No one loves paying for insurance, in particular when their premiums are through the roof.
It's a fact that insurance companies don't want policyholders to compare prices from other companies. People who shop around for a cheaper policy are highly likely to switch to a new company because they have good chances of finding discount prices. A recent study showed that people who compared price quotes annually saved $3,400 over four years compared to people who never compared rates.
If finding budget-friendly car insurance in Philadelphia is your objective, then having some insight into the best ways to find and compare auto insurance can make it easier to shop your coverage around.
Many car insurance companies compete for your business, and it can be difficult to compare rates to find the absolute lowest rate on Chevy Bolt EV insurance in Philadelphia.
The quickest way to compare car insurance company rates for Chevy Bolt EV insurance in Philadelphia utilizes the fact car insurance companies participate in online systems to quote your coverage. All consumers are required to do is provide information including types of safety features, if you require a SR-22, whether you are single or married, and if you have an active license. Those rating factors gets sent immediately to insurance companies and they provide comparison quotes within a short period of time.
To start a quote now, click here then complete the form.
The companies shown below can provide quotes in Pennsylvania. If several companies are displayed, we recommend you visit as many as you can to find the most competitive car insurance rates.
Best reasons to buy insurance in Pennsylvania
Even though it can be expensive, insuring your vehicle is required in Pennsylvania but also provides important benefits.
- Just about all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific minimum amount of liability insurance coverage if you want to drive legally. In Pennsylvania these limits are 15/30/5 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $5,000 of property damage coverage.
- If your Bolt EV has a loan, most banks will force you to buy full coverage to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender may have to buy a policy to insure your Chevy at a much higher premium rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance protects not only your car but also your financial assets. It will also reimburse you for medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage also pays for attorney fees and expenses in the event you are sued. If damage is caused by hail or an accident, your policy will cover the repair costs.
The benefits of buying insurance are definitely more than the cost, specifically if you ever have a liability claim. But the average driver in Pennsylvania overpays more than $850 per year so you should quote and compare rates at every policy renewal to ensure rates are competitive.
Cheaper rates by getting these six discounts
Car insurance is not cheap nor is it fun to buy but there could be available discounts to reduce the price significantly. Most are applied at quote time, but some must be requested specifically before you get the savings.
- Active Service Discounts - Having a family member in the military may lower your car insurance rates slightly.
- Defensive Driver Discount - Completing a safe driver class can save you 5% or more if your company offers it.
- Discount for Good Grades - Performing well in school may save you up to 25%. Most companies allow this discount up to age 25.
- Resident Student - Children who are enrolled in a college that is more than 100 miles from Philadelphia and leave their car at home may be able to be covered for less.
- Multiple Vehicles - Drivers who insure primary and secondary vehicles on a single policy can get a discount for every vehicle.
- Air Bag Discount - Factory air bags may get savings of 20% or more.
Remember that most credits do not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as comprehensive or collision. Just because you may think adding up those discounts means a free policy, companies don't profit that way.
A partial list of companies that have many of the previously listed discounts are:
Double check with each insurance company which discounts you qualify for. Some discounts listed above may not be available in Philadelphia.
When should I have guidance from an insurance agency?
Some consumers prefer to sit down with an agent and that can be a smart move An additional benefit of getting online price quotes is you can get cheap auto insurance quotes and still have a local agent. Buying from neighborhood insurance agencies is definitely important in Philadelphia.
Upon completion of this simple form, your insurance data is emailed to local insurance agents who will give competitive quotes for your auto insurance coverage. You won't even need to search for any insurance agencies since price quotes are sent immediately to you. You can find lower rates and an insurance agent to talk to. If you wish to get a price quote from a specific auto insurance provider, you can always go to their quote page and submit a quote form there.
When narrowing the list to find a good Philadelphia insurance agent, it's helpful to know the different types of agencies and how they can quote your rates. Auto insurance agencies can either be exclusive or independent (non-exclusive).
