Here’s some news you likely didn’t know: you’re probably spending too much on auto insurance every year! Recent polls show that nearly a third of Americans are not satisfied with their current car insurance rates. So, here’s a quick and easy guide to finding the perfect new insurance policy!
1. Look Up The Minimum Requirements
You cannot start shopping for auto insurance without first understanding your needs – and the legal requirements! So, begin by looking up the minimum insurance requirements for your state, including rates and types. Then, consider the main types of coverage and determine their importance to you: bodily injury liability, property damage liability, personal injury protection, and uninsured/underinsured motorist protection. Most states only require bodily injury and property damage liability; however, based on your driving record, you may desire others.
Once you know what type of car insurance you’re looking for, it’s time to compare policies!
2. Take Your Time In Comparing
Never purchase the first policy you see! Always compare prices and policies by receiving quotes from at least three insurance companies, if not more. While this will undoubtedly take some time and patience, the work will earn you some real savings. When comparing car insurance policies, make sure to have your notes about state and personal requirements handy!
If this is your first time, here’s a simple way to begin. First, take a look at the major companies that interest you and learn about them. Then, after eliminating any that do not meet your stands, reach out for a quote. To request one, you’ll likely need the vehicle’s VIN, the year, make, and model of the car, and your driver’s license number. Then, compare the quotes and companies!
3. Truth Doesn’t Hurt
Believe it or not, a reported 10% drivers say they feel like they should like about vehicle information while purchasing auto instance. It might seem hard to tell the truth about milage, drivers, and driving history, but it is imperative! If the company ever uncovers that you lied on insurance documents, you are likely to be billed with all repair costs from the beginning of the policy. Not only that, but insurance companies often take such liars to court. A terrible situation for anyone and everyone involved, to say the least. So, when purchasing car insurance, tell the truth!
4. Ask For A Discount
Nope, insurance salespeople will not shame you for asking for a discount! In fact, more often than not, they’re likely willing to try and find one for you! Just make sure to ask in a polite tone and prepare for the fact that there may be none. However, discounts do exist for many professional organizations, so its always worth asking! Also, some bundles are cheaper, and you can often save money by paying more upfront or in bulk payments.
Picking good, applicable and suitable car insurance can save you around $900 annually! So, make sure your auto insurance is working for you – and if it’s not, shop for a new policy!
Sources: BusinessInsider, Finance101