How To Compare Auto Insurance Prices

No matter if you’ve just bought a new car or you’re doing a review of your finances, comparing online auto insurance quotes can be a good way to assess whether you’re getting the most for your money. The Insurance Information Institute (III) suggests getting at least three quotes from car insurance providers. Each quote you get should be for the same set of coverages, limits and deductibles, so you can truly compare them side by side.

# how-to-save-on-auto-insuranceAuto liability coverage is required in most states. Liability coverage may help pay for car repair and medical bills of another driver if you cause an accident. Most states set minimum liability coverage limits that drivers must purchase. You may have the choice of increasing your auto liability limits and that’s a good idea. If you cause an accident and the damage exceeds your state’s minimum liability coverage limits, you could end up paying out of pocket for additional expenditures.

Whether you select the state minimums or increase your coverage, make sure the limits you set for bodily injury liability coverage and property damage liability coverage are the same for every quote you wish to compare. Bodily injury liability coverage helps cover expenses of another person’s physical injury if you are found liable in an accident. Property damage liability coverage helps pay for damages you may cause to another person’s property.

Some car insurance coverages, such as collision coverage and comprehensive coverage, typically have a deductible that you may be able to adjust. A deductible is the amount you’ll pay out of pocket toward a covered claim. Increasing your deductible can lower your car insurance premiums. However, a higher deductible means you’ll pay more out of pocket before your insurance coverage kicks in after a covered loss. When you are comparing car insurance rates, the deductibles you choose should be the same for each quote so you can make an accurate comparison.

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