Cheapest Insurance for a Mitsubishi Lancer in Cincinnati

Want to learn a better way to compare the cheapest Mitsubishi Lancer insurance in Cincinnati? When searching for more affordable insurance, are you intimidated by the crazy number of insurance providers in your area? Many other people are as well. Drivers have so many providers to choose from that it can be a challenge to find the perfect company for you. Cincinnati is a great city to live in, but the high premiums for insurance can make it difficult for lots of drivers to be able to afford adequate coverage.

Smart shoppers know that car insurance companies don’t want you comparing rates. Drivers who shop around are likely to buy a different policy because of the high probability of finding better rates. A recent study showed that consumers who regularly shopped around saved approximately $865 annually compared to other drivers who didn’t regularly shop around.

If finding the lowest rates on Mitsubishi Lancer insurance is your intention, then having some knowledge of how to get rate quotes and compare auto insurance can save time and make the process easier.

If you have insurance now, you will surely be able to get lower rates using this strategy. The purpose of this post is to tell you the best methods to compare rates and some tips to save money. But Ohio car owners do need to understand the way insurance companies determine what you pay.

Rates and detailed analysis

The coverage information shown below outlines a range of coverage costs for Mitsubishi Lancer models. Having insight into how auto insurance policy rates are determined can help guide drivers when making informed decisions when comparing rates.

Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Premium amounts do not factor in specific zip code location which can change rates significantly.

Deductible comparison

One of the hardest decisions when shopping for insurance is at what level do you set your deductibles. The following tables lay out the differences in price between low and high policy deductibles. The first set of rates uses a $100 deductible for physical damage and the second rate chart uses a $500 deductible.

Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Table data does not factor in vehicle location which can alter coverage rates noticeably.

Based on this data, we can arrive at the conclusion that using a $100 deductible would cost the average driver about $20 more each month or $240 for a full year than opting for the higher $500 deductible. Because you would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally go at least 20 months between claim filings, you would most likely save money by going with a higher deductible. Here is how you can come to your own conclusion.

An important thing to remember is that raising deductibles to save money results in having to pay to pay more out-of-pocket if you have a claim. You need to make sure you have a higher level of savings in the event you have to pay more for the deductible.

The diagram below illustrates how choosing a deductible and can influence Mitsubishi Lancer insurance costs for different age groups of insureds. The price estimates are based on a single female driver, full coverage, and no discounts are factored in.

Insurance rates by gender and age in Cincinnati

The example below shows the difference between Mitsubishi Lancer insurance prices for male and female drivers. The price estimates are based on no violations or claims, full physical damage coverage, $100 deductibles, marital status is single, and no discounts are applied.

Full coverage rates vs. liability-only

The diagram below compares Mitsubishi Lancer car insurance rates with full coverage and liability only. The prices are based on a clean driving record, no claims, $250 deductibles, single marital status, and no discounts are factored in.

Are you wasting money on full coverage?

There is no set guideline of when to drop full coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of the settlement you would receive from your company, then you might consider buying liability only.

For example, let’s assume your Mitsubishi Lancer replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after the deductible is paid. If you are paying more than $200 a year for your policy with full coverage, then you may need to consider dropping full coverage.

There are some conditions where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you have to keep full coverage to protect the lienholder’s interest in the vehicle. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.

How Your Lancer Insurance Costs are Determined

Consumers need to have an understanding of a few of the rating criteria that come into play when calculating the level of your policy premiums. If you know what controls the rates you pay, this allows you to make educated decisions that may reward you with lower premium levels. Many things are used when premium rates are determined. Most are fairly basic such as traffic violations, but others are more obscure such as your marital status and annual miles driven.

• Too many auto insurance claims drive up auto insurance rates – If you frequently file small claims, you shouldn’t be surprised to get increased rates or even have your policy non-renewed. Car insurance companies in Ohio provide lower rates to insureds who do not rely on their insurance for small claims. Your insurance policy is intended to be relied upon for larger claims.

• Age of drivers – Older insureds are more responsible, cost insurance companies less in claims, and usually have better credit. Beginning drivers are known to be inattentive and easily distracted when driving with friends therefore auto insurance rates are much higher.

