Comparing Insurance Rates – What’s the Best Way to Do It?

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Why should you compare insurance?

Many people buy insurance policies simply because they see a cute ad on TV or a friend recommended them. This is a costly mistake. There are many ways that different companies rate applicants. You should determine which one is best for you.

My opinion is that you should always shop around before buying. Our insurance premiums make up a large portion of our local budget. You could be spending thousands every year on your insurance premiums for auto, home, life and heath. You have the opportunity to reduce your monthly bills and get better coverage.

Examples to Illustrate Why You Should Compare Policies

An example illustrates the importance of comparing plans and quotes. A few years back, I was extremely satisfied with my auto policy and company. My experiences with the company were excellent. I was with them for many years. The premium seemed fair to me. When I needed to file a claim, I received excellent customer service.

However, when I tried to add my teen driver to my family insurance, the old company tripled my rates! They refused to give me a better deal, even though I tried to talk with them. They told me that my teenage driver was high-risk and that insurance would always be costly.

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I didn’t accept a high price and instead sought out competitive quotes from several major companies in my local area. One company I was familiar with offered me attractive discounts. I was given a quote that combined my auto and home policies, which resulted in a savings of $200 per month.

Two hundred dollars per month saved me over $2,000 per year. I thought that the savings were worth spending a little more time shopping.

How can you start comparing insurance policies?

You probably found your policies confusing if you’ve ever looked at them. There are many factors to take into consideration. You’ll need to choose the type and amount of coverage you want, as well as the deductible and what features to accept/reject.

It used to be difficult to compare companies. You would have to make appointments with several agents, listen to presentations and take a lot of time. Many of these agents had an agenda. They were trying to sell you their company. It was impossible to be certain that you were receiving impartial advice. This made it difficult to compare companies and was stressful.

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Many people don’t do enough research on this purchase because it was so difficult to compare policies. Many people still believe that shopping for a new insurance policy is the best way to go.

Compare Insurance the 21st Century Way!

The 21st century brought us the Internet Revolution. High-tech quote systems can now be accessed from any computer that has internet access. There are some quick and easy forms you can use to get a quote in a matter of minutes.

  • You should look for a quote tool that compares multiple insurance companies. Secure servers are also recommended to ensure that your data is protected. A third party verification such as the Better Business Bureau can help you find out if others have been satisfied with this service. This information should be displayed before you submit the quote form.
  • The online quote request takes less than five minutes. Some details will be different depending on the type of insurance that you choose. Additional information such as your zip code will be required.
  • Once you have completed the form, you can compare multiple insurance companies and/or policies. It is important to have a contact number and an email address so that representatives and agents can respond to your queries. Sometimes, you can do your transaction online or by phone.
  • There should be no obligation for you to buy an insurance policy. You can keep your existing policy, continue shopping or buy a policy with one of the insurance companies you see in your quote.
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Combining Expert Advice and Technology

You can use the online system to match you with companies that are good for you. If you have any questions, you can call or email them to get answers.

Personally, I enjoy using the computer systems to narrow down my options. Before I make a decision, I like to talk to someone at the company. I don’t just care about the price, but I want to be able to trust that I will be dealing directly with friendly and helpful people.

These systems are completely free and you don’t have to buy a policy through any of the participating insurers. They are easy to use and don’t cost anything. This is a great way for you to save time and money when comparing policies.