You can find some of the best and most affordable car insurance policies online! All you need is a little research and an easy way to shop around. Here are some tips to help you.
This is my number one tip for shopping car insurance online. There are many online comparison tools to help you compare car insurance rates. Car insurance websites can give you quotes from many different insurance providers. Comparing quotes is an easy and efficient way to see different rates offered by companies with similar coverage.
Assess Coverage Needs
Decide the type of coverage you need based on your specific driving needs and family circumstances. Some things to consider are the make and model of your car, along with the year it was manufactured. Think about your driving history. Have you had any accidents in the past 5 years? Will the coverage include young drivers? This will determine the type of coverage you need.
Understanding the different types of coverage is also a huge factor in choosing car insurance with.
Here are some common types of coverage…roadside assistance
- uninsured/underinsured motorist
- personal injury protection (PIP)
Set the Right Deductible
Your budget is a big determining factor in your search so make sure you understand what your deductible will be.
A Deductible is the amount you’ll pay out of pocket before your insurance pays out. A high deductible usually means you get a lower premium. Your premium is the price you will pay every month to keep your coverage active.
*Pro Tip: I like to set aside money in a separate account to cover the deductible, just in case I need to file a claim.
Check for Discounts
Reduce your premium by checking for discounts. For example, you can qualify for discount car insurance if you are a safe driver, have been driving for a long time, or you may be insuring multiple cars.
I saved a bunch of money when I switch my car insurance and bundled it with my home insurance.
Read Customer Reviews
When you are reading reviews for a particular insurer, take note of how many stars the company has and their reputation. I always skip to the worst reviews with one star so that I can be aware of how they handle claims and customer satisfaction
The Importance of Gap Insurance
Guaranteed Asset Protection insurance, (GAP) covers the difference between the amount owed on a car and the actual cash value (ACV) of the vehicle. It is primarily designed to protect drivers from financial loss in case their car is totaled or stolen when they owe more on their auto loan or lease than the car’s current market value.
Maintain a Good Credit Score
In many regions, insurance companies consider your credit score when determining your premium. Maintaining a good credit score can help you secure better rates.
Ask for Recommendations
Seek advice from friends, family, or colleagues who have had positive experiences with their car insurance providers. Personal recommendations can be valuable in selecting a reputable insurer.
Review and Update Annually
Car insurance rates can change over time, so it’s essential to review your policy annually and make adjustments as needed. As your circumstances change (e.g., getting married, moving, or buying a new car), update your coverage accordingly.
Consider Local and Regional Insurers
While national insurance companies are well-known, don’t overlook local or regional insurers. They may offer competitive rates and personalized service.
Check for Special Programs
Some car insurance companies offer special programs for certain groups, such as military personnel, students, or members of specific organizations. See if you qualify for any of these programs to obtain additional discounts.
Remember, the cheapest insurance may not always provide the best coverage, so strike a balance between affordability and adequate protection. Take your time to research, compare options, and ask questions to make an informed decision about your car insurance.