If you're in the market for liability only car insurance, you can save a lot of money by shopping around. You should also know that different companies may weigh different factors, such as risk, when determining a 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.
Low Cost Liability Insurance
WalletHub analyzed 17 quotes from major auto insurers in order to determine the cheapest companies offering liability-only insurance. Each company bases its price on a base driver profile which includes age, gender and location.
Geico Progressive State Farm and other companies offer the cheapest liability policies. These companies not only offer cheap insurance rates but also discounts like the student discount and multicar discounts.
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.
You should also consider whether or not you are likely to receive a ticket or an accident in the near future. If you've had an accident that was your fault, your insurance costs will go up. It is therefore best to buy coverage before your driving record becomes tarnished.
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 can be written as three numbers such as 25/50/25. That means the maximum bodily injuries liability coverage that you are willing to pay per person is 25, while the maximum property damage liability coverage is 50.
The cheapest liability-only car insurance is typically less than half of 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. 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.
A policy purchased by a grandparent or parent can help young drivers save money on liability only car insurance. It is cheaper to add teenagers to an already existing policy rather than purchase a separate policy.
You should also consider a low cost liability insurance to protect yourself from vandalism and theft if you are living in a high-crime area. The two most common causes of car damage are theft and vandalism. Liability only policies are designed for these risks.
A liability only policy will usually be cheaper than an entire policy. Finding the right policy to suit your needs can however be difficult. The best way for you to find the right policy is by getting multiple quotes.