5 Things to Remember When Shopping for Car Insurance
October 9, 2009
You can save money on your car insurance if you are willing to invest a little bit of your time searching and comparison shopping.
The first thing you need to do is get at least six quotes for the sake of apples to apples comparison. When comparing your quotes, make sure that the coverage amounts being quoted are the same from company to company. One way an insurance company can make their quote less is by offering less personal liability coverage or higher deductibles.
Make sure to buy the coverage level suitable to protect your assets. The minimum coverage is not typically enough if say for example you own your home. You may find that there is not a big difference in price for $500,000 in coverage versus $300,000.
The following are a few reminders when shopping for car insurance;
1. Compare the insurance coverage that are being quoted to ensure you are comparing apples to apples.
2. Make sure that you give the same information regarding your driving history to each company that you seek a quote for. They will want to know if you have had any traffic accidents in the last 5 years or any traffic violations in the last 3 years.
3. Make sure that the insurance company is trustworthy. They should have an A or A+ rating. The payment of any liability claims against you may depend on this rating.
4. It doesn’t hurt to let the Agent know that you are shopping other companies as well.
5. You can shortcut the time it takes to get quotes but going to one of the websites that will do the comparison shopping for you. Just make sure that it is an independent broker, not someone whom works for one particular insurance company.
One last thing to keep in mind is that you should shop for new insurance every year at least 30 days prior to your renewal date to ensure that you have the best coverage at the lowest price.
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