The recommended time to start evaluating new insurance policy proposals for your car is 30 or 45 days before it expires and you must renew your current policy (or approximately every two years). So you can learn about multiple coverage options and insurance companies without the pressure of making a hasty decision.
The amount of the fees changes from one insurer, company to another. If you spend a few minutes analyzing this data and comparing different offers, you may find discounts or you may feel more comfortable continuing with your current rate.
What information influences your insurance premium?
- About the drivers: Date of birth, driver’s license number, dates of all accidents and traffic violations in the last 3 years (some companies require up to 5 years). Do not omit any of this information, because the company will still obtain a driving report from you before you buy the policy, and your rate may vary even if you only forget to give the information of a fine.
- About the cars: Year and model of the car. For the purposes of coverage, it also matters if you have installed any additional devices (with their respective value) after purchasing them. This includes tires, alarm systems, upholstery and paint.
- About previous insurance policies: Name of previous insurance company (not agent) and policy renewal date. Remember, before obtaining the new policy, carefully analyze and review the old one so that you do not miss any coverage to include.
- About the limits of coverage: Start with the same as you have so far, choose the coverage of “Bodily injury” and “Against damage to property of third parties” (in addition to the “Protection for personal injury” if you reside in a state with insurance laws “no fault ”). However, you should always worry about knowing how many protections you should purchase.
- About deductibles: Most people select $ 250 or $ 500 deductibles for all-risk and collision protection. You must know what you have now to be able to make comparisons.
- About discounts: You should know which discounts you are enjoying so far and think of others that could help you save more. For example, the low mileage, the safe driver, the hybrid, the good student and so on. If your current insurance company does not favor you with any of these advantages, look for others that fit your profile.
How do you compare auto insurance rates?
You must compare the terms and deductibles that you have so far. Knowing what you pay now, you can ensure that you will get a rate with the same coverages and deductibles. If there are small differences, make sure you know what the causes are.
Adjust the terms and deductibles to see how the fees change. Try buying more coverage, to see how much the rate increases. In other words, the same coverage with the same deductibles. With some companies you save a lot by selecting the $ 500 or $ 1,000 deductibles, but if you only save 10% or 15% they are not worth it.
You have to make sure that you are paying for actual insurance premiums, not an estimate. The point is that many companies offer quick rates or rough estimates, but they are not advisable, because it may happen that you buy an estimate and then the rates change.
Learn to do these procedures online, so you will save time. Although many people are predisposed to the use of the Internet for commercial matters, we have to reaffirm that the most prestigious insurance companies of today allow these analyzes to be easily carried out on their Internet pages. Policies can also be purchased online or over the phone. There is no need to complicate these processes, if digital media greatly facilitate them.
Are you ready to select your auto insurance quote?
Start by looking for the best companies and checking rates online. Make sure that the fees correspond to your current coverage, with the same terms and deductibles. If you have doubts or questions, look in the FAQs and in the online chats.
Talk to your family and friends. Ask people you trust which insurers they prefer and where they bought their latest insurance policies. Also ask how they have been treated in case of lawsuits. In the end that is more important than saving money.
Little by little, reduce your options and compare the details. To buy an auto insurance policy, you must compare rates, coverage, and payment plans. You should also find out about the reputation and financial stability of the companies you are considering. If you do not know any of these companies, you can search for information about them on the internet, there are hundreds of auto insurers in each state.
Buy your policy with a company that you trust. When you have taken the time to find the best auto insurance rate, you will be happy with your selection, especially if you perceive that you are saving.