You can save money if you are only looking for liability-only car insurance. You should be aware, however, that different insurance providers will weigh risk factors differently when determining the quote. For example, if you have an older car that isn't worth much, liability-only insurance might not be the best option for you.
Liability Insurance at Low Cost
WalletHub compared quotes from 17 of the largest auto insurers and found that the cheapest insurance for liability is offered by a few companies. Each company bases its price on a base driver profile which includes age, gender and location.
Geico Progressive State Farm are some of the companies that offer the lowest liability insurance rates. These companies offer cheap rates as well as discounts such a student discount or multi-car discount.
It's crucial to compare car insurance providers based on your credit score. You may be able to lower your rates by fixing any blemishes on your record.
It's also important to know if you expect to have an accident or receive a traffic ticket in the foreseeable future. An accident for which you are responsible will raise your rates. Therefore, it is best to obtain insurance while your driving record remains clean.
A good rule of thumb is to choose a policy with liability limits that are lower than your state's minimum requirements, as this will help you avoid paying expensive premiums in the event of an accident. These limits may be written with three numbers. An example is 25/50/25. The maximum amount for bodily damage liability you can afford is 25, and your maximum limit on property damage coverage is 50.
Liability insurance alone is often cheaper than the national average. It's because liability insurance is cheaper than covering your own expenses like medical bills or repairs to your vehicle.
Liability-only insurance is also cheaper than a full coverage policy for teenagers. This is because a teen has a lower risk of getting in an accident than an older driver, so insurers are willing to offer less costly policies for them.
A policy purchased by a grandparent or parent can help young drivers save money on liability only car insurance. A teenager can be added to an existing insurance policy at a lower cost than purchasing a new one.
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. This is a common cause of vehicle damage. Policies that only cover liability are designed to protect you against these risks.
Liability-only policies are usually less expensive than full coverage, but finding the best policy can be challenging. The best way for you to find the right policy is by getting multiple quotes.