How to Save on Plano Mitsubishi Lancer Insurance

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Insurance for Mitsubishi LancerDo you want a faster way to compare low-cost Mitsubishi Lancer insurance in Plano? Finding low cost coverage rates for Mitsubishi Lancer insurance in Plano can seem to be a challenge for drivers new to comparison shopping online. You have so many agents and companies to choose from that it can turn into a difficult situation to find more affordable Mitsubishi Lancer insurance rates.

How to buy cheaper Mitsubishi Lancer insurance in Plano

The most effective way to get cheaper Mitsubishi Lancer insurance in Plano is to start comparing prices yearly from different companies in Texas.

  • Step 1: Get a basic knowledge of coverages and the factors you can control to prevent rate increases. Many risk factors that result in higher rates such as accidents, traffic violations, and a substandard credit score can be controlled by paying attention to minor details. This article gives additional tips to help reduce prices and find additional discounts you may qualify for.
  • Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like GEICO or State Farm, while agents who are independent can provide price quotes for a wide range of companies. Find a Plano insurance agent
  • Step 3: Compare the new rate quotes to the premium of your current policy to see if a cheaper price is available. If you can save money and change companies, make sure coverage is continuous and does not lapse.
  • Step 4: Notify your current company to cancel your current auto insurance policy and submit the completed application along with a down payment to the new insurer. Make sure you put the certificate verifying coverage in your glove compartment.

A good piece of advice is to try to use the same level of coverage on each quote request and and to get quotes from as many companies as feasibly possible. Doing this helps ensure a fair price comparison and a thorough price selection.

We don't have to point out that fact that insurance companies don't want their customers to go rate shopping. People who shop for lower prices will probably buy a different policy because there is a high probability of finding more affordable rates. A survey found that people who routinely compared rates saved about $72 a month compared to other drivers who never compared prices.

If finding budget-friendly rates on Mitsubishi Lancer insurance in Plano is your objective, then having a grasp of how to quote and compare auto insurance can save time, money, and frustration.

You need to get comparison quotes once or twice a year due to the fact that insurance prices are constantly changing. Even if you got the lowest rates on Mitsubishi Lancer insurance in Plano on your last policy you can probably find a lower rate today. There is a lot of bad advice regarding Lancer insurance on the internet, but I'm going to show you a bunch of ideas how to stop overpaying for insurance in Plano.

If you have coverage now, you will definitely be able to cut your premiums using the techniques covered below. Finding and buying the best-priced auto insurance policy in Plano is not as hard as you think. But Texas vehicle owners can benefit from knowing the methods companies use to price insurance differently because it varies considerably.

Compare quotes for Plano Mitsubishi Lancer insurance

Most larger insurance companies such as State Farm, GEICO and Progressive give insurance quotes from their websites. Doing online price comparisons for Mitsubishi Lancer insurance in Plano is quite simple as all you need to do is type in your personal and coverage information into the form. Once you submit the form, their quoting system makes automated requests for reports for credit and driving violations and provides a quote based on these factors.

Quoting online for Mitsubishi Lancer insurance in Plano makes it easy to compare insurance prices and it's necessary to get many rate quotes in order to get the best rate on insurance.

To compare pricing, consider comparing rates from the companies shown below. If you currently have coverage, we recommend that you enter the limits and deductibles identical to your current policy. This makes sure you will be getting a price comparison for similar insurance coverage.

The companies in the list below provide free quotes in Texas. To locate cheap car insurance in Texas, we suggest you visit several of them in order to find the most affordable rates.

Insurance coverage analysis

The premium table below outlines a range of prices for Mitsubishi Lancer models. Being more informed about how auto insurance premiums are established is important for drivers to make smart choices when buying a car insurance policy.

Mitsubishi Lancer Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $286 $572 $400 $24 $120 $1,402 $117
Lancer ES $286 $572 $400 $24 $120 $1,402 $117
Lancer GTS $318 $660 $400 $24 $120 $1,522 $127
Lancer Sportback GTS $318 $660 $400 $24 $120 $1,522 $127
Lancer RALLIART $350 $746 $400 $24 $120 $1,640 $137
Lancer Sportback Ralliart $350 $746 $400 $24 $120 $1,640 $137
Get Your Own Custom Quote Go

Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, homeowner, and multi-policy. Rate quotes do not factor in specific zip code location which can raise or lower premiums noticeably.

