subject: Are You Paying Too Much For Auto Insurance? Checking Current Rates Can Save You Money [print this page] If you drive a car, you need auto insuranceIf you drive a car, you need auto insurance. Car insurance isn't optional - it's required by law and to be caught without it is not only expensive for you, it's also illegal. With so many auto insurance options, spending a little time online comparing rates can save you money each month, besides giving you the peace of mind that you have the coverage you need from your car insurance.
Gathering auto insurance quotes is generally a pretty quick process - you should be able to compare at least three or four insurance company quotes in an afternoon. A great way to find affordable car insurance is to ask your friends and neighbors who their insurance company is. Or you can simply grab a phone book or start with an online search for your area, "Auto Insurance Fort Worth," for example. Make a list of insurance companies you'd like to compare and get started.
To give you an accurate auto insurance quote, the insurance company will likely require your social security number and drivers license number. They will check both your credit score and your driving record to calculate an insurance quote for you. They'll also factor in your car - an older, less expensive car will usually amount to cheap rates, while a newer, high-end car will give you a higher insurance rate. The auto insurance agent may also ask for information like your level of education and place of employment. This information may not seem connected to driving a car, but a car insurance agency may give discounts for college graduates, or they may have a relationship with your employer that can save you money. To accurately compare quotes, make sure the information you provide to each auto insurance agent is exactly the same. If you're in an accident, your auto insurance rates will most likely increase. Find out the car insurance company's policies around rate increases, or if they offer accident forgiveness.
Once the auto insurance agent has gathered your personal information, they will give you an auto insurance quote. Your monthly rate will be based on (besides the information gathered above) the deductible you choose and the amount of coverage you want. Deductibles are usually offered in $500 increments and are the amount of money you have to pay before your auto insurance policy pays. A higher deductible can help you save on monthly payments, but in the event of an accident, you'll be responsible for more of the cost.
Also consider the level of your auto insurance coverage. Some car insurance agencies offer liability only policies, which cover damages or injuries caused to a third-party by you, but don't cover you or your car. Liability only policies have comparatively cheap rates, but if you don't have enough money saved to cover yourself in the case of a car accident, it may not be worth the risk. Ask the auto insurance agent to explain your coverage options to you.
Select the policy that best meets your needs and budget. Then remember to always keep proof of insurance in your car and don't let your auto insurance lapse.
by: Zandra Cosman
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