Comparing car insurance quotes can help you find the right coverage. But it’s about more than just the price. You’ll want an insurance company that’ll be there for you when an accident or mishap occurs, at the moment it truly counts.
Are you getting the protection you need at a price you can afford? Keep these tips in mind as you compare your car insurance options:
Understanding What Shapes Your Car Insurance Quote
The first step is to grasp what actually goes into an auto insurance rate—how insurers gauge your risk and set your premium. Here are just a few elements that can influence your car insurance cost:
- Your Vehicle: This includes its make, model, age, and other characteristics.1 Newer cars often feature advanced safety technologies, which can make them safer.2 However, these new technologies might also lead to more expensive repairs if you’re involved in an accident.
- Your Location: The state where you reside and where you typically park your vehicle plays a role. Your premium could be higher or lower depending on your home state.
- Your Driving History: This covers your claims record, any traffic violations, and how long you’ve been a licensed driver.3 If you’ve been in accidents recently, your premium will likely be higher than someone with a clean record.
- Annual Mileage and Driving Behavior: The number of miles you drive each year and your habits behind the wheel can also affect your rate.4
- Your Chosen Deductible: The auto deductible you select will also impact your premium.5 A lower deductible means you’ll pay less out of pocket if an accident happens. Conversely, choosing a higher deductible can lead to a lower car insurance premium.6
Before You Start Your Research
Assess your insurance needs before you begin comparing quotes. A good starting point is to determine your state’s minimum financial responsibility limits. Opting for coverage amounts beyond these state minimums can provide you with greater protection, and your insurance representative can help you secure the appropriate coverage for your specific requirements.
How much additional liability coverage should you consider? Do you also want comprehensive and collision coverage? (These might be mandatory if you’re leasing or financing your vehicle.) You should also think about helpful add-ons like rental car coverage, roadside assistance, and more.
Don’t forget to factor in your budget, too. What deductible are you comfortable affording?
Shopping for Car Insurance Quotes
Gather your current insurance policy documents (for comparison’s sake) along with all the personal information insurers will likely request.7
You’ll probably need details about:
- The car insurance coverage you’re looking for.
- Your car’s mileage, Vehicle Identification Number (VIN), make, model, year, and security features.
- Your driver’s license number (and those of any other licensed drivers in your household).8
- Information on any accidents or moving violations that you or household members have had in the past few years. You might need to provide up to five years of accident and violation history.
Keep in mind that insurance can be intricate, so consulting an independent agent or going directly through an insurer’s website can help you find the coverage solution that’s right for you.9
Comparing Coverage Level and Cost
When evaluating your quotes, make sure you’re considering information that truly suits your individual needs. Each quote should feature the same deductible, limits, and coverages.10 For the easiest comparison, view them all side-by-side. One effective approach is to review your auto insurance declarations page and use it as a reference. This page typically includes crucial details such as the insured person’s name, address, policy period, policy limits, coverages, and more.11
As you consider your coverage needs, be sure to also evaluate the other valuable benefits an insurance carrier provides, such as good customer service and the quality of their products.
Don’t forget to read the fine print. Check the deductibles for the comprehensive and collision portions of the policies (sometimes these vary) and confirm there aren’t any additional coverages or exclusions that differentiate the quotes.
Most importantly, ensure each quote provides the coverages you need at a price you can comfortably afford.
Strategies to Lower Your Quoted Premiums
Not seeing quotes within your desired price range? There are several ways you can try to reduce those premiums and make coverage more affordable.
Look into the car insurance discounts each insurer offers. Most insurance companies provide discounts for things like:
- Bundling your policy with other products (like home insurance)12
- Multi-car policies
- Good student status
- Being a safe driver
- “Pay How You Drive” telematics programs
Ask each carrier what discounts you might be eligible for and factor these into your quotes.
Looking Beyond the Premium
Money isn’t the only thing that matters when insuring your vehicle. Beyond your quoted premiums, you should also consider a carrier’s customer service, its overall reputation, its financial ratings, and more.
Consider checking in with your insurance representative about once a year to ensure your coverage remains current and that you’re benefiting from all available auto insurance discounts.
Ready to Shop for Car Insurance?
If you’re currently shopping around for car insurance, we can assist you. To learn more about our car insurance products, reach out to a local independent agent or a Travelers representative to get your personalized car insurance quote today.