Are you tired of not being able to scrape enough together to pay car insurance each month? You are no different than many other Texas drivers.
Unimaginable but true, over 70% of Texas drivers kept buying from the same company for over three years, and nearly the majority have never taken the time to shop around. Drivers in the United States could save almost 46.5% a year by just comparing quotes, but they just don’t understand the amount of money they would save if they swap their current policy for a cheaper one.
Consumers have many auto insurance companies to choose from, and even though it’s nice to have a choice, more choices can make it harder to find the lowest rates for Mitsubishi Lancer insurance in Houston.
You need to compare premium rates on a regular basis because car insurance rates are adjusted regularly by insurance companies. Despite the fact that you may have had the lowest premium rates on Mitsubishi Lancer insurance in Houston on your last policy you can probably find a lower rate today. Forget all the misinformation about car insurance because you’re about to find out one of the easiest ways to find better coverage on Mitsubishi Lancer insurance in Houston at a better price.
What Determines Mitsubishi Lancer Insurance Rates?
Many factors are part of the equation when quoting car insurance. A few of the factors are predictable such as your driving record, but others are less obvious such as your credit history or your commute time.
- Never have coverage lapses – Not having insurance is a big no-no and you will pay a penalty because you let your insurance lapse. Not only will you pay more, failure to provide proof of insurance can result in a fine, jail time, or a revoked license. You will then be forced to prove you have insurance by filing a SR-22 with the Texas DMV.
- Insure car and home with the same company – Most larger insurers apply better rates to buyers who buy several policies from them such as combining an auto and homeowners policy. Discounts can amount to anywhere from five to ten percent in most cases. Even with this discount applied, you may still want to comparison shop to verify if the discount is saving money.
- Why do you need liability insurance? – Liability insurance provides coverage when you are determined to be liable for physical damage or personal injury to other. Your liability coverage provides legal defense coverage to attempt to prove you were not liable. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so do not skimp.
- Older drivers pay less – Older drivers have been proven to be more responsible, tend to file fewer claims, and are safer drivers.Teenage drivers are known to get distracted easily when at the wheel of a vehicle so auto insurance rates are higher.
- Insurance loss statistics a Mitsubishi Lancer – Insurers study historical loss data when they set coverage costs for each model. Models that are shown to have higher claim frequency or loss amount will have higher rates for specific coverages.
The table below demonstrates the historical loss data for Mitsubishi Lancer vehicles. For each policy coverage, the statistical loss for all vehicles, without regard to make or model, is a value of 100. Values that are under 100 suggest a better than average loss history, while percentage numbers above 100 indicate higher probability of having a loss or statistically larger claims.
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
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When comparison shopping, comparing more prices helps increase your odds of locating a lower rate than you’re paying now. Some companies don’t provide online Houston Lancer insurance quotes, so you need to compare price quotes on coverage from those companies, too.
The companies shown below offer free rate quotes in Houston, TX. If more than one company is shown, we recommend you visit several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Lancer Sportback GTS||$344||$542||$500||$30||$150||$1,566||$131|
|Lancer Sportback Ralliart||$400||$876||$462||$28||$138||$1,904||$159|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Table data does not factor in Houston location which can change coverage prices significantly.
Rate difference between full and liability-only coverage
The chart below examines Mitsubishi Lancer auto insurance rates with full physical damage coverage and with liability coverage only. The information is based on no tickets, no at-fault accidents, $100 deductibles, single male driver, and no other discounts are factored in.
Are you wasting money on full coverage?
There is no set rule of when to stop paying for full coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s pretend your Mitsubishi Lancer replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $2,000 after paying the physical damage deductible. If it’s costing you more than $200 a year for physical damage coverage, then it might be time to buy liability only.
There are some scenarios where dropping physical damage coverage is not a good idea. If you still owe a portion of the original loan, you have to keep full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Mitsubishi Lancer annual premiums for males versus females
The chart below illustrates the comparison of Mitsubishi Lancer annual premium costs for male and female drivers. The data is based on no violations or claims, comp and collision included, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
Car insurance buyers beware
Car insurance providers like Progressive, GEICO, Allstate and State Farm endlessly run television, radio, and online ads. All the ads advertise claims about how much you will save just by moving your policy. How does each company have lower policy pricing? It’s all in how they say it.
Most companies quote their cheapest rates for the type of driver that will add to their bottom line. An example of a desirable risk might be married and over the age of 30, has a clear driving record, and does not commute to work. Someone who fits that profile receive the lowest rate quotes in Houston and therefore will save quite a bit of money when switching.
People who cannot meet these stringent criteria may be forced to pay higher rates which usually ends up with the driver buying from a lower-cost company. If you pay close attention to the ads, they say “people who switch” not “everybody who quotes” save that much. This is how insurance companies can confidently make it sound like they have such great rates.
Each company has different criteria, so drivers should compare free Houston auto insurance quotes often. It’s not possible to predict with any certainty which company will have better prices than you’re paying now.
Why insurance is not optional
Even though it can be expensive, insurance serves several important purposes.
- The majority of states have mandatory insurance requirements which means state laws require a specific minimum amount of liability insurance coverage in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your Mitsubishi Lancer, it’s most likely the lender will make it mandatory that you carry insurance to protect their interest in the vehicle. If the policy lapses, the bank may buy a policy for your Mitsubishi at a much higher rate and require you to reimburse them for the much more expensive policy.
- Insurance protects not only your Mitsubishi Lancer but also your assets. Insurance will pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability coverage, the one required by state law, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of buying enough insurance definitely exceed the price paid, particularly for liability claims. According to a recent study, the average American driver is overpaying more than $865 each year so shop around at every policy renewal to ensure rates are competitive.