Independent Auto Insurance Agencies
Agents of this type do not sell for just one brand so they can insure your vehicles with lots of companies and possibly get better coverage at lower prices. To transfer your coverage to a different company, your agent can just switch to a different company and you don't have to find a new agent.
When searching for an agent, we recommend you include price quotes from several independent agencies to ensure the widest selection of prices.
Shown below is a partial list of independent insurance agents in Philadelphia that can give you comparison quotes.
Exclusive Insurance Agencies
Agents that choose to be exclusive can only place business with one company like State Farm, Allstate and AAA. They usually cannot place coverage with different providers so you might not find the best rates. Exclusive agents are well schooled on sales techniques which helps offset the inability to provide other markets.
Listed below is a list of exclusive insurance agents in Philadelphia willing to provide price quotes.
Deciding on an car insurance agent requires more thought than just the premium amount. Here are some questions you might want to ask.
- Are there any discounts for paying up front?
- By raising physical damage deductibles, how much would you save?
- Are they full-time agents?
- Which company do they place the most coverage with?
- If your car is in the repair shop, do you have coverage for a rental car?
- If you have an accident, will your rates go up?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
Auto insurance coverage basics
Having a good grasp of auto insurance helps when choosing appropriate coverage and the correct deductibles and limits. The terms used in a policy can be ambiguous and reading a policy is terribly boring. Listed below are typical coverage types found on most auto insurance policies.
Liability insurance protects you from damage that occurs to other's property or people by causing an accident. It protects you from claims by other people. It does not cover your own vehicle damage or injuries.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. As an example, you may have policy limits of 15/30/5 which stand for $15,000 bodily injury coverage, $30,000 for the entire accident, and a limit of $5,000 paid for damaged property. Another option is a combined limit which provides one coverage limit without having the split limit caps.
Liability coverage protects against things like legal defense fees, loss of income and repair bills for other people's vehicles. How much liability coverage do you need? That is your choice, but you should buy as large an amount as possible. Pennsylvania requires minimum liability limits of 15/30/5 but you should consider buying more coverage.
The chart below demonstrates why buying minimum limits may not be high enough to cover claims.
Comprehensive auto coverage
This pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things like vandalism, theft and fire damage. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Coverage for collisions
Collision insurance pays to fix your vehicle from damage resulting from colliding with an object or car. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims such as crashing into a building, damaging your car on a curb and colliding with another moving vehicle. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. You can also choose a higher deductible on your Bolt EV to get cheaper collision coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle from other motorists when they do not carry enough liability coverage. Covered losses include injuries sustained by your vehicle's occupants as well as your vehicle's damage.
Due to the fact that many Pennsylvania drivers only carry the minimum required liability limits (15/30/5), it doesn't take a major accident to exceed their coverage limits. That's why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally these coverages are identical to your policy's liability coverage.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance provide coverage for short-term medical expenses like ambulance fees, dental work and rehabilitation expenses. They are often used in conjunction with a health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not available in all states but it provides additional coverages not offered by medical payments coverage
Shop smart and save
Budget-conscious Chevy Bolt EV insurance is possible from both online companies in addition to local insurance agencies, so get free Philadelphia auto insurance quotes from both of them so you have a total pricing picture. Some insurance providers may not provide online quoting and usually these small insurance companies prefer to sell through independent insurance agencies.
As you restructure your insurance plan, it's very important that you do not skimp on coverage in order to save money. In many instances, drivers have reduced comprehensive coverage or liability limits to discover at claim time that it was a big mistake. The goal is to purchase plenty of coverage at the lowest possible cost, but don't skip important coverages to save money.
More information is located on the following sites:
- Frontal Crash Tests (iihs.org)
- What Auto Insurance is Cheapest for College Graduates in Philadelphia? (FAQ)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Tread Depth and Tire Safety (State Farm)
- What is Full Coverage? (Allstate)