Save Money on Mitsubishi Lancer Insurance in Austin

Paying for pricey Mitsubishi Lancer insurance in Austin can draw down your savings account and possibly require postponing other expenditures. Getting a rate comparison is free, only takes a few minutes, and is a good way to ensure you are getting the best deal.

Amazingly, a large majority of drivers have been with the same company for four years or more, and approximately 40% of consumers have never quoted rates to find affordable coverage. Austin drivers could save an average of about 70% each year, but they underestimate the big savings they would realize if they bought a different policy. With vehicle owners having so many companies and agents to choose from, it is hard for the average consumer to locate the most cost effective insurance provider.

Finding the cheapest car insurance coverage in Austin is really quite simple as long as you have a good starting point. If you currently have car insurance, you will definitely be able to reduce premiums using the concepts you’re about to learn. Comparison shoppers only need an understanding of the quickest way to buy car insurance online.

The fastest way that we advise to compare car insurance company rates for Mitsubishi Lancer insurance in Austin is to understand all the major auto insurance companies allow for online access to provide you with free rate quotes. The only thing you need to do is give them rating details like if the vehicle is leased, if you require a SR-22, whether the vehicles are used for commuting, and if you have a valid license. Your details is sent automatically to many highly-rated insurers and you should receive rate quotes with very little delay.

To compare cheap Mitsubishi Lancer insurance rates now, click here and find out if you can get cheaper insurance in Austin.

The companies shown below provide free quotes in Austin, TX. If several companies are displayed, it’s a good idea that you click on several of them to get a more complete price comparison.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Premium amounts do not factor in your specific Austin location which can revise coverage prices significantly.

Difference between full coverage and liability only rates

The illustration below shows the comparison of Mitsubishi Lancer insurance costs when comparing full coverage to state minimum liability only. The data is based on no tickets, no at-fault accidents, $100 deductibles, single female driver, and no additional discounts are factored in.

When to drop comprehensive and collision coverage

There is no exact rule to delete comp and collision coverage, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than about 10% of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.

For example, let’s assume your Mitsubishi Lancer replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would get paid by your company is $3,000 after paying your deductible. If it’s costing in excess of $300 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.

There are some conditions where buying only liability insurance is not recommended. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

Rate comparison for different deductibles

The hardest decision when buying coverage is where to set your physical damage deductibles. The figures shown below approximate the costs and benefits between low and high comp and collision deductibles. The first price estimate table uses a $250 physical damage coverage deductible and the second price chart uses a $500 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Estimates do not factor in zip code location which can decrease or increase insurance rates greatly.

We can derive from the above data that using a $250 deductible costs about $19 more each month or $228 a year than buying the higher $500 deductible. Because you would be required to pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you have at a minimum 13 months between claims, you would more than likely save some money if you choose the higher deductible.

Auto insurance does more than just protect your car

Despite the high cost, insuring your vehicle may not be optional for several reasons.

First, almost all states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific level of liability protection in order to drive the car legally. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you have a loan on your Lancer, it’s most likely the lender will make it a condition of the loan that you have comprehensive coverage to protect their interest in the vehicle. If you do not keep the policy in force, the bank or lender will purchase a policy for your Mitsubishi at a significantly higher premium and force you to reimburse them the higher premium.

Third, insurance safeguards your Mitsubishi and your assets. It will also pay for medical transport and hospital expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, will also pay to defend you if you are sued as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay to repair the damage.

The benefits of having insurance more than offset the price you pay, especially for larger claims. Unknowingly, the average driver overpays more than $830 a year so shop around every year to ensure rates are competitive.

Austin insurance discounts for a Mitsubishi Lancer

Some insurers don’t always advertise the entire discount list in a way that’s easy to find, so the below list has some of the best known and the more hidden credits available to bring down your rates.

• Data Collection Discounts – Drivers that enable their insurance company to look at driving habits by using a small device installed in their vehicle such as Drivewise from Allstate or Snapshot from Progressive could possibly reduce rates if they have good driving habits.
• Service Members Pay Less – Having a family member in the military may qualify for rate reductions.
• Discount for Swiching Early – Some auto insurance companies provide a discount for buying a policy before your current coverage expires. It can save you around 10%.
• Anti-lock Brakes – Cars and trucks with ABS braking systems or traction control have fewer accidents and earn discounts up to 10%.
• Safe Driver Discounts – Drivers who don’t get into accidents can get discounts for up to 45% lower rates compared to accident prone drivers.
• Bundle and Save – When you combine your home and auto insurance with one insurance company you will save at least 10% off all policies.
• Air Bags and Passive Restraints – Vehicles equipped with air bags or motorized seat belts can receive discounts as much as 30%.
• College Student – Any of your kids who are attending college and do not take a car to college may qualify for this discount.
• Theft Prevention Discount – Anti-theft and alarm system equipped vehicles can help prevent theft and therefore earn up to a 10% discount.

