Auto insurance premiums escalate right at the time when the economy is at its worse. Often when the market’s down, the interest rate is low and your checking account should be renamed the Artic because it seems like its always below zero, you open your mail and find that the bill for your auto insurance doubled. It isn’t a coincidence. Insurance companies make some of their money from investments. If their investment income is lower, they make up the difference by raising your rate.
How can you maintain insurance coverage without destroying your budget? You need to compare car insurance quotes before you pay your next premium. Not all insurance companies have the same losses, the same investment results or the same expenses so the premiums vary considerably.
You can compare car insurance quotes the harder old-fashioned way, by calling several different agencies in your area, or go online and secure a quote. The beauty of using online quoting systems is that it’s quicker than a phone call and often you’ll get several different quotes at one time.
When you compare car insurance quotes don’t just look at the amount you pay, look at all the coverage and make certain it’s the same. This is easy if you find comparison rates on line. Since you input all the information yourself, as long as you don’t deviate with the coverage on your policy, you’ll have the same limits of liability and deductibles.
Is there a reason you wouldn’t want to compare rates? Yes there are a few reasons that could affect the price of your insurance. If you’ve had an accident that just occurred, after the company sent the premium notice, the rate you have doesn’t include the cost of the accident. In addition, you may still have outstanding bills your present company needs to pay. Make certain that the company pays all the bills from the accident before you consider a change of carrier.
If you have tickets that your present company doesn’t realize, you actually pay less than the price of the new quotes. Don’t worry, eventually they’ll notice that speeding ticket looming on your driving record and you’ll be right back online looking for a better price.
Make certain that you use a site that offers several companies. Check the company’s ratings and claims paying history. If you find many customer complaints online, you may want to continue looking for a different low quote.
Remember, when you compare car insurance quotes, you pay less for the same coverage and can pocket that money for a rainy day. Some people like to put away their savings in a deductible fund. As their savings from the lower premiums and funds grow, they increase their deductibles, saving even more money. Some people manage to save enough through the years to purchase a vehicle with cash. That is a very good reason to compare auto insurance rates.