by E Sneneh, Expert of Cheap Car Insurance in Chicago
The words 'cheap auto insurance' is overused in the online promotion documents. Quite a few webpges look at the words as abuse. Many insurance advertisers use the term benefiting from the fact that internet search customers are using the words to look for car insurance where they can save the maximum amount of premiums. During intense economic conditions, everyone wants to save money on everything including auto insurance.
Based upon Google AdWords, there are only 260 global searches for the term 'quality auto insurance' as opposed to over 100,000 global searches for the term 'cheap auto insurance'. Other search transactions for phrases pertaining 'quality' versus 'cheap' suggest that there is a extreme and substantial difference in favor of the phrases affiliated with 'cheap' as compared with terms associated with 'quality' insurance. Internet marketers understand these facts and try to take them in consideration as they apply their internet marketing for auto insurance.
And so what is the definition of 'cheap auto insurance'? The terms 'cheap auto insurance', 'low cost auto insurance', 'cheap car insurance', and 'low cost car insurance', as well as other similar phrase refer to particular car insurance policies provided by certain insurance companies under certain scenarios including:
Critical Community and Business Function of Inexpensive Car Insurance
- Auto insurance policies made without applicant credit examination, or with little regard to credit matters. Quality insurance companies, generally, do examine credit, and applicant's credit background plays a necessary consideration in forming the price.
- Car insurance policies provided without MVR testing, or with little emphasis on blemishes on MVR such as minor traffic violations and certain suspension. Quality insurance providers give MVR great deal of care. Some quality, preferred companies may not allow more than one or 2 violations for the whole household to qualify for their quality auto insurance.
- Auto insurance contracts written with low liability amounts, mostly at state minimum or very close to minimum amounts imposed by law. In the State of Illinois, the limits of liability car insurance is 20/40/15, or maximum coverage of $20,000 of bodily injury per person, $40,000 of bodily injury per accident and a maximum of $15,000 property damage per accident. Similar amounts of bodily injuries (not property damage) are included in every policy for uninsured motorists, but not underinsured motorists.) Amounts in excess of those may not be offered by many companies that provide 'cheap car insurance'. This fact can cause critical problems for individuals who buy auto insurance without considering the purpose of auto insurance, and its purpose in the general financial plan to protect one's wealth and property. For people with considerable wealth and assets, getting a low liability auto policy (cheap auto insurance) can have very negative effect on the person's financial plan.
- Insurance coverage issued with the purpose of providing claim / customer services less in quality than those offered by preferred insurance providers. Customer and claim services provided by cheap car insurance carriers are typically more inferior.
cheap auto insurance is not planned for people who need or can afford regular high liability limits, quality car insurance. But there will be situations where cheap auto insurance may be the solution for particular problems. The following list summary of certain events where cheap auto insurance performs important functions:
- Operators with imperfect driving records (such as DUIs or multiple violations) may not be eligible for preferred, quality car insurance. inexpensive auto insurance is the answer.
- Individuals who can obtain quality, preferred car insurance, but resulting from their age, ZIP, or credit matter, the cost of high liability limits insurance is very excessive. For instance, if a 20 year old student high limit policy costs $1,000 compared with $250 with inexpensive car insurance company- Here the student may not be able to purchase the higher rate every six months, and cheap auto insurance may be the answer.
- Insureds with foreign driving licenses and people with no licenses may not get approved for preferred, quality car insurance. In cases like that inexpensive car insurance is the solution.
So while inexpensive car insurance is associated with critical coverage challenges generally for individuals with certain wealth to protect, it continues to be a key solution for many other challenges facing certain classes of individuals in our society.