Steps to Cheaper
Car Insurance
Previous-
Cassandra Shie, AOL
Have you gone shopping for the best car insurance coverage lately? If not, you may be throwing money away. The National Association of Insurance Commissioners, or NAIC, recommends that consumers review car insurance policies every year. Yet, only 20 percent to 35 percent of people actually do so. If you decide to shop around for a better deal, investigate new companies carefully to avoid any policy pitfalls.
Read the Article
Next: Determine If Your Needs Have Changed -
Getty Images
No. 1: Determine If Your Needs Have Changed
When reviewing your current policy, think about whether recent life changes might require you to revise coverage limits or to add new coverage. Factors that may cause you to reconsider the terms of a policy include events such as adding a new member to the family, driving to a different job location or purchasing a new car.
Next: Check Your Company's Discounts First -
Cassandra Shie, AOL
No. 2: Check Your Company's Discounts First
As you're shopping around, don't forget to check with your existing provider to see if you can get a better deal than the one you have now. For example, many insurance companies provide discounts to consumers who purchase multiple policies. Also, tell your current insurer about any changes you've made that could qualify you for a discount.
Next: Make Apples-to-Apples Comparisons -
No. 3: Make Apples-to-Apples Comparisons
Before searching for a better deal, understand exactly what you have with your current insurer. Once you understand your current coverage limits, make sure that quotes from potential new providers are based on the same limits and deductibles. That way, you'll get an accurate cost comparison between the old and new policies.
Next: Get Accurate Quotes from Companies -
No. 4: Get Accurate Quotes from Companies
Fast quotes are convenient, but companies need more complete information about you and your car to provide a realistic view of what your premiums will be. Your driving record, geographic location, age, gender, marital status, vehicle make and model, and insurance history can all affect your premium.
Next: Look for Quality Reputation -
No. 5: Look for Quality Reputation
Accidents happen, so do some homework to make sure the new company will deliver when you need it most. Dick Luedke, a spokesman with State Farm Insurance, says, "Find out as much as you can. Talk to your state's department of insurance about complaint ratios, ask other people that you know who filed a claim what their experience was like, and find out what you're purchasing."
Next: Make Sure You Have Continuous Coverage -
Cassandra Shie, AOL
No. 6: Make Sure You Have Continuous Coverage
Before changing insurance companies, check the end date of your current insurance policy on the declarations page. Most insurance policies end at midnight on the day of expiration. Check to make sure your new policy begins at 12:01 a.m. the next day.
Next: Most Overpriced Vehicles -
AP / AOL
Also on AOL:
Most Overpriced VehiclesBefore heading out to shop for your next car, make sure you know which vehicles make the most of your dollar. Click forward to see the most overpriced vehicles in America.
Most Overpriced Vehicles
Next: Weird Driving Laws -
Also on AOL:
Weird Driving LawsDo you think driving carefully and obeying the speed limit will keep your record clean? No such luck. Find out about some of the most bizarre driving laws as researched by DMV.ORG -- The Unofficial Guide to the DMV.
Weird Driving Laws
Next: Most Stolen Vehicles -
Also on AOL:
Most Stolen VehiclesDepending on the state you live in, your wheels may be more likely to be stolen. In Alabama, the most stolen vehicle is a Chevy full size pick-up truck. In Connecticut, it's a Honda.
Based on a study from the National Insurance Crime Bureau (NICB), we take a look at the 10 most stolen vehicles per state.
Most Stolen Vehicles
Next: More from AOL -
Most Popular Cars
Check out the top vehicles owned most by men and by women.
Most Popular Cars
Cars for Bargain Hunters
Looking for automotive bargains? Here are 20 cars, pickups, and SUVs that have discounts ranging from 29 percent to 21 percent.
Cars for Bargain Hunters
Manage Your Money Consumer Reports Smart Shopping Top 5 Tips Archive Personal Finance Advice CenterMore Insurance Features:
Recent Comments
Erikaduh 01:32:25 AM Apr 29 2008
Your not in good hands with Allstate. Like a good neighbor that bends you over Statefarm won't be there. Like a rock Prudential. So easy even a dumb cave man wouldn't insure his cave with lousy company. All the bullsh"t commercials and big time actors in their commercials can't hide the fact that these and almost all of the entire insrance industry including the health insurance companies and our own Social security administration can't hide the fact that they deny on a regular bases claims that should have been paid and cause unneccesary pain and mental distress to people who are alredy hurt. I hope they all rot in hell where they belong.
