Whether you’re new to driving or just want to find the best car insurance rates, the easiest way to save money on your auto insurance policy is to shop around online.
But what does shopping around mean? How do you compare policies from different companies when they all have different terminology and coverage options?
Here are 5 tips to help you compare car insurance plans and find the cheapest one that fits your needs.
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Watch Out for Rental Cars
If you’re renting a car while on vacation, shop around for auto insurance and don’t simply go with what your credit card has offered.
If your plan costs more than $50/day, it’s worth looking at other options. You can also save by paying for insurance in advance; rates are less when you pay monthly rather than in full for a year.
Keep in mind that insurance through certain credit cards or companies may offer better coverage—but it could come with an annual fee.
In other words, find out exactly what you’re paying for and whether it’s worth it to keep buying that brand of car insurance instead of shopping around online.
Hire an Independent Agent
Although some companies offer quotes online and through their own websites, many of them don’t offer all types of coverage.
To make sure you’re getting all possible discounts, especially for a new driver or if you have tickets on your record, it’s best to go through an independent agent.
An insurance agent can find more options and explore more ways to save on premiums. Agents have access to different companies in addition to policies they represent, and they’ll be able ask detailed questions about your driving history.
They can also compare multiple policy quotes at once; most online tools can only show a few options at a time.
Shop at Discounted Sites
Finding a new policy online can help you find savings. Insurers sell their policies directly and through third-party sites, so it’s smart to look for discount codes and deals if you plan on switching carriers.
Compare what each company offers before applying for coverage by using Bankrate’s car insurance comparison tool.
Bankrate doesn’t sell insurance; we connect you with providers that best suit your needs.
However, our partners may contact you with relevant information about your quotes. Click here for more details.
Consider Bundling Insurance Policies
Whether you’re interested in saving money on car insurance or health insurance, bundling policies can be a good option for consumers looking to save money on their monthly bills.
The logic is simple: By combining multiple policies under one provider, you can likely receive a discount over what each policy would cost if purchased separately.
To find out if bundling is right for you, talk with your agent about how much it might save and how much you’d pay for additional coverage.
Look for Online-Only Insurance Deals
If you’re trying to cut costs, it’s a good idea to see if you can find discounts or ancillary benefits for being with a certain provider.
For example, some companies offer multi-policy discounts if you get both auto and home insurance from them.
Others have incentives if you bundle multiple policies together into one monthly payment. Even better? Some providers sell their products exclusively online (e.g., DirectQuote).
You don’t have to shop around town or visit local offices—just type in your information and confirm that they’re still offering a competitive price when they call you back.
The most important thing is that saving money has never been easier than doing comparison shopping online!
Conclusion
So there you have it—five tips for finding great, cheap auto insurance. We’re sure you now have a few new things in mind.
Most of these tips come down to some simple research on your part. Be diligent and ask around before making a decision—you may be surprised by what you find.
Always try shopping around first and then make sure that you are comparing apples to apples. Get quotes from at least three different providers and take time reading each policy so that you can be sure that you’re getting exactly what it is that you need.
With some careful planning, most people can find affordable car insurance within just a couple of days; for some it might even take less than an hour.
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