If you are doing an annual review of your finances or if you just bought a new car, comparing car insurance rates can be a good way to evaluate if you are getting more for your money.
The Insurance Information Institute (III) suggests getting at least three quotes from auto insurance providers. Every quote you get should be for the same set of coverages, limits and deductibles, so you can actually compare them side by side.
At GUARDIAN INSURANCE AGENCY located in Fairburn, Lagrange and Norcross, we give you some important information on how you should compare your auto insurance rates:
1. Set similar deductibles:
Some car insurance coverages, such as collision coverage and comprehensive coverage, typically come with a deductible that you may be able to adjust. A deductible is the amount you'll pay out of pocket toward a covered claim. Increasing your deductible may lower your car insurance premiums. However, a higher deductible means you'll pay more out of pocket before your insurance coverage kicks in after a covered loss.
When you are comparing car insurance rates, the deductibles you choose should be the same for each quote so you can make an accurate comparison.
2. Select appropriate liability limits:
Auto liability coverage is required in most states. Liability coverage may help pay for car repair and medical bills of another driver if you cause an accident.
Most states set minimum liability coverage limits that drivers must purchase but have the option of increasing your auto liability limits. If you cause an accident and the damage exceeds your state's minimum liability coverage limits, you could end up paying out of pocket for additional expenses.
Whether you select the state minimums or increase your coverage, make sure the limits you set for bodily injury liability coverage and property damage liability coverage are the same for every quote you compare. Bodily injury liability coverage helps cover expenses of another person's physical injury if you are found liable in an accident. Property damage liability coverage helps pay for damages you may cause to another person's property.
3. Choose the same coverages:
To accurately compare car insurances rates, make sure you've selected the same set of required and optional coverages for each quote you get.
- Liability coverage: May help pay for another person's property damage or medical bills if you cause an accident.
- Uninsured and underinsured motorist coverage: May help protect you against damages caused by a driver without insurance or not enough insurance.
- Medical payments coverage: May help pay for medical expenses if you or your passengers are injured in a car accident.
- Personal injury protection (not available in all states): May help pay for hospital bills, lost income and even child-care services if you're injured in a car accident.
- Comprehensive coverage: May help pay for damage to your car not caused by a collision. Coverage may include theft, vandalism or damaged caused by animals.
- Collision coverage: May help pay to repair your car if it's been damaged or destroyed in a collision with another vehicle or object such as a fence.
- Rental reimbursement coverage: May help pay for a rental car while your car is being repaired after a covered loss.
- Towing and labor cost coverage: May help cover services if your car breaks down. Coverage may include jump starts, fixing flat tires or towing.
For more Information contact us: (706) 884-5006 or (770) 969-5666
Please visit us: www.go-guardian.com