Tips on How to Compare Insurance Companies

When it comes to purchasing big ticket items, it’s always a good idea to shop around before making a final buying decision. It’s equally as important to compare insurance companies before buying your first policy or renewing your existing coverage on your vehicle. Although many policy holders don’t realize that annual insurance premiums are in fact a big ticket necessity that must be paid, or else forego the privilege of driving. So, what should you keep in mind while preparing to compare insurance quotes for your car?

Plan to spend some time devoted to the task of comparing insurance companies. Although many companies provide online quotes that calculate results within minutes, others may take a little longer sending a reply to an inquiry via e-mail or a phone call. While there’s no set industry standard in comparing auto insurance for a vehicle, it’s a recommendation to receive a minimum of five quotes from various insurance companies.

Comparing Insurance as a New Driver

If you’re looking to compare and save on insurance quotes as a first-time customer, ask the agent if you’re eligible for any discounts or special promotions on car insurance. Remember factors such as the make, model, and year your car was manufactured into your rates. When comparing insurance companies, also be prepared for your driving record to be subject for review.  Any serious infractions usually cause premiums to be more expensive. Rates also vary according to age and geographical location.


sql server 2008 tutorial


Comparing Insurance Rates as a Current Policy Holder

For existing policy holders considering changing providers, an optimal time to compare insurance premiums is a couple of weeks before the renewal date of your current auto coverage. Be sure to allow enough time to do your homework on matching insurance quotes and purchase the new insurance policy before your existing auto coverage expires. It’s essential that you don’t allow your current insurance coverage to lapse, especially in the event you’re responsible for an accident.

Also, if you have existing car insurance coverage and plan to compare auto rate, if you find a cheaper deal, read the small print in your current policy of insurance to see if you’ll be required to pay a cancellation fee. While you have the right to cancel your policy anytime you want, insurance companies have the right to apply a short rate cancellation provision. The fees may add up to 10% of your annual premium, and be applied while comparing companies and decide to switch coverage within 6 months of purchasing the policy. For those that pay their premiums on an annual base, the insurance company is responsible for refunding the amount of the unused policies, minus any applicable cancellation fees.

Although the task of comparing insurance quotes requires some time, the effort is well-worth navigating the labyrinth of premiums and policies!

Related Links to Compare Insurance Companies:




Comments are closed.