When it comes to getting an optimal auto insurance quote, it really all boils down to simple data entry and math.
Auto insurance companies look at your data to assess various risk factors, including driving history, credit numbers, and even how many miles you drive to work each day. In the end, the auto insurance quote price reflects this, your coverage levels, and various discounts you qualify for.
As with any math formula, however, altering some variables can significantly change your pricing and coverage quality. In other words, there are many things you can do to ensure you get the best price and coverage possible when shopping for a new insurance policy.
If you’re mission is to simply save money, think about that carefully first. Insurance really is protection for you, your family, and the other person who may be injured if the accident is your fault. Choosing the cheapest auto insurance policy can leave you, your home, and your assets vulnerable if you get into a bad accident or something happens to your vehicle. That $40 you save today can cost thousands tomorrow.
What does Best Auto Insurance mean to you?
If you’re searching for the best auto insurance possible, think about how you define: “best”. We recommend you look at the following:
- Price: Not necessarily cheap, but affordable. Your auto policy should provide enough coverage in case of a lawsuit or major medical bills, but it shouldn’t break the bank to pay your premium every year.
- Coverage quality: Are you and your assets going to be covered in case you cause major damage or injuries to property or people, including yourself? Understand what you need to protect your home and assets.
- Reputation: Is the insurance carrier and company you’re about to contract with reputable? Do they have a reputation of paying claims quickly? You can find out a lot about the company’s reputation by searching online.
- Customer service: Do they have customer service available when you need them? What is the quality of the customer service experience? Do some research first.
- Financial stability: Is the company strong financially? Have you checked their A.M. Best Rating and other financial benchmarking services? Again, online research can make a big difference.
How To Get An Optimal Auto Insurance Quote
There are several ways to ensure you get the best quote possible. First off, an auto insurance policy is a contract so telling the truth is not only encouraged but you can find your coverage can even be waived or cancelled if your company finds that, well, you exaggerated on the information you gave them.
Still, there is a lot you can do to get an ideal quote. Here are seven tips to do so:
- Get your current policy before you enter coverage levels: See what coverage levels you have now and if they’re still up to date. You may need more or less coverage. Less coverage typically saves you more money but when you sign onto a new insurance carrier, you also may qualify for additional discounts that may reduce the cost of your overall premium, but give you more protection.
- Deductibles: Raising your deductible limits can save you money if you can afford to pay them in case an accident occurs. If you have a low deductible and have a good savings, consider raising the deductible to reduce the premium. Finally, if you don’t have a lot of spare cash or a credit card to cover deductible cost, than having a low deductible might be better in your case.
- Get your credit in order: This isn’t necessarily a quick fix to get an auto insurance quote, but paying your bills (on time) and maintaining great credit will usually reduce your costs and make you a more sought after customer for insurance companies. Run an annual credit report and dispute incorrect information to help your score increase.
- Discounts matter: Insurance companies offer a lot of discounts that can reduce your bill by potentially hundreds of dollars every year. Many insurance carriers offer discounts to new customers, bundling your auto and home insurance policies, multi-driver discounts, multi-car discounts, affiliation with certain associations, if you’ve taken a defensive-driving course, if you own a hybrid car, you’re over 55, or if your workplace is really close by. It’s worth talking to an agent even if you go through the online quote process because some of these discounts aren’t readily obvious by just going through an online quoting process.
Compare rates among major carriers through InsuraMatch's secure online quote or by calling InsuraMatch agents at (844) 232-2700.
- Do some basic research: It’s best to know the insurance companies that have solid reputations, which service your state, and are rated highly by customers. Just because you recognize the name, doesn’t mean that they are a good company. Read about them and find out what their customers think. If something bad happens, they’re supposed to have your back. Also, check with your state Better Business Bureau to read about any complaints that may have been filed against them.
- Opting out: You might decide that opting out of certain coverages makes sense for you. If your car is on its last legs and you plan to replace it anyway within the next year, perhaps you don’t need comprehensive or collision coverage (assuming there are no state minimum requirements). Obviously, you should consider this carefully.
- Look into state-run low-cost insurance options: Residents below the poverty level in some states, including California, Hawaii, and New Jersey, may qualify for state run low cost, or no cost, insurance programs.
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Additional sources used in this story:
- How to get the best auto insurance quotes (Bankrate.com)
- How to get affordable auto insurance (Edmunds.com)