Around. While this is time consuming, it's usually well worth the
consumer's time to make some calls and inquiries. The public is usually
not aware of individual insurance companies "growth strategy".
Company A might be raising rates to lower exposure in a market, while
Company "B" may be looking to grow in a certain market.
2. Give the
agent full disclosure of your circumstances. If your driving record
is bad, be prepared for the consequences, not much you can do at this
point. The days of "hoping no one will find out" are over
due to the electronic age. If you have youthful drivers (generally under
25 years old), be sure to disclose this too. Agents typically try to
get you their best price from the start. It is better to get a true
and accurate quote than a "suprise" premium when the policy
3. Ask the
agent coverage questions. A good example of this is "What are
the 'Limits of Liability' on this quote?" Be prepared for
the agent to give you a minature education on auto insurance terms-this
is helpful to you. If you are leasing your vehicle, you may be required
to carry higher limits on your policy.
similar coverages and policies when comparing rates. Don't fall
into the trap of getting quoted state minimum liability limits one one
quote and get higher liability limits quoted on another. The public
often refers to this type of shopping as "comparing apples to apples".
It's a good approach, most insurance shopper should use it.
about Multi-Policy Discounts. Most insurance companies are likely
to give you a better rate if you bring your homeinsurance or life insurance
business over to them. Compare the "Whole Package price" to
see if moving all of your insurance to one carrier is financially justified.
Take a higher deductible. Sharing the burden of a potential claim
is normally a great way to lower auto insurance costs. Considering a
$500 deductible might make more fiscal sense than a $50 deductible.
Make sure the deductible is something you can pay in the event of a
claim since you will certainly need your car out of the repair shop
as soon as possible. If you are a habitual claimaint, you may find yourself
being "non-renewed" by your insurance company and in this
event, it will be more expensive to acquire new auto insurance.
7. Ask about all available discounts.
Get the rate you are entititled to. Many companies give discounts for
Defensive Driving, Driver Training or "Good Student" discounts
for younger drivers. Some companies even give extensive savings if the
policy is paid for in a lump sum, rather than installments.
8. Keep your driving record clean! Slow
down, practice courtesy on the roads. Many customers find themselves
penalized for mulitple driving citations even if they don't have accidents.
Most importantly, DON'T DRINK AND DRIVE, this will stay
on your driving record for years, let alone the risk of life and property.
8. Keep your
credit history clean. Many insurance companies are now using credit
algorithms to determine the "likelihood and severity" of possible
claim. While maintaining a good credit history is often times out of
the driver's control (due to mitigating circumstances), know that credit
reports and loss history are usually major factors in getting the best
rate on auto insurance.