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Online Auto Insurance Highlights the Importance of Comparison Shopping
Completing a comparison of various car insurance carriers is a vital step to finding affordable rates.
Online PR News – 10-May-2010 – Comparing quotations from multiple companies is one of the most effective ways to find the best deal on automobile coverage and taking the time to compare rates from various insurers can lead to big savings. With so many providers that are licensed in a given area, completing quote comparisons is an important step to finding the most affordable premiums.
OnlineAutoInsurance.com strongly encourages motorists to complete an auto insurance quotes comparison in order to help ensure that the lowest rate is found from a reputable company. Consumers should be aware that each carrier has different pricing and each applicant will pay a different amount for the same coverage based on various factors. Therefore, no single insurer can be cheapest for all drivers and the consumer must take the time to seek out the best price for them particularly; a recent study showed that premiums can differ up to 200% for the same product.
Comparing rates is also advised by government consumer guides. A consumer’s guide provided by the Maine Bureau of Insurance states, “Comparison shopping takes time but it will save you money. The only way you can make sure you are not paying too much is to shop around and find out what different companies charge for the same products and services.”
Source: http://www.maine.gov/pfr/insurance/consumer/auto.htm
Although it does take some time to complete an effective comparison it is well worth it and may be done quicker online; many insurers offer rate quotes on their websites and a comparison website can offer quotations from several companies to compare from.
Lowest and cheapest car insurance comparison from Geico, Allstate, Progressive, and Nationwide.
Which company has the best price on auto insurance?
An easy way to save money without much effort is by changing your car insurance provider. It is always a good idea to shop around for the best coverage at the best price with it is time to renew your car insurance policy
. For most people, this means every six months.
Shopping around for auto insurance does not have to be as difficult as you may imagine. There are a few primary factors that you should consider while shopping for car insurance. These factors are type of coverage, coverage amounts, premiums, and deductibles. Here is a brief description of these terms:
Coverage: Liability or Liability and collision? Liability covers the expenses of the other vehicle(s) involved in an accident if you are at fault. Liability does not cover damage expense to your vehicle.
Coverage amounts: This is usually presented as three numbers such as 30/60/30. The numbers represent bodily injury per person, per incident, and property damage respectively.
Premiums: Simply how much you are to pay each month or every six months
Deductibles: Your out-of-pocket expense if you are ever involved in an accident.
Compare these factors with insurance companies such as Geico, Allstate, Progressive, and Nationwide to get the bet price on auto insurance.
Car insurance premiums fluctuate daily between car insurance companies. This is why it is always a good idea to check back every time your policy is up for renewal because you will find that the insurance company with the lowest rates will most likely differ every time that you call.
For more great tips on how to save money on common every day expenses such as car insurance, check back with Healthy Financial Habits. Our team is dedicated to helping you save money.
Author: Mike Smitt
Source: www.healthyfinancialhabits.com