A market with healthy competition is the basis of modern economic theories. Motorists can get great value for their money when insurers try hard to beat each other with better coverage, service and competitive car insurance quotes. However competitive markets cannot help you if you fail to compare rates from various companies to see who has the cheapest auto insurance?
Is Car Insurance Competitively Priced?
This is a highly contentious topic at the moment in the industry with federal government pushing the issue with 2% of the household income measure. Federal authorities suggest that if people have to pay more than 2% of their household income for insuring their vehicles then automobile insurance is too expensive in that area. However, many industry experts think that this measure is too simplistic and doesn’t take many factors into account including individual driving history, type of vehicle, credit score and many other circumstances.
According to Insurance Information Institute (III) on the other hand, motorists have dozens of insurers racing each other to win over customers. So, people should shop around for the best deals, instead of complaining about how expensive is their premium.
How to Find Competitive Auto Insurance Quotes
Our homepage explains what you need and how to get cheap car insurance quotes step by step. Find out there what you need to get quotes first and have them handy. Next you need to ask yourself how much auto insurance do I need? The easiest thing to do is to look at your current policy and search for the same coverage. But people’s circumstances change fast. It is always a good idea to have a look at your coverage and see if it still meets your requirements.
The next step is to start getting your quotes as fast as possible from any of the below sources. Usually it doesn’t take long. Another post on this site answers the question of how long does it take to get car insurance?
- Get Most Competitive Car Insurance Rates Online
The fastest way of getting a few quotes is online. You can use a comparison website like this one where a few companies are listed for your convenience. Our site gives you the opportunity to get direct auto insurance quotes from the companies listed on our panel. You can also find the companies on your own and visit their official sites to get online quotes.
Searching for quotes online is fast, safe and easy. You can read more on the benefits of shopping for car insurance online. Also, almost every quote source, including agents and brokers, has online presence. Most agents have online forms to fill the details they need to shop on your behalf. Take a few minutes to fill them and let them get back to you by e-mail or phone.
- Traditional Method of Using Agents or Brokers
Alternatively you can talk to an agent or broker to get quotes from. Companies like Allstate and Nationwide has large network of agents on high streets. If you want your broker compare quotes on your behalf you’d better find an independent broker.
- You Can Use both the Internet and High St Agents
There is nothing stopping you from getting a few quotes on your own online even you have a broker. In the same way, you can choose to buy your policy through an agent once you identify the best insurer using the Internet. Alternatively, you can talk to the company directly, reconfirm everything once more and buy your policy.
One of the most important issues that prevent people from finding the most competitive auto insurance rates is not sparing the time it takes. Large numbers of policyholders buy their coverage just after getting one quote. It only takes 8 – 10 minutes to get a full automobile insurance quote online. What is the rush? You can save hundreds or even thousands of dollars if you could just spare an hour or so for searching for the best value car insurance. Can you make this much money in such a short time by doing something else instead?
What to Look for when Comparing Car Insurance Companies
You need to remember why do you need car insurance? Even though it is a legal requirement in every state most people don’t insure their vehicles to comply with the laws. They do because it is good to be insured. In other words, we want to find an auto insurer that will give us peace of mind, good customer service, assurance that our claims will be paid, and great price. So, here are the things you should be looking for in your vehicle insurer.
- Low Rates and High Discounts
Probably the first thing you should know is the competitiveness of a company. If their price is far too high in comparison with similar other carriers why bother considering them at all? That is why the first thing you should do is to prepare a short list of most competitive auto insurance companies in your area.
- Good Customer Service
All the fast Internet and online services cannot compete with proper, traditional customer service. The Internet is great to source things out but you should also make sure that you can call the company to talk to an agent. Sometimes, you need extra assurance and someone to explain it to you. It really isn’t too much to ask.
- Fair and Prompt Claim Settlement
This is why you buy car insurance in the first place. After paying your premium like clockwork for years you don’t want your insurer to mess around with you when you have a claim once in a blue moon. You don’t buy insurance expecting to have a claim but if it happens you want fair and prompt settlement.
Here are the best car insurance companies in your zip code based on customer satisfaction. There are many great and highly reputable insurers around. Therefore, you shouldn’t have any problem finding the one that will offer you the best coverage at most competitive rates, all the while providing excellent customer service.
Finally, don’t give up before you find out who is the most competitive vehicle insurance company in your area. Many people get one or two quotes and think that the rest will be similar. The next quote can actually be a whole lot different than what you got and save you a lot. The only way you can truly have the best value coverage is by getting competitive car insurance quotes from several insurers and comparing them for coverage, reliability and cost.