How Do I Find the Best Auto Insurance Rate?

By Compuquotes Team on March 27th, 2008
Auto Insurance

It is not that difficult to find the best auto insurance rate that you can have, but it does take some time and some patience. If you purchase an insurance policy without doing some research first, you could be making an expensive mistake.

First things first-you need auto insurance quotes, at least three of them to compare against each other. When you go to different insurance companies or agents for quotes, be sure that you are giving them the same information on your vehicle and that you are asking for the same levels of insurance. The levels, deductibles and limits on your insurance should be the same throughout your quotes-a slight change in any of these categories can be hundreds of dollars in price difference and affect the level of insurance that you have.

When you are talking to the insurance agent, inquire about discounts that are available. Auto insurance discounts are broken down into three general categories: policy related discounts, vehicle related discounts and driver related discounts.

Policy related discounts

Choose your insurance coverage carefully. If you own an older vehicle, it's probably not necessary to have comprehensive or collision coverage-in most cases, you would pay more for the insurance in a year than the car is worth. You can also choose a higher deductible for the coverage that you choose, which can translate to some big savings, especially if your vehicle is never involved in an incident.

Many insurance companies provide multi-vehicle or multi-policy discounts. By taking all of your insurance policies to one place, for your vehicle, home and life insurance, or any combination of those, you could save a lot of money for multi- policy discounts.

Vehicle related discounts

Research the vehicle before your purchase one-insurance agencies assign ratings to vehicles based on their history of collisions, injury claims, theft claims and other factors, such as crash test ratings. The higher the rating for the vehicle, the less expensive your insurance will be. Subsequently, the lower the rating on the vehicle, the more you can expect to pay for insurance.

Taking some preventative measures for your vehicle may also decrease your insurance premiums. If you protect your vehicle from damage and theft, by opting into anti-lock breaks, air bags, alarm systems or other security devices, you could significantly decrease your premium.

Driver related discounts

Keep your driving record clean and you will save money on your insurance. The more experienced you are as a driver and the more careful you are, the less of a risk you are to the insurance companies, which will translate to a lower premium.

How you drive your vehicle is also a factor in your insurance rates. If you use your car for work and commuting each day, your premiums will be higher. Car pooling with other coworkers can decrease your auto premium, as there are car pool discounts available. You can also lower the mileage you put on your car in a year to help save on your insurance.

There are many ways to lower your insurance rate, but asking your insurance agent about discounts is the best way to go. Most of the savings you will find come in the form of a discount, even though they are mostly related to choices you make.

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