How to Find Cheap Car Insurance Quotes

Lucy Lazarony
January 5, 2021

You want good car insurance coverage at low, low rates. Cheap car insurance quotes exist for the type of car insurance coverage you need. But you’ll want to consider cheap car insurance quotes from more than one insurance company to land the absolute best rate. And you’ll need to be just as savvy about choosing which types of car insurance coverage you need. The right coverage matters. So let’s look at how to choose the right coverage and then zero in on finding cheap car insurance quotes. We’ll start by looking at state minimum liability limits, uninsured motorist coverage and personal injury protection (PIP). Your state may require you to carry some or all of these coverages.

If you are financing or leasing your car, your lender will most likely require that you carry collision insurance and comprehensive insurance until the loan is paid off. Even with full coverage auto insurance, you can land a good insurance rate. Shopping around will ensure that you get the lowest rate available for car insurance. Instead of spending hours or days comparing car insurance quotes, you can compare rates in just a few minutes with SmartFinancial. Let’s begin by looking at the insurance coverage that you’ll need to meet state and lender requirements. And then we’ll give you the steps necessary to get the best value for a car insurance policy.

State Car Insurance Requirements

Liability Insurance. Auto insurance is regulated at the state level. Most states have minimum liability insurance requirements for the drivers in their state. What is liability insurance? If you ever cause an accident, liability insurance pays for other people’s injuries and property damage up to your liability limit. So check your state’s minimum liability requirements with your state insurance department. These are important numbers to know.

But the state minimum liability coverage may not be enough to cover damages if you are in a serious accident. And you may be forced to pay the liability damages out of your own pocket. That is why insurance experts recommend a higher level of liability protection, $100,000 bodily injury liability coverage per person and $300,000 bodily injury liability coverage per accident. The Insurance Information Institute recommends these amounts as well as $100,000 property damage liability coverage per accident.

Uninsured Motorist Coverage. Some states require drivers to carry uninsured motorist coverage and underinsured motorist coverage. Uninsured motorist coverage helps you pay for damages caused by a driver who doesn’t have insurance. Underinsured motorist coverage protects you in the event of an accident in which the other driver is at fault and doesn’t carry enough insurance.

Personal Injury Protection. Also known as no-fault insurance, this coverage pays for the cost of your lost wages and medical bills up to the PIP policy limit. No-fault insurance will cover these expenses regardless of who is responsible for the accident. Is PIP required in your state? If it is, you’ll find it on your car insurance bill.

Each state requires car insurance coverages. And a lender may require additional insurance coverage as well. Let’s look at lender-required insurance.

Lender-Required Insurance

Are you financing or leasing your car? Your lender may require you carry collision insurance and comprehensive insurance for the life of the auto loan. Let’s take a look at these two very different kinds of auto insurance. Collision insurance is coverage that helps to repair or replace your car if it is damaged in an accident with another vehicle or object such as a fence or a tree. Comprehensive auto insurance covers events that aren’t covered by collision insurance. These events include fire, theft and vandalism and damages from weather such as a windstorm, a hailstorm, a tornado and a hurricane.

Not only are both collision insurance and comprehensive insurance required by lenders, they both require deductibles.

A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Choosing a higher deductible, such as $1,000, will help to lower your auto insurance premium. But keep in mind that you’ll have to pay that deductible amount before coverage begins.

After you pay off your car loan or end your lease term, you are not required to buy collision and comprehensive coverages any longer but you may wish to continue one or both of these insurance coverages for your car. If an accident or weather-related damage or theft or vandalism or a fire happens, your car will be protected.

Emergency Roadside Assistance

You also may choose to add emergency roadside assistance to your auto insurance policy. So if your car breaks down on the road, help will be just a phone call away.

Rental Car Reimbursement

When your car is in the shop for repairs, your insurance company will cover the costs of your car rental. This is a nice additional coverage to have, especially if you expect your car to be in the repair shop anytime soon.

Shopping for Cheap Car Insurance Quotes

Now that you know the required car insurance coverages and the additional coverages that you would like on your car insurance, it is time to shop for auto insurance rates. You’re looking to get these rates as low as they can go. To do so, you’ll need to compare car insurance rates from several different auto insurance providers. SmartFinancial makes this easy to do. With SmartFinancial’s help, you’ll be comparing cheap car insurance quotes from insurance companies near you in no time. SmartFinancial has access to more than 200 insurance companies so you are bound to find the coverage and low price that you want.

10 Tips for Lowering Auto Insurance Rates

Want that car insurance rate to go even lower? Here are some tips and strategies for doing just that.

1. Be a Low-Mileage Driver. If you are a low-mileage driver you will save money on your car insurance. So let your auto insurance know how low your mileage has been in the past year and enjoy the savings.

2. Be a Good Driver. Be a safe and responsible driver and follow the rules of the road and you will save money on your car insurance. If you have no speeding tickets, no at-fault accidents and no DUIs, let your new auto insurance company know. You want a good driver discount for how well you’ve handled your car out on the road.

3. Get a Discount. In addition to good driver discounts, auto insurance companies offer discounts for students and veterans. So if you belong to either of these groups be sure to ask for your discount.

4. Pay Once or Twice a Year. Rather than paying monthly auto insurance bills, pay the entire annual amount or six-months amount. Your premium is lower when you pay just once or twice a year.

5. Insure More Than One Car. Insure more than one car with the same insurance company and save with a multi-policy discount.

6. Check Safety Features. Having certain anti-theft and safety features on your car will lower your car insurance. So be sure to check with your insurance company about the safety and anti-theft features on your car. They could warrant a discount.

7. Review Memberships. Members of particular professional organizations or affiliate groups get discounts on car insurance. So check to see if the memberships in your wallet will earn you a discount.

8. Maintain Your Insurance. You’ll pay higher insurance rates if you don’t maintain continuous coverage of your auto insurance. So stick with your coverage and save money on your auto insurance.

9. Be a Married Motorist. If you’re married, you will pay less for car insurance. There is a correlation between being married and exhibiting safe driving behavior. Because of this, married drivers pay less for auto insurance than singles. Just married? Be sure to let your auto insurance company know. You want that married driver discount.

10. Be a Homeowner. Statistics show that people who own homes drive more safely. So let your insurance company know that you own your home and enjoy the savings on your auto insurance premium.

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