Best Insurance for a Mitsubishi Lancer in Toledo

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A study showed that 70% of consumers have purchased from the same company for at least the last four years, and just under half have never compared rates from other carriers. Toledo insurance shoppers could save an average of roughly $730 each year just by comparing rates, but most just don't grasp how much they could save if they just switched companies.

Insurance for Mitsubishi LancerThe most effective way to get discount auto insurance rates is to compare prices regularly from insurers in Toledo.

Step 1: Read and learn about how insurance works and the steps you can take to prevent expensive coverage. Many risk factors that cause high rates like speeding tickets, accidents and a poor credit rating can be improved by paying attention to minor details.

Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from one company like GEICO and Allstate, while independent agents can quote rates from multiple insurance companies.

Step 3: Compare the new quotes to your existing policy to see if you can save by switching companies. If you can save some money and switch companies, ensure there is no coverage lapse between policies.

Step 4: Provide notification to your current company of your intent to cancel your current auto insurance policy. Submit a signed application and payment to your new agent or company. As soon as coverage is bound, safely store the certificate of insurance above your visor, in the console, or in the glove compartment.

One thing to point out is that you'll want to make sure you compare the same amount of coverage on every quote and and to get quotes from as many companies as feasibly possible. Doing this guarantees a fair rate comparison and the best price selection.

Buying affordable auto insurance in Toledo can be much easier if you know how to start. If you have insurance now, you stand a good chance to be able to shop for the lowest rates using the techniques covered below. You just need to learn the most time-saving way to compare different rates from multiple carriers.

Rate information and statistics

The data table below outlines estimates of insurance prices for Mitsubishi Lancer models. Being aware of how insurance rates are calculated is important to be able to make decisions when shopping around.

Mitsubishi Lancer Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $200 $382 $234 $14 $70 $900 $75
Lancer ES $200 $382 $234 $14 $70 $900 $75
Lancer GTS $224 $440 $234 $14 $70 $982 $82
Lancer Sportback GTS $224 $440 $234 $14 $70 $982 $82
Lancer RALLIART $246 $498 $234 $14 $70 $1,062 $89
Lancer Sportback Ralliart $246 $498 $234 $14 $70 $1,062 $89
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Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Rate information does not factor in the specific area where the vehicle is garaged which can increase or decrease premium rates substantially.

Policy deductible comparison

The hardest decision when buying coverage is which deductible level should you buy. The rates below illustrate the cost difference when you buy lower versus higher insurance deductibles. The first data set uses a $250 deductible for comprehensive and collision coverage and the second price table uses a $500 deductible.

Mitsubishi Lancer insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $198 $348 $226 $14 $68 $879 $73
Lancer ES $198 $348 $226 $14 $68 $879 $73
Lancer GTS $220 $400 $226 $14 $68 $953 $79
Lancer Sportback GTS $220 $400 $226 $14 $68 $953 $79
Lancer RALLIART $244 $454 $226 $14 $68 $1,031 $86
Lancer Sportback Ralliart $244 $454 $226 $14 $68 $1,031 $86
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Mitsubishi Lancer insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Lancer DE $160 $280 $226 $14 $68 $748 $62
Lancer ES $160 $280 $226 $14 $68 $748 $62
Lancer GTS $180 $324 $226 $14 $68 $812 $68
Lancer Sportback GTS $180 $324 $226 $14 $68 $812 $68
Lancer RALLIART $198 $366 $226 $14 $68 $872 $73
Lancer Sportback Ralliart $198 $366 $226 $14 $68 $872 $73
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Estimates do not factor in specific Toledo garaging location which can lower or raise price quotes noticeably.

We can derive from the above data that using a $250 deductible costs approximately $11 more each month or $132 each year averaged for all Lancer models than selecting the higher $500 deductible. Because you would be required to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you have more than 23 months between claims, you would probably come out ahead if you choose the higher deductible.

The diagram below demonstrates how choosing different deductibles and can increase or decrease Mitsubishi Lancer insurance premiums for different age categories. The price estimates are based on a married female driver, comprehensive and collision coverage, and no discounts are applied to the premium.

