How to Save Big $$$ with Online Auto Insurance Quotes!
Smart insurance shopping calls for a bit more effort than a lot of guys tend
to give it. You don’t want to learn after you file a claim that
the new policy you got with the great premium doesn’t include the type
of coverage you need. That’s why it pays to shop around to get the best
quote on car insurance. Six-month auto insurance rates differ considerably between
companies, from an average low of $481 to an average high of $586 across the
country, according to studies done by Progressive Insurance between 1999 and
2004.
There are six distinct types of auto insurance coverage available:
- Bodily Injury Liability – pays the medical and other expenses of those people injured or even killed in accidents you cause.
- Property Damage Liability – covers the damage your car causes to any object your car hits.
- Collision – this is for damage done to your car when it collides with other vehicles (your fault) or other objects (again, your fault).
- Comprehensive – this covers damage to your car that results from something other than a collision with another vehicle – falling trees, hail, errant satellites, etc. It also includes coverage for theft.
- Medical Payments – pays medical, and even funeral, expenses for you as well as members of your family and passengers in your car if it is involved in a collision, regardless of who caused the accident.
- Uninsured/Underinsured Motorist – pays for injuries to you and, in some policies, damage to your car if someone who doesn’t have enough insurance to cover your losses collides with you.
Shop for Insurance Before You Buy That New Car
Chances are you’re taking into account things such as gas mileage, vehicle size, style, comfort and even that multi-disc CD audio surround system if you’re shopping for a new car. Make sure you factor insurance cost into your decision: the make and model of your vehicle, together with your driving record, zip code and the demographics of drivers in your family can have a huge effect on your premium. Without proper planning your fun car buying experience can quickly turn into a long and expensive hassle. But if you shop online before you set foot in
If you’re leasing your vehicle, you should know that you’re responsible for replacing it if it is stolen or totaled. Gap insurance is a must for leasing, although it may sound unimportant. This type of insurance, as its name implies, covers what traditional car insurance doesn’t. If a gap policy is required but not included in your contract, you should shop around for this coverage.
Take Your Insurance Company’s Temperature
One of the things you must check out when shopping for auto insurance is the insurer’s financial strength rating -- the company’s ability and willingness to pay on claims submitted. A badly run company with insufficient cash flow might be slow when it comes to paying claims. Make sure you investigate the company before making any purchases. If you’re not sure about the company’s reliability check them out at www.insure.com They provide free access to Standard and Poor’s insurance ratings. There’s no reason why you should ever put your money with a company whose rating is lower than AA.
To get consumer feedback on major insurance companies, check out http://www.100insurers.com/ There
you’ll find out all kinds of things about the companies you’re considering
like how many complaints they’ve gotten, pending litigation, etc. If
they are getting a thrashing here, consider another company. It sucks to pay
out monthly for coverage and then have to fight tooth and nail for compensation
when you make a claim.
Let Your Fingers Do the Quoting Online
If you’re looking for a quote online, you first need to know the minimum coverage required by your state, and then you have to settle on how much insurance protection you want and need for your particular situation. Erring on the side of caution is still your best bet. This may seem obvious, but just because you’re dealing with an online company, you cannot misrepresent yourself or your driving record. It’s a felony and if they find out when you try to put in a claim, they’ll deny the claim as well and cancel your insurance!
There are two types of online insurance quote sites – carrier sites and broker sites
Home sites of insurance carriers. Theses sites provide direct quotes and often require a follow up call by a representative.
Insurance Broker Sites. The web has a number of sites that offer price comparisons among a variety of carriers. These are often independent insurance brokers who make a mark up on the sale of policies. Because their markups vary, you can sometimes get a small break on coverage prices. But at least you can see what various companies would charge you for the same coverage. And you can always go to the home site of a company whose quote looks attractive and see if they’ll match or better the independent’s quote.
Fortunately, it’s pretty easy to shop around on the Internet. There are lots of great options. Finally, make sure to check into multifamily and multi-policy discounts, and other reductions for good credit report, driver safety classes, installation of safety/anti-theft devices, etc. These are great ways to save yourself some money and use the cash you save to up the option package on that new ride.
The Devil is in the Details
There are lots of other coverage add-ons you should consider.
- Towing and Labor – pays for towing your car after an accident or jump starting it.
- Rental Car Reimbursement – pays for you to have a ride while yours is in the shop after a covered accident.
- Lease “Gap” Insurance – pays additional coverage for your leased car if it’s totaled and the lease agreement holds you liable for more than the insurance company pays.
- Aftermarket Equipment Coverage – pays for toys you put in later, like that booming sound system or video players.
- Personal Property Coverage – if you haul around expensive toys in your car, like golf clubs, cameras, sound equipment, musical instruments, chances are your auto policy won’t cover damage or theft of these items – although you homeowners or renter’s insurance may. It pays to check!
Meet Our Insurance Broker, Stan Dreckman
If you live in California, Nevada, or Arizona, you’re in luck. You can get a special deal and personal, “hands on” help from our personal insurance guy, Stan Dreckman. Stan’s been in the insurance game for more than 20 years and can get you quotes from dozens of companies. But the best part about Stan is that he’s a heat seeking missile, roaring through the insurance world seeking the best rates and the best coverage combinations. We’ve saved thousands of dollars over the years thanks to Stan. We wish we could recommend him to all of our Great Guy Life readers, but he can only do biz in CA, NV and AZ.
So if you want a great deal on auto insurance and a real person, who actually cares about old fashioned service, give Stan a call at (562) 594-6546 or click here for instant access to a quote. Make sure you mention Marc and Adam and the Great Guy Life special deal or enter Great Guy Life in the referral box.
By the way, Stan’s the man to talk to if you own an expensive boat, motorcycle or luxury car. His motto is “never underinsure your coolest toys, but don’t pay too much either.”
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