We all need car insurance, but what is the best coverage for the price? Insurance companies are constantly vying for our business with an abundance of catchy commercials. So how does one tell the difference between a smart ad campaign and an actual deal? Below are some tips to get you the best price on your auto insurance, because wouldn’t you want to spend your hard-earned money on something more exciting?
Ways to get the Best Rates
- Shop around. Yes it may take some time, but most companies have online quote options which makes it easy to compare.
- Make sure you ask about student, age and good driver discounts. Premiums are lowered once the driver reaches 25. These discounts can add up quickly when paying your premium over time.
- Consider bundling services. If you are in need of different types of coverage (renters, home) your rate for each will be lower. Plus it simplifies your bills.
- Your place of residence also has a lot to do with your insurance costs, urban areas have higher premiums.
- Looking to buy a new car? Different types of vehicles cost you more in insurance. For example insurance for Hondas tend to be steep due to their high rate of theft.
- Consider a higher deductible. Yes it can be a gamble but a higher deductible will lower your monthly premium. Add up your savings and compare it to the amount of your deductible.
- Stay loyal. Once you have a good deal stick with that company, if you’re not happy with your rate ask if it can be lowered. Insurance companies tend to reward existing customers.
Top Insurance Companies
Every insurance company attempts to attract new customers with their latest deal. Below is a breakdown some of the most popular insurance companies and their current discounts.
- Liberty Mutual has been advertising “accident forgiveness,” so what does that really mean? Basically, Liberty Mutual guarantees that your rates won’t go up after your first accident. The long-standing insurance company also offers a 7.5% discount on renters or home insurance when you also purchase auto coverage.
- Allstate Auto Insurance offers safe driver awards, including a $100 bonus towards your deductible each year you are accident free, which can save you big in the long run.
- USAA is another great option, providing several ways to save, including a family discount option. Save 10% on your policy when other family members sign up through USAA.
- 21st Century Insurance Company gets high customer ratings based on cost and customer service as well as offering competitive pricing.
With these tips there is no need to spend a fortune on car insurance, now what will you do with your savings?