Everyone’s looking to save money on auto insurance premiums, but how does one go about it? Start online, the internet is a good place to shop for insurance quotes. Insurance quotes are freely available at no cost, and barely takes any time, requesting ten quotes will not take more than an hour, and no specialized computer knowledge is needed. Head to a comparison website, which will help you compare quotes side by side, so you can compare the cost and the cover provided. To begin with, request ten quotes.
Understand your need
Everyone has their individual needs when it comes to auto insurance, and you should take the time out to find a plan that will suit your needs. You can’t go on the word of the salesperson; he/she is working on commission and will be more likely than not to suggest something to you that will earn them a higher commission. Always evaluate what cover you would need, and to what extent for yourself.
There is a defined state minimum and you need to have at least that much cover, however a little bit more is always beneficial. The amount that is not covered by your policy needs to be paid out of your pocket, so think well and make an informed decision. A higher payment from your pocket will mean a lower premium. You need to evaluate your financial situation and your past record, if saving money is your aim, and you have never been in an accident and the likelihood of you ever being in one is low, then the state minimum should be just fine for you.
Types of coverage you can consider
- Collision cover: Covers repair shop bills for your car up to the extent of coverage that you apply for. Depreciation affects the final payout you will receive.
- Liability cover: Covers from medical bills, funeral bills, and wages in the event that the insured is unable to work for a while due to an injury.
- Comprehensive cover: Covers non collision damage such as acts of vandalism, hail damage, and damage due to other natural disasters. Also covers against damage from backing up into stationary objects like garage doors, and lamp posts.
- Un-insured/Under-insured cover: Covers your expenses if the other driver has no or insufficient cover to pay for the damages.
Comparing cost and cover
The sole ambition is not just a lower insurance premium but long term savings. A lower premium with inadequate cover for your requirement will have you spending much more in the long run. Don’t settle for the company that’s offering you the cheapest premium, go for the company that offers you the best cover for the lowest price. This can save you from not only payouts to your repair shop and hospital but also those of the other driver, and considerable legal fees should there be a lawsuit following your accident. You can also increase deductibles which can help you save in the long run.
Always be honest, never try and hide any blemishes on your record or happenings during an accident, if your insurance company finds out you can end up without insurance and worse still, in jail for insurance fraud. Only take policies from reputed companies that have been in the business for a while.
Asking for Discounts
Insurance companies provide an array of discounts to various groups and people. Armed forces, teachers, students with good grades, all apply for discounts. Ask for any that may apply to you.