Even as you read this article, people are wizening up to the need for them to collect multiple insurance quotes, compare, and then make an informed decision. Applying for multiple quotes is one thing, settling for the cheapest one is another, and choosing the one that will deliver the best bang for the buck in the long run is another.
You will soon learn the secret to picking the one that’s best for you, and your applications. Insurance quotes are feely available and you should definitely consider at least five to six quotes. Now what’s left is to analyze the quote you have received. First things first, make a list of pros, and cons of each quote, go through the fine print, its got a lot of important information you need to know about. No one likes going through the fine print of so many policy documents, however it is imperative, not only to help you find the best deal, but also to help you know what is the exact coverage you have, which can prevent ugly shocks when you meet with an accident.
Beware of sales representatives, they work on a commission basis and the plan that he suggests as the best for you, might in reality be the best for him. They earn a commission on each policy that they sell, and the higher the premium, the higher his commission. It’s not uncommon for them to advise customers to go in for their policies through a company who pays him a higher commission. So basically what you need to do is, study the facts for yourself, and then judge what he is saying. Never shy away from asking for a discount, insurers offer a wide variety of discounts to a lot of groups of people, like army veterans, or even teachers.
Then what you need to do is to sit down and compare the features covered in each quote, the price you will be paying for them, and of course, the extent of the coverage.
Features: Study the features to a great extent, most auto insurance companies will offer you similar features, but there are minor differences. Only take into consideration features you actually need, evaluate the possibility of you ever needing that cover, if it feels necessary, go for it.
The most popular is liability insurance, which will cover you from any damage to yourself or your vehicle. This is pre-decided with your insurer at the time of signup. What most experts’ advise to get your self a good healthcare plan, thereby opposing the need to opt for medical cover in your liability insurance!
Another popular option is comprehensive insurance, and it covers damage from non collisional accidents, and natural calamities too.
Price: This is the deciding factor for most customers, however it’s not all you should look at, also consider payment plans. Paying the premium in installments attracts fees and in some cases, an interest; paying the entire premium at one go negates these charges, and thus drops your total investment amount. Depending on if you have the cash available or not you make a one time installment and save a few dollars, or pay over the course of a few months and pay a little extra, make this decision based on your financial state of affairs. Many insurers also give out a discount to people who take premiums for longer tenures, as they are assured of your business.