To compare auto insurance quotes from different companies, individuals need to look at all of the facts.
You need to know what an insurer can offer, what limitations the policy has, and what level of coverage you have. In other words, it’s not easy to compare one policy to the next without breaking down all of the components of the insurance plan. Here are five areas to look at when comparing quotes from different insurers.
#1: Coverage Limits
Every policy will have a maximum limit of coverage. The more coverage you have, the more you’ll pay. Compare coverage limits per incident and lifetime coverage. Do this for both property insurance and liability insurance.
#2: Safety Features
Many times, average car insurance rates come down to what’s on board your vehicle. Do you have anti-lock brakes? Perhaps you have a built-in security system or GPS tracking. These can help to reduce costs, but not all insurers automatically apply these features to quotes.
#3: The Deductible
This is the amount you will pay out-of-pocket before your insurer starts to pay the remaining amount. A high deductible will reduce your auto insurance premium costs. However, it is important to find a balance between what’s affordable to you and your ability to reduce premium costs.
#4: Discounts and Rewards
Some of the best auto insurance companies will automatically apply any discounts and rewards your vehicle qualifies for. However, this is not always in the quotes you receive. When comparing policies, be sure the same types of discounts are applied by both insurers.
#5: Your Personal Risk
Average car insurance rates can only go so far. To have a true breakdown of what you can expect, you need to get a closer look at rates for you, specifically. Be sure the quotes you receive factor in your moving violations and previous claims.
To compare auto insurance quotes from different companies, factor in each one of these concerns. You’ll want to work closely with any agent providing you a quote to ensure you are comparing apples-to-apples within your policy.