Auto IQ: Car Insurance
If you own a car, of course buying car insurance is necessary. Due to the many options available, different levels of coverage, and differing formulas and rates used by companies, it’s a process that requires some research.
Much like buying a car, where you buy your insurance can save–or cost–you considerably. Quotes on the same amount of coverage for the same vehicle can vary by as much as a thousand dollars. It’s crucial to comparison shop.
But before you talk to an insurance agent or compare quotes online, you should decide exactly how much and what types of coverage you want to purchase. This will give you a significant advantage when sifting through the many options that insurance companies will present you with. The multitude of options–especially if you haven’t prepared by deciding on your own preferences–will complicate your comparisons. You’ll have to first determine the minimum coverage legally required by your state. Then, based on your own circumstances, preferences, and budget, any additional coverage you want.
Finally, compare, compare, compare. You can get many quotes from companies online; some, however, sell insurance through local agents, so utilize the phone as well. And be sure to ask if you can get a discount by paying your insurance in full rather than in monthly payments, if you’re able to do so.
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