Deductible comparison

One frequently asked question is where should you set your physical damage deductibles. The rates below determine how much more rates are when you buy lower versus higher insurance deductibles. The first pricing table uses a $100 physical damage coverage deductible and the second price chart uses a $500 deductible.

Mitsubishi Lancer insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $370 $698 $382 $22 $114 $1,611 $134
Lancer ES $370 $698 $382 $22 $114 $1,611 $134
Lancer GTS $412 $804 $382 $22 $114 $1,759 $147
Lancer Sportback GTS $412 $804 $382 $22 $114 $1,759 $147
Lancer RALLIART $454 $908 $382 $22 $114 $1,905 $159
Lancer Sportback Ralliart $454 $908 $382 $22 $114 $1,905 $159
Get Your Own Custom Quote Go
Mitsubishi Lancer insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $270 $472 $382 $22 $114 $1,260 $105
Lancer ES $270 $472 $382 $22 $114 $1,260 $105
Lancer GTS $300 $542 $382 $22 $114 $1,360 $113
Lancer Sportback GTS $300 $542 $382 $22 $114 $1,360 $113
Lancer RALLIART $332 $614 $382 $22 $114 $1,464 $122
Lancer Sportback Ralliart $332 $614 $382 $22 $114 $1,464 $122
Get Your Own Custom Quote Go

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Table data does not factor in garaging location in Plano which can change prices greatly.

Based on these figures, using a $100 deductible costs about $34 more each month or $408 each year averaged for all Lancer models than selecting the higher $500 deductible. Since you would pay $400 more to settle a claim with a $500 deductible as compared to a $100 deductible, if you have at a minimum 12 months between claim filings, you would probably be better off if you choose the higher deductible.

How to calculate deductible break even point

Average monthly premium for $100 deductibles: $147
Average monthly premium for $500 deductibles (subtract): - $113
Monthly savings from raising deductible: $34
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $34
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 12 months

One important note is that raising deductibles to save money means you will have to pay more when you have a claim. That will require enough extra money in the event you need to pay the deductible to have repairs made.

The information below illustrates how your deductible choice and can influence Mitsubishi Lancer annual premium costs for each age group. The data assumes a married male driver, comp and collision included, and no discounts are applied to the premium.

Careless driving habits raise Plano car insurance rates

The information below highlights how speeding tickets and at-fault claims can drive up Mitsubishi Lancer insurance costs for different insured age categories. The price estimates are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are applied.

Mitsubishi Lancer insurance rates: Men versus women

The diagram below shows the difference between Mitsubishi Lancer premium costs for male and female drivers. The information is based on no violations or accidents, comprehensive and collision coverage, $100 deductibles, single status, and no other discounts are factored in.

Here's why car insurance is not optional

Despite the high cost, maintaining insurance may be required and benefits you in several ways.

  • Just about all states have mandatory insurance requirements which means you are required to carry specific limits of liability insurance if you don't want to risk a ticket. 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.
  • If you bought your Lancer with a loan, most banks will make it mandatory that you have insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender will be forced to insure your Mitsubishi for a lot more money and require you to reimburse them the higher price.
  • Insurance safeguards both your Mitsubishi Lancer and your personal assets. It also can pay for all forms of medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage also pays expenses related to your legal defense if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive (other-than-collision) and collision coverage will pay to repair the damage minus the deductible amount.

The benefits of buying enough insurance are without a doubt worth the cost, specifically if you ever have a liability claim. As of last year, the average driver in Texas overpays more than $820 a year so you should quote your policy with other companies once a year at a minimum to be sure current rates are still competitive.

Why Your Insurance Rates might be higher

Multiple criteria are used when you get your auto insurance bill. A few of the factors are predictable like an MVR report, but some are more obscure like your vehicle usage or how safe your car is. Consumers need to have an understanding of some of the elements that go into determining your premiums. If you know what influences your rates, this enables you to make decisions that may reward you with big savings.

The itemized list below are some of the most common factors used by insurance companies to determine rates.

The higher your credit history the lower your prices - A driver's credit score factor in determining premium rates. Drivers who have very high credit ratings tend to file fewer claims and have better driving records than drivers with worse credit. If your credit could use some work, you could potentially save money when insuring your Mitsubishi Lancer by taking the time to improve your credit score.

