5 insurance shopping tips

Did you know that one of the best ways to cut the cost of auto insurance is to shop your policy online?

But unfortunately, a recent insuranceQuotes survey found that 60% of drivers with insurance haven’t shopped in over 6 years. Even worse, 17% haven’t shopped their policy in over 20 years!

If you were watching Full House or at a Grateful Dead concert the last time you bought insurance, it’s definitely time for an update!

While shopping for insurance might not be the most exciting product to buy, it’s important to get the right coverage at the best price.

And if you’re short on time, shopping online is a quick and easy way to make an apples-to-apples comparison for multiple quotes.

Here are 5 tips to help you get the best auto insurance online:


Tip #1: Keep a positive attitude

An online insurance form will take about 15 minutes to complete. Just remember that it’s well worth your time because you’re likely to save money.

If the entire shopping process takes you an hour to complete, and you save $200, you just earned $200 an hour, not bad! Think about all the great ways you can use your savings…


Tip #2: Be prepared

Before you request auto insurance quotes online, gather some basic information. If you already have insurance, have a copy of your current policy handy or bring it up online.

You’ll also need your driver’s license number and your VIN or vehicle identification number, which is found on your vehicle registration.

Also, have your phone nearby since some companies may contact you to verify information, so they give you the most accurate quote.


Tip #3: Buy the right amount of coverage

The purpose of insurance is to protect your assets, so make sure you have enough coverage. Each state has a different minimum requirement; however, you may need more.

For instance, if you buy $50,000 of liability, but have $200,000 in assets, you have $150,000 at risk, if you’re involved in a lawsuit and found at fault.

And if you have very few assets, you don’t need excess liability coverage. So, let your financial situation be your guide.


Tip #4: Reference your existing policy

Unless you’re shopping for auto insurance for the first time, it’s a good idea to review your existing coverages.

Use your current policy as a measuring stick and consider if there are some amounts of coverage you should increase or decrease.


Tip #5: Ask for discounts

Car insurance discounts aren’t a myth—they really do exist. Many people are missing out on potential money-saving discounts and don’t even realize it.

Be proactive and ask each carrier what discounts they offer, such as:

  • Having multiple policies, such as auto and home or renter’s insurance
  • Being a safe driver
  • Having an anti-theft device
  • Being a good student
  • Signing early, before your old policy expires

Expert Blog

Laura Adams is a personal finance expert, award-winning author, and consumer advocate. As Senior Insurance Analyst, she represents insuranceQuotes in the media and works to make sure consumers protect their financial futures by having the right kinds of insurance.

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