When doing auto insurance comparisons it is important to compare your vehicle cover on a like for like basis. Insurers often have policy benefits that are specific to their company in order to make their offer unique. This gives the insurers’ sales representatives an edge that can be used to obtain, and retain automotive cover business.
For example: when two policies are the same cost and insurance levels, an agent may say, “we may have the same price but look, we have first dollar coverage on glass repair or we waive deductibles when both parties are our policy holders”. These little added coverage’s usually do not cost the companies a lot of extra money and can be put in a policy without raising the total cost.
Steps:
1. Compare the rates given to you with like levels of liability coverage and same level of deductibles.
2. Check to make sure that any limits of benefits on the policies are the same.
3. Check not only the final total premium price but also check the individual prices of each section of the policy.
4. Make the agent prints out the quote so that you can see what the different component costs are of each section.
The process of checking different companies can be different for each individual. If you are a “people person” and like to interact with the sales agents, then go to several different offices. Go to what are called captive agents, such as an All State agent, or any agents of the other larger companies.
Brokers v Direct Online Comparisons and Quotes:
If you do not care to drive around to different offices find a broker in your town; looking in the Yellow Pages on the Internet, or the Yellow Page Book can easily do this. Looking for a name in the title can usually identify an insurance broker. Example: you may see Sam Jones agency or Jimmy Jackson Agency. If by chance you see one of the top insurance companies logo in their ad then they are not a broker but a captive agent. Once you have found the broker have them give you quotes in the manner mentioned above from several different companies. A broker sometimes can customize a policy to fit an individual. The problem here is comparing pricing to get the best deal becomes harder. Ask the broker to just get standard quotes first from different companies and find one that seems to be fair and equitable. Then if there are features that you want to have added to your policy most likely they will be added at a fair price.
A technique that has yield effective results in finding an agent or a broker is to simply ask your friends and relatives whom they have their automobile insurance with. Asking at work has benefited well too. When you ask people about who they have their insurance with they will be more than willing to share with you. They will tell you why they have stayed with an agent or a company for a long time. They will also tell you why they left their last company or agent and the reasons why the company or agent that they are with now is so great. In short, personal reviews should be listened to.
Once you have purchased a policy it is a good idea to do comparisons periodically just to verify that you are still getting the best deal. Rates tend to change not just on your driving records but also on the financial position of the insurance company. Your first step should be to talk with the agent that wrote and issued your policy. Some companies use a tiered system to rate their customers. You may be eligible for a rate decrease due to being able to climb into a higher tier. This may also enable you to have better coverage at a lower price. Checking with other companies, even the same companies that you originally checked with will sometimes save you monies now that did not then. This is due to rate increase or decreases that the companies had to take or give back due to their financial performance in any given quarter or year. Due to this, Autos Insurance rates tend to change and it is a good idea to watch the rates, especially if nothing has changed in your rating status.