It’s important to note that many deductions do not apply to the entire cost. Most only cut individual premiums such as 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.

A list of companies and some of the premium reductions they offer are outlined below.

• GEICO may offer discounts for emergency military deployment, seat belt use, good student, multi-policy, multi-vehicle, membership and employees, and driver training.
• MetLife may include discounts for claim-free, multi-policy, accident-free, good driver, defensive driver, and good student.
• Progressive has savings for good student, continuous coverage, multi-vehicle, multi-policy, online signing, online quote discount, and homeowner.
• Travelers has discounts for continuous insurance, early quote, multi-policy, driver training, student away at school, and save driver.
• SAFECO may have discounts that include bundle discounts, multi-car, accident prevention training, teen safe driver, homeowner, teen safety rewards, and anti-lock brakes.
• AAA policyholders can earn discounts including education and occupation, anti-theft, multi-policy, good driver, AAA membership discount, and multi-car.

When getting free Austin auto insurance quotes, it’s a good idea to every prospective company how many discounts you can get. Depending on the company, some discounts might not be offered on policies in Austin. To see a list of insurers with discount auto insurance rates in Texas, click here.

Buying from insurance agencies

Some consumers still prefer to buy from a local agent and that can be a smart move Good insurance agents can answer important questions and help you file claims. One of the best bonuses of comparing rates online is you can get cheap auto insurance rates and still have a local agent.

Upon completion of this form (opens in new window), the coverage information is sent to companies in Austin who will return price quotes and help you find cheaper coverage. It simplifies rate comparisons since you won’t have to leave your computer as quotes are delivered to the email address you provide. If you wish to compare prices from a particular provider, you would need to find their quoting web page and give them your coverage information.

Finding a good company requires more thought than just a cheap price. Ask your prospective agent these questions:

• What are the financial ratings for the companies they represent?
• Will you work with the agent or an assistant?
• Is there any savings for paying the full premium?
• Are they full-time agents?
• Does the agency have a current Errors and Omissions policy?
• Which insurance company do they prefer to write with?

Multiple types of car insurance agents in Austin

When searching for a good insurance agency, there are two different types of agents and how they can service your needs differently. Agents are categorized either exclusive or independent (non-exclusive). Both types of agents can do a good job, but it’s important to point out how they are different because it can impact which type of agent you select.

Exclusive Insurance Agents

These agents can only provide one company’s prices and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agents cannot shop your coverage around so they have no alternatives for high prices. Exclusive agents are usually well trained on their company’s products which helps offset the inability to provide other markets.

Shown below are exclusive insurance agents in Austin who may provide you with rate quotes.

View more Austin agents

Independent Insurance Agents

Agents that elect to be independent often have many company appointments so they can write business through lots of different companies and possibly get better coverage at lower prices. If they find a cheaper price, the agent simply finds a different carrier and you don’t have to do anything.

When comparing auto insurance prices, it’s a good idea to compare quotes from at a minimum one independent agency for maximum quote selection.

Listed below are independent insurance agents in Austin that can give you rate quotes.

View more Austin agents

Your auto insurance coverage should be tailored to you

When it comes to choosing the best auto insurance coverage for your vehicles, there really isn’t a “perfect” insurance plan. Everyone’s situation is a little different.

For instance, these questions might help in determining if you would benefit from an agent’s advice.

• What does UM/UIM cover?
• Do I need replacement cost coverage on my Mitsubishi Lancer?
• Is my camper covered for physical damage?
• Does coverage extend to a rental car in a foreign country?
• When can my company non-renew my policy?
• How much liability insurance is required?
• Should I buy full coverage?

If it’s difficult to answer those questions but one or more may apply to you, then you may want to think about talking to an insurance agent. To find an agent in your area, take a second and complete this form. It’s fast, free and may give you better protection.

You can find cheap coverage

Discount Mitsubishi Lancer insurance in Austin can be found both online and with local Austin insurance agents, so you should compare both so you have a total pricing picture. A few companies don’t offer the ability to get quotes online and usually these regional insurance providers provide coverage only through independent agents.

When trying to cut insurance costs, don’t be tempted to buy lower coverage limits just to save a few bucks. Too many times, someone dropped uninsured motorist or liability limits only to regret at claim time that it was a big mistake. The proper strategy is to buy a smart amount of coverage at the best possible price and still be able to protect your assets.

We covered some good ideas how to compare Mitsubishi Lancer insurance prices in Austin. The most important thing to understand is the more companies you get rates for, the better likelihood of getting affordable Mitsubishi Lancer insurance quotes. You may even be surprised to find that the most savings is with some of the lesser-known companies.

For more information, link through to these articles:

• Auto Insurance 101 (About.com)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)
• Neck Injury FAQ (iihs.org)