How accidents and violations affect rates

The chart below highlights how speeding tickets and accident claims can raise Mitsubishi Lancer auto insurance rates for different age groups of insureds. The data is based on a married female driver, full coverage, $250 deductibles, and no discounts are factored in.

How Car Insurance Companies Determine Mitsubishi Lancer Insurance Rates

When buying auto insurance it's important to understand the rating factors that help determine your auto insurance rates. When you know what positively or negatively influences your rates, this empowers consumers to make smart changes that can help you get lower auto insurance prices. Lots of things are taken into consideration when you get a price on insurance. Some factors are common sense like a motor vehicle report, although some other factors are more obscure like your continuous coverage or your financial responsibility.

  • Your address can influence price - Being located in smaller towns and rural areas of the country can save you money when it comes to auto insurance. Fewer drivers and short commutes means fewer accidents in addition to fewer liability claims. Urban drivers have to deal with much more traffic and much longer commute distances. Higher commute times translates into higher accident risk.
  • Prices impacted by vehicle usage - The more you drive in a year's time the higher your rates will be. The majority of insurers charge rates based upon how you use the vehicle. Cars not used for work or commuting can get a lower rate than those used for commuting. Make sure your declarations sheet reflects how each vehicle is driven, because it can save money. Improper usage on your Lancer may be wasting your money.
  • Married people drive safer - Having a spouse actually saves money when buying auto insurance. It is viewed as being more responsible and insurance companies reward insureds because married drivers tend to file fewer claims.
  • Performance makes a difference - The make and model of the vehicle you need to insure makes a big difference in your rates. Lower performance four cylinder passenger vehicles generally have the cheapest insurance rates, but your final cost has many other factors.

    The data below assumes a married female driver age 30, full coverage with $250 deductibles, and no discounts or violations. It shows Mitsubishi Lancer insurance premiums compared to other vehicles that have a range of performances.

  • Filing claims can cost more - Car insurance companies in Ohio generally give cheaper rates to policyholders that do not abuse their auto insurance. If you file claims often, you can pretty much guarantee increased rates or even have your policy non-renewed. Your insurance policy is meant to be used in the event of the bigger claims that can't be paid out-of-pocket.
  • Guys tend to take more risk - Over time, data shows that females take fewer risks when driving. Now that doesn't mean women are BETTER drivers than men. Women and men cause at-fault accidents in similar percentages, but the men cause more damage. In addition to higher claims, males also have more aggressive citations like reckless driving and DUI. Young males are most likely to cause an accident and therefore pay the highest rates.

    The example below illustrates the comparison of Mitsubishi Lancer insurance premiums for male and female drivers. The premiums are based on no violations or claims, comp and collision included, $250 deductibles, single marital status, and no policy discounts are applied.

  • Loss statistics for a Mitsubishi Lancer - Companies use statistical claims data to calculate a price that will offset any claims. Vehicles that the data shows to have high amounts or severity of claims will have a higher cost to insure.

    The table below outlines the historical insurance loss data for Mitsubishi Lancer vehicles. For each type of coverage, the claim probability for all vehicles combined as an average is set at 100. Values under 100 indicate a favorable loss history, while percentage numbers above 100 point to more losses or a tendency for claims to be larger.

    Car Insurance Loss Data for Mitsubishi Lancer Models
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Mitsubishi Lancer 2WD 153 146 127 192 218 172
    Mitsubishi Lancer 4WD 149 131 148 135
    Mitsubishi Lancer Evolution 4WD 225 123 221
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Quote more to save more

As you restructure your insurance plan, it's a bad idea to skimp on coverage in order to save money. There are a lot of situations where someone dropped collision coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The proper strategy is to purchase plenty of coverage for the lowest cost, but don't skip important coverages to save money.

Affordable Mitsubishi Lancer insurance in Toledo can be purchased on the web in addition to many Toledo insurance agents, and you need to price shop both in order to have the best chance of saving money. A few companies may not provide the ability to get a quote online and many times these small, regional companies work with local independent agencies.

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