Younger drivers cost more - Beginning drivers in Texas have been known to be careless and easily distracted when at the wheel of a vehicle so they pay higher car insurance rates. Older, more experienced drivers tend to be more responsible, file fewer claims, and receive fewer citations.

The data below uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

Big cities have higher costs - Having an address in less populated areas of the country is a positive aspect when it comes to car insurance. Lower population means reduced accidents and a lower car theft rate. People who live in big cities have to deal with more traffic problems and more time behind the wheel. Longer commute distances can result in more accidents.

What are your coverage deductibles? - Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your Mitsubishi from damage. Some coverage claims would be colliding with a building, hitting a deer, and rolling your vehicle. Your deductibles are the amount of money the insured will be required to pay before your car insurance pays a claim. The larger the amount you pay before a claim is paid (deductible), the less your company will charge you for insurance.

Combining policies can get discounts - Most major insurance companies provide discounts for people who buy several policies from them. It's known as a multi-policy discount. Discounts can add up to ten percent or more. Even if you already get this discount, drivers will still want to compare other company rates to help ensure you have the lowest rates.

Mitsubishi Lancer claim statistics - Auto insurance companies use past insurance losses when setting premium costs. Models that historically have higher claim frequency or loss amount will have increased rates. The table below shows the insurance loss data used by companies for Mitsubishi Lancer vehicles.

For each policy coverage type, the statistical loss for all vehicles as a whole is equal to 100. Percentage numbers below 100 indicate better than average losses, while values over 100 show a trend for more claims or an increased probability of a larger loss.

Mitsubishi Lancer Insurance Loss Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Mitsubishi Lancer 2WD 153 146 127 192 218 172
Mitsubishi Lancer 4WD 149 131 148 135
Mitsubishi Lancer Evolution 4WD 225 123 221
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years

Insurance is unique, just like you

Keep in mind that when it comes to choosing coverage online or from an agent, there really is no single plan that fits everyone. Your situation is unique and your insurance should be unique as well.Drive safe and save These are some specific questions may help you determine if your insurance needs may require specific advice.

  • Are split liability limits better than a combined single limit?
  • Am I covered if I crash into my own garage door?
  • Am I covered if I have no license?
  • What does PIP insurance cover?
  • What does UM/UIM cover?
  • Is my babysitter covered when using my vehicle?

If you don't know the answers to these questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find lower rates from a local agent, fill out this quick form or you can go here for a list of companies in your area.

Smart shoppers get results

In this article, we presented many ideas to shop for Mitsubishi Lancer insurance online. The most important thing to understand is the more rate quotes you have, the higher your chance of finding low cost Plano auto insurance quotes. Consumers could even find that the lowest prices come from an unexpected company. Smaller companies may have significantly lower rates on certain market segments than their larger competitors like Allstate or State Farm.

Lower-priced Mitsubishi Lancer insurance in Plano is available both online in addition to local insurance agencies, so get free Plano auto insurance quotes from both of them in order to have the best price selection to choose from. A few companies do not offer online quoting and many times these smaller companies prefer to sell through independent agencies.

When buying insurance coverage, never reduce coverage to reduce premium. There are many occasions where someone dropped physical damage coverage only to discover later that the small savings ended up costing them much more. The goal is to purchase plenty of coverage for the lowest cost, but do not skimp to save money.

How to buy affordable Mitsubishi Lancer insurance in Plano

If saving the most money is your goal, then the best way to get more affordable Mitsubishi Lancer insurance in Plano is to make a habit of regularly comparing prices from providers in Texas.

  1. Get an understanding of coverages and the steps you can take to prevent expensive coverage. Many factors that result in higher prices such as distracted driving and poor credit rating can be amended by making minor changes in your lifestyle.
  2. Request rate estimates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only give rate quotes from one company like GEICO and Allstate, while independent agents can quote prices for many different companies. Get quotes now
  3. Compare the new rate quotes to the price on your current policy to determine if switching companies saves money. If you find a better price and decide to switch, verify that coverage does not lapse between policies.

One bit of advice is to use similar limits and deductibles on each price quote and and to get price estimates from as many carriers as you can. This ensures a level playing field and many rates to choose from.

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