Welcome to the fast, free, and easy way to shop for insurance!
1. Don't assume any one company is the cheapest. You've heard ads, you have assumptions, but those assumptions aren't always correct. Each carrier has different formulas when it comes to drivers, locations, and vehicles. Finding the right combination for you takes a bit more effort than going to one site.
2. Don't forget regional and local insurers. We know the big-name brands but there are also excellent local and regional providers who have tailored their businesses to your area. Their limited reach doesn't necessarily mean they are more expensive either.
3. Ask about discounts. Carriers are not required by law to factor in all the safety features, good driving history, etc to build your quote. Make sure you ask about discounts for bundling, clean driving, paying the premium in one lump sum, online documents only, anti-theft and safety features, and even your profession.
4. Higher credit score = lower insurance bill. Once again those with excellent credit are rewarded here. Do yourself a favor across the board and improve your credit health.
5. Check insurance rates before buying a car. Yeah, that new V8 Mercedes sounds good but in addition to that lease payment, don't forget the significant bump in insurance rates. Sensible, safe vehicles often have the lowest insurance rates.
6. Liability-only for older vehicles. Comprehensive is usually only required when their is an active lien-holder on the vehicle. If you can afford to replace your vehicle, the savings from comprehensive to liability are significant.
7. Raise your deductible. If a high deductible is feasible, this is the easiest way to significantly lower your rate. But just like the insurance company you should be as risk-averse as possible. Don't put yourself in a bind if you wouldn't be comfortable covering the deductible.
8. Drive fewer miles? Try usage-based or pay-per-mile services. Drive under 10,000 miles a year? A pay-per-mile plan may be your best bet.