Steps to Cheaper
Car Insurance
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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.
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Next: Determine If Your Needs Have Changed -
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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 -
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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
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Recent Comments
JOTHDELL 08:21:20 PM Apr 16 2009
I have a new car that is 5 yrs old,what coverage should I have that is the cheapestthat has the good but safe coerage.name the different coverages.
vbeek2002 08:54:47 AM Apr 01 2009
I have no problem with State Farm. My 18 month old car burned to the ground and they gave me 2K MORE than I paid for it. Of course not a WORD from Chrysler after several letters.
LMartin828 11:36:55 PM Aug 07 2008
CAR INSURANCE is not replacement cost insurance, first of all. It's actual cash value (depreciated basis). Be sure you understand that when you buy it. If you total your 1998 Toyota, the insurance company isn't going to replace it with a new 2008 Toyota. They will reimburse you based on the age, mileage, and condition of the vehicle, prior to the wreck. Also - stay away from GEICO, SAFE AUTO, US AGENCIES, etc...all those fly-by-night 800 number companies on TV and internet. They sell you state minimum limits or close to it, and if you have a large loss, say you rear end someone and cause a 4 car pileup - you are in deep do-do, because if damages/injuries are higher than your policy limits, guess who will pay for the difference? YOU! They can garnish your wages in a settlement or you can lose your house if you own one. Buy higher limits and protect your assets - DON'T SHOP ON PRICE ALONE, it will get you in trouble in the end. Also - research local agents and companies based on
LMartin828 11:10:31 PM Aug 07 2008
First of all - GET EDUCATED about insurance before you buy it! Most people think because they have insurance, it covers EVERYTHING...insurance does not cover everything people! Be real! Secondly - GET AN INDEPENDENT AGENT (not State Farm, All State or Country Companies who only represent one company). An independent local agent represents more than one company and can educate you on how insurance works and tell you what limits you need. Thirdly - stay away from buying insurance on the internet and 800 numbers on TV - they sell you BAD INSURANCE and low liability limits that can destroy your life if you cause a bad accident. Remember - you get what you pay for!!! If you pay $20 a month insurance, you probably have crap coverage!
LeePee621 11:34:47 AM May 13 2008
LOOKING FOR PEOPLE TO SECRETLY NOMINATE THEIR ROAD RAGING, AGGRESSIVE DRIVING LOVE ONES
NYC METROPOLITAN AREA FOR A MAJOR CABLE TV NETWORK
Does someone you love have terrible road rage? Is his or her horrible attitude behind the wheel causing problems in your relationship? Does their aggressive driving make you feel so unsafe that you are afraid to get in the car with them? Do you want to get them help?
A NYC production company is currently casting for a new reality TV show that aims to make the roads safer! If you know someone who needs to learn how to be a safer, calmer driver, we want to talk to you! In your email please include your name and contact information plus a brief explanation of who you are nominating and why! And please, do not tell your road raging loved one you are contacting us. There will be some compensation if you are selected.
YOUR NOMINATION MUST BE KEPT CONFIDENTIAL! NY and NJ only!
Email:
leanne.mucci@castingrdf.com
LeePee621 11:34:27 AM May 13 2008
LOOKING FOR PEOPLE TO SECRETLY NOMINATE THEIR ROAD RAGING, AGGRESSIVE DRIVING LOVE ONES
NYC METROPOLITAN AREA FOR A MAJOR CABLE TV NETWORK
Does someone you love have terrible road rage? Is his or her horrible attitude behind the wheel causing problems in your relationship? Does their aggressive driving make you feel so unsafe that you are afraid to get in the car with them? Do you want to get them help?
A NYC production company is currently casting for a new reality TV show that aims to make the roads safer! If you know someone who needs to learn how to be a safer, calmer driver, we want to talk to you! In your email please include your name and contact information plus a brief explanation of who you are nominating and why! And please, do not tell your road raging loved one you are contacting us. There will be some compensation if you are selected.
YOUR NOMINATION MUST BE KEPT CONFIDENTIAL! NY and NJ only!
Email:
leanne.mucci@castingrdf.com
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.
