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. If your older car isn't very valuable, liability insurance alone might not be a good option.
Liability Insurance Low Cost
WalletHub analyzed the quotes of 17 major auto insurance companies to find the cheapest company for liability only car insurance. The price of each company is determined by a driver profile, which includes the person's gender, age and location.
The cheapest liability insurance policies tend to be offered by companies like Geico, Progressive and State Farm. These companies offer affordable rates and discounts like multi-car discounts and student discounts.
It's crucial to compare car insurance providers based on your credit score. By removing any blemishes from your record, you could lower your car insurance rates.
Consider whether you will get a ticket, or an accident, in the near term. Having an at-fault accident on your record will raise your insurance rates, so it's best to get coverage while you have a clean driving record.
The best rule is to pick a policy with lower liability limits than the state's minimum. This way, you can avoid paying high premiums should an accident occur. These limits are usually written in a three-digit format, like 25/50/25. This means that you can only afford to pay a maximum of $25 for bodily injury coverage per person, and $50 maximum for property damage.
Liability insurance alone is often cheaper than the national average. This is because it's cheaper to provide liability coverage than it is to cover your own expenses, such as medical bills and repairs to your car.
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. A teen driver has a much lower risk of an accident compared to an older driver. As a result, insurance companies are willing and able to offer them a less expensive policy.
By purchasing a liability-only policy from a parent or grandparent, young drivers can save money. It is cheaper to add teenagers to an already existing policy rather than purchase a separate policy.
Last but not least, if your area has a high rate of crime, it is worth getting an inexpensive liability insurance plan to protect yourself in the event that you become a victim of theft or vandalism. These are two common causes of vehicle damage, and liability-only policies are designed to cover only those risks.
Liability-only policies are usually less expensive than full coverage, but finding the best policy can be challenging. Multiple quotes can help you get the best deal.