Cheap 2014 Mitsubishi Lancer Insurance Rates
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UPDATED: Dec 8, 2021
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Looking for cheaper car insurance rates for your Mitsubishi Lancer? I can’t think of anyone who enjoys paying for car insurance, especially when they are paying too much. Because there are so many options when it comes to car insurance, it’s nearly impossible to choose the most cost effective provider.
You should take the time to shop coverage around once or twice a year because rates trend upward over time. Even if you got the best rates on Lancer insurance last year other companies may now be cheaper. Starting now, forget all the misinformation about car insurance because it’s time to teach you one of the best ways to reduce your cost while increasing coverage.
Mitsubishi Lancer insurance rates have many determining factors
An important part of buying insurance is that you know the factors that come into play when calculating your auto insurance rates. Knowing what impacts premium levels enables informed choices that can help you get big savings.
The list below includes a few of the “ingredients” auto insurance companies consider when setting your rates.
- Tickets mean higher rates – Your driving record impacts your car insurance rates tremendously. Careful drivers have lower premiums than bad drivers. Even one citation can boost insurance rates forty percent or more. Drivers who get serious violations such as reckless driving, hit and run or driving under the influence may be required to submit a SR-22 form to the state department of motor vehicles in order to continue driving.
- Your auto insurance rates can be influenced by your job – Jobs such as lawyers, executives and stock brokers tend to have the highest rates because of high stress levels and lots of time spent at work. On the other hand, professions such as farmers, students and retirees receive lower rates on Lancer insurance.
- Bump up deductibles to save – Your deductibles define the amount you are willing to pay before your auto insurance pays a claim. Insurance for physical damage to your car, also known as collision and other-than-collision, protects your car from damage. A few examples of covered claims could be running into the backend of another car, collision with an animal, and burglary. The more expense you have to pay, the lower your rates will be on Lancer insurance.
- Don’t let your coverage lapse – Allowing your coverage to lapse is a guaranteed way to pay more for auto insurance. Not only will you pay more, but not being able to provide proof of insurance will get you a license revocation or jail time.You may have to file a SR-22 with your state motor vehicle department.
More discounts equal less premium
Properly insuring your vehicles can get expensive, buy you may qualify for discounts to cut the cost considerably. A few discounts will automatically apply at quote time, but a few must be requested specifically in order for you to get them. If they aren’t giving you every credit you deserve, you are throwing money away.
- Pay Now and Pay Less – By paying your policy upfront instead of making monthly payments you may reduce your total bill.
- Defensive Driver – Completing a course teaching defensive driving skills could save 5% or more and easily recoup the cost of the course.
- Early Switch Discount – Some companies give discounts for buying a policy before your current policy expires. It’s a savings of about 10%.
- Club Memberships – Being a member of certain professional organizations could trigger savings on your policy on Lancer insurance.
- Theft Prevention System – Cars that have factory anti-theft systems are stolen less frequently and will save you 10% or more.
- Paperwork-free – A handful of insurance companies will discount your bill up to fifty bucks just for signing your application digitally online.
Consumers should know that some of the credits will not apply the whole policy. Most only cut individual premiums such as comprehensive or collision. So even though it sounds like all the discounts add up to a free policy, car insurance companies aren’t that generous. But any discount will cut your overall premium however.
A partial list of companies that possibly offer these benefits may include but are not limited to:
- State Farm
- Farmers Insurance
Before buying, ask every prospective company how you can save money. Savings may not apply in your state.
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It’s not one size fits all
When choosing coverage for your personal vehicles, there isn’t really a one size fits all plan. Every situation is different and your policy should reflect that. For example, these questions may help you determine if your situation might need an agent’s assistance.
- Is motorclub coverage worth it?
- What can I do if my company denied a claim?
- Is my 2014 Mitsubishi Lancer covered for flood damage?
- Do I need special endorsements for business use of my vehicle?
- Am I covered if I hit a deer?
- What is an SR-22 filing?
- Do I need replacement cost coverage on my 2014 Mitsubishi Lancer?
If it’s difficult to answer those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and can help protect your family.
Auto insurance coverage information
Understanding the coverages of your insurance policy can be of help when determining which coverages you need for your vehicles. Insurance terms can be difficult to understand and coverage can change by endorsement. Below you’ll find the normal coverages found on most insurance policies.
Collision coverage – Collision coverage will pay to fix damage to your Lancer resulting from a collision with another vehicle or an object, but not an animal. A deductible applies and then insurance will cover the remainder.
Collision insurance covers things like colliding with another moving vehicle, damaging your car on a curb, driving through your garage door and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. You can also increase the deductible to save money on collision insurance.
UM/UIM Coverage – This gives you protection when the “other guys” are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your 2014 Mitsubishi Lancer.
Because many people only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. This is the reason having UM/UIM coverage should not be overlooked. Frequently these coverages are similar to your liability insurance amounts.
Medical costs insurance – Med pay and PIP coverage provide coverage for bills for surgery, ambulance fees, chiropractic care, funeral costs and pain medications. The coverages can be used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP is only offered in select states but can be used in place of medical payments coverage
Comprehensive or Other Than Collision – Comprehensive insurance coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things such as damage from flooding, rock chips in glass, a tree branch falling on your vehicle and falling objects. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Auto liability insurance – This coverage will cover injuries or damage you cause to other’s property or people by causing an accident. It protects YOU against claims from other people. Liability doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 100/300/100 that translate to a limit of $100,000 per injured person, a total of $300,000 of bodily injury coverage per accident, and $100,000 of coverage for damaged property. Some companies may use one number which is a combined single limit which combines the three limits into one amount with no separate limits for injury or property damage.
Liability coverage protects against claims such as repair bills for other people’s vehicles, medical expenses and medical services. How much liability coverage do you need? That is your choice, but you should buy as large an amount as possible.
In the end, you save
You just read a lot of ways to get a better price on 2014 Mitsubishi Lancer insurance. The key thing to remember is the more companies you get rates for, the better your chances of lowering your rates. You may even discover the most savings is with some of the lesser-known companies. They may often insure only within specific states and give getter rates than the large multi-state companies such as Allstate, GEICO and Progressive.
While you’re price shopping online, it’s not a good idea to reduce coverage to reduce premium. There have been many situations where an accident victim reduced liability coverage limits only to find out that a couple dollars of savings turned into a financial nightmare. Your aim should be to get the best coverage possible for the lowest price while not skimping on critical coverages.
Additional detailed information is located in these articles:
- Help Your Teen Be a Better Driver (State Farm)
- Safety Features for Your New Car (State Farm)
- State Laws for Cellphones and Texting (iihs.org)
- Auto Insurance Facts and Statistics (Insurance Information Insitute)
- Your Car has been Stolen: Now What? (Allstate)
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