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For those looking to save money auto insurance is one of the first expenses to get slashed. Unfortunately, many people are oblivious to what they’re really switching when they shop for auto insurance.
As we’ve previously discussed it’s extremely important to carry the right insurance coverage’s, especially when it comes to liability insurance.
If getting a new auto insurance quote is on your agenda here’s what you need to know in order to get the best rate and coverage.
Have Your Current Policy Information Available
Before you make the phone call to your agent or log online to get a new quote, take a quick minute to pull out your current policy.
In my time as a personal lines insurance agent I cannot count the times that I would get requests for quotes from people who had no idea what their current coverage’s were. To actually save money on your auto insurance you need an apples to apples quote – not an apples to peanuts quote.
If your strategy for saving money is lowering your coverage’s there’s no need to shop around, you can just ask your current carrier to lower your coverage’s.
Have your policy right in front of you before obtaining new auto insurance quotes. If you don’t know your coverage’s there’s a good chance the insurance agency or company you’re talking to will give you low ball coverage’s that obviously come with a cheaper rate.
Bundling Your Insurance Is Not Always Smart
Contrary to what your insurance company tells you, bundling your insurance is not always the smartest move. Different insurance companies specialize in different areas. One homeowner’s insurance company may prefer homes with a lot of acreage located in the country. Another may prefer homes located in the city.
The same goes with car insurance. Depending on several factors such as your driving record, age, and marital status you’re going to get rates on the opposite end of the spectrum from varying companies. This is why it’s not always smart to bundle your insurance.
Yes, you will get a discount from most companies for bundling your home and auto insurance but this could cost you hundreds to thousands of dollars in premiums.
Most Companies Offer the Same Discounts
On auto insurance commercials you’re always made aware of the special discounts the company offers. Would it be much of a surprise to you that almost all of the companies offer the same discounts? Probably not.
Don’t be suckered in by mass marketing tactics. There are small, financially stable insurance companies that can offer you the same discounts and possibly better rates than the big name companies.
Other Auto Insurance Tips
I worked for an independent agency allowing me to shop a dozen companies for our customers. Getting quotes from an independent agency is a good idea since they’ll be able to compare rates from several different carriers instead of being married to one company.
When you’re ready to save money on your auto insurance make sure you’re properly insured and get an apples to apples quote. You don’t want to sacrifice quality coverage just to save a couple bucks.