Think you have an expensive car insurance policy? It’s a common feeling and there are many people just like you.
A study showed that over 70% of consumers kept their policy with the same company for more than four years, and approximately 40% of consumers have never compared rates from other carriers. Drivers in Greensboro could save approximately 10% every year, but they just don’t understand the rate savings if they changed companies.
Steps to buying lower priced Hyundai Equus insurance in Greensboro
The easiest way to find the cheapest price for car insurance rates is to do a yearly price comparison from different companies who provide auto insurance in Greensboro.
- Read and learn about how auto insurance works and the things you can change to keep rates low. Many things that cause rate increases such as high-risk driving behaviors and a low credit score can be eliminated by making minor driving habit or lifestyle changes.
- Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only quote rates from a single company like Progressive or State Farm, while agents who are independent can give you price quotes from multiple insurance companies. Click to view companies
- Compare the new rate quotes to your existing coverage to see if a cheaper rate is available in Greensboro. If you find a better price and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Provide notification to your current agent or company of your intention to cancel your current coverage. Submit a down payment along with a completed application to your new insurance company. As soon as you receive it, store the certificate of insurance with your registration paperwork.
One key aspect when comparing rates is to make sure you’re comparing similar deductibles and liability limits on every quote and to quote with as many car insurance companies as possible. Doing this guarantees the most accurate price comparison and the best price selection.
Due to the fact that there are so many different company options, it can be difficult for drivers to find a lower cost insurance company.
Auto insurance coverage information
Learning about specific coverages of your policy helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be ambiguous and even agents have difficulty translating policy wording. Below you’ll find the normal coverages offered by insurance companies.
Coverage for collisions
Collision coverage pays for damage to your Equus resulting from a collision with another car or object. You first must pay a deductible and then insurance will cover the remainder.
Collision coverage protects against things like scraping a guard rail, hitting a mailbox, crashing into a ditch, backing into a parked car and crashing into a building. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to increase the deductible on your Equus in order to get cheaper collision rates.
This will cover injuries or damage you cause to people or other property by causing an accident. Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You might see values of 30/60/25 which means a limit of $30,000 per injured person, a total of $60,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property. Another option is one number which is a combined single limit which provides one coverage limit and claims can be made without the split limit restrictions.
Liability coverage pays for claims such as repair costs for stationary objects, emergency aid, pain and suffering, structural damage and loss of income. How much coverage you buy is up to you, but you should buy as large an amount as possible. North Carolina requires minimum liability limits of 30/60/25 but drivers should carry better liability coverage.
The next chart demonstrates why buying minimum limits may not be adequate coverage.
Coverage for medical payments
Med pay and PIP coverage reimburse you for short-term medical expenses for things like hospital visits, nursing services, surgery and prosthetic devices. The coverages can be used to cover expenses not covered by your health insurance policy or if you lack health insurance entirely. They cover you and your occupants and will also cover getting struck while a pedestrian. PIP is only offered in select states and gives slightly broader coverage than med pay
This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things such as rock chips in glass, a tree branch falling on your vehicle, a broken windshield and hitting a deer. The most a insurance company will pay at claim time is the ACV or actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your Hyundai Equus.
Because many people only purchase the least amount of liability that is required (30/60/25), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually these coverages do not exceed the liability coverage limits.
You just read a lot of tips how to lower your Hyundai Equus insurance prices in Greensboro. The key thing to remember is the more quotes you get, the better your comparison will be. You may even find the lowest priced car insurance comes from a smaller regional carrier. They may have significantly lower rates on certain market segments as compared to the big name companies such as Progressive and GEICO.
When searching for cheaper Greensboro car insurance quotes, it’s not a good idea to skimp on coverage in order to save money. In too many instances, someone sacrificed liability limits or collision coverage only to regret that the few dollars in savings costed them thousands. Your strategy should be to find the BEST coverage for the lowest cost, but don’t skip important coverages to save money.
Steps to finding cheaper rates for Hyundai Equus insurance in Greensboro
The preferred way to find affordable Hyundai Equus insurance is to begin comparing prices regularly from providers that insure vehicles in Greensboro.
- Step 1: Try to learn a little about how companies set rates and the changes you can make to keep rates down. Many policy risk factors that cause high rates like at-fault accidents, speeding tickets, and a not-so-good credit rating can be rectified by making small lifestyle or driving habit changes.
- Step 2: Compare price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from one company like Progressive and State Farm, while independent agents can provide price quotes from multiple insurance companies.
- Step 3: Compare the new rate quotes to your existing policy and see if there is a cheaper rate in Greensboro. If you can save money and change companies, ensure there is no coverage lapse between policies.
- Step 4: Provide notification to your current agent or company of your intention to cancel the current policy. Submit a signed application and payment to the new company. Make sure you place your new certificate verifying coverage somewhere easily accessible.
The most important part of shopping around is that you’ll want to compare the same amount of coverage on every price quote and and to get price estimates from as many different insurance providers as possible. Doing this ensures the most accurate price comparison and the most accurate and complete price analysis.
For more information, take a look at the resources below:
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- What Insurance is Cheapest for a Ford Focus in Greensboro? (FAQ)
- How Much are Auto Insurance Rates for Uninsured Drivers in Greensboro? (FAQ)
- Who Has Cheap Auto Insurance for a GMC Sierra in Greensboro? (FAQ)
- Who Has Cheap Auto Insurance for Drivers with Good Credit in Greensboro? (FAQ)
- Speed and Speed Limit FAQ (iihs.org)
- Smart Auto Insurance Tips (Insurance Information Institute)