Anyone who has ever driven a car before remembers the rush of receiving your first driver’s license and getting behind the wheel as an independent driver, only to have it come right back down when you receive your first car insurance bill. Car insurance is not just a necessary part of the process; it’s an expensive one. At the same time, not everything in life is about saving every penny. Sometimes you get what you pay for. That’s exactly why you should remember there are more than a few ways you can satisfy your most important needs when comparing insurance the proper way.
Let’s check out three effective strategies below.
Look to Tech Friendly Companies
Car insurance has traditionally been one of the most important sub fields of the insurance industry. With significant amounts of paper, regulation, and policies that are thicker than a brick, it’s no wonder the industry is made up of outdated practices. However, there is new life being breathed into the insurance world, and with the right companies you can actually get ahead. This doesn’t mean that the car insurance industry is changing overnight. However, what it does mean, is that people are starting to see new efficiencies being created and utilized within the field.
One of the most interesting ways that insurance companies are able to get more competitive with pricing is by using new tech in their design. With strategies such as Plug Ins, you will not only find a more individualized insurance rate but you will also be able to help yourself practice safe driving habits. Technology is just starting to jump into this industry as well, so whether it is the devices that go in the car, or the technology utilized on the back end of quoting, you have a much better chance of saving money for the same coverage.
Keep It All Together
It doesn’t matter what industry you’re in because bundling it all together can and will still save you money! This is especially true for an industry that is predominantly made up of administrative duties. The more coverage you can obtain by doing the same amount of processing, the less the fixed costs will be. This is especially true in the areas of billing, renewing policies, checking out your credit history and more.
The important thing to remember is that you also save yourself time (which is technically money) when you bundle policies together. You only need to contact one company or one agent. You only need to write one check. Plus, the comfort of knowing that all of your insurance is only with one or two companies eliminates excess amounts of paperwork like when you have a different insurance company for each of your policies.
Understanding the Service
Even if you might be willing to save a few dollars to switch, you absolutely cannot afford to be stood up when a claim happens. That’s why it is so important to understand what you are getting yourself into far before you write a new policy with a new company. You might not be a claims adjuster yourself, but you can already imagine just how important it is to have the right type of help when it comes to an accident or a claim. Furthermore, you wouldn’t want to be out of luck and without a vehicle because the discount company that you switched to is taking their time to go through the claims process. Even worse than that is if your claim gets denied or you find out that the policy language actually had more exclusions in it than was originally known.
You need to understand the company you are securing car insurance with and you need to understand who pays claims (as well as under what circumstances they do) before you even think about pulling the trigger on a new quote. That’s exactly why it makes sense to compare car insurance rates with an aggregator, and then comb through any quotes you do receive with a close eye. Just because someone is going to charge you less doesn’t mean that they are actually going to give you equal coverage, let alone a better one.
Car insurance is an interesting subject. Not only are people oftentimes completely against using their hard earned money on it, but the displeasure is usually swallowed knowing it could really make an unfortunate scenario better in an instant. That’s exactly why you need to do all of the homework you can upfront, to ensure you are getting the proper coverage for you and your family, while still getting a rate you can afford.