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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Mar 30, 2024

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Expensive insurance coverage can deplete your checking account and possibly require postponing other expenditures. Many car insurance companies vie for your hard-earned dollar, and because of this it can be hard to compare insurers and get the best coverage at the best price available.

If you have a current auto insurance policy or are shopping for new coverage, you can use these techniques to get lower rates while maximizing coverage. Finding affordable coverage is quite easy. Drivers just need to know how to compare prices online.

Car insurance discounts help reduce rates

Some companies do not list their entire list of discounts in a way that’s easy to find, so the following is a list of both the well known in addition to some of the lesser obvious car insurance savings.

  • Homeowners Discount – Simply owning a home may earn you a small savings since home ownership is proof of financial responsibility.
  • Onboard Data Collection – People who choose to allow their car insurance company to study their driving habits by using a telematics device like Drivewise from Allstate or In-Drive from State Farm may see discounts as long as they are good drivers.
  • Good Grades Discount – Being a good student could provide a savings of up to 20% or more. The discount lasts until age 25.
  • Online Discount – A few companies give back up to $50 simply for signing digitally online.
  • Active Service Discounts – Having a deployed family member could trigger a small discount.
  • Early Switch Discount – Select insurance companies give a discount for buying a policy before your current expiration date. You may see this discount when you get insurance coverage quotes online.
  • No Charge for an Accident – This one isn’t a discount, but companies like Progressive, Allstate, and GEICO may permit one accident before they charge you more for coverage so long as you are claim-free for a set time period.
  • New Vehicle Savings – Adding a new car to your policy can save you some money because new model year vehicles keep occupants safer.
  • Defensive Driving Course – Passing a safe driver course could save 5% or more depending on where you live.
  • Distant College Student Discount – who are enrolled in higher education away from home and do not take a car to college may qualify for this discount.

Discounts lower rates, but most of the big mark downs will not be given to all coverage premiums. Some only apply to individual premiums such as medical payments or collision. So when the math indicates you could get a free car insurance policy, companies don’t profit that way. Any amount of discount will reduce your policy premiums.

A few companies that may offer most of these discounts are:

  • Progressive
  • American Family
  • MetLife
  • The Hartford

When comparing rates, check with each company or agent to apply every possible discount. Depending on the company, some discounts might not apply in your area. For a list of companies that can offer you the previously mentioned discounts, enter your zip code here.

Which is the best auto insurance?

When buying the right insurance coverage, there really is no best way to insure your cars. Every insured’s situation is different and your policy should reflect that. For instance, these questions might point out if your insurance needs might need an agent’s assistance.

  • What is the difference between comprehensive and collision coverage?
  • Can I still get insurance after a DUI?
  • I have good health insurance, so how much medical payments coverage do I need?
  • Do I have coverage for damage caused while driving under the influence?
  • What if I total my 2024 Tesla Model 3 and owe more than it’s worth?
  • Can I afford to pay high deductible claims out of pocket?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, take a second and enter your zip code. It only takes a few minutes and may give you better protection.

Car insurance coverage considerations

Learning about specific coverages of your policy aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be confusing and even agents have difficulty translating policy wording. These are the usual coverages found on most car insurance policies.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage provides protection from other drivers when they do not carry enough liability coverage. It can pay for injuries sustained by your vehicle’s occupants and damage to your Tesla Model 3.

Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Collision coverages – Collision insurance pays for damage to your Model 3 resulting from a collision with an object or car. You will need to pay your deductible then your collision coverage will kick in.

Collision insurance covers things like hitting a parking meter, sideswiping another vehicle and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. It’s also possible to bump up the deductible to save money on collision insurance.

Comprehensive coverage – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things such as damage from getting keyed, hitting a bird and damage from flooding. The highest amount you’ll receive from a claim is the actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Medical payments coverage and PIP – Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for surgery, pain medications and doctor visits. The coverages can be used to fill the gap from your health insurance plan or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay

Liability – This can cover injuries or damage you cause to a person or their property that is your fault. It protects you from claims by other people. It does not cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have policy limits of 100/300/100 that translate to $100,000 in coverage for each person’s injuries, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged property.

Liability coverage protects against things like pain and suffering, loss of income, attorney fees, legal defense fees and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but buy as high a limit as you can afford.

Summing up your insurance search

As you quote insurance coverage, it’s very important that you do not buy lower coverage limits just to save a few bucks. There have been many cases where drivers have reduced liability limits or collision coverage only to regret at claim time that the few dollars in savings costed them thousands. The goal is to purchase a proper amount of coverage at an affordable rate while not skimping on critical coverages.

Cheaper 2024 Tesla Model 3 insurance is definitely available on the web as well as from insurance agents, so get free insurance coverage quotes from both of them to have the best selection. A few companies may not offer the ability to get quotes online and usually these small insurance companies prefer to sell through local independent agents.

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