What to know about Auto Insurance Quotes

September 20th, 2021 by

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Looking to save on your auto insurance and you don’t have the time to call around and gather all the information to compare coverage and rates? Well, now thanks to the internet, with just answering a few questions you can have this information at the tip of your fingers. 

Before making the decision as to what is the best coverage and rates for you, Nerd Wallet suggests that you learn about insurance before you get the quotes. 

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Here are some of the top things you should know about auto insurance quotes before you shop for that new policy.

  1. An estimate of how much you will pay for your insurance policy is known as a car insurance quote.  This quote is based on a number of factors such as your age, the type of car you drive, your driving history, and even where you live. Insurers take this information and apply it to their own formulas to calculate a car insurance quote. It is for this reason that no two car insurance quotes are the same. Each insurance company calculates the quote using its own formula.  So in the end, if you are looking for the best quote for you, you will need to gather as many insurance quotes as possible.
  2. You can receive free auto insurance quotes directly online or over the phone.  If you buy the insurance, you are going through what is known as a captive agent. This is a person who works for only one company or from an independent agent or insurance broker.

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Before signing on the dotted line and opening up a car insurance policy you should do a few things:

  1. Look at the insurance companies’ history as it pertains to customer satisfaction.  There are many consumer websites that report out on insurance companies’ track records of keeping their customers happy and satisfied.
  2. Get at least three quotes online or from an agent so that you can decide if you are getting a good deal with the amount of coverage that you want.
  3. Understand coverage limits. Check that each policy has comparable liability limits and deductibles when you are comparing quotes.

Your car insurance quote can be affected by some of the following factors:

  • Personal Characteristics such as age, gender, marital status, and even your education level.
  • The type and the dollar amount of coverage you chose.
  • Your driving record and how often you drive will influence the price of your policy.
  • Details about your vehicle.  This includes the make and model, and features such as safety equipment, or a GPS system.
  • Just as in real estate, location is a factor when it comes to the cost of a car insurance policy, as well.

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These are just a few of the factors that can make influence the price of your policy.

Keeping these in mind when researching for an auto insurance quote will save you not only time but can potentially save you a lot of money on your next policy.

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