Shopping for car insurance 101:
Shopping for auto insurance can potentially save you more, but it can feel daunting — especially if it’s been years since you last looked for a better rate. However, all you need to shop for car insurance is a little info, an idea of what coverages you need, and a few spare minutes to compare quotes. Here at Capital Insurance Service we try to make it extra easy for you to find the best quotes at the best rates. “We are One company, with many choices”
Are you asking yourself when the best time to shop around for insurance is?
Quoting car insurance at least once a year can be beneficial as rates change frequently. If you’re paying too much, don’t wait to switch. Your current company will refund you the unused portion of your policy when you cancel. Just make sure you’re covered with your new company before cancelling. Adding a teenager to your family policy is also a good time to shop for auto insurance, as you may find an insurer that offers discounts for teen drivers. *We offer multiple teen driver discounts as well as good grade discounts for teens!
What you need to quote and buy car insurance
Before you start shopping around for auto insurance, you’ll need a few pieces of info in order to get an accurate quote, including:
- Your car’s make, model, and year: You’ll usually only need this and your address to get an accurate quote. A vin number would be awesome at the time of the quote since it makes the quoting process smoother!
- Your driving history: Providing an honest account of tickets or accidents you’ve been in will increase the accuracy of your quote.
In order to purchase a policy, you’ll typically need one or more of the following for verification purposes: driver’s license number and vehicle identification number.
Always keep in mind that prices can vary based on how you buy.
How to compare car insurance rates
The best way to shop for car insurance is to get a handful of quotes from different companies and start comparing costs and coverages. Pay attention to these four aspects as you go:
- Deductible
The higher your deductible is, the lower your rate will be. However, you should always make sure your deductible isn’t so high that you’d struggle to pay for repairs before your insurance kicks in. You’ll typically pay a deductible for comprehensive, collision, and gap coverages.
- Coverage types
A liability-only policy will grant you a cheaper rate, but it might not satisfy your needs. If you lease or finance your car, your lender will require comprehensive and collision. Some lenders may even mandate a certain amount of liability coverage over the state minimum. Even if your car is paid off, you should consider comprehensive and collision coverage if your car is new to avoid paying an expensive repair bill yourself.
- Coverage limits
This is the amount your insurance will pay out for a bodily injury or property damage claim. Selecting your state’s minimum liability coverage will reduce your rate but might not be enough to satisfy what you owe to the injured party. Use a coverage estimator to get an idea of how high you should set your limits.
- Premium
This is your bottom line — exactly how much your insurance will cost per payment cycle (options for payment frequency will vary).
If you already know the coverages and deductible amount you want, then make sure each quote includes them so you can make a true comparison. If not, you can vary each quote to see how your rate changes when additional coverages are added.
TIP: As you shop for auto insurance, keep in mind that the cheapest policy isn’t always the best choice. Rather, the best policy is the one that satisfies all of your needs for the lowest possible price.
Please allow us to provide you a quote or if you are already one of our valued customers we will be able to re-quote you and perhaps find you a better rate!
