If you're in the market for liability only car insurance, you can save a lot of money by shopping around. You should be aware, however, that different insurance providers will weigh risk factors differently when determining the quote. If you own an older vehicle that's not worth much, you might want to consider liability-only coverage.
Liability Insurance Low Cost
WalletHub analyzed the quotes of 17 major auto insurance companies to find the cheapest company for liability only car insurance. Each company bases its price on a base driver profile which includes age, gender and location.
Geico Progressive State Farm tend to offer the most affordable liability insurance policies. These companies offer low rates, as well discounts like student discounts and multi-car discounts.
Comparing car insurance companies is important when considering your credit score. Your rates may be reduced if you fix any blemishes.
It's also important to know if you expect to have an accident or receive a traffic ticket in the foreseeable 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 will often be expressed as a series of three numbers. For example, 25/50/25. It means that your maximum liability limit for bodily harm per person can be 25, and you have a maximum coverage of 50.
Liability only car insurance typically costs less than half the national average. This is because it is more cost-effective to have liability coverage rather than cover your own expenses.
Also, it's cheaper to purchase liability-only coverage for a teen driver than to purchase a comprehensive policy. 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.
In most cases, young drivers who purchase a policy via a parent/grandparent can save on liability-only auto insurance. It's also less expensive to add a teenager to an existing policy than to purchase a new 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. Liability-only insurance policies cover these two causes of vehicle damage.
The cheapest liability-only car insurance is usually cheaper than a full policy, but it can be difficult to find the right policy for you. The best way for you to find the right policy is by getting multiple quotes.