When it comes to car insurance, the industry is one that is highly competitive. This means that you have the chance to save money. All you have to do is to figure out just how much money you can save when it comes to discounts and rates if you change to another insurance provider. Before you jump from the frying pan into the fire so to speak, though, you might want to take a few minutes to get in touch with your existing insurance company so that you can ask them if they are willing to match or beat any quote you might get from another company.
Here is a quick look at some things that you can do to try to save money on your insurance.
Get Quotes
It all begins with getting quotes from a few different insurance companies. Most companies, like Acceptance Insurance for example, will have online forms that you can fill out to get quotes. Some of these will give you the quote right online, while others will have an agent contact you with the quote. The thing is, auto insurance companies don’t really advertise their prices, so you will need to do the work to determine which one will offer you the best cost. If you want to find the lowest rates, look for similar coverage by different insurance companies.
We use our vehicles for all sorts of things; from transportation to and from work, to running errands, to road trips with the family and more. Aside from it being the law to have car insurance, don’t you think that you need to be covered in case the unthinkable happens? What will you do if you are in an accident and you don’t have any insurance? If you have to have it, why not get it at the best rate?
Savings Figures
CBS news did a report on whether or not people can save money by switching to a new insurance carrier. One of the things they talked about was how the companies get the savings figures. This apparently wasn’t something that was easy to explain. Each insurance company they talked to submitted a response in writing that had been approved by their attorneys.
Each one had similar explanations. The savings are typically based on an average of what new customers said the saved when they had changed insurers during a set period of time. What this translates to is that not each and every customer who switches saves money. Instead, this is the average of what people reported saving when they switched.
Contacting Companies
If you are looking for savings by switching to a new company, contact the company directly as opposed to going through independent agents. Cutting out the middleman like this will save you money right off the bat. Begin by calling those insurance companies that are in your area. You can also go to their web sites to get quotes. There are also quite a few comparison type web sites that will allow you to compare rates from different companies for free.
Discounts
What discounts are you getting from the company you are with right now? Do you get a safe driver discount? Military discount? Multiple driver discount? A discount for having your home and car insured with the same company? How much do those discounts add up to? Find out if the other companies that you will be getting quotes from will offer these or other discounts.
Current Policy
Make sure that when you are getting quotes that you have a copy of your existing policy at hand. Enter the same coverage amounts from your current policy when you request these quotes. This will allow for you to be certain that you will still be getting the same level of insurance coverage. Try to find companies that will offer you the same amount of coverage for less than what you are paying now or ones that will offer you more coverage for what you currently pay. Getting less coverage than what you already have isn’t saving you money.
It might seem that it can be complicated trying to save money on insurance, but it really doesn’t have to be. If you go into the process already knowing exactly what you have and what you need, you will already be ahead of the game.
Mia Guerra
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