Whether you are buying only third party insurance or full coverage, the thought of cheap car insurance is appealing. A lack of attentiveness when shopping for your car insurance could lead to a substantial monthly bill, as well as headaches if you need to file a claim.
The average yearly rate of every insurance company differs. The rate of companies also varies based on the state they are located in; for example, a company may be expensive in one state while cheap in another.
The best auto insurance companies are critical in ensuring a smooth customer-insurer relationship. Other factors that are deemed essential to evaluate a company are the average customer experience, customer service, ability to respond to customer complaints, and quote filing and claim filing processes.
The insurance premium:
The insurance premium on your auto insurance depends on the make and the model of the car; the newer the vehicle, the higher will be the premium. The rates for collision coverage do not differ much, therefore, when you want to get insurance for your car, and you cannot afford to pay a lot in insurance buy a vehicle that is inexpensive. You can also consider buy sell car online options through many companies that are operating online
Go to the auto insurance company that gives the highest possible deductible. For example, a company that offers you pay $250 in annual deductible will cost you more as compared to a company that offers you to pay $1000 in yearly deductible. This way you will pay less upfront, but in case of an accident, you'll pay more of the bill before insurance payments are received.
Do your research:
Go through various auto insurance companies’ websites, get their quotes online and contact the salesperson of that company. Study their terms and condition, their policies and premium payment plan. Compare these with quotes with the other quotations that you have received.
Ask your friends and family about the auto insurance policies they have invested in to get a customer side perspective before leaping. Speak to company’s point of contacts and give them specific details about the coverage you want to tell them the lowest quotation that you have received and them if they can go lower than that
If you are hesitant to do all the research by yourself, you can consider working with an agent or a broker. An agent will help you get the best coverage and rate from his/her company while a broker will look around and help you find the best low-cost coverage and rate from many companies. They will charge a broker’s fee but will help you find cheap auto insurance companies.
Find state-run low-cost insurance programs:
Finding low-cost auto insurance does not mean that you stick with big names, you can also look for smaller insurance companies that may beat the lowest offers from the big guys.
You can also investigate state-run low-cost insurance programs. You can avail these inexpensive insurance policies if you meet specific state criteria, such as a certain level of family income, age, etc. You can also cash in on significant life changes to get low-cost auto insurance from companies. The insurance premium is decreed for specific events such as moving to a low crime area or getting married.
Keep an eye out:
Another way to find low-cost auto insurance companies is by keeping an eye on discounts. Insurance companies offer a range of discounts, including lower rates for drivers with short commutes. Some companies even offer a lower premium for retirees and students with good grades or vehicles with safety devices such as car alarms.
In some countries, people over 50 or 55 may also be given lower premium policies if they pass a specific driving course. It differs from country to country, so you may need to find out more about it from your nations insurance institutes.
Many companies also offer bundling insurance policies whereby they provide a discount for purchasing two or more lines of coverage. Some companies also offer group discounts for particular organizations or specific groups. You can grab such discounts to get low-cost auto insurance.
No doubt everybody wants the best value for their auto insurance premium. However, this does not mean that you compromise on the company’s reputation and financial standing. Therefore before you go ahead with buying an insurance policy for your vehicle do your research to avoid common mistakes that people do when purchasing auto insurance.
About Michelle Joe: Michelle Joe is a blogger by choice. She loves to discover the world around her.
She likes to share her discoveries, experiences, and express herself through her blogs. You can find her on twitter: @michellejoe524