Auto Insurance Rate Quotes Comparison Pays Off For You

2007-03-08 10:33:40

( Insurance )



Comparing auto insurance rate quotes can really pay off. But, a personal financial planning expert says, only one-third of car owners shop around to compare auto insurance quotes. By compiling car insurance rate quotes and comparing costs and benefits, particularly discounts, it is possible to reduce your annual premiums by five to fifty percent.

Your comparison shopping on car insurance rate quotes will be much easier if you gather online auto insurance quotes. Plans sold online cost less than those through agents; but a disadvantage is that you lose the assistance of an agent to help you figure out what you really need.

The primary factors that affect rates are usually: your age, sex, marital status, your driving history, where you live, how you use your car, your car’s age and mileage. Using these data, the companies come up with auto insurance rate quotes tailored for your needs.

Car Insurance Rate Quote Discounts

You should consider that most insurance companies offer discounts basing on the factors above. An accident-free history gives you a discount. If you have taken driver’s training, that merits a separate discount. There is a multi-car discount if you insure more than one car with the same company. If you install antitheft devices in your car, most companies will also give you a discount for that. Membership in a car pool and automobile clubs gets a discount.

You may want to take a look an insurer that accepts only particular groups, like educators, executives or government employees only. The selective underwriting allows the company to reduce its losses and operating expenses which translates into lower auto insurance rate quotes.

If you can afford to absorb more costs, try to raise the amount of your deductible. This can have a significant effect on the premium indicated in your auto insurance quote. If you take a thousand-dollar deductible, for example, you can save as much as one-half of your premiums for both collision and comprehensive coverage.


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