Ever see a cheap car insurance rate in Pennsylvania and think, “Is this for real?” Here we take a look at what cheap auto insurance really means, which is “affordable”. Easy on the wallet, but still getting the “right” auto insurance for you and your vehicle.
Cheap Car Insurance without Skimping on Coverage
As a licensed driver in Pennsylvania, you’re required to carry minimum limits for your car insurance coverage. While this is technically cheap car insurance, it’s not sufficient coverage. Most minimum limits in almost any state won’t fully protect you financially if you were to get into a really bad car accident.
A coverage frequently pinched on to get a cheaper car insurance rate is bodily injury liability coverage. In the state of Pennsylvania, you have to carry $15,000 per person. If you hit a car and the driver is seriously hurt, the medical bills could be $40,000 as an example. So your car insurance may cover up to $15,000, but that means you’d be responsible for the remaining $25,000. Not good. For a few bucks more a month you’ll get the extra coverage to ensure you have enough protection against bodily injuries in the event of an at-fault accident.
Another area people frequently cut to get cheap insurance coverage is property damage coverage. The state minimum requires you to carry $5,000 in coverage, and dropping your coverage to this level will make your policy more affordable. That said, this amount could disappear quickly if you hit a guardrail or a house. If you increase it to $25,000 you’ll get better protection from scenarios like this for just a few more dollars a month.
Another way to make your car insurance more affordable would be to remove your uninsured or underinsured motorist coverage. Again if you do this to get a cheaper rate, you’re still putting yourself at risk if someone with no insurance (or only carries the state minimum) damages your car or injures you. This coverage protects you against that happening. Drivers who only carry minimum levels of car insurance, or gamble and drive without insurance, may have financial difficulties. If you sued them, it may be challenging to receive compensation for your damages. A small increase to your policy cost here will protect you against the worst.
Finally, when your loan or lease is paid off, you may want to make your car insurance more affordable by removing collision and comprehensive coverages. While this will make your car insurance cheaper, it’ll also leave you open to financial risk. If your ride was vandalized, stolen or broken into, you’d be responsible for any repairs that may be a big hit to your wallet. This collision and comprehensive isn’t that expensive and the peace of mind in knowing that you’re protected is invaluable.
How to Lower Your Car Insurance Costs
One way to get cheaper car insurance is to take advantage of car insurance discounts. Here are a few examples:
- Do you pay your bills on time? You could save up to 8% with our Good Payer Discount
- Have you been a safe driver and been accident free for 5 years or more? Congrats! You could save 10% with our Clean Driver Discount.
- Like to shop online yourself? You could save up to 11% with our Bound Online Credit
- Do you have more than one car to insure? You could save up to 25% when you insure multiple cars. Do you own a home AND multiple cars? Then that savings could jump up to 29%!
- Like to pay your bills in full rather than carry a balance? You could save up to 8% with our Paid in Full Discount
- Do you like to get your car insurance shopping done well in advance? Get a valid quote from us seven or more days prior to your policy’s effective date and you could get a credit of up to 6% on your policy to start out.
Car insurance is a balancing act. Spending less to get the cheapest car insurance rate will save you some money up front, but you may end up paying way more if you end up getting into an accident. It’s all about how much risk you’re willing to take on to either save money or have the peace of mind that if something goes wrong, you’ll be covered. Product Advisors at Verti can also make suggestions regarding discounts you may not have thought of to help you save more money while still getting the right car insurance coverage for you.