Learn How to Compare Auto Insurance to Find Your Best Policy
Create Your Own Scoring System
While shopping for insurance, you usually don’t have a lot of information to go on for each business. Create a scorecard to track customer service and pricing so you can have a better idea of what your future experience with any specific agency would be like. Your scorecard may include the following items:
• Attitude: Does the insurance representative appear friendly and courteous or angry and grumpy? How simple is it to navigate their website?
• Knowledge: Does the agent explain all coverage alternatives, or do you get the impression that they are hurrying you through the process and cutting corners?
• Response time: Do you get a timely callback with a price, or do you have to phone the agency back and beg for one?
• Price: When it comes to insurance, everyone is concerned about the cost. Take note of the pricing provided by each carrier you consider.
Examine Financial Stability
If your insurer goes out of business or struggles to pay claims, your automobile insurance may be rendered useless. Search for vehicle insurance business profiles online to get a sense of the organization’s structure, financial standing, and specialty. To understand the financial viability of a company, consult ratings such as Standard & Poor’s (S&P).
• AAA: Very Strong
• AA: Very Strong
• A: Strong
• BBB: Decent
• BB: Marginal
• B: Weak
• CCC: Very Weak
• CC: Extremely Weak
• R: Under Regulatory Supervision
Lock in a Low-Interest Rate
The term of a policy is important, and it varies more with a car policy than with other types of insurance. When researching businesses, consider if you would be trapped in six-month or year-long insurance.
A yearly policy’s rates cannot rise for a whole year. Of course, your prices cannot be reduced. Hence, if you have any major events coming up during the year, like a ticket being removed from your driving record or your 25th birthday, it’s time to seek fresh rates, as you are free to switch carriers at any time.
