Auto Insurance Comparison

With the right tools in hand; auto insurance comparison shopping can be a very easy road to navigate. Collectively, there are hundreds of auto insurance carriers nationwide. Individually, each company has an objective to provide property and casualty insurance to those who own vehicles both in the private sector and to the general public.

Understanding insurance can be a complicated process given its complex language and legal references; however, with the right knowledge; comparing quotes, coverages and companies will give you the opportunity to understand the right policy that protects you and meets all of your financial needs.

Start comparing auto insurance quotes now by entering your zip code above!

Factors that Go into Auto Insurance Comparison

Comparing different insurance companies; whether online, in person or by phone can be a frustrating process. Many times, consumers search for a an insurance policy based on price alone only to discover they paid for a policy that does not provide appropriate coverage or protection.

While the price of a policy is a major decision factor for most consumers; the intangible “factors” of different companies often go unnoticed. These intangible factors are often not included in the comparison process and are unfortunately overlooked. The failure of consumers to look at the “big picture” while comparing insurance companies may eventually cost them time, dissatisfaction and unfortunately, their hard earned money.

Some of the most important factors to include in any insurance comparison are: price, integrity, claims practice, history and rating and customer service.

Price

It is no secret that the bottom line is, “the bottom line.” An overpriced policy will be a major factor in a consumer’s decision to insure their property with one company over another. In fact, a recent study showed that 57% of consumers see price as the top criteria when selecting an auto insurance policy.

Insurance companies gather data, statistics and crunch a wide array of numbers to determine the price of an insurance policy. These statistics can vary based on age, the area a consumer lives, the type of car being driven and driving history. It is a cumulative gathering of these numbers that affect the overall rate of an insurance policy more than any other factor.

When comparing policies, consumers cannot be swayed by the price alone. With a variety of deciding factors within a policy; making a decision on the price alone may undermine the entire quoting and comparison process.

Integrity

It has been said that, “Integrity is doing the right thing, even if nobody is watching.” If this is true, can you really trust the company you are going to do business with?

While securing an insurance policy is relatively easy to do, watching what your company may do on an everyday basis is not. When comparing companies, consumers must take into consideration the operating principles in which an insurance company is founded.

• What is their mission statement?
• What are their core values?
• What principles guide the everyday business decisions that affect the company and its policyholders?

Comparing “how” a company practices what they preach may be more important than comparing anything else when researching a policy.

Claims Practice

The purchase of a policy is a “promise” between an insurance company and the consumer. This promise places a secure guarantee that in the event of a covered loss the consumer will be made whole or restored to a reasonable expectation.

Realistically, not all insurance companies live up to this promise. Sadly, many consumers purchase a policy, only later to be left empty handed at the time of their greatest need- a loss.

How a company responds to a claim; whether it is a natural disaster or an ordinary fender bender, speaks volumes on how they will treat the individual consumer in the event of a personal loss. When comparing companies, every consumer should be concerned and educated on the overall claims practice of any company they may insure their property with.

– Third Party Reviews

Consumers who want to assure they are protected by reliable companies often research the claims statistics of the major companies from reliable sources such as J.D. Power. These non biased companies conduct annual reviews of the claims process and practice and grade each company based on their studies.

– Social Reviews

Word of mouth and social networking sites are also another tool consumers can use to gain insight into the claims practice of insurance carriers. These sights, although not all contain helpful information, often give a very honest and personal view into “how” a claim was handled on an individual level.

Remember, when comparing insurance, it is the promise you are purchasing from an insurance company. This promise should be a major factor in your decision to conduct business with any company and place your financial well-being in their hands.

Customer Service

Many insurance companies stake their reputations on the customer service they provide to their policyholders. Consumers will statistically pay more for a policy if the customer service is outstanding versus a competitor with agents who are unhelpful.

Some factors to consider when comparing customer service among companies are:

* What time(s) is/are the customer service department available to assist you?
* What complaints have an individual company received in the past?
* What is the average time a customer will wait on hold to speak to someone?

Recent statistics show that even though customers have a high rate of satisfaction with their company, 40% will switch within a five year period of time. Some of the reasons consumers name for moving from one company to another directly relates to poor customer service.

Save Time, Money and Future Headaches

Overall, the process of comparative shopping is not an easy one. As consumers we are constantly bombarded with advertisements on television, in radio commercials and on the internet. Although the process of can be difficult, the road to your destination can be an easy one to travel with the right information in your hands and the right direction in front of you. Begin comparing auto insurance rates by entering your zip code below!