9 Simple Ways to Reduce Lotus Esprit Rates

Feel like you’re a prisoner to high-priced auto insurance? Trust us, there are lots of people in the same boat.

Consumers have many car insurance companies to insure vehicles with, and though it is a good thing to have multiple companies, it can be more challenging to compare rates and find the lowest cost auto insurance.

Low Cost Auto Insurance

To find the best auto insurance prices, there are several ways of comparing rates and find the best price. One of the best ways to find competitive Lotus Esprit insurance rates is to perform an online rate comparison. This is very easy and can be done in just a few minutes using one of these methods.

One of the simplest ways to get quotes for comparison is a comparison rater form like this one (opens in new window). This method keeps you from doing separate quotes for every auto insurance company. One quote request gets you coverage quotes from several companies.

A less efficient way to shop for auto insurance online consists of visiting the website for each individual company to complete their respective quote request forms. For sake of this example, we’ll assume you want to compare Liberty Mutual, Esurance and GEICO. To get each rate you have to take the time to go to each site to enter your coverage information, and that’s why the first method is more popular.

For a list of links to companies insuring cars in your area, click here.

However you get your quotes, double check that you are using identical deductibles and coverage limits for each price quote. If you have different deductibles it will be very difficult to truly determine the lowest rate. Slightly different coverages can make a big difference in price. It’s important to know that getting more free quotes will increase your chances of finding the best price.

Are you getting all your discounts?

Companies that sell car insurance don’t list all their discounts in an easy-to-find place, so we researched both well-publicized as well as the least known ways to save on auto insurance.

• Discount for Swiching Early – Some companies give discounts for buying a policy prior to your current policy expiration. The savings is around 10%.
• Seat Belt Usage – Buckling up and requiring all passengers to buckle their seat belts can save 10% or more off the personal injury premium cost.
• Pay Upfront and Save – If paying your policy premium upfront instead of monthly or quarterly installments you could save up to 5%.
• Drive Safe and Save – Drivers who don’t get into accidents may receive a discount up to 45% less for Esprit coverage than drivers with accident claims.
• College Student – Youth drivers who live away from home and do not have access to a covered vehicle can be insured at a reduced rate.
• Military Discounts – Being deployed with a military unit could be rewarded with lower premiums.
• Federal Government Employee – Simply working for the federal government could cut as much as 10% off for Esprit coverage with select insurance companies.
• Low Mileage – Fewer annual miles on your Lotus could qualify for a substantially lower rate.
• More Vehicles More Savings – Insuring multiple cars or trucks on one policy could earn a price break for each car.

It’s important to understand that most discount credits are not given the the whole policy. Most cut the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think it’s possible to get free car insurance, companies don’t profit that way.

For a list of providers who offer auto insurance discounts, click this link.

What auto insurance coverages do you need?

Having a good grasp of your auto insurance policy can help you determine the best coverages and proper limits and deductibles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Shown next are typical coverage types offered by auto insurance companies.

Liability car insurance

Liability insurance can cover damages or injuries you inflict on people or other property that is your fault. It protects YOU from claims by other people, and does not provide coverage for your injuries or vehicle damage.

Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show limits of 25/50/25 that means you have a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability coverage protects against things such as emergency aid, pain and suffering and court costs. How much liability coverage do you need? That is your choice, but you should buy higher limits if possible.

Collision coverage

This coverage pays for damage to your Esprit resulting from a collision with another car or object. A deductible applies then your collision coverage will kick in.

Collision coverage pays for claims such as damaging your car on a curb, scraping a guard rail, sustaining damage from a pot hole, colliding with another moving vehicle and hitting a parking meter. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. Another option is to increase the deductible to get cheaper collision coverage.

Comprehensive or Other Than Collision

This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for things such as vandalism, hail damage and damage from flooding. The maximum payout your auto insurance company will pay is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical costs insurance

Coverage for medical payments and/or PIP provide coverage for short-term medical expenses such as rehabilitation expenses, funeral costs, nursing services, doctor visits and EMT expenses. They are used to cover expenses not covered by your health insurance policy or if there is no health insurance coverage. It covers all vehicle occupants in addition to getting struck while a pedestrian. PIP is not available in all states but it provides additional coverages not offered by medical payments coverage

UM/UIM Coverage

This coverage protects you and your vehicle when other motorists are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries and damage to your Lotus Esprit.

Since many drivers have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is important protection for you and your family.

Final considerations

Cheap Lotus Esprit insurance is definitely available on the web as well as from independent agents, and you need to comparison shop both to get a complete price analysis. Some auto insurance companies don’t offer you the ability to get quotes online and many times these small insurance companies only sell through independent insurance agents.

When buying insurance coverage, it’s a bad idea to reduce needed coverages to save money. There are many occasions where someone dropped liability coverage limits and discovered at claim time they didn’t purchase enough coverage. Your aim should be to buy enough coverage at the best price.

We just covered some good ideas how you can compare Lotus Esprit insurance prices online. The most important thing to understand is the more companies you get rates for, the better your chances of lowering your rates. You may even find the biggest savings come from a small local company. They may cover specific market segments cheaper than their larger competitors like Allstate and Progressive.