5 ways to compare car insurance companies based on the most important factors
When you’ve already reviewed great auto insurance comparison quotes and like several prices that are close or equal, you need to choose the best auto insurance company based on additional factors. The funniest commercial really should not be one of them.
Car insurance companies evaluate and attract drivers differently. Some companies focus on families, some in older drivers, plus some with tarnished driving records. So comparing auto insurance companies is just as essential as comparing car insurance quotes.
That will help you make an informed decision, Insurance.com offers five methods to compare car insurance companies and discover your best match.
Compare Financial Strength Ratings
Consider insurers’ financial strength ratings. As a final check, you can take a look at the A.M. Best and Standard & Poor’s ratings. Both companies publish financial strength ratings for all insurance companies – these “measure” an insurance company’s ability to pay out a claim (they have nothing to do with the way a company treats its customers).
2. Review Their Customer Service
Comparing car insurance quotes is one thing, but what about customer service? When you need to talk to the company, they have to be there. Look for customer service hours that fit your schedule, a call center that wins awards, and fast online or local claims service.
3. Research Coverage and Payment Options
Does the company offer the coverage and payment options you need? Make sure you compare whether the company offers things like Rental Reimbursement coverage and Roadside Assistance, if those are important for you. Also be sure to compare payment options. If you need automatic withdrawal or credit card payments, the availability of these options could swing your decision.
4. Ask Friends and Family
If the car insurance companies you’re comparing still look the same to you, ask your friends and family. Ask around on social networking sites for people’s experiences with each company. And don’t be scared off if you or others haven’t heard of a particular company before. If the company is strong and well-established, is well-rated, and has the options you need, find out more. Remember: advertising doesn’t make a company good; nor does lack of advertising make a company worse.
5. Read Customer Reviews
Websites like JDPower.com, ConsumerReports.org and FreeAdvice.com maintain customer satisfaction surveys and reviews from users on their experience with car insurance companies. You can use these to get a good idea about what problems you might expect. And state departments of insurance have a lot of information on the insurance companies that operate in your state. There you’ll find consumer complaint ratios that will tell you how many complaints a car insurance company has received per 1,000 claims filed.
You can also find out a lot about the insurance companies that insurance.com represents on our website – everything from financial stability ratings to size and the states they service. So shop, compare quotes – and companies – and buy the policy that fits you best, in less than 10 minutes.
More Tips
1. Raise your deductible: The fastest, easiest way to save money on your insurance coverage is to increase your deductible. By upping your deductible from $200 to $500 can save you as much as 30 percent on your comprehensive and collision coverage.
2. Know what your vehicle is worth: Your auto insurance company won’t pay more in repairs than your vehicle is worth. So if you’re driving around within an old car that’s not worth lots of thousand dollars, you should consider dropping your collision coverage. Particularly when you factor in your deductible.
3. Make certain your have the right coverage: You might be tempted to get minimum auto coverage to avoid wasting money. But you could be putting yourself in danger. If you hit an expensive car, result in a chain reaction pile up, or cause significant damage to property, your current coverage may not be enough. The insurance coverage Information Institute recommends you have at least $100,000 of bodily injury protection per person and $300,000 per accident. In case your net worth is more than $300,000, consider buying additional liability protection today.
4. Go for at least 3 quotes: If you’re only you get one quote to compare with your current policy, you’re most likely not going to get the best deal. There are a lot of companies available and they all have their own unique method of determining rates. Multiple car insurance quotes will give you a better chance to make the right choice. Be sure you have your current policy handy to help you compare apples to apples.
5. Consolidate: Buying your car insurance and homeowners insurance from the same company usually can save you money on one or both policies.
6. Get that which you deserve: When getting a quote make certain you’re getting credit for all the discounts you that you qualify. Most companies will discount your rate for those who have more than one car on your auto policy or maybe your car has safety features like air bags, automatic seatbelts and anti-lock brakes. Some companies have discounts for young drivers who bring home good grades or complete driver education courses.