How Do I Compare Auto Insurance Companies?
You have to like your insurance company or at least the person fronting for the insurance company. That’s a basic foundation to getting better rates. If you want to compare rates consider comparison websites vs. the standard company site. Once you find a company that suits your needs then check the following:
- Reputation and standing in the insurance industry
- Reputation for approving claims
- Willingness to discuss your budget and concerns
- Technical differences in the quotes you collect
- BBB ratings and consumer satisfaction ratings
It is important though to remember that:
- Not all cheap motor insurance quotes are better. You still need to focus on value for money
- Relatively new insurance companies are willing to undercut the larger companies for a piece of the market but you will have to take a chance that they will perform well over time
While there’s nothing wrong with cheap motor insurance, going overboard and spending the least possible amount on your car’s insurance can be disastrous. A moderate balance must be achieved so you pay within your budget but still get the most out of your plan in case of an incident that would require you to file a claim.
How To Find Cheap Motor Insurance Quotes
Everyone wants a good deal on motor insurance mainly because it is something that is not so impossible to find – if you know how to and you’re willing to put in some time. The most daunting part about finding cheap motor insurance is getting over your fear of not knowing certain industry terms. Once you are familiar with the concepts, it’s relatively easy to talk insurance with anyone including the experts.
Finding the cheap auto insurance quotes is not hard because of the Internet. All you have to do is input your zip code in the convenient box found on every insurance website. The quotes will appear in seconds although these are very rough estimates. The second step is much more challenging as you start to add in more detail. This is the stage that gets confusing and can frustrate you with complex terms and all the add-on options.
The best advice for you is to work with tables to compare the different quotes. To do this, you must decide on your budget, insurance features, and forget about other add-ons. That can come after you have settled the basic package.
Tips From The Professionals
Every insurance company has a group of actuaries. These are professionals who crunch the numbers and information you submit to their insurance company when applying for a motor insurance plan. Being an actuary has actually become the number one job in 2013 in terms of income, physical demands, stress, environment, and employment outlook. They decide how much premium to charge you. They look at the following factors:
- Your driving history
- Your personal demographics such as age, address, income
- Your car: year, model, and brand
Here’s what they would say to you if they were to advise you about cheap motor insurance:
- Never assume you have the best deal. It is important to always be open to switching
- Don’t wait last minute to work on the renewal of your car insurance
- Never withhold information about changes in your status and circumstances as a driver and car owner
- Try not to modify your car if your primary goal is cheap car insurance
- Never sign up for auto-renewal
- Double check the quotes you receive; mistakes happen
- Check lock-in dates of quotes
How To Get Multiple Auto Insurance Quotes
Assuming you have more than one vehicle, you might want to throw in your other vehicles as an incentive to get discounts from the insurance company. Multiple insurance is an excellent way to bring down your costs and it’s done all the time. The basic requirement is that the vehicles are registered at the same address although many insurance companies are willing to consider cars owned by children in college or who live elsewhere.
To get the multiple quotes, inform the insurance agent that you would like group insurance. This is applicable to 2 or more vehicles. Insurance companies will even allow for motorcycles and other types of road vehicles. You can even request for special discounts if you get buy other types of insurance from the company such as life, health, or dental, among all others.
The advantage to multiple auto insurance is that you only worry about one renewal date. Since your existing vehicles probably have insurance, renew the one that is due and then add on the other cars when their renewal date is near. The discount will be applied to every new vehicle added to your plan.
How Do I Find The Cheapest Car Insurance?
There are fixed and variable costs to every insurance plan. To get the cheapest car insurance, you can work with the variable costs like the deductible, lowering your mileage, changing your sports car to a sedan, avoid switching cars with family members especially teenagers, and being a low risk driver or someone with a clean driving history.
If you can start with these and inform the insurance company immediately of factors that will work in your favor, you will be able to negotiate for a lower rate. If an insurance agent is unwilling to discuss lower rates, go to another company. The competition between insurance companies is stiff so the chances are high that you will someone willing to work with you and your budget. Of course, keep in mind there are minimum auto insurance requirements for most states.
Resources for comparison: