5 steps to choosing the right car insurance coverage
Finding the best car insurance coverage sounds like a bit of a chore, but it can be satisfying when done right. Saving money usually is, and that’s what you get when you find the best coverage.
But the bestcoverage isn’t strictly about money; it’s also about protecting you where you need to be protected. The bestcoverage is the one the finds a balance between protection and sparing all unnecessary payments. So how do you find this level? Begin with the following tips.
Determine your needs
There are many variations of auto insurance coverage. Some might be suitable for your situation while others offer coverage that is too little or over the top.
Assess your needs based on your driving habits (do you commute every morning, do you regularly drive long distances, does your vehicle mostly sit in the garage until you need it every now and then?) and find a policy conducive to your situation.
Perform an insurance review
It’s always tempting to automatically renew your policy. Insurance is rarely a hobby for people, so doing nothing always seems more appealing than doing something. But this mindset leaves a lot of money on the table. Even if you got the best deal possible when you purchased your policy, something better might be out there now. Even comparable options with other providers can be used as leverage to score a discount with your current provider.
A good time to perform an insurance review is a month prior to the renewal of your policy, or around your birthday. The start of a new year is also good, so there is no time like the present.
Compare your options
Comparison shopping can be part of a review, but is also a standalone action worth taking if you’re not keen on investing much time. Use Insurance Hunter’s car insurance comparison tool to instantly see quotes from multiple providers. If the cost for the same coverage is less than what you pay now, make the switch. It’s quick, easy and worth it.
Look for ways to save money
If you ask people about the factors that influence car insurance premiums, most will say driving record. An oft-overlooked factor is credit score.
While your credit score has no bearing on the likelihood of you getting into an accident, it does show insurance companies how reliable you are when a payment is due. Insurance companies want as many reliable clients as possible and will sometimes offer discounts to those with sparkling histories. Other factors, like a change to your circumstances may also impact the financial part of your policy.
Do what you can bolster your score. It isn’t always easy to instigate a quick change, but the effort is worthwhile, considering discounted premiums are just one of many benefits to having strong credit.
Report changed circumstances
In part, this comes back to determining your needs. When your situation changes, so too might the way you use your vehicle. In turn, you may not need the same level of coverage you've grown accustomed to.
But reporting changes, either to your lifestyle or vehicle, is also about the money.
Discounts are available for various reasons. If you ask your provider about them. Going a duration without making a claim, reaching a certain age, fulfilling training requirements can all help you reduce insurance costs can all net you some savings. But often times, when you meet the criteria for a discount afteryou sign your policy you will not receive any benefits unless you bring the change to your insurance provider’s attention.