By shopping around, you could save a great deal of money on liability-only auto insurance. It is important to note that each provider may place a different emphasis on the risk factors in determining your quote. Liability-only insurance may not be the right choice for you if your car is older and worth less.
Liability Insurance at Low Cost
WalletHub has analyzed quotes from 17 major auto insurers to find the cheapest companies for liability-only car insurance. Each company has a price based on the baseline driver profile. This includes an individual's age gender and location.
Geico Progressive State Farm and other companies offer the cheapest liability policies. These companies not only offer cheap insurance rates but also discounts like the student discount and multicar discounts.
It's crucial to compare car insurance providers based on your credit score. Fixing any mistakes on your record may lower your rate.
A ticket or accident in the near-future is another thing to think about. Your insurance rates will rise if you have an accident where you are at fault. So, it is better to purchase your policy while your driving history is still clean.
This will save you money in the event of an incident. These limits will often be expressed as a series of three numbers. For example, 25/50/25. It means that your maximum liability limit for bodily harm per person can be 25, and you have a maximum coverage of 50.
Liability-only auto insurance costs typically half as much as the average national rate. It's because liability insurance is cheaper than covering your own expenses like medical bills or repairs to your vehicle.
It's also less expensive to buy liability-only car insurance for a teenage driver than it is to purchase a full policy for them. It's because insurers offer cheaper policies to teens due to their lower accident risk.
In most cases, young drivers who purchase a policy via a parent/grandparent can save on liability-only auto insurance. It's also less expensive to add a teenager to an existing policy than to purchase a new policy.
Lastly, if you live in an area with a high crime rate, you should consider getting a low-cost liability insurance policy to protect yourself against theft and vandalism. There are many causes for vehicle damage. A liability-only policy will only cover those risks.
It is often cheaper to buy liability-only insurance than a complete policy. However, it can be hard to find the policy that's right for you. The best way for you to find the right policy is by getting multiple quotes.