With constant advances in Internet technologies and tools, quoting car insurance is easier than it has ever been. A majority of the largest insurers in the world give consumers all of the tools they need on the world wide web to shop the rates of auto insurance, customize their policy, and purchase the policy they like the best. Using these tools can save consumers time, and in some cases, money. Just because online tools are very convenient does not mean you should overlook the importance of comparing the policies you are quoting. Here are 4 of the most commonly overlooked factors you should consider whenever you are requesting quotes for auto insurance online.
Do Your Coverage Limits Match?
The first thing you should do is check your Bodily Injury and Property Damage limits to ensure that they match. It is easy for an auto insurance company to quote you with state minimum liability limits in hopes of winning you over as a client. While state minimum limits might be cheap, choosing these limits can put you and your family at-risk. Make sure you take time to raise the limits and always compare apples to apples quotes before you assume that your quote is a lot more affordable than your current policy.
Make Sure Your Deductibles Are Not Too High
If you are opting to carry full coverage on your vehicle, it is important that you know how much you will have to pay out-of-pocket if your vehicle is damaged due to a covered claim. There is nothing more frustrating than needing a car repair that you cannot afford. This is why you need to review what deductibles you have chosen for comprehensive and collision when you are requesting a car insurance quote online. Make sure the deductibles are practical or you might be compromising your ability to pay for repairs just to save a few dollars a month.
Is the Company Financially Stable
Before you even request a quote for insurance, you should take time to research the auto insurer. You never want to purchase any type of insurance through a company that is not financially stable. If the company is not financially stable, you risk the chance of file claims that will never be covered. Use a consumer rating website like AM Best to review letter grades on each company based on their financial strength and then start requesting quotes.
Know Your Coverage Options
Just because you currently carry liability and physical damage coverage does not mean that you do not have other options. You have to consider what other optional coverages you can invest in before you reject them. Coverage options like Uninsured Motorist and Medical Payments are important. They are designed to protect you rather than third-party drivers. Make sure that you price the cost of insurance with and without these coverage options so that you can weigh the costs against the risks.
Make sure you that you consider each of these factors when quoting car insurance online. While the Internet is a great tool, consumers cannot forget to do their homework whenever they are purchasing insurance off of the world wide web.