Affordable Auto Insurance

Finding affordable auto insurance is mainly a question of getting educated about what the possibility for reduced rates are. There are a great many auto insurance companies to choose from these days, and it would difficult to even view the rates of a small percentage of the total number of them.

This is good news from a savings standpoint. It means there are many different sorts of policies and perks and that insurance companies are competing to offer the lowest prices. But to take best advantage of this situation, you need to get familiarized with how the industry works and the best ways to negotiate the lowest possible rate with a company. The following are some tips on doing that.

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1. The Internet is the Place to Shop for Auto Insurance

The internet is the best place to shop for auto insurance these days. The following are some of the primary reasons why:

• It’s Fast

The web is fast in terms of its ability to get information and display it in intelligible form. This information can come from the websites of a auto insurance companies, or from informational sites of various sorts such as blogs, forums, and insurance comparison sites. It is accessed in immediate time so that it is possible to get up to speed on various informational levels quickly.

• It Makes Comparison Easy

One of the key tools in finding affordable auto insurance is comparison. Comparing rates for policies of all different types and from different providers gives you a clear sense of what the lowest rates are comparatively. The internet is tailor made for comparison because it allows for many different companies to be looked at and their information accessed in a short period of time.

• Comparison Sites

A good internet based tool for comparison of auto insurance rates is the comparison site. These sites specialize in helping consumers to find the most affordable insurance. They often have forms in which people can enter their information and companies and quotes can be generated in response. If these sites are well structured and run, they can be a real help in finding insurance information.

• General Information

There is also a considerable amount of general information on the internet that can help you find the best auto insurance rates. It is important to get well informed about the insurance industry in a general sense if you want to find the lowest possible rates. As mentioned above, sites like blogs, forums, and insurance information pages have a lot of useful general information that can help you to find the right insurance.

• Caution: Not all Insurance Sites are Worthwhile

There is one important cautionary note here. Not all insurance comparison sites or insurance information sites are reputable. A certain number of these sites are put together quickly and are basically advertising for only a few insurance companies. They do not offer an unbiased view of all the insurance options that are available but instead are only attempts to direct traffic to companies with which they have made prior arrangements. Try to spot these sites and avoid them. What you want are unbiased sites that deliver a lot of good, usable results when you enter various insurance search criteria.

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2. Types of Policies

In looking for the best insurance rates, you should keep in mind that there are many different policy types and levels of coverage available. There are policies that have comprehensive or third party collision insurance for instance. There are levels of liability coverage and other perks that can be added. You can either have a basic policy – a “bare bones” policy that is the minimum needed to get a car on the road or you can have higher levels of coverage that insure you for higher levels of damages. You need to talk to agents about these variations and see which one fits your situation and budget best.

3. Your Deductible

All policies have a deductible. This is the amount for which you are responsible if there is an accident, theft, or other financial loss situation. The amount of the deductible directly affects the premium you have to pay each month. This only stands to reason, if the insurance company is not going to be responsible for as much money they are not going to charge you as much for the policy.

Requesting a relatively high deductible is one way to lower your insurance premiums. But you must weigh out how likely you think it is that you will have an accident. You may wish you had a lower deductible if there is a large amount of damage to a vehicle. On the other hand, you may never get into an accident or only get into something minor, in which case having a high deductible will be fine.

4. Discounts

Another important tool in finding affordable auto insurance is taking advantage of discounts. There are a number of situational factors for which companies will discount your rates. You can compare the discounts offered by a number of different companies to see which ones bring your rates to the most affordable level. Here are some common discount criteria:

• Age and other Demographics

Your age, occupation, and location are simple demographic factors that may make you eligible for a discount. Insurance companies look at statistical information that shows which demographic groups get into the most accidents, and this can sometimes work in your favor as regards insurance.

• Safety Features

If you have safety features installed in your vehicle such as steering wheel locks, wheel locks, air bags, and so on, insurance companies will often offer you a discount. Make sure to bring these features to the attention of representatives if they do not ask. You can also consider buying such safety items before getting a quote for just this purpose.

• Driving Safety Course

Whether you are assigned to one because of a ticket or take one voluntarily, having taken a driving safety course will often lower your rates.

• Good Academic Performance

Especially for your drivers, having good grades can actually lead to reduced auto insurance rates. Good students are seen as more responsible and conscientious than poor ones, and this translates to many insurance companies as feeling more confident about insuring them, hence the lower rates.

• Distance to Work

The distance that somebody drives to work can affect their insurance rate. People that live close to their jobs have shorter periods of time on the road and are not late as often, making them statistically less likely to be involved in accidents. Insurance companies will thus discount their premiums.

5. Try Negotiating with Leverage

Just because a company may quote you a certain rate doesn’t mean that they won’t reconsider. If you tell them you have found a batter rate elsewhere. They may try to beat another company’s rate in order to get your business. This is the nature of business in a free market capitalist economy. If you have done your homework as far as comparison of insurance companies goes, you should have some rate information that can serve as bargaining leverage. Use it.

Take all these sorts of factors into consideration when selecting an auto insurance provider. Compare, compare, compare, get educated about the insurance process, and use us the internet as the high tech shopping tool it was designed to be. Lower insurance rates can be yours if you will take a little time to get more deliberate about the auto insurance you choose and use the tools and resources available here and now in the information age.

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