10 Ways to Pay Less on Car Insurance in Lima
If you’re new to shopping for car insurance online, it’s easy to get confused by the vast number of car insurance companies vying for business in Lima.
Quick Lima Car Insurance Quotes
Performing a rate comparison can be a lot of work if you don’t utilize the easiest way. You can waste a lot of time discussing policy coverages with insurance companies in Lima, or you could use online quotes to get the quickest rates.
All the larger companies belong to a marketplace that allows shoppers to submit one quote, and every company then gives them pricing based on the submitted data. This eliminates the need for form submissions for each company you want a rate for.
To enter your information into the quoting system, click to open in new window.
The one downside to pricing coverage this way is you cannot specify the companies to receive prices from. If you would rather choose specific insurance companies to compare prices, we have assembled a list of car insurance companies in Ohio. Click here for list of insurance companies in Ohio.
It doesn’t matter which method you choose, just double check that you are using exactly the same deductibles and coverage limits on every quote. If you enter different values for each quote it will be next to impossible to decipher which rate is best in Lima. Just a small difference in limits can result in a big premium difference. And when comparison shopping, having more price comparisons will increase your chances of finding the best offered rates.
Don’t overlook these ten discounts
Insuring your vehicles can cost a lot, but there could be available discounts that many people don’t even know exist. Most are applied at the time you complete a quote, but some may not be applied and must be inquired about in order for you to get them.
- Claim Free – Claim-free drivers pay less compared to frequent claim filers.
- Employee of Federal Government – Employees or retirees of the government can earn a discount up to 10% with select insurance companies.
- Good Students Pay Less – Getting good grades can save 20 to 25%. Earning this discount can benefit you up to age 25.
- Life Insurance – Some companies give better rates if you take out life insurance from them.
- Discount for New Cars – Putting insurance coverage on a new car can be considerably cheaper since new cars are generally safer.
- College Student – Children living away from home attending college and do not have access to a covered vehicle can receive lower rates.
- Multi-car Discount – Buying insurance for more than one vehicle with the same company may reduce the rate for each vehicle.
- Safe Drivers – Insureds without accidents can get discounts for up to 45% lower rates than drivers with accidents.
- Memberships – Affiliation with a professional or civic organization is a good way to get lower rates on your policy.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to take driver’s ed class in school.
Keep in mind that most discount credits are not given to the overall cost of the policy. Most only reduce the price of certain insurance coverages like collision or personal injury protection. So when the math indicates having all the discounts means you get insurance for free, you won’t be that lucky. But all discounts will reduce the cost of coverage.
To choose providers offering car insurance discounts in Lima, click this link.
Car insurance ads bend the truth
Car insurance companies such as Allstate, GEICO and Progressive continually stream ads on television and other media. They all seem to say the same thing that you’ll save big after switching your policy. How can each company say the same thing?
Different companies have a preferred profile for the right customer that earns them a profit. An example of a preferred risk might be profiled as between the ages of 30 and 50, has no tickets, and has great credit. Any new insured that hits that “sweet spot” receives the best rates and is almost guaranteed to cut their rates substantially.
Potential customers who don’t measure up to this ideal profile must pay a higher premium which usually ends up with business not being written. The ads state “people who switch” not “everybody who quotes” save that kind of money. This is how companies can truthfully make those claims.
This illustrates why drivers should compare many company’s rates. It is impossible to predict the company that will fit your personal profile best.
Car insurance policy coverages
Understanding the coverages of car insurance helps when choosing appropriate coverage at the best deductibles and correct limits. Car insurance terms can be confusing and coverage can change by endorsement.
Comprehensive or Other Than Collision
This covers damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.
Comprehensive can pay for claims like damage from getting keyed, a broken windshield, hitting a deer and fire damage. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Auto collision coverage
This covers damage to your vehicle resulting from colliding with an object or car. You will need to pay your deductible and then insurance will cover the remainder.
Collision insurance covers things such as crashing into a building, backing into a parked car, scraping a guard rail, hitting a parking meter and sustaining damage from a pot hole. This coverage can be expensive, so consider removing coverage from vehicles that are 8 years or older. You can also bump up the deductible to save money on collision insurance.
Medical costs insurance
Coverage for medical payments and/or PIP reimburse you for short-term medical expenses for things like dental work, funeral costs, hospital visits and X-ray expenses. The coverages can be used to fill the gap from your health insurance program or if you do not have health coverage. Medical payments and PIP cover all vehicle occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage
Liability auto insurance
Liability coverage provides protection from damage or injury you incur to other people or property that is your fault. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property. Some companies may use a combined single limit or CSL that pays claims from the same limit and claims can be made without the split limit restrictions.
Liability can pay for claims like pain and suffering, bail bonds, loss of income, court costs and legal defense fees. How much liability coverage do you need? That is up to you, but consider buying as much as you can afford. Ohio state law requires minimum liability limits of 12,500/25,000/7,500 but it’s recommended drivers buy higher limits.
UM/UIM Coverage
This provides protection from other drivers when they do not carry enough liability coverage. This coverage pays for medical payments for you and your occupants as well as damage to your vehicle.
Because many people carry very low liability coverage limits (12,500/25/7,500 in Ohio), it only takes a small accident to exceed their coverage. So UM/UIM coverage is very important. Frequently these limits are set the same as your liablity limits.
More quotes mean more savings
As you prepare to switch companies, it’s very important that you do not reduce coverage to reduce premium. There are too many instances where drivers have reduced physical damage coverage only to regret at claim time that they should have had better coverage. Your aim should be to get the best coverage possible at an affordable rate.
People change insurance companies for many reasons like lack of trust in their agent, being labeled a high risk driver, an unsatisfactory settlement offer or poor customer service. Whatever your reason, finding a new car insurance company can be pretty painless.
Throughout this article, we presented some good ideas how you can reduce car insurance prices online. The key thing to remember is the more providers you compare, the more likely it is that you will get a better rate. You may even find the biggest savings come from the least-expected company.
More information is available on the Ohio Department of Insurance website through this link. Ohio consumers can download brochures, report car insurance fraud, read consumer alerts, and learn about insurance regulations.
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