Looking for a good deal on your auto insurance? Rule number 1: shop around.
Shop Around
Just as you would before buying a new television, or even a new car, shop around and see what is out there to choose from. Every insurance company is different. They serve different people, handle a different number of claims and stand to make different profits each year. The best idea is to check with as many insurance companies as possible to see if you are getting the best deal, or if you could maybe do a little better.
Re-Check Before You Re-New
Most insurance analysts suggest car owners do a policy search every six months. Before you renew your insurance with the provider you have always used, don’t be afraid to ask around and see of someone else can get you a better deal. It is not uncommon for two different insurers to offer two vastly different rates for the same driver based on the same information.
As the consumer it is incumbent upon you to make certain you are getting the very best deal and the only way to do that is to compare prices.
Yes, several different insurance companies offer online comparisons with their closest competitors, but these are hardly all-inclusive. There are literally hundreds, thousands, of different insurers available for you to choose from.
Understand How Your Rate is Calculated
It is important for you to understand rates are also based on the extent of your coverage. How much you pay will depend a great deal on what it does for you. Liability, property damage, accidental death, there are a whole host of choices when it comes to coverage. Choose only the coverage you need and can afford and which is within the realm of legal requirements for your state.
The Deductible
Another big factor when it comes to your insurance rate is your deductible. The bigger your deductible, or out of pocket expense, the lower your premiums. You can reduce your premiums a great deal by increasing your deductible, but if you have an accident you could end up paying a lot of money out of pocket. Changing your deductible as little as $500 can save you a lot of money each year in rates.
Compare Companies, Not Just Rates
Consider doing your comparison shopping online. There are a multitude of sites which make comparison shopping for insurance simple. And don’t forget. Many insurance companies offer discounts for an assortment of security and safety features.
Before you settle for the same rate you have been paying for years, make yourself your own best friend and comparison shop. You could end up saving a whole bunch of money.