One of the most annoying bills you pay every month is your car insurance. Insurance in general is a bit of a unique gamble for you and for the insurance company. Considering you’re paying a company a small amount each month to say they will cover your vehicle minus your deductible cost they are taking a risk on you and you’re taking one on them. Many of us pay for car insurance month after month for years without ever actually being in an accident or filing any form of a claim during the time we have insurance, which means the insurance company wins in the gamble.
Car insurance is unfortunately a necessary evil. While there are several motorists who are uninsured on the road, they are taking the biggest risk. When it comes to driving you might be a good, calm, conservative and defensive driver, but how about everyone else on the road? You really can’t speak for them and with the increase in distracted driving because of cell phones there are more accidents to avoid than ever before. This and the fact that its required, make having car insurance a necessary evil in your life.
When you’re searching for the right car insurance there are several things you need to do. One is to compare rates by using a free service such as EverQuote to see what the best rates you can get in your area will be. Another is to see how many discounts you can qualify for by choosing options that save you money, bundle your insurance policies and save the insurance company time and effort. These services could save you hundreds of dollars each year in premium payments to give you the lowest car insurance cost possible, which is what you want.
Once you choose the car insurance companies that look good to you it’s a good idea to see if any of them offer you additional discounts for continuing to be a loyal customer of theirs for longer periods of time. Some companies offer you a check for being a safe driver and accident free for a period of time; others use a system that monitors your driving habits to see if you qualify for discounted premiums over time. These services can eventually save you money in the cost of your insurance each month or even more if you pay for them for a full six months at a time.
Another way to choose the car insurance company that’s right for you is to learn if they offer you any forgiveness for having an accident. Unfortunately some insurance companies penalize you heavily for reporting an accident or asking about services when you’ve driven off the road or need a tow truck even if you don’t use any of their services. Other companies offer you some form of forgiveness for an accident and won’t penalize you until you’ve had a second or third accident in a specified period of time.
After taking into account all the factors for insurance you can find a great rate and have the company that’s right for you. Just like buying any other product, the lowest price isn’t always the best price, but sometimes it’s exactly what you need in order to have the payment you want to enjoy. Make sure you take all factors into account; you want to know your insurance company will be there for you if you do have an accident but you also want to pay the lowest premium price possible so that you can save on your insurance and have a lower cost for this legal gamble.