Astonishing but true, most consumers have stayed with the same insurance company for more than four years, and approximately 38% of consumers have never compared rates from other carriers. Many consumers in California could save an average of about 35% each year, but most tend to underestimate the amount of savings they would get if they swap their current policy for a cheaper one.
The most effective way to get affordable Mitsubishi Lancer insurance is to regularly compare price quotes from companies in Irvine. You can compare rates by following these steps.
First, learn about individual coverages and the things you can control to keep rates low. Many things that drive up the price such as your driving record and an imperfect credit score can be remedied by making minor changes to your lifestyle.
Second, get rate quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like Progressive and State Farm, while independent agencies can quote prices from multiple sources.
Third, compare the new rate quotes to your existing policy and determine if there is any savings. If you find better rates and switch companies, make sure there is no lapse in coverage.
Fourth, notify your agent or company of your intention to cancel your current policy and submit the required down payment along with the signed application for your new coverage. As soon as you can, put the proof of insurance certificate along with the vehicle’s registration papers.
An important note is that you’ll want to compare the same level of coverage on each quote request and and to get rate quotes from as many different companies as possible. This enables the most accurate price comparison and a better comparison of the market.
Locating the most cost-effective car insurance policy in Irvine is actually very simple if you learn how to start. If you have a current car insurance policy, you should be able to cut your premiums using the techniques covered below. Although California vehicle owners must know the way insurance companies price online insurance because rates are impacted by many factors.
Mitsubishi Lancer insurance charts and tables
The premium table displayed below highlights estimates of prices for Mitsubishi Lancer models. Being aware of how policy rates are formulated can help guide drivers when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Lancer Sportback GTS||$370||$804||$500||$30||$150||$1,854||$155|
|Lancer Sportback Ralliart||$406||$910||$500||$30||$150||$1,996||$166|
|Get Your Own Custom Quote Go|
Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and California minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Rates do not factor in specific garaging location which can raise or lower rates noticeably.
Full coverage or liability only
The illustration below shows the comparison of Mitsubishi Lancer insurance costs with full coverage compared to only the California minimum liability coverage. The premium estimates are based on no violations or claims, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
When to drop comprehensive and collision coverage
There isn’t a steadfast formula to eliminate physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Mitsubishi Lancer book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $4,000 after paying the physical damage deductible. If premiums are more than $400 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are some situations where eliminating full coverage is not advised. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not opt for liability only.
Eight Things That Affect Your Insurance Rates
Part of the auto insurance buying process is learning the rating factors that come into play when calculating your policy premiums. When you know what positively or negatively impacts premium levels, this enables informed choices that could help you find lower auto insurance prices. Many different elements are considered when you get a price on insurance. Some are pretty understandable such as traffic violations, although some other factors are not quite as obvious such as your credit history or your vehicle rating.
- Lower rates with a multi-policy discount – Most insurers give discounts to insureds who consolidate policies with them in the form of a multi-policy discount. Discounts can be ten or even up to twenty percent in some cases. Even if you already get this discount, you still need to comparison shop to ensure the best deal.
- Demanding vocation may mean higher rates – Careers like doctors, executives, and accountants usually pay the highest rates because of intense work-related stress and long work days. Conversely, professions such as professors, engineers and performers pay the least.
- Never let your coverage expire – Driving your car without having proper coverage is against the law and any future policy may cost more because you let your coverage have a gap. And not only will insurance be more expensive, the inability to provide proof of insurance can result in fines or a revoked license.
- If you don’t need it don’t buy it – Insurance policies have a lot of extra add-on coverages that you can buy but may not be useful. Things like coverage for rental cars, towing coverage, and extra life insurance coverage may be costing you every month. They may sound like good ideas when talking to your agent, but your money might be better spent on other coverage so get rid of them and save.
Which gender costs less? – Statistics have proven that females tend to be a little less risky than males. It does not mean females are better at driving than males. Men and women get in auto accidents in similar numbers, but guys tend to have higher claims. Not only that, but men also get more serious tickets such as reckless driving. Male drivers age 16 to 19 are most likely to cause an accident and thus pay the highest rates.
The example below illustrates the difference between Mitsubishi Lancer car insurance rates for male and female drivers. The premium estimates are based on no violations or accidents, comp and collision included, $500 deductibles, marital status is single, and no other discounts are factored in.
- Don’t skimp on liability – Your policy’s liability coverage kicks in when you are found liable for causing personal injury or damage in an accident. This coverage provides legal defense coverage which can be incredibly expensive. It is affordable coverage compared to other policy coverages, so buy as much as you can afford.
Insurance rates are higher for high performance vehicles – The make and model of the vehicle you own makes a big difference in your premium level. The lowest performance passenger cars normally have pretty low rates, but other factors influence the final cost greatly.
The next chart uses these assumptions: single female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It compares Mitsubishi Lancer rates compared to other vehicles that have different performance risks.
- Prices impacted by vehicle usage – Driving a lot of miles in a year’s time the higher your rate. A lot of companies rate vehicles based upon how the vehicle is primarily used. Cars that sit idle most of the time receive lower rates than those that get driven frequently. Make sure your vehicle rating is showing the correct usage. Having an incorrect usage rating on your Lancer can cost quite a bit.
Insurance loss data for Mitsubishi Lancer vehicles – Auto insurance companies use data from past claims to help set a rate to offset losses. Models that statistically have higher frequency or amount of claims will have higher premium rates. The table shown below demonstrates the compiled insurance loss statistics for Mitsubishi Lancer vehicles.
For each coverage category, the claim amount for all vehicles combined as an average is equal to 100. Percentages below 100 are indicative of better than average losses, while values that are above 100 show a trend for more claims or a tendency for claims to be larger.
Insurance Loss Ratings for Mitsubishi Lancer Vehicles Specific Mitsubishi 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 221BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Don’t give up on affordable rates
Some car insurance companies do not offer online rate quotes and most of the time these small insurance companies prefer to sell through local independent agents. Low-cost Mitsubishi Lancer insurance in Irvine can be sourced online and from local insurance agents, and you should compare rates from both in order to have the best chance of saving money.
When getting Irvine auto insurance quotes online, it’s very important that you do not skimp on critical coverages to save a buck or two. In many instances, drivers have reduced uninsured motorist or liability limits to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your aim should be to purchase plenty of coverage for the lowest price, but do not skimp to save money.
In this article, we presented some good ideas how you can find lower-cost Mitsubishi Lancer insurance in Irvine. The key thing to remember is the more you quote Irvine auto insurance, the better likelihood of getting cheaper Irvine auto insurance quotes. Drivers may even discover the best auto insurance rates are with the least-expected company.
More information is available at the links below
- Rental Reimbursement Coverage (Allstate)
- Who Has Cheap Irvine Auto Insurance for Ride Shares? (FAQ)
- Who Has Cheap Auto Insurance for Good Drivers in Irvine? (FAQ)
- Get the Right Protection (InsureUonline.org)
- Uninsured Motorist Statistics (Insurance Information Institute)