Cheapest 2003 Mitsubishi Lancer Insurance Rates in 2023
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UPDATED: Jun 2, 2023
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Trying to find cheaper insurance rates for your Mitsubishi Lancer? Shopping for car insurance is not a chore car owners relish, but regardless it’s required in order to drive legally.
It’s important to take a look at other company’s rates periodically due to the fact that insurance rates are adjusted regularly by insurance companies. Even if you got the best rates on Lancer coverage on your last policy other companies may now be cheaper. Starting now, forget anything you know (or think you know) about insurance because we’re going to show you the only way to reduce your cost while increasing coverage.
Take discounts and save
Car insurance is not cheap, but there are discounts available to help offset the cost. Certain discounts will be triggered automatically at the time of quoting, but less common discounts must be requested specifically before being credited.
- Pay Now and Pay Less – By paying your policy upfront instead of making monthly payments you may reduce your total bill.
- Braking Control Discount – Cars that have steering control and anti-lock brakes can reduce accidents and qualify for as much as a 10% discount.
- Multi-policy Discount – When you have multiple policies with one company you may earn at least 10% off all policies.
- Life Insurance Discount – Some companies give better rates if you take out life insurance from them.
- Discounts for Safe Drivers – Drivers who don’t get into accidents may save up to 50% more on Lancer coverage than drivers with accident claims.
- Early Signing – Some companies give discounts for buying a policy prior to your current policy expiration. This can save 10% or more.
- No Charge for an Accident – A few companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a set time period.
- Seat Belt Usage – Requiring all passengers to use a seat belt can save 10% or more off your PIP or medical payments premium.
- Lower Rates for Military – Being deployed with a military unit may qualify for rate reductions.
- Drivers Ed for Students – Cut your cost by having your teen driver complete a driver education course in school.
Drivers should understand that some credits don’t apply to your bottom line cost. Most cut the cost of specific coverages such as comp or med pay. Just because you may think all those discounts means the company will pay you, you won’t be that lucky. But any discount will reduce the amount you have to pay.
Car insurance companies who might offer some of the above discounts include:
Before buying, ask each insurance company what discounts are available to you. Discounts may not apply in your area.
Finding Auto Insurance Deals
Most companies like 21st Century, Allstate and State Farm provide price estimates directly from their websites. Getting quotes doesn’t take much effort as you just enter your coverage information as detailed in the form. When complete, their rating system automatically orders information on your driving record and credit history and returns pricing information based on these factors.
Online price quotes makes it a lot easier to compare rates but the time it takes to visit a lot of sites and fill out multiple forms is repetitive and time-consuming. Unfortunately, it is important to do this if you are searching for the best price on auto insurance.
There is an easier way!
The easiest way to lower your auto insurance bill makes use of a single form that analyzes rates from a bunch of companies at once. It’s a real time-saver, eliminates repetitive work, and makes online quotes much easier to do. As soon as the form is sent, it is quoted and you can choose any of the returned quotes.
If you find a better price you can click and sign and buy the policy. The whole process just takes a couple of minutes and you’ll know if lower rates are available.
To save time and compare pricing, click here and submit your coverage information. If you have coverage now, it’s recommended you copy the coverage information exactly as shown on your declarations page. Using the same limits helps guarantee you will receive rate comparison quotes based on the exact same insurance coverage.
Which policy gives me the best coverage?
When it comes to buying the best auto insurance coverage for your vehicles, there is no single plan that fits everyone. Everyone’s situation is unique.
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These are some specific questions might point out if you may require specific advice.
- How can I get my company to pay me more for my totalled car?
- What is roadside assistance coverage?
- Can my babysitter drive my car?
- Which is better, split liability limits or combined limits?
- Who is covered when they drive my 2003 Mitsubishi Lancer?
- I have good health insurance, so how much medical payments coverage do I need?
- What if I owe more than I can insure my car for?
- Are rental cars covered under my policy?
- Do I have coverage when making deliveries for my home business?
If you can’t answer these questions but you know they apply to you, then you may want to think about talking to a licensed agent. If you don’t have a local agent, complete this form.
Coverages available on your policy
Knowing the specifics of your auto insurance policy aids in choosing which coverages you need for your vehicles. The coverage terms in a policy can be difficult to understand and nobody wants to actually read their policy.
Liability insurance protects you from damage or injury you incur to other people or property by causing an accident. This insurance protects YOU from claims by other people. 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 might see limits of 100/300/100 which stand for a limit of $100,000 per injured person, $300,000 for the entire accident, and property damage coverage for $100,000. Another option is one limit called combined single limit (CSL) that pays claims from the same limit rather than limiting it on a per person basis.
Liability coverage protects against claims like loss of income, repair costs for stationary objects and medical services. How much coverage you buy is a personal decision, but buy as large an amount as possible.
Uninsured and underinsured coverage
Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” are uninsured or don’t have enough coverage. It can pay for injuries to you and your family and damage to your Mitsubishi Lancer.
Due to the fact that many drivers only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family. Most of the time the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive insurance coverage covers damage that is not covered by collision coverage. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as a tree branch falling on your vehicle, fire damage, damage from flooding and vandalism. The highest amount your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Collision coverage protection
This pays for damage to your Lancer resulting from a collision with another car or object. You first must pay a deductible and the rest of the damage will be paid by collision coverage.
