Are you regretting buying an expensive insurance policy? Believe me when I say you’re not the only one.
It’s an obvious conclusion that auto insurance companies don’t want their policyholders to compare prices. Insureds who shop for lower rates are likely to switch insurance companies because there is a high probability of finding coverage at a cheaper rate. Surprisingly, a recent survey revealed that drivers who compared price quotes annually saved approximately $860 a year compared to those who don’t regularly compare prices.
If finding the cheapest rates on Mitsubishi i-MiEV insurance is your intention, then knowing the best way to shop and compare insurance coverage can save time and money.
How to find affordable quotes for Mitsubishi i-MiEV insurance in Memphis
If you want to save the most money, the best way to find cheaper quotes for Mitsubishi i-MiEV insurance is to start doing a yearly price comparison from companies who sell auto insurance in Memphis.
- Step 1: Learn about how companies set rates and the steps you can take to keep rates down. Many rating criteria that are responsible for high rates like traffic violations, accidents, and poor credit history can be remedied by improving your driving habits or financial responsibility.
- Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give rate quotes from a single company like Progressive or Farmers Insurance, while independent agents can give you price quotes from many different companies. Click to view companies
- Step 3: Compare the new rate quotes to your existing policy and determine if there is any savings. If you find a better price and buy the policy, make sure coverage is continuous and does not lapse.
- Step 4: Provide adequate notice to your current company to cancel your current car insurance policy and submit a down payment and signed policy application to the new insurer. As soon as you receive it, put the certificate verifying coverage in your glove compartment.
One key aspect when comparing rates is that you use identical deductibles and limits on each price quote and and to get prices from as many carriers as you can. This ensures a level playing field and a complete rate analysis.
Due to the abundance of choices of insurance companies that have lower-cost insurance for a Mitsubishi i-MiEV in Memphis, it is hard for the average consumer to find the most affordable insurer.
It’s a good idea to compare prices on a regular basis due to the fact that insurance prices go up and down regularly. Even if you got the lowest price on Mitsubishi i-MiEV insurance in Memphis a year ago the chances are good that you can find a lower rate today. Forget all the misinformation about insurance because you’re going to get a crash course in the easiest way to find better rates and still maintain coverage.
This article will familiarize you with how car insurance companies work and how you can save the most money. If you have coverage now, you will most likely be able to shop for the lowest rates using the concepts you’re about to learn. Drivers just have to understand the tricks to find the lowest price on the web.
Smart Consumers Can Cut Their Insurance Premiums
Lots of things are considered when you get a price on insurance. A few of the factors are predictable such as traffic violations, but some are less apparent such as your marital status or your financial responsibility.
- Insurance costs and vehicle performance – The performance of the vehicle you are trying to find cheaper insurance for makes a substantial difference in your car insurance bill. Lower cost passenger models generally have the cheapest insurance rates, but other factors influence the final cost greatly.
- The higher your credit score the lower your costs – Credit rating factor in calculating your car insurance rates. Insureds that have very good credit scores tend to be more responsible as compared to drivers with lower credit scores. If your credit score is not that good, you could potentially save money when insuring your Mitsubishi i-MiEV by improving your credit score.
- Alarm systems systems cut premiums – Choosing a vehicle that has a built-in theft deterrent system can save you some money. Theft deterrent systems like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can thwart car theft.
- Don’t get traffic citations – Only having one speeding ticket or other violation can increase rates substantially. Attentive drivers receive lower rates than bad drivers. Drivers who have received dangerous tickets such as hit and run, DWI or reckless driving convictions might be required by their state to file a SR-22 with their state in order to legally drive a vehicle.
- Costs can change based on your address – Choosing to live in a small town has definite advantages when trying to find low car insurance rates. Fewer drivers means a lower chance of having an accident in addition to fewer liability claims. Residents of big cities regularly have more traffic problems and much longer commute distances. Longer commute distances means more chances of being involved in an auto accident.