Erikaduh 01:23:48 AM Apr 29 2008
It is not just Geico that doesn't pay their claims. This is an industry wide problem that the industry does a very good job at hiding by out of court settlements with a nondisclousure attached to them. I have had problems with Allstate they are one of the worst insurers you can have. I have had problems with Statefarm, Progressive, AIG, National Grange, Farmers, First protective out of Florida, andNationwide. I have had to get an attorney involved with everone of these lying, cheating, no good companies. It is kind of funny that they all play the same denial script to a tee. Did you know that insurance companies can share your claims info and personal data amongst themselves and that all claims past and present can be gotten through something called a clue report that is run by experians credit data base. Allot of these big insurers allso use a computer program that discounts your claim for both property and personal injury by as much as 40%. The insurance companies can talk to eac
RM2KS 11:31:53 AM Apr 22 2008
I was reading up above, where some one has GEICO ins. and was not treated righ and had to go to the insurance commission. I didn't find that to be true.
I had just come back from the grocery store and my car was parked in front of my house..when a driver came around the corner and totaled my car. I not only got a rental, but within about 2 weeks, I had a check in my hands for the price they had put on my car. So, I have to say that has not been my experience with them. We have been insured with GEICO for about 15 years now. I can tell you this is not the first time they had to cove us. I will say, however that we do have full coverage, house, umbrella, cars...everything we own is insured with them. Big time lost to them if we cancel..
Fisherwl2 08:23:19 PM Apr 17 2008
I live in MI and have MEEMIC (education employees insurance). Never had a claim until my two year old car was broadsided and totaled. Quite pleased and surprised when they offered settlement for the actual value of the car. The accident was the other driver's fault and I received numerous comments that I should expect my rates to rise. Contrary to popular opinion, they didn't. Highly recommend company if eligible.
GGolds5 04:31:04 PM Apr 08 2008
I have AMICA insurance for Auto, home, umbrella. They are rated the best insurance company in the US by all standards. This has been very true for 13 years now that I've had it. My past experience with Gieco however was a nightmere and was dropped one year after getting auto insurance with Geico. I was at a light. Rear ended by a drunk driver. Only damage to vehicles. They paid and then dropped me stating that I was in the wrong place at the wrong time and that if you have an accident of any kind prior to 1 year with them you are automatically dropped. I wrote to the insurance comissioner for my state thinking nothing will come of it. To my surprise 1 month later Geico was forced to reinsure me, DROP my rates, KEEP ME insured unless they contact the insurance commission themselves if they ever want to drop me for permission. I also got back my entire 11 months of insurance premiums and an apology letter. I hear they are stil just as horrible though and to stay away from their adorable
PALLANOdd312 09:36:46 PM Mar 21 2008
I can understand having life insurance. Car insurance doesn't help unless you DIE. I don't understand why pay such high premiums. Between the gas prices and insurance premiums, what do you do......ride a bicycle???? Maybe that's what this U.S. needs, to get the fat off the hind ends.
Netexas121 11:25:35 AM Mar 13 2008
UniHughes,
I used to (key word Used to) have a close friend and acquantinces that worked at State Farm Operations. The whole company is bred on lies and back stabbing. I refuese to support this Insurance company and refrain from watching or attending events sponsored by State Farm. Also the only customers State Farm desires is "the perfect" customer which usually has a household income of 100K or more. To add insult to injury even if you are "the perfect customer" and live in a area of the country which is disaster prone they probably won't take your business or have stop supporting that state. State Farm (insurance industry leader) is one of the reason's why America is in such shambles today
JAM Wally 01:11:13 PM Mar 08 2008
How about Social Security, I turn sixty five in April. I will be paying $96.40 every month for Medicare that automaticly comes out of my monthly check, and I still have to have a supplment to cover the 20% Social Security will not pay. If you think you will never get old, at what age do you plan on leaving this earth. Because unless you die you will get old. We need to change our laws.
UniHughes 11:28:07 AM Mar 08 2008
About 10 years ago I ran over a metal object in the road. The car I was driving at the time was a new Corvette. You probably know where this is going. I submitted a claim to State Farm and they paid for a new tire and wheel. About "3 YEARS" later the agent called me and said after further review, the previous damage to my tire and wheel appears to be the result of careless driving and my rates would double as a result of my new high-risk status. I told the pukes at State Farm what they could do with their rates and went to another carrier. I not only didn't get a penalty for State Farm's claim of careless driving, but I got cheaper rates than the pre-penalty rates I was paying originally at State Farm. It pays to shop around.
THUMPY501 10:47:17 AM Mar 08 2008
I do believe insurancei is a BIG ripp off to all of us...Y___ou have to have it.But dont you dare think about using it!!!!! Know how is that the American Way.You want to really think TAXES that is a RIPP_OFF............................................................
Insurance Basics
Featured Sponsor
Insurance Quotes
Compare side-by-side rates.
Insurance Talk
Insurance stories and tips from our readers.