Car insurance comparison is something which should precede your car insurance purchase. As a car insurance shopper, it can be overwhelming to find the best car insurance quotes. However, if you won’t compare car insurance online, the premium will cost you a lot of money and/or will leave you with inadequate coverage, unless you are filthy rich!
Let’s find out the steps involved while comparing car insurance online:
- Run a search on comparison websites
You always have an option to approach insurance agents to receive car insurance quotes. However, if you compare car insurance online from a good online broking site, I am sure following this tip will make your job much easier and less time consuming.
So, these sites take your details, run them through the websites of insurance providers, and provide a series of quotes in order of the lowest premium. This will provide you a comprehensive list of quotes to choose from.
- Wait…cheapest may not be the best
Hold on…Hold on… don’t rush. Car insurance comparison should be done in a cautious way. The first thing that you would look at while you compare car insurance online is the final premium that you would need to pay. But, in case of insurance, the cheapest car insurance may actually end up providing you the least amount of coverage after an accident. This is why instead of the cheapest policy you need to find a policy that you can ‘of course’ afford and that provides the coverage that you need.
- Comparing coverage options
While you compare car insurance online, take care of the coverage options. A car insurance should protect against loss or damage to your car against natural calamities such as fire, storm, flood, etc. It protects against man-made calamities such as theft, riot or damage in transit. The car insurance also protects against third party liability. Apart from this, check the availability of optional coverages such as roadside assistance, NCB discounts and passenger cover. Before reaching a conclusion, understand your financial risk tolerance, your budget and driving habits. This way you will choose a policy and add-on covers that suit your needs.
- Comparing premiums and deductibles
Car insurance comparison also refers to careful comparison of premiums and deductibles. Before you purchase a car insurance, you need to take a decision on the amount of deductibles. A car insurance deductible is the amount of money you have to pay toward repairs before your insurance covers the rest. Increasing the amount of deductible decreases your premium. Once you have matched the coverage and the deductibles, look for discounts while purchasing car insurance. For example, No Claim Bonus rewards a good driver and reduces the insurance premium.
- Comparing Companies
Car insurance comparison is successful when you compare across reliable companies. You may get a policy which gives total coverage at the least price. Sound too good to be true? Watch out for shady, unreliable companies. Opt for a good, reputed insurance company with a good claims settlement ratio. Also factor in customer service and seek out customer reviews of the company.
Yup! Now you’re good to go. Compare car insurance online wisely and drive stress-free.