How to Compare Car Insurance Companies

When it comes to shopping for an auto insurance provider, it becomes apparent that not all of the policies are created equal. Some insurance companies will approve your claims with great speed and efficiency, whereas some may get on your nerves with a series of questions and paperwork before getting your claims processed. It's important to compare car insurance companies to get an overall idea of their market reputation, credibility and accountability.


Step1
Compare ratings between different companies to get an overall view of their reputation. Organizations such as A.M. Best provide ratings and analysis of insurance providers. These ratings are comprehensive and provide up to date information on each company s track record including strengths and weaknesses, coverage options and claims handling. You can also visit Standards & Poor s or Fitch ratings for more information. (See Resources, below.)


Step2
Compare the reviews of customers and policy holders. J.D. Power and Associates is one of the oldest names in customer views and reviews. Search for the company from which you wish to buy your policy. Then, go through the reviews posted by policyholders and customers to determine whether or not they are satisfied overall with the insurance company and its services. Similarly, search for other providers you might consider and compare the reviews.


Step3
Discuss insurance with your friends, family members, colleagues and business associates to get their opinion on various car insurance companies. They might have had a favorable or unpleasant experience dealing with a particular company and would be able to provide personal insights on companies.


Step4
Compare customer service options for each insurance company you are considering. Those with a large network of offices, claim centers, agents and 24/7 support over telephone as well as email will ensure that you get treated properly as a customer.


Step5
Ask the car insurance companies you are comparing for quotes with or without any claims bonus protection.


Step6
Find out if it is cheaper to pay on a monthly basis to the insurance company through personal checks or to pay it off with a credit card. Numerous insurance companies have direct or indirect alliances with various financial institutions (banks or credit card companies) which may make your insurance significantly cheaper.


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How to Compare Car Insurance Policies

Insurance policies come with many terms and coverage options. You need a bit of legal and financial knowledge to choose a policy that best fits your needs. Most insurance agents are ready to give you information about multiple options and quotes for possible coverage. But they want you to buy a policy from them, so shop around and get information from different agents.



Step1
Look at the brand name of the company while comparing quotes. A company with weight in the marketplace makes the company credible and accountable, which helps you when making claims.


Step2
Look at the deductible when reviewing the quotes. Higher deductibles usually mean lower premiums. Depending on the type of insurance you want, choose a policy based on higher premiums and lower deductibles OR lower premiums and higher deductibles.


Step3
Put all cars that you own under a single policy and check which ones offer you the lowest premiums. Also, ask about multi-policy discounts if they are available.


Step4
Compare the amount of insurance coverage of different policies.


Step5
Check for the total covered for bodily injury and liability insurance. Choose one with the highest dollar value for the best price.


Step6
Compare the levels of other coverage, such as rental cover, PIP, medical, full-glass, towing and comprehensive collision. Ask for multiple quotes with your preferred combinations and go for the policy with the lowest quote.



Step7
Check the level of coverage for underinsured or uninsured motorist.' With the number of uninsured motorists on the road, there's a good chance you may need need this kind of insurance coverage.