7 Tools Available to Help You Compare Auto Insurance

The Internet is a remarkable repository of information for the insurance shopper. Informed insurance seekers will use every possible tool to evaluate the auto insurance policies available. Comparing auto insurance companies requires patience and endurance. Every insurance company will offer a different combination of coverage and discounts. Automobile insurance is designed to mitigate the risk of loss when unexpected events occur.

Enter your ZIP code into the FREE  tool to find and compare auto insurance policies!

Wise drivers will carry sufficient insurance to prevent financial hardship following loss. Those who cannot afford to cover a high deductible should not set the deductible on the policy above the affordable level, usually $500. Annual premiums will be higher for the privilege of carrying a lower deductible, but financial hardship must be avoided. Minimal insurance coverage is not wise for anyone with an expensive car or an automobile loan. Lenders can call the balance of a loan if they determine that the vehicle is not sufficiently insured.

IIHS.org

The Insurance Institute for Highway Safety is the organization that tracks actual accident, injury and theft statistics for every vehicle make and model. Insurance shoppers can visit the website and enter the model year in the small window on the right side. Every make and model is listed on the report according to the vehicle classification. Passenger cars are first on the list because of the number of models that fall into this category.

Vehicles that are classified as “substantially worse than average” will incur higher insurance rates for the owner. Risk of loss is rated by each insurance company and annual premiums are set accordingly. The savvy automobile shopper will select a vehicle that is less costly to insure.

A.M. Best Company website

Founded in 1899, by Alfred M. Best, this respected third-party industry watchdog has been providing ratings and evaluations of insurance companies for more than a century. Insurance shoppers can find objective information about any insurance company in the United States. Insurance policy comparisons must include detailed investigation of each insurer.

Under the Ratings and Analysis section of the website, the visitor can find financial strength, issuer credit and debt ratings for every insurer. A report for each insurance company will reveal the claim payment history and the customer service rating. Consumers want to know how well claims will be handled following a loss and A.M. Best gives them that.

Auto insurance quotes

Websites that provide insurance quotes are designed to establish direct contact between consumers and certain insurance companies. Only the insurance companies that accept the criteria provided through the website form will respond with a possible quote. Quote seekers must take many additional steps in the quote process to complete the actions required to find the right auto insurance policy.

Comparisons of multiple quotes provides an accurate assessment of the cost of insuring specific vehicles.

Driver profiles are important in the quote process.

Anyone with multiple moving violations or accidents on the record will see rates increase during the quote process. Every number on the quotes must be identical to provide an accurate comparison. Some insurance companies lower the coverage amounts and raise the deductible to display a low annual premium amount. Wise insurance shoppers will not fall for this technique.

Calculators

Some websites ask a series of applicable insurance-related questions of the visitor. Each level of questions is more detailed than the prior questions. At the end of the process, the insurance shopper is connected with insurance providers.

These calculators provide detailed information to the insurer, which eliminates some of the later steps in the quote process. Some users do not like this process because of the uncertainty about the recipient of many personal details. Insurance companies favor these sites because of the quick elimination of customers that do not meet theirunderwriting criteria.

Reviews

Online insurance company reviews are an excellent source of information for the savvy auto insurance shopper. Opinions provided by other people will reveal the actual experiences of a company’s customers. Customer service experiences are the most popular topics in auto insurance reviews. Reviews might not agree with the customer service ratings from watchdog groups. Insurance shoppers will find a wide variety of positive and negative reviews about most insurance companies.

Careful comparison of the insurers should include a search for reviews from multiple sources. Reviews on the company website might provide a complete selection of reviews. While the information is not official, the potential customer can acquire valuable insight that is provided from actual policyholders.

Charts

Web pages have been created to provide visual charts that contain insurance companies listed down the left side.

The chart has multiple columns that list specific answers to popular questions.

Insurance shoppers will find accurate comparisons for multiple insurance companies. Knowledge of which insurers will underwrite policies in the shoppers location is essential for using the charts.

Insurance companies create charts that compare rates for certain drivers and vehicle models. These charts reveal the differences between the annual premiums offered for each driver. Disclaimers on the websites allow the insurance company to change the rates throughout the quote process for a specific customer.

Savvy insurance shoppers will create a chart, or spreadsheet, that organizes the essential information from the quotes received from the insurance companies. Creation of the spreadsheet allows the consumer to study the differences and track the answers to questions throughout each round.

Interactive sites

Quote websites have been enhanced to allow the insurance shopper to change various attributes of the insurance policy. Each change evokes a response from the website that will include changes to the coverage and annual premium. Final quotes must be acquired from the insurance companies because of the many variables associated with the underwriting process.

Final Evaluation

Persistence is the key to completing an effective auto insurance policy comparison. Savvy insurance shoppers will set aside time to spend on investigating vehicles and companies. Careful examination of every quote will reveal the nuances of each policy. Discounts must be pursued with diligence because every insurance company has a different emphasis on the discounts offered.

Multiple questions will yield more discounts from the insurance company representative. Insurance shoppers are wise to remember that insurance is designed to mitigate the risk of loss. Sufficient insurance coverage that is made more affordable through discounts is essential to the policyholder’s peace of mind. Check out the FREE comparison tool below to find and compare discounted auto insurance policies!