  The chart below uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

• Qualify for multi-policy discounts – The majority of insurance companies give a discount to policyholders who have multiple policies with them such as combining an auto and homeowners policy. If you currently are using one company, you may still want to get quotes from other companies to guarantee you are still saving the most.
• Costs may be higher where you live – Having an address in less populated areas can save you money when talking about auto insurance. Fewer people means reduced accidents and a lower car theft rate. People who live in big cities regularly have more aggressive driving styles and more severe claims. Longer commute distances statistically corresponds to a higher accident and claim rate.
• Low coverage deductibles can be expensive – Comprehensive and collision coverage deductibles are the amount of money you are willing to pay if you file a covered claim. Physical damage insurance, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some coverage claims are rear-ending another vehicle, damage caused by hail, or theft of your vehicle. The larger the amount you choose to pay out-of-pocket, the less your auto insurance will be.

• Insurance losses for a Mitsubishi Lancer – Insurers analyze past claim statistics as a tool for profitable underwriting. Vehicles that historically have a trend towards higher claims will have higher rates.

  The table below illustrates the insurance loss data for Mitsubishi Lancer vehicles. For each type of coverage, the loss probability for all vehicles compiled together is represented as 100. Numbers shown that are under 100 represent a good loss history, while values that are 100 or greater point to more losses or an increased likelihood of larger losses.

  
  

  Insurance Loss Ratings for Mitsubishi Lancer Vehicles

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Mitsubishi Lancer 2WD	153	146	127	192	218	172
  Mitsubishi Lancer 4WD	149	131	148	135
  Mitsubishi Lancer Evolution 4WD	225	123	221

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Get the best coverage at the best price

People leave their current company for a number of reasons such as poor customer service, policy cancellation, lack of trust in their agent or even delays in responding to claim requests. It doesn’t matter why you want to switch finding a new company is easier than you think.

You just learned a lot of tips how to lower your Mitsubishi Lancer insurance prices in Cincinnati. The key thing to remember is the more times you quote, the more likely it is that you will get a better rate. Consumers could even find that the best prices are with a lesser-known regional company.

Lower-priced Mitsubishi Lancer insurance in Cincinnati is definitely available on the web in addition to local insurance agencies, so get free Cincinnati auto insurance quotes from both of them in order to have the best price selection to choose from. Some insurance providers may not provide the ability to get quotes online and usually these regional insurance providers only sell through independent agencies.

How to save money on Mitsubishi Lancer insurance in Cincinnati

Truthfully, the best way to get the cheapest Mitsubishi Lancer insurance in Cincinnati is to compare prices once a year from providers who sell insurance in Ohio. You can shop around by following these steps.

First, try to comprehend how car insurance works and the measures you can take to prevent expensive coverage. Many rating criteria that increase rates like traffic tickets, fender benders, and your credit history can be amended by making minor changes to your lifestyle.

Second, compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like GEICO and State Farm, while independent agencies can provide prices for a wide range of insurance providers. Select a company

Third, compare the new rates to your current policy to see if you can save by switching companies. If you find a better price, make sure coverage does not lapse between policies.

Fourth, notify your agent or company of your intent to cancel your current car insurance policy and submit payment and a completed application for your new coverage. When you receive it, place the new certificate verifying proof of insurance somewhere easily accessible.

An important note is to use the same deductibles and limits on every price quote and and to analyze every company you can. Doing this helps ensure a fair rate comparison and the most accurate and complete price analysis.

Other resources

• Crash Avoidance Technologies FAQ (iihs.org)
• How Much are Cincinnati Auto Insurance Rates for a Subaru Outback? (FAQ)
• Who Has the Cheapest Cincinnati Auto Insurance Rates for Retired Military? (FAQ)
• Who Has the Cheapest Car Insurance Rates for Drivers with a DUI in Cincinnati? (FAQ)
• Who Has Affordable Auto Insurance for Drivers with a Bad Driving Record in Cincinnati? (FAQ)
• How Much are Auto Insurance Quotes for a Toyota Camry in Cincinnati? (FAQ)
• Who Has Cheap Car Insurance for a Ford Escape in Cincinnati? (FAQ)
• What are my Rights when Filing a Claim? (Insurance Information Institute)
• Electronic Stability Control FAQ (iihs.org)
• What if I Can’t Find Coverage? (Insurance Information Institute)