There are three ways to make a good rate a great rate.
Looking for the best deal on the best coverage? Lots of factors affect your insurance rate – knowing a little bit more about what to look for and how you can find an excellent rate can save you money and time.
1. Getting Discount
First, let’s talk discounts. Some factors are just facts, but if your insurance company doesn’t know about them, you won’t automatically get a discount! Make sure the insurance company you select knows the following:
- If you own your home.
- If you park in a garage.
- If your car has anti-theft technology.
- If you’re still paying for your car (through a loan or a lease)
- Whether you’re married – that’s a discount!
- Your occupation or whether you are or have been in the military.
- If you drive your car for both work and personal use.
- If a teen driver on your policy is a great student or has taken a driving course.
- If you have a college degree or belong to a professional association.
- If you’re eco-minded and would like to receive paperless statements.
- Who should be included and excluded on your policy. (See next section on high-risk drivers!)
2. Staying Insured
Staying insured may seem like a specific way to get a great rate, but letting an insurance policy lapse could cause legal and financial issues that follow you for years. Driving without insurance coverage can categorize you as a high-risk driver.
High-risk drivers generally include those with at-fault auto accidents, multiple tickets, DUI/DWI convictions and very poor credit.
You can overcome all of those things with time – and find affordable insurance too – but maintaining insurance coverage is an easy way to avoid an unnecessary high-risk designation.
3. Comparison Shopping
Now here’s where RateQuote can help: Comparison shopping is the simplest way to make sure you’re getting the best rate possible.
Besides being proactive and savings-minded, the other times you should comparison shop for rates are when you experiences major life changes related to your policy – a move, a new car, a new driver being added to your policy.
You’re never penalized for looking for car insurance rates – you can search every month to make sure you have the best rate possible. If you find a better rate than what you’re paying, you can even switch that day.
You have the right to cancel your existing policy at any time. Typically your existing insurer will pro-rate or refund the remaining balance. Sometimes they’ll charge an administrative fee if you cancel before the official end date of the policy, but shopping around could save you hundreds of dollars a year, so take the time to do the math and weigh your options.