Cheapest 2016 Mitsubishi Lancer Insurance Rates in 2023
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UPDATED: Jun 6, 2023
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There isn’t anyone who likes having to buy auto insurance, especially when they are aware that the cost is too high.
There is such a variety of auto insurance companies to purchase coverage from, and although it’s a good thing to be able to choose, so many choices can make it hard to compare rates.
You need to shop coverage around occasionally due to the fact that insurance prices are rarely the same from one policy term to another. Even if you got the best rate on Lancer insurance a year ago you can probably find a lower rate today. Forget all the misinformation about auto insurance because you’re about to find out the quickest way to eliminate unnecessary coverages and save money.
Finding the best rates is quite easy. Essentially anyone who buys insurance will more than likely be able to reduce their rates. But consumers benefit from understanding how companies determine prices and use this information to your advantage.
Discount insurance coverage quotes
Some providers don’t always publicize the entire discount list in an easy-to-find place, so we took the time to find some of the more common and the more hidden discounts that you can inquire about if you buy insurance coverage online.
- Discounts for Good Drivers – Safe drivers can save as much as half off their rates on Lancer insurance compared to rates paid by drivers with frequent claims.
- Life Insurance Discount – Select insurance companies reward you with a small discount if you purchase auto and life insurance together.
- Seat Belts Save more than Lives – Requiring all passengers to fasten their seat belts could save 15% off PIP or medical payments premium.
- Waiver for an Accident – Not really a discount, but some companies like Liberty Mutual, Allstate and State Farm permit an accident before they charge you more for coverage as long as you don’t have any claims for a certain period of time.
- Save with a New Car – Adding a new car to your policy can save you some money because new model year vehicles are generally safer.
We need to note that many deductions do not apply to all coverage premiums. Some only reduce specific coverage prices like liability, collision or medical payments. So when it seems like all those discounts means the company will pay you, you aren’t that lucky.
A few companies that may have many of the previously listed discounts may include but are not limited to:
If you need cheaper insurance coverage quotes, ask every insurance company how you can save money. Some discounts listed above may not apply everywhere. To locate insurers offering insurance coverage discounts, click here to view.
Tailor your car insurance coverage to you
When it comes to choosing adequate coverage for your vehicles, there isn’t really a cookie cutter policy. Every insured’s situation is different so your insurance needs to address that. These are some specific questions can help discover if you could use an agent’s help.
- Can I get a multi-policy discount for packaging my home and auto coverage?
- Can I pay claims out-of-pocket if I buy high deductibles?
- Why am I required to buy high-risk coverage?
- Should I have a commercial auto policy?
- Can I still get insurance after a DUI?
- Should I waive the damage coverage when renting a car?
- What is the ISO rating for a 2016 Mitsubishi Lancer?
- Is my 2016 Mitsubishi Lancer covered for flood damage?
- Is my nanny covered when driving my vehicle?
- Why does it cost so much to insure a teen driver?
If it’s difficult to answer those questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies.
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Does car insurance advertising bend the truth?
Car insurance providers like Allstate, GEICO and Progressive constantly bombard you with television, radio, and online ads. They all seem to advertise the message about saving some big amount if you switch your coverage. That’s great but how can every company make the same claim? It’s all in the numbers.
Many companies give the cheapest rates for the type of insured that makes them money. For example, this type of risk profile might have to be a female over age 40, has no claims, and drives less than 7,500 miles a year. A propective insured that fits those parameters receives the best auto insurance rates as well as save some money.
Potential insureds who are not a match for these standards must pay a higher premium which usually ends up with the prospect going elsewhere. If you pay close attention to the ads, they say “customers who switch” not “everybody who quotes” will save that much if they switch. That’s the way companies can make it sound like they have such great rates. That is why it’s extremely important to get insurance coverage quotes as often as possible. It is impossible to predict with any certainty which company will have the best prices at this point in time.
Specifics of your insurance policy
Learning about specific coverages of your policy aids in choosing the best coverages for your vehicles. Insurance terms can be confusing and coverage can change by endorsement. Below you’ll find typical coverage types available from insurance companies.
Collision coverage protection
Collision insurance will pay to fix damage to your Lancer resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.
Collision can pay for claims such as backing into a parked car, sustaining damage from a pot hole, rolling your car, colliding with a tree and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from older vehicles. You can also choose a higher deductible to get cheaper collision coverage.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance reimburse you for bills for X-ray expenses, doctor visits and ambulance fees. They are used to fill the gap from your health insurance program or if there is no health insurance coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover getting struck while a pedestrian. PIP is not an option in every state but it provides additional coverages not offered by medical payments coverage
Liability coverage will cover damage that occurs to other people or property. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have liability limits of 50/100/50 which stand for $50,000 bodily injury coverage, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000.