Collision can pay for things like rolling your car, scraping a guard rail, damaging your car on a curb and colliding with another moving vehicle. Collision is rather expensive coverage, so you might think about dropping it from older vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.
Coverage for medical payments
Medical payments and Personal Injury Protection insurance provide coverage for immediate expenses for nursing services, funeral costs, hospital visits and surgery. They are often utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to both the driver and occupants and also covers any family member struck as a pedestrian. PIP is not universally available and gives slightly broader coverage than med pay
Pennies from heaven
In this article, we presented many tips how you can get a better price on 2003 Mitsubishi Lancer insurance. It’s most important to understand that the more quotes you get, the higher the chance of saving money. You may even discover the lowest rates come from some of the smallest insurance companies.
As you shop your coverage around, never skimp on critical coverages to save a buck or two. Too many times, an insured cut uninsured motorist or liability limits and discovered at claim time they didn’t purchase enough coverage. The aim is to buy enough coverage for the lowest price.
Consumers switch companies for any number of reasons including policy cancellation, denial of a claim, not issuing a premium refund and even high prices. Whatever your reason, finding the right auto insurance provider is easier than you think.
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- What Determines the Price of My Auto Insurance Policy? (Insurance Information Insitute)
- Red Light Cameras (State Farm)
- Older Drivers FAQ (iihs.org)
- State Car Insurance Guides (GEICO)
Use our FREE quote tool to compare rates now!
Frequently Asked Questions
How can I find cheaper insurance rates for my 2003 Mitsubishi Lancer in 2023?
Shopping for car insurance can help you find cheaper rates for your 2003 Mitsubishi Lancer. Insurance rates are adjusted regularly by insurance companies, so it’s important to compare quotes from different companies to find the best deal. You can use online tools and websites that provide price estimates directly from insurance companies. Another option is to use a single form that analyzes rates from multiple companies at once, saving you time and effort. Remember to provide accurate coverage information to ensure accurate rate comparison.
What discounts are available for auto insurance?
Car insurance companies offer various discounts that can help offset the cost of your insurance. Some discounts are automatically applied at the time of quoting, while others need to be specifically requested. Common discounts include safe driver discounts, multi-policy discounts, good student discounts, and anti-theft device discounts. However, not all discounts may apply in your area, so it’s essential to ask each insurance company about the discounts they offer.
Which policy provides the best coverage for my Mitsubishi Lancer?
The best auto insurance coverage for your Mitsubishi Lancer depends on your specific needs and circumstances. There is no one-size-fits-all policy. When selecting coverage, consider factors such as liability insurance to protect against damage or injury caused to others, uninsured and underinsured coverage to protect you when the other driver doesn’t have sufficient coverage, comprehensive coverage for damage not caused by collision, collision coverage for damage resulting from a collision, and medical payments coverage for immediate medical expenses. It’s recommended to consult with a licensed agent to get personalized advice based on your situation.
What is liability insurance?
Liability insurance protects you from damage or injury you cause to other people or property in an accident. It covers claims made by other individuals against you. However, liability insurance does not cover damage to your own vehicle or injuries you sustain. It typically has split limits, which include bodily injury limits per person and per accident, as well as a property damage limit. Another option is a combined single limit (CSL), which provides coverage from the same limit for all claims.
What is uninsured and underinsured coverage?
Uninsured and underinsured coverage protects you and your vehicle occupants when the at-fault driver in an accident is uninsured or doesn’t have enough coverage to fully compensate you for damages. If the other driver’s liability coverage is insufficient, your own uninsured/underinsured motorist coverage can help pay for injuries and damages. It is recommended to carry high limits of uninsured/underinsured coverage, as many drivers only carry the minimum required liability limits.
What is comprehensive coverage?
Comprehensive insurance coverage covers damage to your vehicle that is not caused by a collision. It typically includes incidents such as theft, vandalism, fire, falling objects, and damage from natural disasters. A deductible applies, and the insurance company pays for the remaining damage up to the vehicle’s cash value. If your deductible is equal to or higher than the vehicle’s value, you may consider dropping full coverage.
What is collision coverage?
Collision coverage pays for damage to your Mitsubishi Lancer resulting from a collision with another vehicle or object. You are required to pay a deductible, and the insurance company covers the rest of the damage. Collision coverage applies to incidents like colliding with another car, hitting a guardrail, or rolling your vehicle. Consider the age and value of your vehicle when deciding whether to keep collision coverage, as it can be expensive for older vehicles.
What are medical payments and personal injury protection (PIP) coverage?
Medical payments and personal injury protection (PIP) coverage provide coverage for immediate medical expenses resulting from an accident. They can cover costs such as nursing services, hospital visits, funeral expenses, and surgery. These coverages are often used in addition to your health insurance or as a substitute if you don’t have health insurance. PIP coverage is broader than medical payments coverage and may apply to both the driver, occupants, and even family members struck as pedestrians.
Remember, it’s important to review your own policy and consult with a licensed insurance agent for personalized advice and to ensure you have the appropriate coverage for your specific needs.
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