Why Compare Auto Insurance?
Auto insurance is mandatory for almost all drivers and serves as a critical component in securing your family finances when operating a vehicle. However, even with mandatory auto insurance requirements the cost of premiums are set by the private market so you need to shop around and compare providers to find the best rates. Depending on your risk profile the cost of your monthly premiums can vary greatly from one insurer and its not just your driving record which is used to determine your risk. Where you live, the type of vehicle you drive, your credit score and even your marital status are often used as qualifying risk factors.
“Auto Insurance can sometimes equal up to 5% or more of a household budget”
There are well over 100 over licensed car insurance companies in most states and finding affordable coverage simply takes a combination of education and comparing your options. From car insurance for young drivers to understanding why women drivers pay less there is a wealth of information online to help educate you well before committing to a policy.
How much Auto Insurance do I need?
There are many questions you need to understand the answers to well before signing for a policy. While many drivers simply compare premiums the real value of any insurance policy is in the details of coverage. Your personal assets are always at risk when operating a vehicle without the right type of coverage. Understanding how auto insurance works can not only help you find cheap car insurance but also save time when it comes to filing a claim.
What should I know before shopping for Auto Insurance?
The more you know the better. Auto insurance is not just blanket policy of protection which covers all liability on the road but a combination of different coverages and policy limits that are combined together to create a policy sufficient for your needs. Some drivers only purchase liability coverage while others prefer a full coverage policy – it all depends on your family needs but you need to know your options otherwise you may well be uninsured or underinsured in the event of an accident.
You also should understand that the type of vehicle you drive plays a big role in the cost of premiums so it’s important to pay attention to vehicle safety ratings and other independent ratings such as booster seat safety ratings. Premiums are based on risk and cars with lower safety ratings usually end up costing more to insure.
Who are the Best Auto Insurance Companies?
There are many great auto insurance companies and you should never limit yourself to just the big brands or providers who stand out on national studies. Some of the best insurers are local and regional providers who simply do not have enough market share to be known nationally or even be part of some studies. While its true that almost 70% of all policies are issued by the top 10 providers there are still millions of drivers who are insured through smaller providers with the same (or better) quality service and security.
Buying car insurance is a big decision and the only way to find the best coverage is to shop around and compare quotes from several providers. Start an auto insurance comparison search today by simply entering your ZIP code and get FREE quotes online.