Questions To Ask While Comparing Auto Insurance Quotes

Comparing auto insurance quotes for your car may require assistance from people you know. Here we will tell you who can help and what to ask.

Comparing auto insurance quotes is not as easy as going online, type your personal information and land the best deal of your life. To achieve what you have in mind when you first decide to do find a policy yourself, a bit of research is necessary. Here we will show you who to ask and what to ask:

Who to ask

Friends, family, and colleagues

Your friends and relatives do not necessarily have any expertise in finance or insurance (it would be great if they do), they might have some experience or tips they pick up somewhere that may come in handy when you need auto insurance quotes.

When asking them for advice, remember to be specific. One policy can be suitable for them does not mean that it will be for you too. Premium can vary greatly according to personal circumstances and among providers.

If you know someone who has been through the situation of vehicle damage or loss, his or her experience can help you a lot in deciding what coverage you need.

Financial advisors, brokers, insurance agents

Financial advisors come at a cost but they are a wealth of knowledge and experience. They may have worked with other drivers and gain substantial examples of the situations you might encounter in terms of auto insurance quotes. Do not let the fee drive you away from this option; the amount of money their expertise can help you save might well surpass it.

If you still want to save a sum of money for a middleman, see if you have any friends or relatives who work as insurance agents or brokers, bring your situation to them and ask for advice. But beware, some of them might try to steer you to some insurers that they have connections or contracts with.

Folks working in repairing vehicles

They may have personal experience or know a bunch of other folks who have had their vehicle damaged or totaled and what they and their insurance companies have done with the situation. They can introduce you to someone they know that have experienced to answer the question that is troubling you. Be careful though, people tend to be more eager to share bad memories than the good ones. Be specific about what you want to know and do not let yourself be carried away with their unhappy experience.

Insurance consultants

Consultants of insurance companies are the one who knows best about their services. When you have short-listed a few brands to entrust your money, give them a call or arrange a face-to-face meeting and discuss what you can expect from these carriers.

These conversations are not only for information but also give you an idea of how these insurers treat their customers. Nowadays, many carriers provide a Frequently Asked Questions section on their websites; you might want to go through that first to save some time.

What to ask

Here are the most valuable questions to ask your sources of information:
  • Can I drop some of the coverages? Car insurance is mandatory for drivers but it does not mean you should pay for the coverages you do not need. Review your situation each year because a lot of factors may change as time goes by. For example, full coverage is beneficial if your car is under 5 or 6 years, after that it is quite a waste of money. If your car is 10 years old and has covered a total distance of 100.000 miles, a full coverage is unnecessary in most situations.
  • What payment options do I have? It is usually less costly if you pay in one lump sum, but in order to have this benefit, you must have cash on-hand to pay out at time of need. Many insurers offer discounts for those who do. But if the yearly payment put a stress on your budget, consider paying monthly or a few times a year and find out exactly how much it will cost you. Once you have had enough information on payment, it is easier to make the decision of whether you will pay annually or monthly. 
  • Who to put on the same policy with you? Insurers prefer and have discounts for a whole family on the policy. All the coverage bundled up can save you a bunch of money each month. If you live in a nuclear family, this can be a good way to both have the coverage you and your family need and at the same time, reduce the premium. However, if your family is not exactly nuclear, say you have some roommates or live with your parents; bundle up might do more harm than good. This is when an agent, broker, or insurance advisor’s expertise come in handy. 
  • What discounts am I qualified for? This is a good way to have your policy with a reputable provider without a hefty bill. Discounts can save you a lot if you know how to take advantage of them. Your insurance advisors, agents, and brokers are those who you should bring out this question with. They have enough knowledge and experience to help you. 
  • Do I have the right coverage amount? This question is essential to decide on your deductibles. If you have a stable financial situation with assets and a substantial amount of saving, it is wise to extend your liability limits. Your policy should only cover the amount that you cannot afford. 

Post a Comment