It’s a known fact that auto insurance companies want to keep you from comparing rates. Insureds who shop around for cheaper rates will presumably switch companies because there is a good probability of finding better rates. Surprisingly, a recent survey revealed that people who regularly shopped around saved on average $3,400 over four years compared to people who don’t make a habit of comparing rates.
If saving money on insurance is your target objective, learning the best ways to shop for car insurance can help you succeed in finding affordable rates.
If saving money is your primary concern, then the best way to save money on car insurance rates is to start doing an annual price comparison from different companies who sell auto insurance in Aurora. Drivers can shop around by following these steps.
- Step 1: Read about car insurance and the modifications you can make to prevent rate increases. Many rating factors that cause high rates such as inattentive driving and a substandard credit history can be remedied by improving your driving habits or financial responsibility.
- Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can give quotes from one company like GEICO or State Farm, while independent agencies can give you price quotes for a wide range of insurance providers. Begin your rate comparison
- Step 3: Compare the new quotes to your current policy premium and determine if cheaper X-Type coverage is available. If you can save money, verify that coverage does not lapse between policies.
- Step 4: Tell your current agent or company of your intent to cancel the current policy and submit a down payment along with a signed application for the new policy. As soon as you receive it, keep your new proof of insurance certificate in your vehicle’s glove compartment or console.
An important part of this process is to try to compare the same physical damage deductibles and liability limits on every price quote and and to look at as many different insurance providers as possible. This enables an accurate price comparison and the best rate selection.
Insurance policy specifics
Knowing the specifics of insurance can be of help when determining which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording. Listed below are typical coverages available from insurance companies.
Collision – Collision insurance pays for damage to your X-Type resulting from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.
Collision can pay for things like colliding with another moving vehicle, scraping a guard rail, backing into a parked car and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to bump up the deductible on your X-Type in order to get cheaper collision rates.
Uninsured/Underinsured Motorist coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when the “other guys” do not carry enough liability coverage. It can pay for medical payments for you and your occupants and also any damage incurred to your Jaguar X-Type.
Because many people carry very low liability coverage limits (25/50/15), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Frequently these limits are similar to your liability insurance amounts.
Coverage for liability – This coverage can cover damage or injury you incur to people or other property that is your fault. This coverage protects you from claims by other people. It does not cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have limits of 25/50/15 that means you have $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and $15,000 of coverage for damaged property. Alternatively, you may have a combined limit which combines the three limits into one amount and claims can be made without the split limit restrictions.
Liability can pay for things such as legal defense fees, medical expenses and structural damage. How much liability coverage do you need? That is your choice, but you should buy as high a limit as you can afford. Colorado requires drivers to carry at least 25/50/15 but you should think about purchasing more liability than the minimum.
The illustration below demonstrates why minimum state limits may not provide adequate coverage.
Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage pay for expenses for EMT expenses, chiropractic care and surgery. They are utilized in addition to your health insurance policy or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants in addition to being hit by a car walking across the street. PIP coverage is not available in all states and gives slightly broader coverage than med pay
Comprehensive coverage – Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims like damage from getting keyed, falling objects, hitting a deer, damage from flooding and theft. The most you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Don’t give up on affordable rates
Some companies don’t offer internet price quotes and these regional insurance providers work with local independent agents. The cheapest Jaguar X-Type insurance in Aurora is available online as well as from independent agents in Aurora, so you need to compare both to have the best selection.
We covered a lot of tips how to save on Jaguar X-Type insurance in Aurora. The key concept to understand is the more quotes you get, the more likely it is that you will get a better rate. Drivers may even discover the lowest priced insurance comes from a smaller regional carrier. These smaller insurers often have lower premium rates on specific markets than their larger competitors like State Farm, GEICO and Nationwide.
When searching for cheaper Aurora car insurance quotes, it’s a bad idea to buy poor coverage just to save money. There are too many instances where drivers have reduced uninsured motorist or liability limits only to discover later that the small savings ended up costing them much more. The aim is to find the BEST coverage at an affordable rate while not skimping on critical coverages.
To learn more, link through to the resources below:
- Understanding your Policy (NAIC.org)
- What Auto Insurance is Cheapest for a Hyundai Sonata in Aurora? (FAQ)
- How Much are Aurora Auto Insurance Rates for 19 Year Olds? (FAQ)
- How Much are Auto Insurance Quotes for High Risk Drivers in Aurora? (FAQ)
- Bodily Injury Coverage (Liberty Mutual)
- Side Impact Crash Tests (iihs.org)
- Electronic Stability Control FAQ (iihs.org)