Auto insurance is something that most of us only choose to shop for maybe once every year or two. Usually, we do so either when buying a car or when we see a TV commercial and decide that it may be time to compare rates from different insurance companies.
When looking for the best deal on car insurance, it is a good idea to not only to consider quotes from multiple companies: you should also look at this as the perfect opportunity to review whether the coverage that your current policy has is adequate, insufficient, or overkill.
Comparing auto insurance rates, of course, is only possible when you are able to compare apples-to-apples (comparable) quotes from multiple companies. In order to do this, it is a smart idea to start by carefully examining your coverage needs – both the required and optional ones.
If you want to make auto insurance rate comparisons to find the best rates, here are 5 guidelines that can help save you money:
1. Find out your state or municipality’s minimum coverage requirements:
The state, province, or county in which you live has likely established some guidelines or requirements concerning the minimum coverage you need to buy in order to drive legally. In most cases, this comes in the form of liability insurance.
Liability insurance is the type of insurance coverage that pays for the other party’s medical bills and property damage should you be the one to cause an accident. Coverage limits are usually quoted at a per accident/per person rate. Check for the limits in your area to be sure you are buying at least the minimum-required amount.
2. Understand the various types of coverage available to you:
In addition to liability insurance, you should probably purchase other types of insurance. Namely, consider buying collision coverage (covers your property if it is your fault), medical payments coverage (covers your medical expenses if it is your fault), and uninsured motorist insurance (covers your medical and property expenses if it is their fault and they are uninsured).
3. Choose appropriate coverage limits:
As mentioned above, coverage limits in policies are usually stated in terms of per accident/per person. For example, coverage limits for medical payment coverage for a give policy may be stated as: $ 300,000/$ 150,000. Make sure you do not just buy the minimum coverage limits unless that is truly all you can afford. Otherwise, you could end up either inadequately covered yourself or being sued by the other party (if the accident is your fault) for inadequately covering them.
4. Create a list of at least 3-4 insurers:
Now that you have an idea for your desired coverage types and limits, it is time to create a list of 3-4 insurers. Do research to look for insurers that advertise themselves as low-rate auto insurers.
5. Shop around by getting apples-to-apples quotes:
As you shop around, be sure to ask for identical policies in terms of coverage types and limits so that you can easily compare quotes.
Consider these 5 tips as you conduct an auto insurance rate comparison.
Image from page 8 of “Wilmington up-to-date : the metropolis of North Carolina graphically portrayed” (1902)
Image by Internet Archive Book Images
Title: Wilmington up-to-date : the metropolis of North Carolina graphically portrayed
Year: 1902 (1900s)
Authors: Isaacs, I. J Wilmington Chamber of Commerce (N.C.)
Subjects: Business enterprises
Publisher: Wilmington, N.C. : W.L. De Rosset, Jr., printer
Contributing Library: University Library, University of North Carolina at Chapel Hill
Digitizing Sponsor: University of North Carolina at Chapel Hill
Click here to view book online to see this illustration in context in a browseable online version of this book.
Text Appearing Before Image:
comes here will find everything provided for the successfuloperation of his enterprise and a helping hand will be extended him byevery citizen of the community. In brief, some of the general advan-tages of Wilmington are : 1st. It is located on one of the most fertile and productive regions ofthe United States and one of the most thriving sections of the South. THE CITY OF WILMINGTON. 2nd. It possesses admirable railroad facilities, connecting it directlywith the entire country and opening up all parts for its products andfor obtaining raw material. 3rd. // has a good system of steamboat lines, which ply on the waterways tributary to this port, bringing here from adjacent territory agri-cultural and other products, returning with merchandise to supply thewants of these localities. 4th. It has ocean communication with all parts of the world andtwo regular lines of steamships to New York, bringing the city intoclose and intimate contact with the principal ports of the Old and NewWorlds.
Text Appearing After Image:
ARMORY WILMINGTON LIGHT INFANTRY. 5th. It is in direct and contiguous connection both by land and waterwith the great lumber and bituminous coal regions of this and adjoin-ing states. 6th. // has a complete system of electric cars in operation. The cityis well lighted with gas and electricity and is efficiently policed andguarded against fire. The fire department of the city is particularlyefficient, securing to residents the lowest insurance rates. 7th. The local government is now based upon strict ideas of econo-my consistent with safe and secure progress and the spirit of the peo-ple is decidedly in favor of every measure to make the rate of taxationlow, while at the same time, all real improvements are well supported. 8th. The public school system is among the best in the South and af-fords excellent opportunities and facilities. The social advantageshere are numerous, the tone of society healthy and the general morals THE CITY OF WILMINGTON of the community will compare favorably
Note About Images
Please note that these images are extracted from scanned page images that may have been digitally enhanced for readability – coloration and appearance of these illustrations may not perfectly resemble the original work.