Where to Find Cheap Insurance Quotes
SmartFinancial Offers Unbiased, Fact-based Information. Our fact-checked articles are intended to educate insurance shoppers so they can make the right buying decisions. Learn More
They all claim to be cheap but often they are not. It seems ever since you've been looking to lower your car insurance rates, but what is really the story behind cheap insurance quotes and should you be wary? In this article we will explore all the ways you can get guaranteed cheap insurance quotes, without any spam, half truths and unrealistic promises. We'll also discuss how to lower your rates fast if you simply can't score a rock-bottom rate right away.
What Should I Know About Cheap Insurance Quotes?
What an agent quotes you is an estimate of what you should expect to pay but it is only an estimate and often based on information the agent got from you. So, if you say you haven't had an accident you'll be quoted at a very good rate. After digging, an underwriter will come upon some truths you may not have shared with the agent. Not only will the accident from three years ago show up, you'll be considered a risky consumer because you had an accident and you lied. Lying always raises red flags. Red flags are considered risks, which is what your insurance quote will be based on in addition to a list of other factors we'll get into briefly.
What You Should Know About Cheap Car Insurance Companies
There are small companies and then there are unreputable companies. One easy way to see if the insurer an agent is trying to push on you is worthwhile is to do a simple search. Check the Better Business Bureau (BBB) to see what others are saying about the company and to see if they pay claims.
Why Should I Care About Financial Strength When it Comes to Car Insurance Companies?The true test of an insurance company is when you need money to repair your personal property, whether it's a car or a home. A company without much financial strength will not be able to pay claims. If they are charging rock-bottom prices, how can they?
A reputable company will have a robust Internet presence. Take reviews with a grain of salt too because more people will complain about their insurance rather than take the time to say how wonderful it is. Hopefully, you won't be using your insurance at all!
Should I Use an Insurance Comparison Site to Find Cheap Insurance Quotes?
Just as there are good insurance companies and bad ones, there are good insurance comparison websites. Some don't really do much other than sell your information so be sure you're giving your information to a reputable source. One way to do that is to look up the source to see what consumers and insurance agents alike have to say about the company.
SmartFinancial is superior to other insurance comparison websites because they take your information and compare with over 200 insurance companies. They match what you're looking for with the insurer who will give you the best coverage within your budget. They only work with reputable companies so if you're ever in an accident, you have good representation and you're paid according to the policy's terms. All you have to do to start is enter your zip code here.
Ways to Lower Your Car Insurance Rate
Pay Once or Twice a Year. If you pay the annual amount or six-months amount upfront you'll pay less in the long run.
Bundle Your Policies. Bundle your auto insurance with your homeowners insurance or renters insurance. If you have a business bundle that too. If you buy all your insurance from one company they may give you a nice discount.
Get a Multi-Car Discount. When you insure more than one car with the same insurance company you save money overall. If you and your spouse have separate policies consider bundling your cars for a multi-car discount.
Follow the Rules of the Road. Avoid DUIs and accidents and your insurance rate should continue dipping.
Safety Features Discounts. Having certain anti-theft or safety features on your car will lower your car insurance premium. So be sure to check with your insurance company about the safety and anti-theft features on your car. They may warrant a discount.
Affiliations and Memberships. Members of certain professional organizations, alumni and affiliates get discounts on car insurance. Check with your agent to see if you qualify for the ones they offer.
Insure Less on Older Cars. The maximum payout for collision coverage and comprehensive coverage is limited by the value of the car. So if your older car has a low market value, it may not make financial sense to carry collision coverage and comprehensive coverage any longer. If your car is worth $1000, you'll get that minus the deductible, which may leave you with nothing.
Maintain a Good Credit Score. In most states, insurance companies use consumer credit data when assigning risk pools and setting rates for auto insurance. As a result, drivers with excellent credit scores pay much less for insurance than drivers with low credit scores or no credit score at all. You can improve your credit score by paying off debt and avoid taking on new debt.
Avoid a Lapse in Coverage. Expect higher insurance rates if you don't maintain continuous coverage of your auto insurance coverage. Even if you don't own a car, it's advisable to carry a non-owner policy because when you do buy insurance it'll be more expensive otherwise.
Choose a High Deductible. A deductible is the amount you need to pay before your auto insurance company begins to pay for damages to your car or losses. Opting for a high deductible will help to lower your auto insurance premium. So choose a $1,000 deductible or higher and save on your car insurance monthly payments. It is a good idea to put the deductible amount in a small savings account so the money will be there if you need to make an auto insurance claim.
Drive Less. If you put a lot of miles on your car you'll pay more in car insurance. It only makes sense because you're more likely to have an accident. If you drive 5,000-6,000 miles or even less, you pay rock-bottom prices.
Are You Married? 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.
Other Discounts. In addition to good drivers, students and veterans are eligible for discounts on car insurance. So be sure to reach out to your car insurance company if you qualify.
Choose a Safe Neighborhood. If you live in a high-crime neighborhood with high accident claims and auto theft and vandalism, you will pay more for your auto insurance. If you live in a neighborhood with low accident claims and low theft, you will pay less for your auto insurance. So choose a safe neighborhood and save money on your auto insurance.