These Companies Rate The Financial Strength Of Insurance Companies

Category: Finance, Insurance.

The cost of your car insurance premium is dependent on many factors.

If you follow the guidelines in this article, you can keep your insurances premium as low as possible. Some of these are within your control( your credit history and the type of car you drive) , and some are not( such as your age and where you live) . Shop Around- You should get multiple quotes before you agree to any insurance contract. You should also get a few quotes from online sources and possibly even talk to independent insurance agents who represent multiple companies. Get direct quotes from the major companies and their agents. With a sampling of insurance quotes, you will have an idea of what you can expect your insurance premium to cost.

You should research each of the companies you are considering. But don t decide based on price alone. Find out such things as: do they have a local office near you, what is their process for filing a claim, do they have a reputation for strong customer service or are they known for being hard to work with, and are there a significant number of complaints with the state insurance department. In addition to performing your own research, you can contact independent rating companies such as A. Best, Standard, Fitch& Poor, and Moody, Weiss s. You can find their respective websites by performing an online search.

These companies rate the financial strength of insurance companies. The company with the lowest rate most likely won t be the company with the best service or the most hassle- free method for filing a claim. When purchasing a new car, compare insurance premiums before you buy. It s up to you to determine what is most important when purchasing your auto insurance. The difference between insurance premiums can drastically vary from car to car. You might find the car you are in love with carries a substantially higher insurance premium than another model.

So, before you get your heart set on a particular brand and model, you should compare insurance costs on several cars that are similar to the one you want. Higher deductibles- The higher the deductible you choose for each form of insurance, the less that particular premium will cost you for the year. Low- mileage discounts- Most insurance companies offer discounts for motorists who drive less than the average number of miles on a yearly basis. Use the same insurance company for all your insurance needs- Insurance companies will give discounts if you purchase multiple forms of insurance from them such as Life Insurance, and Home Insurance, Auto Insurance. This is especially true for antique or collectible car policies, which usually have insurance programs designed specifically for low- mileage use. Unless the value of the car justifies paying for the high premiums, it s much more economical to simply forego those particular insurance options.

Unless it s an antique, don t purchase comprehensive or collision- If you drive an older car and its cash value is low, it might be a good idea to avoid the comp and collision policies altogether. Safe driver discounts- There are insurance companies who specialize in providing discount policies for safe drivers. Inquire about discounts- Some discounts are not always advertised and the only way you will find out about them is to ask. If you have an impeccable driving record, you should seek out those insurance companies who reward good drivers. Some of those discounts include: student drivers with excellent grades, anti- lock brake systems, drivers who are, low annual mileage 50+ years of age, no accidents in 3 years, no moving violations in 3 years, multiple car discount, higher deductibles, daytime running lights, anti- theft device. You should ask your insurance specialist if there are any discounts that may apply to you. This list is by no means complete.