Does Comparing Car Insurance Rates Affect My Current Car Insurance Rates?

Does Comparing Car Insurance Rates Affect My Current Car Insurance Rates?

You may wonder if doing an auto insurance comparison will cause you to be penalized by your current car insurance company. The answer is, no, you will not be adversely affected if you choose to compare auto insurance quotes.

In fact, one of the companies that you should compare auto insurance quotes from is your current car insurance company. You might find that they will be in a better position to give you a cheaper car insurance premium than what you are already paying.

Your current car insurance company may offer you a discount for the length of time that you have already been insured with them. If you have paid your premiums on time and have had no accidents or tickets, you might find that they are able to offer you more than a cheap car insurance premium.

They may also be able to offer you a lower deductible or be able to add more features to your policy without a significant increase in your rates.

Keep in mind, all car insurance companies are vying for your business and your current company certainly does not wish to see you leave, therefore, they may wish to extend other benefits to keep your business.

Even though your current insurance company would like to keep you, this should not stop you from comparing other insurance companies and their rates. An auto insurance comparison should be for the same coverage that you are currently carrying on your vehicles, and you should make sure that the deductibles and total amounts of coverage are the same.

If you are currently carrying $100,000 in comprehensive with a $500 deductible, make sure that your quote is for the same amount of money. A quote for $100,000 in comprehensive with a $1,000 deductible is going to have a lower premium because you are not receiving the same coverage. Likewise, if the deductible is $250, your premium is going to be higher.

You need to be aware that you are comparing the same things in order to get a good auto insurance comparison quote.

By getting auto insurance quotes from other companies before you get a quote from your own, you have armed yourself with rates and information that you can use to get your current car insurance premium cheaper.

If you are getting quotes for less money than you are currently paying, then you should use that information to try to get your current car insurance agent to lower your premium. As long as you are comparing the same coverages and both insurance companies have exactly the same information, you will be able to make a decision that will benefit your wallet.

Should you find that your car insurance company is either unable or unwilling to reduce your premium, you always have the option of going with another company.

If you decide to go with another company, make sure that you confirm the quote that you have received and that the new insurance company has all the same information and that you are getting all the coverage you need. This way, should there be a problem, you still have your original insurance coverage and you are not without insurance or obligated to pay a higher premium.

Comparing insurance rates and getting quotes should be a regular part of your financial planning. There is no reason to overpay for insurance and there is no reason that you should have coverage that you will never use or need.

By being responsible for your own insurance needs and getting comparison quotes regularly, you will have more money to put towards the things that you really do need instead of spending it on things you do not, like higher insurance premiums.