Sunday, February 03, 2008

How I found the Cheapest Auto Insurance Quotes

This article i hope will be informative and a touch personal, but will give you the steps and knowledge needed in order to cut through all the online insurance jargon and information overload. Its actually not that difficult to find a low/cheap insurance quote and reduce your auto insurance cost to rock bottom. OK, lets get started.

Step 1 : Determine your Auto Insurance Needs ?

First and foremost, you must remember that not everyone is looking for the same level of insurance coverage. Most of the USA requires you to have liability insurance. This insurance is divided into three categories:

1. Personal injury protection - pays your medical expenses and your passengers medical expenses if you're in another car or are walking.

2. Property damage liability - pays claims made against you if you damage someone's car or property.

3. Bodily injury liability - pays claims made against you if you injure or kill someone. It also covers family members living with you, and pays your legal fees if you're sued.

Coverage that's not mandatory in most states but is good to have includes:

Collision coverage - pays for damage to your car caused by another car no matter who was at fault, or damage caused by any object .

Comprehensive insurance - pays for damage to your car from fire, theft, vandalism, and acts of nature (hail, wind, etc.).

Uninsured/underinsured motorist coverage - pays for you and your passenger's medical bills and any property damage caused by an uninsured, underinsured or hit-and-run driver.

Step 2 : Determine the Level of Auto Insurance Needed ?

Most people take Collision Coverage with a $500 deductible, which means if you get into an accident your insurance company will ask you to pay up to $500 in damages and the insurance company will cover the rest. If you want to take more risk, and therefore reduce your monthly insurance rates you may want to increase your collision deductible to $1000. That is what I did and got my insurance rates lowered.

The same risk/lower insurance rate scenario goes with Comprehensive insurance. It is also recommended for some people to consult an insurance specialist in your area. its always good to get advice.

Lets continue with trying to further reduce your monthly car insurance cost. I'm going to list a few other things that you can do to help lower your auto insurance bill :

1. Take an accredited driving safety course.

2. Install an Engine shut off security alarm system.

3. If purchasing a car, check with local police to make sure the car is low on the theft meter.

4. Amalgamate Car, Home, and Personal Insurance under the same insurance company for volume discounts. (I implemented this strategy a few years ago).

I urge everyone who reads this article to provide additional ways and input on how to further lower our automobile insurance cost.

Step 3 : Where can I get low cost automobile insurance rate quotes?

The easiest way to find low cost automobile insurance rate quotes is to go to an insurance comparison website. There you can get quotes from a number of insurance companies so you can compare them and get the cheapest rate.

Some of these sites even have an online chat feature where you can get answers to your insurance questions from an insurance expert.

When i was looking for car insurance quotes, i clicked on a website link for auto insurance quotes and got the top 5 cheapest insurance quotes, this was a good starting point which allowed me to determine approximately my monthly average auto insurance cost. I then incorporated most of the points discussed above to lower my insurance rates to rock bottom.

Please list any additional ways you have reduced your auto insurance rates, so other "Hub Members" can benefit.

Sincerely Yours,

David McEachrane

Honours Business Administration



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