Cutting costs on Springfield auto insurance is always difficult for consumers not familiar with comparing rates online. Drivers have so many options available that it can be a challenge to find the best price in Springfield.
Companies that sell car insurance don’t always advertise every available discount very clearly, so here is a list both well-publicized and the more hidden auto insurance savings. If you’re not getting every credit you deserve, you are throwing money away.
A little note about advertised discounts, some of the credits will not apply to the overall cost of the policy. Some only reduce the price of certain insurance coverages like collision or personal injury protection. So despite the fact that it appears you would end up receiving a 100% discount, it just doesn’t work that way.
To choose insurers offering auto insurance discounts in Oregon, click here.
Oregon consumers get pounded daily by advertisements for cheaper car insurance from the likes of Allstate, GEICO and Progressive. They all say the same thing of big savings if you move your coverage to them.
How can each company make almost identical claims? It’s all in the numbers.
All the different companies have a certain “appetite” for the type of customer that makes them money. For instance, a desirable insured might be profiled as between the ages of 40 and 55, a clean driving record, and has excellent credit. Any driver who meets those qualifications will get the preferred rates and is almost guaranteed to save when switching.
Drivers who do not match these standards will be quoted higher prices and this can result in business going elsewhere. The ad wording is “people who switch” not “everyone that quotes” save that much. That’s the way insurance companies can confidently make the claims of big savings. This emphasizes why it is so important to get a wide range of price quotes. It’s not possible to predict which insurance companies will fit your personal profile best.
Knowing the specifics of a auto insurance policy can be of help when determining the best coverages for your vehicles. The terms used in a policy can be confusing and reading a policy is terribly boring.
Comprehensive auto coverage
Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things like a broken windshield, vandalism and fire damage. The maximum payout a auto insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Auto liability insurance
This protects you from damages or injuries you inflict on other’s property or people that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, $50,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.
Liability can pay for things such as funeral expenses, repair costs for stationary objects and court costs. How much coverage you buy is up to you, but you should buy as high a limit as you can afford. Oregon state law requires minimum liability limits of 25,000/50,000/20,000 but it’s recommended drivers buy better liability coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage provides protection when other motorists do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as damage to your vehicle.
Because many people carry very low liability coverage limits (25/50/20), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.
Medical payments and PIP coverage
Med pay and PIP coverage kick in for bills like chiropractic care, nursing services and funeral costs. They are used to fill the gap from your health insurance program or if there is no health insurance coverage. They cover not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Collision protection
Collision coverage pays for damage to your vehicle resulting from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for claims such as rolling your car, colliding with another moving vehicle, hitting a parking meter and driving through your garage door. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are older. It’s also possible to increase the deductible to save money on collision insurance.
More tips and info about auto insurance is available at the Oregon Insurance Division website. Consumers can read enforcement actions against agents and companies, discover disciplinary actions, find out industry alerts, and get help finding coverage.
The following information may also be useful.
As you restructure your insurance plan, do not reduce coverage to reduce premium. In too many instances, drivers have reduced physical damage coverage only to regret that saving that couple of dollars actually costed them tens of thousands. Your focus should be to purchase plenty of coverage at the best price.
We just showed you a lot of ways to get a better price on auto insurance. The key concept to understand is the more times you quote, the better chance you’ll have of finding lower rates. You may even discover the best price on auto insurance is with some of the smallest insurance companies.
Insureds who switch companies do it for any number of reasons including not issuing a premium refund, lack of trust in their agent, unfair underwriting practices and even being labeled a high risk driver. It doesn’t matter why you want to switch switching auto insurance companies is easier than you think.