase. Often times they change their minds on the vehicle in
question and start the process over again because the premiums were too costly.
This page will provide a brief overview of coverage and provide tips on
how maximize your savings using online insurance services. Many of the
online resources included in this section boast a minimum savings of
$300 per year on insurance policies.
By getting insurance rates on vehicles you are considering ahead of time, you will have no
surprises when it comes time to take delivery of your new vehicle.
As you will see, the main benefits of shopping online are maximum savings combined with a
hassle free and quick shopping experience. You are also under no obligation to accept a
quote and all quotes are e-mailed to you - no over the phone sales pressure. You can
literally shop hundreds of insurance companies in less than an hour on all of the vehicles
you are considering.
Test it on your existing vehicle policy
To test it, get a quote from one of the
services for your existing vehicle. Notice any difference in price.
Tip for shopping online
You may now begin to shop around for
the best insurance carrier and policy. A full range of online sources should be
researched. It is important to distinguish any differences in coverage from each quote, as
a low premium may indicate that there is something missing in one policy that is present
in a policy with a slightly higher premium.
Make sure that apples are being compared to apples, and do not hesitate to ask plenty of
questions about the policy, how much it costs, what it applies to, and how claims are
processed. Financial information should be gathered on carriers being considered to
determine if they are strong enough financially to support all their claims, and you
should always read the policy thoroughly before signing up for it.
How companies provide quotes.
Insurance companies will usually
provide quotes for maximum liability limits in what is referred to as a X/Y/Z format.
Consumers can expect coverage for bodily injury or property damage that one is legally
responsible for such as 150/325/55, which translates into a maximum coverage of $150K
bodily injury per person, $325K bodily injury per incident, and $55K property damage per
incident.
The figures might be presented as a single combined limit, which is the liability limit
provided as a single amount based on a single occurrence without per person or property
damage sub-limits. Single combined limits are beneficial in cases where personal injuries
are low but the property damage is high because the total liability limit, not just the
sub-limits, can cover the damage.
Another possibility is when the case is reversed and a person is harmed more severely than
the property, the total liability again will cover the personal injury to the person. If
the limits cannot fully satisfy the requirements of the personal injury or property
damage, an individual's assets and earnings may have to make up the difference. |