How to Shop for New Car Insurance Policies and Save Money
When you first sign up for a car or home insurance policy, you will be given a new customer introductory rate. It means you will receive a fairly competitive rate on your car insurance, especially if you have a good driving history, and you shopped around for insurance. Each year at renewal, you will likely receive notification that your car insurance will increase. It can be very discouraging, especially if you have not received a ticket or otherwise filed a claim. Car insurance companies do raise rates on policyholders each year. You can keep your car insurance rates lower by shopping around every few years for new car insurance.
Check Out the Competitors
With the Internet, it does not take long to get quotes on various car insurance policies. You just need to be sure that the quote you are receiving is for the same coverage. You need to make sure that you have the same per accident coverage limits for damages and medical expense per person and per accident. Sometimes the calculators will default to a different amount than what you actually want, and then your quotes on are not accurate. Once you have compared quotes across several different policies, you can contact your current insurance agent to see if they can match the current rates that they offer. They may be willing to lower your premium rates. If they do this, you will need to decide if the rate that you will receive is worth staying with the company. Shopping for car insurance can save you a lot of money. Do not go with the first quote you get.
Use Bundling to Save Even More
You can save on your home insurance and car insurance by bundling the policies. It works even for renter’s insurance. When you are switching over your policy, be sure to check that they are giving you a discount on bundling your insurance with them. Many companies do it automatically, but asking will ensure that you receive the savings on your policy. If you own your own business, you may want to find out if you can save money by bundling these policies together too.
Take Advantage of Discounts
The discounts you can get through your employer or your alumni association are worth using. These discounts can lower your entire premium by about ten percent, which adds up over time. When you fill out the application, it will ask for any discounts that you qualify to use. You can look online at your alumni association or on the human resource section of your company’s website to find out what insurance discounts you qualify to use.
Don’t Get Substandard Insurance
There are a number of insurance companies that you can purchase a policy from. Some insurance companies are notorious for denying claims or making it difficult to get all of the money you are entitled to. In the case of an insurance company, you need to carefully research the company to make sure that it is reputable. Generally, going with an established national insurance company is the best option.
Remember to Have Your Insurance Agent to Make Changes on Your Policy
People under the age of twenty-five are charged a higher insurance rate than older drivers. When you turn twenty-five, you can ask your insurance agent to run your information again and adjust the rate on your policy accordingly. If you have a ticket that is set to expire on your record, you can have your premium reduced once it has dropped off. Simply contact your insurance agent and ask them to do another check on your license. These little steps can be done at any time and can save you quite a bit of money in the long run.