The 3 Keys To Getting The Best Value On Your Car Insurance

The 3 Keys To Getting The Best Value On Your Car Insurance by North Carolina LIfestyle Blogger Adventures of Frugal Mom

Have you ever noticed how auto insurance commercials on TV go out of their way to be cute, clever, and entertaining? It’s probably because they know the product itself is one of those things you’d rather not have to worry about and shop for. But like it or not, car insurance is something you have to have if you want to own and drive a car, so if you’re going to be paying car insurance bills every month, you’d better make sure you’re getting the best possible rate on your coverage. You also want to make sure you’re getting the right kind of coverage, and that it’s a good value for the money. The last thing you want is to spend money every month dutifully paying your insurance premiums, only to find out that your insurance company won’t pay to have your wheel fixed when you ran into a curb because you don’t have comprehensive coverage, or that you’re on the hook for thousands of dollars in medical bills because you were unfortunate enough to get into a collision with an uninsured driver and you don’t have uninsured motorist coverage. You may not have a talking gecko or duck around to keep you amused while you’re delving into the minute details of your automobile insurance policy, but it’ll be time well spent if you can find ways to save money or improve the coverage you’re getting. Here are a few pointers to get you started!

  1. Comparison Shop

Don’t feel like you’re stuck forever with the first insurance company you signed up with! There’s a lot of great providers out there and they’re always looking for ways to get a leg up on the competition by offering better rates, sweeter benefits, and special deals. Many providers and insurance agents are set up to provide you with price quotes from top rated companies, showing you exactly what kind of rates you’d get from each one. There are also lots of places online to look up consumer opinions and rankings of insurance companies. For example, a review of Mercury Insurance by NerdWallet shows details like their satisfaction rating, consumer issues, financial strength, and more, so sites like this can be a great resource for picking the best insurance company for you.

  1. Find Discounts

Believe it or not, insurance companies want to help you save money! A safe driver who doesn’t have to file a lot of claims is a better value for them than an accident-prone driver who pays higher monthly premiums, so if you can prove that you’re a lower risk to them, they’ll reward you with savings off of your monthly bill. A clean driving record is the best way to get discounted rates, but you can also look into options like taking a driving safety class, buying a newer model car with advanced safety features, or reducing your overall yearly mileage. You can also save by bundling auto insurance with home or renter’s insurance.

  1. Choose Coverage Carefully

Do you have liability coverage? Comprehensive or collision coverage? If you’re not sure, or you don’t know just what exactly those terms mean, you should take a hard look at your current insurance policy and make sure you’re not paying for coverage you don’t want—and that you’re not lacking coverage that you’ll need. Minimum coverage may sound enticing as a way to meet your legal obligation to insure your car and keep your monthly bills as low as possible, but all the money you save can be canceled out in the blink of an eye if something happens to your car that isn’t covered by your bare-bones policy. Picking coverage options and balancing the cost of premiums against the possibility that you’ll ever need the extra coverage is one of the most challenging parts of choosing an insurance plan that’s right for you, so lean into it and make sure you make the most informed decision you can.

If you’ve shopped for the best company, qualified yourself for every discount you can get, and carefully selected the exact coverage options that work best for you, you can rest easy and tune out the crazy commercials, knowing you’re getting a great value for every dollar you spend on car insurance—for a while, at least! It’s a good idea to review things every year to make sure changes to your situation or your companies rates and policies haven’t downgraded the quality of the deal you’re getting. Stay on top of things and you’ll always know that the money you spend on car insurance isn’t being wasted!

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