Nobody that owns a car enjoys paying for insurance, particularly when they could lower their rates if they shopped around.
It's a known fact that auto insurance companies don't want customers comparing rates. Consumers who get price quotes annually will presumably switch insurance companies because of the good chance of finding a more affordable policy premium. A recent survey found that consumers who shopped around annually saved an average of $3,500 over four years compared to people who never shopped around for cheaper prices.
If finding the cheapest price on insurance is your ultimate goal, learning how to find and compare auto insurance can make shopping around easier. Lots of insurers contend for your insurance dollar, and it can be difficult to compare rates and uncover the absolute lowest rate possible on Tesla Model S insurance in Plano.
If you are already insured or just want to save money, you can use these techniques to shop for the lowest rates and still get good coverage. Finding the cheapest coverage in Plano is actually quite easy if you know where to start. Smart shoppers just have to understand the fastest way to shop their coverage around from many different companies.
Lower-cost Tesla Model S insurance rates in Plano
Companies offering auto insurance do not list every discount available in an easy-to-find place, so we took the time to find both the well known and also the more inconspicuous credits that you can use to lower your rates.
- E-sign - Certain larger companies will provide an incentive for buying a policy and signing up on the internet.
- Full Payment Discount - By paying your policy upfront rather than paying in monthly installments you can avoid monthly service charges.
- Discounts for Seat Belt Usage - Using a seat belt and requiring all passengers to buckle their seat belts can save up to 15% off the PIP or medical payment premium.
- ABS Brakes - Cars and trucks that have steering control and anti-lock brakes prevent accidents and earn discounts up to 10%.
- Mature Driver Discount - Mature drivers may qualify for a small discount on rates.
One last thing about discounts, most of the big mark downs will not be given to the whole policy. Most only apply to the price of certain insurance coverages like comp or med pay. Even though it may seem like it's possible to get free car insurance, company stockholders wouldn't be very happy.
Companies and some of their more popular discounts are outlined below.
- State Farm offers discounts for Steer Clear safe driver discount, Drive Safe & Save, driver's education, defensive driving training, passive restraint, and good student.
- American Family offers discounts including air bags, defensive driver, good student, early bird, TimeAway discount, and multi-vehicle.
- AAA includes discounts for good student, pay-in-full, multi-car, multi-policy, and good driver.
- GEICO offers premium reductions for air bags, multi-vehicle, membership and employees, multi-policy, good student, and military active duty.
- Mercury Insurance may offer discounts for type of vehicle, anti-theft, ease of repair, multi-car, multi-policy, annual mileage, and good student.
- Farmers Insurance may have discounts that include good student, multi-car, pay in full, homeowner, and bundle discounts.
- Progressive has discounts for homeowner, multi-policy, online quote discount, continuous coverage, good student, multi-vehicle, and online signing.
When quoting, ask each company the best way to save money. Discounts may not apply to policies everywhere.
Car insurance coverage information
Having a good grasp of your insurance policy helps when choosing which coverages you need for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. These are typical coverage types found on most insurance policies.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured or Underinsured Motorist coverage protects you and your vehicle's occupants from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries and damage to your Tesla Model S.
Due to the fact that many Texas drivers have only the minimum liability required by law (Texas limits are 30/60/25), it only takes a small accident to exceed their coverage. That's why carrying high Uninsured/Underinsured Motorist coverage is very important.
This covers damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against claims like hitting a bird, hail damage, hitting a deer and damage from a tornado or hurricane. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if it's not worth much more than your deductible it's not worth carrying full coverage.
Liability auto insurance
This will cover damages or injuries you inflict on people or other property. This coverage protects you from claims by other people. Liability doesn't cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You might see policy limits of 30/60/25 that translate to $30,000 bodily injury coverage, a total of $60,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.
Liability coverage pays for things like loss of income, attorney fees, medical services, medical expenses and pain and suffering. How much coverage you buy is up to you, but buy as high a limit as you can afford. Texas state minimum liability requirements are 30/60/25 but you should consider buying more coverage.
The chart below demonstrates why minimum state limits may not be enough.
Med pay and Personal Injury Protection (PIP)
Med pay and PIP coverage pay for immediate expenses for things like prosthetic devices, rehabilitation expenses, nursing services and pain medications. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover both the driver and occupants in addition to getting struck while a pedestrian. PIP is not an option in every state but can be used in place of medical payments coverage
Collision coverage will pay to fix damage to your Model S resulting from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.
Collision can pay for things such as sustaining damage from a pot hole, rolling your car, hitting a parking meter, damaging your car on a curb and colliding with a tree. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. You can also bump up the deductible on your Model S to save money on collision insurance.
Lower-priced Tesla Model S insurance in Plano is attainable from both online companies as well as from insurance agents, so you should compare both so you have a total pricing picture. Some insurance providers may not have online price quotes and these regional insurance providers work with independent insurance agencies.
When searching for cheaper Plano car insurance quotes, it's very important that you do not reduce needed coverages to save money. In many instances, an insured dropped liability coverage limits and learned later that a couple dollars of savings turned into a financial nightmare. Your goal is to buy the best coverage you can find at the best price while still protecting your assets.
How to find low-cost rates for Tesla Model S insurance in Plano
It takes a little time, but the best way to find lower priced auto insurance rates in Plano is to start comparing prices regularly from different companies in Texas. Drivers can shop around by following these steps.
- Take a little time to learn about how auto insurance works and the factors you can control to keep rates in check. Many risk factors that increase rates such as traffic violations and poor credit history can be amended by making small lifestyle or driving habit changes.
- Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from one company like GEICO and State Farm, while independent agents can provide rate quotes for a wide range of insurance providers.
- Compare the new rate quotes to your existing coverage and see if there is a cheaper rate in Plano. If you can save some money, make sure there is no lapse between the expiration of your current policy and the new one.
- Provide notification to your current company of your decision to cancel your current auto insurance policy and submit payment along with a signed and completed policy application for your new policy. Immediately put the certificate verifying proof of insurance in your vehicle.
One key aspect of rate comparisons is that you'll want to make sure you compare identical deductibles and limits on every price quote and and to compare as many carriers as you can. This enables an accurate price comparison and the best price selection.
Much more information about auto insurance in Texas can be read on the following sites:
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Who Has Cheap Plano Auto Insurance for a GMC Sierra? (FAQ)
- How Much is Plano Car Insurance After a Speeding Ticket? (FAQ)
- Who Has Affordable Plano Auto Insurance for College Students? (FAQ)
- What is Covered by an Auto Insurance Policy? (Insurance Information Institute)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Five Mistakes to Avoid (Insurance Information Institute)