How to Compare Auto Insurance
Know when to compare quotes., Gather the necessary information., Understand car insurance terminology., Visit a comparison website., Talk to an agent directly., Use the insurance report from a state agency.
Step-by-Step Guide
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Step 1: Know when to compare quotes.
Look for a new quote if your financial or personal profile has changed in a significant way.
When you get a policy renewal notice take that as a sign that you should investigate your options.
Or, if you have put it off, make sure that you compare prices every two years or so.A life-changing event could be a change in your driving record due to an accident or ticket, getting married, adding a new driver, etc.
If you decide to create a new budget, don’t forget to include insurance costs.
Looking around for a better deal should be part of the process.
Investigating every few years at a minimum will allow you to see what new companies have to offer.
It may also get you an additional age discount. -
Step 2: Gather the necessary information.
Most insurance companies will require certain documents testifying to your personal and financial status.
You will likely need to provide your social security number, birth date, driver’s license number, all vehicle information, all driving record information, information as to your driving habits, and proof of current insurance coverage.You will need to provide this information for all drivers who will be covered and for all cars on the policy as well.
Some auto insurance companies have more lenient documentation requirements.
If you are uncomfortable providing some of this information an agent may be able to present you with more options. , Get familiar with the major terms by researching online and by talking with folks in the insurance industry, such as agents.
Don’t worry-you will not need to know everything, but getting a handle on the lingo will help you to truly understand the quotes that you will get.Liability insurance protects you in case someone outside of your covered household is injured or damaged as the result of a collision or accident.
It will cover the necessary payments to them.
This is a minimum level of coverage.
Comprehensive insurance protects your vehicle from more extensive damage.
Collision insurance covers your vehicle in the event of a collision.
Your deductible is the out-of-pocket amount that you will owe your insurance if you file a claim.
As deductibles go higher, premiums usually drop. , There are many website available that will allow you to enter in your information and receive instant quotes.
Some sites make it possible for you to instantly comparison shop by placing quotes and companies side-by-side.
This is a good option if you want a quick way to see if you should conduct a more in-depth rate search.
Be aware of the transparency of auto comparison sites and how they make their money.
Some sites may steer you toward certain options (not always the cheapest ones) or they may omit certain companies form the overall comparison., Go to one of the comparison sites and type in your information to have an agent contact you.
Look up your local agent on an insurance company website.
Call one of the insurance agents listed in the phone book.
Be prepared to spend a little bit of time talking with them about your options.
Tell the agent the kind of coverage that you are interested in and how much you’ve been quoted before.
You might say, “Right now I have a quote for $420 a year, do you think you can beat that? Even with the same level of coverage?” If you go to your state’s insurance page you might also see an ‘agent finder’ program that you can use., Many states gather information regarding premiums and coverage.
They post this information on a searchable website along with some general tips.
This is another good place to start if you want more information about minimum requirements in particular. -
Step 3: Understand car insurance terminology.
-
Step 4: Visit a comparison website.
-
Step 5: Talk to an agent directly.
-
Step 6: Use the insurance report from a state agency.
Detailed Guide
Look for a new quote if your financial or personal profile has changed in a significant way.
When you get a policy renewal notice take that as a sign that you should investigate your options.
Or, if you have put it off, make sure that you compare prices every two years or so.A life-changing event could be a change in your driving record due to an accident or ticket, getting married, adding a new driver, etc.
If you decide to create a new budget, don’t forget to include insurance costs.
Looking around for a better deal should be part of the process.
Investigating every few years at a minimum will allow you to see what new companies have to offer.
It may also get you an additional age discount.
Most insurance companies will require certain documents testifying to your personal and financial status.
You will likely need to provide your social security number, birth date, driver’s license number, all vehicle information, all driving record information, information as to your driving habits, and proof of current insurance coverage.You will need to provide this information for all drivers who will be covered and for all cars on the policy as well.
Some auto insurance companies have more lenient documentation requirements.
If you are uncomfortable providing some of this information an agent may be able to present you with more options. , Get familiar with the major terms by researching online and by talking with folks in the insurance industry, such as agents.
Don’t worry-you will not need to know everything, but getting a handle on the lingo will help you to truly understand the quotes that you will get.Liability insurance protects you in case someone outside of your covered household is injured or damaged as the result of a collision or accident.
It will cover the necessary payments to them.
This is a minimum level of coverage.
Comprehensive insurance protects your vehicle from more extensive damage.
Collision insurance covers your vehicle in the event of a collision.
Your deductible is the out-of-pocket amount that you will owe your insurance if you file a claim.
As deductibles go higher, premiums usually drop. , There are many website available that will allow you to enter in your information and receive instant quotes.
Some sites make it possible for you to instantly comparison shop by placing quotes and companies side-by-side.
This is a good option if you want a quick way to see if you should conduct a more in-depth rate search.
Be aware of the transparency of auto comparison sites and how they make their money.
Some sites may steer you toward certain options (not always the cheapest ones) or they may omit certain companies form the overall comparison., Go to one of the comparison sites and type in your information to have an agent contact you.
Look up your local agent on an insurance company website.
Call one of the insurance agents listed in the phone book.
Be prepared to spend a little bit of time talking with them about your options.
Tell the agent the kind of coverage that you are interested in and how much you’ve been quoted before.
You might say, “Right now I have a quote for $420 a year, do you think you can beat that? Even with the same level of coverage?” If you go to your state’s insurance page you might also see an ‘agent finder’ program that you can use., Many states gather information regarding premiums and coverage.
They post this information on a searchable website along with some general tips.
This is another good place to start if you want more information about minimum requirements in particular.
About the Author
Raymond Palmer
Enthusiastic about teaching crafts techniques through clear, step-by-step guides.
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