- Raising physical damage deductibles lowers rates – Physical damage coverage, also called comprehensive and collision insurance, helps pay for damage to your vehicle. Some coverage claims are colliding with a building, hitting a deer, or theft. The deductibles you choose define the amount you are required to spend if the claim is covered. The more money the insured is willing to pay, the less your car insurance will be.
- The more you drive the more you pay – Driving a lot of miles in a year the more you will pay for car insurance. Most insurance companies rate vehicles partially by how you use the vehicle. Cars left parked in the garage cost less to insure than vehicles that have high annual mileage. An incorrectly rated i-MiEV may be wasting your money. It’s a good idea to make sure your car insurance policy reflects the right rating data, because improper ratings can cost you money.
Slash rates with these discounts
Some insurance providers do not advertise all available discounts very well, so below is a list both well-publicized and the more hidden discounts that you can inquire about if you buy Memphis auto insurance online.
- Policy Bundle Discount – If you have multiple policies with one company you could earn a discount of 10% to 20% off each policy.
- Discount for Life Insurance – Some insurance companies give a discount if you purchase some life insurance in addition to your auto policy.
- Discounts for New Vehicles – Buying a new car model can cost up to 25% less since new vehicles are generally safer.
- Multiple Cars – Insuring primary and secondary vehicles with one company can get a discount on all vehicles.
- Driving Data Discount – People who choose to allow driving data collection to scrutinize driving manner by using a telematic data system such as Snapshot from Progressive or Drivewise from Allstate could see a rate decrease as long as the data is positive.
- Sign Online – A handful of larger companies will discount your bill up to fifty bucks for signing up over the internet.
- Active Military Service – Having a family member in the military could qualify you for better insurance rates.
A little note about advertised discounts, most of the big mark downs will not be given to all coverage premiums. Some only reduce individual premiums such as comprehensive or collision. So even though they make it sound like you would end up receiving a 100% discount, that’s just not realistic.
Companies that have many of the previously listed discounts are:
Check with each company the best way to save money. Some discounts may not be offered in Memphis. To view insurers with the best discounts in Tennessee, click this link.
A conclusion for your insurance search
When getting Memphis auto insurance quotes online, it’s not a good idea to buy poor coverage just to save money. In many instances, someone sacrificed collision coverage only to regret at claim time that the few dollars in savings costed them thousands. Your objective should be to get the best coverage possible for the lowest cost.
Some insurance companies may not offer online rate quotes and usually these smaller providers provide coverage only through independent agents. Lower-priced insurance in Memphis can be found from both online companies and from local insurance agents, and you should be comparing both to get a complete price analysis.
Steps to finding better rates for Mitsubishi i-MiEV insurance in Memphis
The best way we recommend to find more affordable Mitsubishi i-MiEV insurance in Memphis is to make a habit of regularly comparing prices from insurers who sell auto insurance in Tennessee. Rate comparisons can be done by following these guidelines.
First, read about how companies price auto insurance and the measures you can control to drop your rates. Many risk factors that increase rates like traffic violations and an unfavorable credit rating can be improved by being financially responsible and driving safely.
Second, compare rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO or Allstate, while agents who are independent can quote rates from many different companies.
Third, compare the new rate quotes to your existing coverage to see if cheaper i-MiEV coverage is available in Memphis. If you can save money and make a switch, make sure there is no coverage gap between policies.
Fourth, give proper notification to your current agent or company of your intention to cancel your current car insurance policy and submit the completed application along with a down payment for the new coverage. Be sure to put the certificate of insurance with your registration paperwork.
One thing to point out is that you’ll want to make sure you compare identical coverage information on each quote request and and to get price estimates from all possible companies. This guarantees an apples-to-apples comparison and a better comparison of the market.
Much more information about insurance in Tennessee is available at the links below
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Who Has Affordable Car Insurance Rates for Drivers with a DUI in Memphis? (FAQ)
- Who Has Affordable Auto Insurance for Drivers with Accidents in Memphis? (FAQ)
- Shopping for a Safe Car (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)
- Safety Features for Your New Car (State Farm)
- Understanding Limits and Deductibles (Allstate)