Liability coverage protects against claims such as attorney fees, bail bonds and medical services. How much liability should you purchase? That is up to you, but consider buying as high a limit as you can afford.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle when the “other guys” do not carry enough liability coverage. Covered claims include hospital bills for your injuries and damage to your 2016 Mitsubishi Lancer.
Since a lot of drivers only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked.
Comprehensive auto coverage
Comprehensive insurance coverage covers damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims like vandalism, damage from flooding, damage from getting keyed and a broken windshield. The maximum amount you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.
Take this to the bank
More affordable auto insurance is attainable both online and from local insurance agents, and you should be comparing both to have the best selection. A few companies do not offer online rate quotes and usually these regional carriers prefer to sell through independent insurance agencies.
As you quote insurance coverage, it’s very important that you do not buy less coverage just to save a little money. In many instances, an accident victim reduced physical damage coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your strategy should be to purchase a proper amount of coverage at the best possible price while not skimping on critical coverages.
You just read some good ideas how to get a better price on 2016 Mitsubishi Lancer insurance. The most important thing to understand is the more providers you compare, the better your chances of lowering your car insurance rates. You may even discover the lowest rates come from a small mutual company. Regional companies may have significantly lower car insurance rates on certain market segments as compared to the big name companies such as GEICO and State Farm.
Additional detailed information can be found in the articles below:
- Neck Injury FAQ (iihs.org)
- Vehicle Size and Weight FAQ (iihs.org)
- Side Impact Crash Tests (iihs.org)
- Coverage Information (Progressive Insurance)
Frequently Asked Questions
How can I find cheap auto insurance rates for my 2016 Mitsubishi Lancer?
Finding cheap auto insurance rates for your 2016 Mitsubishi Lancer requires shopping around and comparing quotes from different insurance companies. Use online quote tools that allow you to enter your ZIP code to view companies with affordable rates. By comparing quotes from multiple insurers, you increase your chances of finding the best price.
What discounts are available for cheap insurance coverage?
Insurance providers offer various discounts that can help you obtain cheaper coverage. While the availability of discounts may vary, some common ones to inquire about include:
- Multi-policy discount: If you have multiple insurance policies with the same company, such as auto and home insurance, you may qualify for a discount.
- Safe driver discount: If you have a clean driving record without any recent accidents or traffic violations, you may be eligible for this discount.
- Good student discount: Full-time students who maintain good grades can often qualify for discounted rates.
- Anti-theft device discount: If your 2016 Mitsubishi Lancer has anti-theft devices installed, such as an alarm system or tracking device, you may receive a discount.
- Low-mileage discount: If you don’t drive your Lancer frequently, you may be eligible for a discount.
- Affinity group discount: Some insurance companies offer discounts to members of certain organizations or professional groups.
Remember to check with each insurance company to determine the discounts they offer and the eligibility criteria for each.
How can I tailor my car insurance coverage to my needs?
When selecting car insurance coverage for your 2016 Mitsubishi Lancer, it’s important to assess your specific needs. Consider the following coverage types:
- Liability coverage: This coverage is typically required by law and protects you if you cause injury or property damage to others in an accident.
- Collision coverage: This coverage pays for repairs or replacement of your Lancer if it’s damaged in a collision with another vehicle or object.
- Comprehensive coverage: This coverage protects against damage to your Lancer from non-collision events, such as theft, vandalism, or natural disasters.
- Medical payments coverage: This coverage helps pay for medical expenses if you or your passengers are injured in an accident.
- Uninsured/underinsured motorist coverage: This coverage protects you if you’re involved in an accident with a driver who has insufficient insurance coverage.
The specific coverage options you choose should align with your individual needs, budget, and level of risk tolerance.
Do car insurance advertisements always reflect the truth?
Car insurance advertisements from companies like Allstate, GEICO, and Progressive may make claims about saving money if you switch coverage. However, it’s important to remember that each company has its own criteria for determining rates. The advertised savings may only apply to specific profiles that meet certain requirements, such as age, driving history, or mileage. It’s essential to obtain insurance coverage quotes regularly and compare them to ensure you’re getting the best rates available to you.
What are the different types of coverage included in an insurance policy?
An insurance policy for your 2016 Mitsubishi Lancer may include several types of coverage:
- Collision coverage: This pays for damage to your Lancer resulting from a collision with another vehicle or object.
- Medical payments and Personal Injury Protection (PIP) coverage: These coverages reimburse you for medical expenses related to injuries sustained in an accident, regardless of fault.
- Liability coverage: This protects against damage to other people or property caused by you in an accident.
- Uninsured/underinsured motorist coverage: This coverage helps protect you if you’re involved in an accident with a driver who doesn’t
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