Obviously, it’s unethical to knowingly give false information when obtaining a car insurance quote. But there are two more practical reasons for being truthful.
1. The insurer will check your personal and driving records anyway to verify the information you have submitted.
2. If you do manage to secure a policy with inaccurate information, it’s quite possible that your coverage would be voided when you file a claim if by doing so your lie gets brought to light. And that could leave you in a lurch.
Thankfully, there are legal and principled ways to get the lowest auto insurance quote possible. Here are eight suggestions:
1. Plan before you search. You first have to know what you need before you go looking for it. So figure out whether you only want the minimum liability coverage required by the state, or if you want collision, comprehensive, uninsured motorist, or other policies. If you already have auto insurance, have your policy in front of you while conducting your search.
2. Figure out how much you drive. Don’t just “guesstimate.” Use mapping software to figure out your round-trip mileage from work, school, and/or regular errands. Although you can’t foresee every car trip you’ll take, you can get a pretty good idea of the number of miles you drive in a year — which you will be asked to provide.
3. Experiment with raising your deductibles. If you’re willing to pay $500 or $1,000 for each insurance claim instead of $100 or $250, auto insurers will reward you by offering you a lower rate.
4. Consider paying up front. Likewise, auto insurers prefer to have their money in advance. So if you have the financial ability to submit six months or a year’s worth of premiums in a lump sum payment, your quote could be reduced by as much as 10% to 20% than if you paid in monthly installments.
5. Look for bundling opportunities. Determine which companies already underwrite your homeowner’s, renterâ€™s, motorcycle or other types of insurance. If these insurers also offer auto coverage, they’ll probably offer you a “bundling” discount if you give them even more of your business.
6. Search for discounts. There are plenty of different discounts available on auto insurance. Purchase an anti-theft device for your car or you may qualify for a rate cut if you’re a member of a credit union, trade group, auto club, or labor organization.
7. Look into pay-as-you-drive insurance. It’s the newest trend in auto coverage. You agree to install a small device in your vehicle that tracks your driving habits and behaviors, and your insurance company sets your premiums based on how you actually drive. This is especially attractive to safe drivers who are in high-risk demographics.
8. Get several quotes from different companies. The Internet has made it so easy to obtain multiple insurance quotes in a short time period. So it pays to shop around, since different companies will offer widely varying rates for the same driver. At Auto Insurance Specialists, we can do the shopping for you. We give you multiple rates from our top-notch insurance partners, all in one phone call or a visit to our website.
This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverage’s in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.