Insurance for Mitsubishi LancerHow long has it been since the last time you looked for lower-priced auto insurance rates in Evansville, IN? Evansville shoppers have options when shopping for low-cost Mitsubishi Lancer insurance. They can either spend hours struggling with agents getting price quotes or leverage the internet to make rate comparisons.

There is a right way and a wrong way to shop for auto insurance and we'll show you the best way to get price quotes for a new or used Mitsubishi and get the lowest price.

It's important to compare premium rates as often as possible because insurance prices change frequently. Even if you got the lowest rates on Mitsubishi Lancer insurance in Evansville a year ago the chances are good that you can find a lower rate quote today. Forget anything you know (or think you know) about auto insurance because you're about to learn the quickest way to remove unneeded coverages and save money.

The companies shown below provide comparison quotes in Evansville, IN. If several companies are displayed, we suggest you compare several of them in order to get a fair rate comparison.

Mitsubishi Lancer Insurance Price Estimates in Evansville, IN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $302 $632 $380 $22 $114 $1,450 $121
Lancer ES $146 $306 $364 $22 $110 $948 $79
Lancer GTS $234 $486 $294 $18 $88 $1,120 $93
Lancer Sportback GTS $302 $610 $380 $22 $114 $1,428 $119
Lancer RALLIART $188 $376 $264 $16 $80 $924 $77
Lancer Sportback Ralliart $186 $352 $280 $16 $84 $918 $77
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Estimates do not factor in vehicle location which can increase or decrease prices greatly.

Comparison of policy deductibles

The hardest decision when buying coverage is how high should your deductibles be. The rates below illustrate the differences in price when you buy lower versus higher physical damage coverage deductibles. The first rate table uses a $100 deductible for comprehensive and collision coverage and the second rate chart uses a $1,000 deductible.

Mitsubishi Lancer insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $272 $514 $280 $16 $84 $1,191 $99
Lancer ES $272 $514 $280 $16 $84 $1,191 $99
Lancer GTS $304 $592 $280 $16 $84 $1,301 $108
Lancer Sportback GTS $304 $592 $280 $16 $84 $1,301 $108
Lancer RALLIART $334 $670 $280 $16 $84 $1,409 $117
Lancer Sportback Ralliart $334 $670 $280 $16 $84 $1,409 $117
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Mitsubishi Lancer insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $152 $270 $280 $16 $84 $802 $67
Lancer ES $152 $270 $280 $16 $84 $802 $67
Lancer GTS $168 $312 $280 $16 $84 $860 $72
Lancer Sportback GTS $168 $312 $280 $16 $84 $860 $72
Lancer RALLIART $186 $352 $280 $16 $84 $918 $77
Lancer Sportback Ralliart $186 $352 $280 $16 $84 $918 $77
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Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Indiana minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate quotes do not factor in vehicle garaging location which can raise or lower rates noticeably.

We can estimate from the data above that using a $100 deductible could cost the average driver approximately $36 more each month or $432 each year than opting for the higher $1,000 deductible. Because you would pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to average more than 25 months between claims, you would save money if you elect the higher deductible.

How to calculate deductible break even point

Average monthly premium for $100 deductibles: $108
Average monthly premium for $1,000 deductibles (subtract): - $72
Monthly savings from raising deductible: $36
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $36
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 25 months

One thing to note is that raising deductibles means you will have to pay more when you have to file a claim. That will force you to have some money saved in the event you have to pay more to get your vehicle repaired.

Violations and accidents raise rates

The illustration below demonstrates how citations and fender-benders influence Mitsubishi Lancer insurance rates for different categories of driver ages. The data assumes a married female driver, comp and collision included, $500 deductibles, and no discounts are factored in.

Full coverage versus liability-only in Evansville

The example below shows the difference between Mitsubishi Lancer car insurance costs with full physical damage coverage compared to only buying liability only. The prices are based on no claims or driving citations, $100 deductibles, married female driver, and no discounts are taken into consideration.

Guidelines for dropping full coverage

There is no exact formula of when to drop comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let's pretend your Mitsubishi Lancer settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying your deductible. If you are paying more than $300 annually for your policy with full coverage, then you might want to consider buying only liability coverage.

There are some conditions where eliminating full coverage is not advised. If you still owe money on your vehicle, you have to carry full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should maintain full coverage.

Situations that may require an agent's advice

When selecting coverage online or from an agent, there really is no one-size-fits-all type of policy. Everyone's situation is unique so this has to be addressed.Safe vehicles cost less to insure Here are some questions about coverages that could help you determine if your situation would benefit from an agent's advice.

If it's difficult to answer those questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier It's fast, free and you can get the answers you need.

Insurance agent or online?

A lot of people just want to get professional advice from a licensed agent. Agents can answer important questions and help in the event of a claim. One of the benefits of price shopping on the web is you can get the lowest rates and still have an agent to talk to. Buying from neighborhood insurance agencies is especially important in Evansville.

Evansville insurance agentsAfter filling out this quick form, your information gets sent to local insurance agents in Evansville who will give you quotes to get your business. It makes it easy because there is no need to even leave your home since price quotes are sent directly to your email. In the event you want to compare rates from a specific auto insurance provider, just go to their quote page and submit a quote form there.

Car insurance agents in Evansville come in two varieties

When searching for a reputable agency, you need to know there are two types of insurance agents and how they can service your needs differently. Insurance agencies in Evansville are considered either independent or exclusive. Both properly insure your vehicles, but it's a good idea to understand the differences since it may influence buying decisions.

Independent Agencies or Brokers

Independent insurance agents are not required to write business for one company so they can write business with a variety of different insurance companies depending on which coverage is best. If you want to switch companies, your policy is moved internally which makes it simple for you. If you need lower rates, it's recommended you get some free quotes from several independent agencies to ensure the widest selection of prices. Many independent agencies also insure through additional companies that you may not be familiar with that may have much lower rates than larger companies.

Below is a small list of independent insurance agents in Evansville that can possibly get you pricing information.

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Exclusive Auto Insurance Agents

Agents of this type have only one company to place business with like Farmers Insurance or State Farm. They are unable to provide prices from multiple companies so it's a take it or leave it situation. These agents are well trained on the products they sell and that enables them to sell even at higher rates. Many people choose to use an exclusive agent mostly because of high brand loyalty rather than low price.

Shown below is a list of exclusive insurance agents in Evansville who can help you get price quote information.

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Choosing the best insurance agent needs to be determined by more than just the premium amount. The questions below may impact your decision as well.

If you receive good feedback to any questions you have as well as a price you're happy with, it's possible that you found an insurance agent that meets the criteria to insure your vehicles.