How to Compare Insurance Rates Easily Online
Whether you’re on the market for a new or used car, or you have just purchased a new vehicle, you’ll need car insurance to legally drive it. Instead of just jumping at the first deal you find, it is a better idea to compare various quotes online to see who offers the best deal.
Find the Lowest Premium
When comparing auto insurance policies, obviously the first thing to look at is the lowest premium.
However, to get a true comparison of what company offers the best deal, make sure you’re comparing the exact same coverage types and amounts from company to company. For instance, if you go for more than the state mandated minimum, with rental and towing coverage, make sure all quotes include it–or you could falsely get into a cheaper coverage that lacks what you’re really shopping for at the moment.
Companies will look at more than the coverage amounts and types you are asking for in order to determine your rate. Insurance companies will use things such as:
- Your age: If you haven’t been driving long, your age can work against you.
- Gender: Women are typically charged less, because they are less of a risk to the insurer.
- Marital status: Married drivers tend to get cheaper rates.
- Credit score: The better your credit score, the lower your rate.
- The car you drive: Newer cars cost more, sports cars cost more.
- How long you’ve had your driver’s license: More experienced drivers get lower rates.
- Your driving record: Safe drivers get lower rates.
- Where you live: Where you’re driving your car factors into your rate.
- The main use of your car: If you’re using your car for work or school, your rate will be different than if you’re using it for a courier service.
- How much you drive the car: The more miles you put on it, the more chance you’ll be involved in an accident, and the higher your rate could be.
- The number of people on your policy: Insuring more drivers typically means a higher rate.
- The deductible you choose for your policy: The higher the deductible, the lower the premium.
Look Beyond Price
While the lowest premium may seem enticing, it’s important to look at more. If you’re comparing the exact same coverage types from company to company, such as the state mandated minimum, then the lowest priced coverage could be the best value. However, if the company hasn’t been in business long, or is full of consumer complaints, is the value it offers still there compared to the slightly more expensive company, with the better reputation? Here are things to look for beyond price to determine which company to purchase your auto insurance coverage from.
- How long has the company been selling auto insurance? The longer a company has been in business, typically the more trustworthy it is.
- What do consumers think about the company? Google the company with the words “scam” or “complaint” to see what people really think about it.
- What is the customer service like? Did you have a pleasant experience getting a quote online or over the phone? If not, this could be an indication of what it is like as a customer.
- Is there a local branch you can visit and talk to an agent in person? If not, how do you handle making a claim if you need to?
- Will your policy be canceled if you miss a payment, causing a lapse? Some companies send a late notice, and others require two months up front to prevent a lapse if your payment is late.
- Are the discounts this company offers comparable to the competition? Discounts vary from company to company–and you may not be getting the best possible deal.