There is nothing quite like driving your car and knowing that you paid less on your car insurance. For those who are looking for ways to reduce their car insurance rates, below are some tips for you.
Ideally, the one who gets the lowest insurance rate is a mature female, driving in a four-sedan car equipped with the latest anti-theft devices, 800 credit score and above, and a squeaky-clean driving record for like 30 years. Undoubtedly, if you are, then expect car insurers to give you the best and lowest insurance rates on earth!
The reason is quite simple; it is what the actuarial tables are showing to the underwriters. This person will have the lowest risk of an accident and that filing an insurance claim is highly unlikely. Insurance companies love people when they do not file a claim; it is how they make money. The more like her, the better.
The problem with the majority is that it is virtually impossible for them to be like her. We drive cars with fewer safety features, citations and traffic violations once in a while, and our credit score bounces on and off. It is a bit tricky for most of the “normal” guys, which ends up the need to compare insurance quotes from different insurance providers just to get the lowest cost.
There is no shortage of comparison websites today. In fact, it is relatively easy to get multiple insurance quotes, and is currently the “best” way to find who is offering the lowest price in town.
Using Online Search
As mentioned earlier, anyone can get his car insurance in mere minutes. You just login to the website, provide personal information about you and your car, and in minutes you have your insurance quotes. However, you should remember that it is just a quote and is far from being an offer. In the end, you would need to talk to an insurance agent, who will evaluate your application further using the actuarial tables and company policies.
Undeniably, using comparison websites will speed up the entire process of determining your insurance rates. The whole thing is about giving you the initial idea of how much, based on the information you provided, you are going to pay. Once you have the insurance quotes with you, it is always best to contact them individually to discuss the quotes. As they say, insurance remains a “people-based” business.
Do You Haggle?
Haggling is a norm in other countries but not in the US except at garage sales and flea markets. But, that does not mean you cannot do that with your insurer. It is worth a try. Everyone knows that the auto insurance industry is a cutthroat business. Having said that, why not ask for better rates and do not be afraid to compare one insurer to the other. Tell them that Company A is offering for a much lower rate with exactly the same coverage. Most companies will negotiate but if they remain steadfast, then move on.
Newcomers
Insurance is a pre-need plan and we pay for the things that we do not even want to happen anyway. Most of the time, we chose the oldest and most established companies for a simple reason that we do not want to deal with financial issues in the future, because our “new insurance” guy could not pay for our claims. There are always exceptions to the rule, so why not check the newcomers this time. For all you know, most new players frequently offer discounted rates to compete with the rest.