Insurance policy discounts you can’t miss
Companies that sell car insurance don’t always list all discounts in a way that’s easy to find, so the next list breaks down some of the best known and also the more inconspicuous discounts that you can inquire about if you buy Houston auto insurance online. If you are not receiving all the discounts you qualify for, it’s possible you qualify for a lower rate.
- Driver Safety – Taking time to complete a driver safety course may get you a small discount and easily pay for the cost of the class.
- Seat Belt Discounts – Buckling up and requiring all passengers to buckle up before driving could save 15% on the medical payments or PIP coverage costs.
- Paperwork-free – Some larger companies will discount your bill up to fifty bucks for buying your policy on their website.
- No Accidents – Houston drivers who stay claim-free can save substantially compared to insureds who have frequent claims or accidents.
- Save with More Vehicles Insured – Buying insurance for primary and secondary vehicles with the same company qualifies for this discount.
- One Accident Forgiven – This one isn’t a discount, but certain companies will let one accident slide before raising your premiums if you are claim-free for a set time period.
- Buy New and Save – Insuring a new Lancer can save up to 30% due to better safety requirements for new model year vehicles.
- Drive Safe and Save – Drivers without accidents may save up to 50% more than drivers with accident claims.
- Multi-policy Discount – When you combine your auto and homeowners insurance with one insurance company you could earn a discount of at least 10 to 15 percent or more.
Discounts lower rates, but most discount credits are not given to the overall cost of the policy. Most only reduce individual premiums such as physical damage coverage or medical payments. Even though it may seem like you can get free auto insurance, companies wouldn’t make money that way.
Popular insurance companies and a selection of discounts can be read below.
- GEICO offers discounts for driver training, membership and employees, good student, federal employee, and daytime running lights.
- Travelers offers premium reductions for multi-policy, driver training, multi-car, home ownership, and save driver.
- Farm Bureau may offer discounts for renewal discount, driver training, 55 and retired, youthful driver, multi-policy, and good student.
- Liberty Mutual offers discounts including new move discount, teen driver discount, newly married, safety features, new vehicle discount, new graduate, and hybrid vehicle.
- American Family policyholders can earn discounts including bundled insurance, good student, TimeAway discount, accident-free, air bags, multi-vehicle, and good driver.
- Progressive may have discounts that include good student, online quote discount, homeowner, online signing, continuous coverage, multi-policy, and multi-vehicle.
If you want the cheapest Mitsubishi Lancer rate quotes, ask each insurance company the best way to save money. Some credits may not be offered everywhere. If you would like to choose from a list of insurers that offer multiple discounts in Houston, click here.
When to talk to a local insurance agent
Certain consumers still like to get advice from a local agent and we recommend doing that One of the benefits of price shopping on the web is that drivers can save money and get cheap insurance quotes and still buy from a local agent. Buying insurance from neighborhood insurance agencies is definitely important in Houston.
By using this short form, your coverage information is submitted to local insurance agents in Houston that can provide free Houston auto insurance quotes to get your business. You won’t even need to leave your computer since price quotes are sent directly to your email. You can find better rates and work with a local agent. If you need to get a rate quote for a specific company, you just need to find their quoting web page to submit a rate quote request.
Different types of car insurance agents in Houston
If you’re trying to find a reliable insurance agency, you must know there are a couple types of agencies and how they can service your needs differently. Agencies in Houston are either independent or exclusive.
Independent Insurance Agents (or Brokers)
Agents that elect to be independent are not employed by any specific company and that allows them to write policies with many different companies and find the cheapest rate. If they find a cheaper price, they simply move your policy to a different company and that require little work on your part. When comparing insurance rates, you will definitely want to get quotes from at a minimum one independent agency to ensure the widest selection of prices.
Shown below is a partial list of independent insurance agents in Houston that can give you free insurance rate quotes.
Exclusive agencies have only one company to place business with and some examples include Allstate, Farmers Insurance or State Farm. They usually cannot compare other company’s rates so if the price isn’t competitive there isn’t much they can do. Exclusive agents receive extensive training on their products and sales techniques which helps them sell insurance even at higher premiums.
Shown below are Houston exclusive insurance agents who can help you get price quotes.
Finding the right auto insurance agent needs to be determined by more than just the price. Before buying a policy in Houston, get answers to these questions.
- Are they primarily personal or commercial lines agents in Houston?
- Does the quote include credit and driving reports?
- Do they get extra compensation for selling add-on coverages?
- Are they properly licensed to sell insurance in Texas?
- Can glass claims be handled at your home?
- What insurance companies do they work with in Houston?
- Can they give you a list of client referrals?
- Does the company have a solid financial rating?
Persistent drivers can save
As you prepare to switch companies, don’t be tempted to reduce coverage to reduce premium. Too many times, someone sacrificed liability limits or collision coverage and learned later that they should have had better coverage. Your aim should be to buy a smart amount of coverage at the best cost, but do not sacrifice coverage to save money.
Cheaper Mitsubishi Lancer insurance in Houston can be purchased both online and with local Houston insurance agents, so get free Houston auto insurance quotes from both of them to have the best rate selection. Some insurance providers may not have online price quotes and most of the time these small, regional companies prefer to sell through independent insurance agents.
Additional learning opportunities
- Frontal Crash Tests (iihs.org)
- Who Has the Cheapest Auto Insurance for Teenage Males in Houston? (FAQ)
- Who Has the Cheapest Car Insurance for College Students in Houston? (FAQ)
- Who Has Cheap Auto Insurance Quotes for High School Students in Houston? (FAQ)
- Think You’re a Safe Driver? (State Farm)
- Prepare your Teens for Safe Driving (InsureUonline.org)