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5 Tips to Compare Car Insurance Quotes the Right Way

Whether you are a new car owner or have had your vehicle for many years now, it is normal to feel protective over your ride. While there are many steps you can take to protect your car, probably the most important one is to obtain car insurance.

In general, getting the right insurance coverage provides owners with lots of benefits, including financial and legal protection in case they get into an accident. It basically gives you peace of mind knowing that you will have insurance to cover all expenses, repair costs, and medical bills that may incur as a result of an accident, natural disaster, or theft.

However, before purchasing the cheapest coverage, it is advised that you first compare car insurance quotes to ensure you are getting the protection you need at the price you can afford. In this post, we share five tips to help you compare quotes the right way.

Get quotes from multiple reputable insurance providers

When you are shopping around for car insurance, it is advised that you get several quotes from multiple reputable insurance companies. Experts recommend getting auto insurance quotes from at least four to five different insurance providers so you can find out what prices best suit your budget. As you are doing your research, you will also have the opportunity to see how the coverages differ among the companies and choose the one that fits your unique needs.

In addition, shopping around for different quotes can help you weed out any disreputable insurance providers who offer lower prices, but poor car insurance policies. 

Factors that affect car insurance rates 

One thing many car owners fail to consider when shopping for car insurance quotes is the factors that affect auto insurance rates. Almost all insurance companies will take several factors into consideration to set your premium and help you choose the right policy for you. Some of these include:

  • Your vehicle’s make, model, and age;
  • Your location;
  • Your driving history.

For instance, your driving record is very important when obtaining car insurance. The rule of thumb is the better and more responsible driver you are, with no accidents or traffic violations, the lower the premium you will get. 

Determine the right coverage for you

Another important thing you should do when comparing car insurance quotes is to determine what type of coverage you need. Typically, most countries require drivers to obtain liability coverage to help cover all costs, repairs, or medical bills of another driver when they are at fault in an accident. 

However, this coverage may not be enough as the cost of accidents usually exceed the minimum limits, which means you will most likely have to pay the difference out of pocket in case of an unforeseen event.

Therefore, make sure you compare the liability coverage from different insurance providers to see which ones offer the highest limit. Consider purchasing add-ons for even greater protection.

Choose your deductible

As is the case with liability limits and coverage, you should also consider setting a similar deductible when comparing car insurance quotes. A deductible refers to the amount you pay out of pocket on a covered claim before your insurance steps in to cover the rest. 

Experts usually recommend increasing your deductible so you can lower your insurance premium. While this means that you will have to pay more for your own money in case of an accident, it will certainly be more beneficial in the long run. 

So, when comparing quotes, make sure you settle on a deductible that suits you best, while also getting the lowest price on a premium for the same amount of protection.

Look for discounts

Car insurance can be quite expensive. So, another thing you should do when shopping around for car insurance quotes is to look for what kind of discounts insurance providers can offer you so you can save money on your premium.

For example, some common discounts companies can offer drivers include:

  • Alternative fuel discount;
  • Anti-theft or safety device discount;
  • Bundling discount;
  • Driver’s education discount;
  • Safe driver discount.
Photo by Why Kei from Unsplash

Final thoughts

If you want to protect yourself and your vehicle, it is important that you obtain car insurance. Getting the right coverage will protect you both financially and legally in case of unforeseen events, which may result in high expenses, repair costs, and medical bills.

However, in order to get the best coverage, you should first compare quotes from different insurance providers so you can purchase the right policy for the most affordable price. Follow the tips from our post to help you along in your decision.

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