1993 Mitsubishi Precis Insurance Rates
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UPDATED: Oct 7, 2017
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Nobody likes paying for insurance, particularly when the price is too high. Companies like GEICO, Farmers Insurance and State Farm continually hit you with ad campaigns and consumers find it hard to sift through the bull and find the best price available.
Factors determining your Mitsubishi Precis insurance premium
Smart consumers have a good feel for the rating factors that help determine the rates you pay for insurance. Understanding what determines base rates enables informed choices that will entitle you to much lower annual insurance costs.
- Increase deductibles and save – Physical damage insurance, termed comprehensive and collision coverage on your policy, protects your Mitsubishi from damage. A few examples of covered claims could be colliding with a building, collision with an animal, or theft. Physical damage deductibles are the amount of money you are required to spend before a claim is paid by your company. The higher the amount you have to pay, the less your company will charge you for insurance on Precis insurance.
- Discounts for multiple policies – Many companies provide better rates to policyholders who consolidate policies with them. It’s known as a multi-policy discount. Discounts can amount to anywhere from five to ten percent in most cases. If you currently are using one company, you still need to compare rates to confirm you are receiving the best rates possible. You may still find a better deal by buying insurance from a different company.
- Better credit means lower rates – Having a bad credit score is a important factor in determining what you pay for insurance. Consumers who have high credit scores tend to be less risk to insure than drivers who have lower credit ratings. If your credit score is low, you could be paying less to insure your 1993 Mitsubishi Precis by spending a little time repairing your credit.
- Rates may be lower depending on your job – Careers like real estate brokers, executives and accountants tend to have higher rates than average in part from job stress and lengthy work days. On the flip side, professions such as scientists, athletes and the unemployed receive lower rates on Precis insurance.
- Males pay more for insurance – Statistics show women tend to be less risk to insure than men. However, this does not mean men are worse drivers. Women and men cause accidents at about the same rate, but the males have costlier accidents. They also receive more costly citations such as reckless driving. Teenage male drivers are most likely to cause an accident and therefore have the most expensive insurance rates.
Discounts can save BIG
Car insurance companies do not list every available discount in an easy-to-find place, so here is a list some of the best known and the more hidden insurance savings. If they aren’t giving you every credit available, you’re paying more than you need to.
- Good Students Pay Less – Getting good grades can earn a discount of 20% or more. This discount can apply up to age 25.
- Multi-policy Discount – When you have multiple policies with the same insurance company you may earn up to 20% off your total premium.
- Service Members Pay Less – Being deployed with a military unit can result in better rates.
- Senior Discount – Mature drivers can possibly qualify for a discount up to 10% on Precis insurance.
- Seat Belts Save – Using a seat belt and requiring all passengers to use a seat belt could cut 10% or more off your PIP or medical payments premium.
- New Vehicle Savings – Adding a new car to your policy can be considerably cheaper due to better safety requirements for new cars.
- Paperless Signup – A few companies will discount your bill up to fifty bucks for buying a policy and signing up online.
- Employee of Federal Government – Active or retired federal employment could cut as much as 10% off on Precis insurance with certain companies.
- Student Driver Training – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class if it’s offered in school.
- No Claims – Claim-free drivers can earn big discounts as compared to bad drivers.
It’s important to note that most discounts do not apply to all coverage premiums. Most only apply to individual premiums such as physical damage coverage or medical payments. Just because you may think having all the discounts means you get insurance for free, it doesn’t quite work that way.
Companies who might offer these money-saving discounts are:
Check with each company how you can save money. Discounts may not be available everywhere.
Will just any policy work for me?
When buying adequate coverage, there really is no cookie cutter policy. Every insured’s situation is different so your insurance needs to address that. For instance, these questions could help you determine if you might need an agent’s assistance.
- Does my policy pay for OEM or aftermarket parts?
- How much can I save by bundling my policies?
- Is my business laptop covered if it gets stolen from my vehicle?
- Is other people’s property covered if stolen from my vehicle?
- What is high-risk coverage and where do I buy it?
- Is my cargo covered for damage or theft?
- Should I have a commercial auto policy?
- What is an SR-22 filing?
- Should I buy more coverage than the required minimum liability coverage?
- Do I have any recourse if my insurance company denies a claim?
If you don’t know the answers to these questions but you think they might apply to your situation, you may need to chat with an insurance agent. If you want to speak to an agent in your area, take a second and complete this form or go to this page to view a list of companies. It’s fast, free and may give you better protection.
Car insurance 101
Having a good grasp of insurance can be of help when determining the best coverages and the correct deductibles and limits. Insurance terms can be impossible to understand and reading a policy is terribly boring. Below you’ll find typical coverage types available from insurance companies.
Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered claims include medical payments for you and your occupants and also any damage incurred to your 1993 Mitsubishi Precis.
Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage is important protection for you and your family.
Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for things like rehabilitation expenses, surgery and pain medications. They are often used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. PIP coverage is not universally available and gives slightly broader coverage than med pay
Comprehensive insurance – This coverage covers damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive insurance covers claims such as falling objects, vandalism, damage from flooding, hitting a bird and a broken windshield. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much it’s not worth carrying full coverage.
Collision – Collision insurance pays for damage to your Precis resulting from a collision with another car or object. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision insurance covers things like scraping a guard rail, rolling your car, colliding with a tree, hitting a parking meter and sustaining damage from a pot hole. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are 8 years or older. You can also raise the deductible in order to get cheaper collision rates.
Liability insurance – This coverage protects you from damages or injuries you inflict on other’s property or people by causing an accident. It protects YOU from legal claims by others. Liability doesn’t cover your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 50/100/50 that means you have a limit of $50,000 per injured person, $100,000 for the entire accident, and $50,000 of coverage for damaged property.
Liability insurance covers things such as legal defense fees, pain and suffering, structural damage, attorney fees and court costs. How much liability coverage do you need? That is a personal decision, but consider buying as large an amount as possible.
Have money to burn
When trying to cut insurance costs, it’s a bad idea to sacrifice coverage to reduce premiums. In many instances, an insured cut liability coverage limits only to regret that the savings was not a smart move. The aim is to buy enough coverage at an affordable rate while not skimping on critical coverages.
Budget-conscious 1993 Mitsubishi Precis insurance can be bought online and also from your neighborhood agents, and you should be comparing both in order to have the best chance of saving money. Some insurance providers may not provide the ability to get a quote online and many times these small insurance companies only sell through independent insurance agents.
More tips and info about insurance is located by following these links:
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