Drivers Compare Car Insurance Quotes

July 13, 2010 - PRLog -- Even though it can become a hassle to shop around and compare rates from the multitude of carriers who offer policies, it is well worth the effort in order to find the best deal. Auto insurance can become a very expensive investment, but a good investment is one that will pay off in the end; obtaining as many quotes as possible is a person’s best chance of finding affordable coverage without the risk of overpaying.

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Just as consumers shop around at different places for any consumer product, the same mindset should be used when looking for an affordable insurer. As individuals begin to obtain multiple car insurance quotes they will quickly come to realize that the prices of policies can vary greatly with each carrier that they obtain a quote from. Consumers must realize that it is a very competitive market which is indicated by the wide range of advertisements used to lure in customers and although one company may promise to save an individual a substantial amount of money, there may be another carrier who may be cheaper, but does not advertise on such a large scale. It is up to the motorist to invest the time and effort to ensure that their dollar is being stretched as far as possible, especially on something as important as auto insurance; motorists should take the time to obtain as many quotations as they can before settling for a carrier.

Importance of Comparing Multiple Car Insurance Quotes
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Every insurer develops their own underwriting guidelines, their preferred clientele and adjust premiums accordingly. This is where competition comes in and although some companies may not want to compete for certain individuals who pose a high risk, others may view them as profitable. On the other side of the spectrum, those who pose low risks of filing a claim may have auto insurance companies jumping out of the woodworks and offering great deals to gain their business.

Whatever the case may be, the only way for a consumer to find the insurer who is most willing to accept their risk at the best possible price is to obtain and compare as many quotes as possible before purchasing a policy. This makes for a competitive industry which is to the advantage of the consumer; there will always be the “cheapest” company out there and even though it may differ for each driver, it has to be found by the consumer.

Additionally, consumers must also come to understand that they may be entitled to certain benefits from various insurers when they become insured, mainly discounts. It is very important to address any applicable discount when obtaining the quotes of carriers to ensure that the best price for automobile coverage; many overlook the fact that state laws require that insurers provide a rate reduction for certain items and do not address them.

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For instance, the Maine Bureau of Insurancerequires that insurers reduce premiums for policyholders 55 years of age or older who complete a motor vehicle accident prevention course. Many states mandate the same sort of laws for various discounts and individuals should be sure to take advantage of savings where ever possible. Regardless, obtaining quotes is the best chance that a person has of finding an affordable premium and the more a consumer obtains and compares from the more likely they will find the cheapest rate.