It takes a little time, but the best way to find more affordable auto insurance rates in Virginia Beach is to do an annual price comparison from insurance carriers that sell auto insurance in Virginia.
- Spend a few minutes and learn about how insurance works and the steps you can take to keep rates low. Many things that result in higher prices such as at-fault accidents, speeding tickets, and poor credit can be rectified by making small lifestyle or driving habit changes. This article gives more information to get cheaper coverage and get bigger discounts.
- Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like Progressive or Farmers Insurance, while independent agencies can quote rates for many different companies.
- Compare the price quotes to the price on your current policy and see if you can save money. If you find a better price, make sure there is no coverage gap between policies.
- Provide notification to your current agent or company of your intent to cancel your current car insurance policy and submit the signed application along with the required initial payment for the new coverage. As soon as you can, keep your new certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
The most important part of shopping around is that you use the same deductibles and limits on each quote request and and to get rate quotes from as many companies as you can. Doing this enables an accurate price comparison and maximum price selection.
It’s hard to fathom, but the vast majority of auto insurance customers have been with the same company for four years or more, and approximately 40% of consumers have never even compared quotes to find lower-cost rates. The average driver in Virginia Beach could save 45% every year just by comparing rates, but they don’t know the actual amount they would save if they moved their coverage to a different company.
Buying the cheapest insurance in Virginia Beach can really be easy if you know what you’re doing. If you are paying for car insurance now, you will be able to find better prices using the techniques presented in this article. But Virginia consumers can benefit from knowing how the larger insurance companies calculate your policy premium and take advantage of how the system works.
Save money on Hyundai Tiburon insurance in Virginia Beach with these nine discounts
Insuring your vehicles can cost a lot, but you might already qualify for some discounts that may help make it more affordable. Many discounts should be triggered at the time you complete a quote, but some may not be applied and must be asked about prior to receiving the credit.
- Driver Safety – Completing a course in defensive driver could save 5% or more and make you a better driver.
- Senior Discount – Seniors can get reduced rates.
- Low Mileage Discounts – Driving less could qualify for cheaper auto insurance rates.
- Own a Home and Save – Simply owning a home can get you a discount since home ownership demonstrates responsibility.
- Multiple Policy Discount – When you have multiple policies and insure them both with the same insurance company they may give you a discount of at least 10 to 15 percent or more.
- Driver’s Education for Students – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education in high school.
- Include Life Insurance and Save – Not all insurance carriers offer life insurance, but some may give you lower auto insurance rates if you buy a life insurance policy as well.
- Multiple Vehicles – Buying insurance for more than one vehicle on one policy may reduce the rate for each vehicle.
- Early Signing – Some auto insurance companies provide a discount for buying a policy before your current coverage expires. This can save 10% or more.
Don’t be surprised that most discount credits are not given to the overall cost of the policy. Most only apply to specific coverage prices like medical payments or collision. So even though you would think all the discounts add up to a free policy, companies don’t profit that way.
Some of the larger companies that may offer most of these discounts include:
It’s a good idea to ask every prospective company what discounts are available to you. Some credits may not be available in Virginia Beach. To view auto insurance companies with the best discounts in Virginia Beach, click this link.
Auto insurance 101
Learning about specific coverages of insurance can be of help when determining appropriate coverage for your vehicles. The terms used in a policy can be ambiguous and reading a policy is terribly boring.
Comprehensive coverage
Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as damage from flooding, a broken windshield, falling objects and hitting a deer. The highest amount you’ll receive from a claim is the actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Coverage for liability
This provides protection from damage or injury you incur to other’s property or people that is your fault. It protects YOU against claims from other people, and does not provide coverage for damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have liability limits of 25/50/20 that means you have a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and a total limit of $20,000 for damage to vehicles and property.
Liability coverage pays for claims like repair costs for stationary objects, court costs, funeral expenses, bail bonds and medical expenses. How much coverage you buy is up to you, but you should buy higher limits if possible. Virginia state minimum liability requirements are 25/50/20 but it’s recommended drivers buy more coverage.
The next chart shows why buying the state minimum limits may not be high enough to adequately cover claims.
Medical payments coverage and PIP
Personal Injury Protection (PIP) and medical payments coverage kick in for bills such as X-ray expenses, doctor visits and pain medications. They can be utilized in addition to your health insurance policy or if you do not have health coverage. They cover you and your occupants as well as any family member struck as a pedestrian. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Collision coverage
Collision insurance pays to fix your vehicle from damage resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage pays for things like rolling your car, backing into a parked car, crashing into a building, scraping a guard rail and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from lower value vehicles. You can also increase the deductible on your Tiburon to save money on collision insurance.
Uninsured/Underinsured Motorist coverage
This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries to you and your family as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits (25/50/20), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.
Quote more to save more
The cheapest Hyundai Tiburon insurance in Virginia Beach can be bought online as well as from insurance agents, so you should be comparing quotes from both so you have a total pricing picture. There are still a few companies who may not provide rate quotes online and these smaller providers only sell through local independent agents.
People change insurance companies for any number of reasons including an unsatisfactory settlement offer, policy cancellation, delays in paying claims and even high rates after DUI convictions. Whatever your reason, finding the right car insurance provider is pretty simple and you could end up saving a buck or two.
As you go through the steps to switch your coverage, don’t be tempted to sacrifice coverage to reduce premiums. There are many occasions where drivers have reduced uninsured motorist or liability limits to discover at claim time that the few dollars in savings costed them thousands. Your objective should be to find the BEST coverage at the best price while not skimping on critical coverages.
For more information, feel free to browse the articles below:
- Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
- How Much are Car Insurance Rates for Drivers Requiring a SR22 in Virginia Beach? (FAQ)
- How Much are Car Insurance Quotes for Postal Workers in Virginia Beach? (FAQ)
- Who Has Cheap Car Insurance Quotes for a Dodge Ram in Virginia Beach? (FAQ)
- Who Has the Cheapest Car Insurance Quotes for Drivers with Good Credit in Virginia Beach? (FAQ)
- What Does No-Fault Insurance Cover? (Allstate)
- Car Insurance: When not to Skimp (BankRate.com)
- Insurance Losses by Make and Model (iihs.org)