Whether you’re a young adult getting their first car insurance policy or someone who is looking to change their existing car insurance from years past; spending a small amount of time relearning and understanding the basics of quotes involving car insurance can be extremely beneficial in saving costs for you and your family.
What Are Quotes?
First and foremost, most of your time spent comparing and contrasting various car insurances will involve quotes, and thus the first obstacle presents itself, what is a quote? Quotes are universally used for all types of insurance and the good news is that this particular information extends beyond car insurance. A quote is a rough estimate of the cost to be insured. The accuracy of the quote depends on the amount of information provided and affecting factors. It is almost certain a quote will not be exact, but it’s fantastic for getting in the ballpark of what the costs will be as a baseline for comparison. Optimizing the time spent getting quotes is one of the best ways to quickly find the best cost-efficient car insurance for you.
With quotes understood, now comes the part of finding and comparing them. Fortunately, with the ever-convenient internet, finding and comparing quotes is easy. There is a multitude of websites that exist that offer quick methods of getting quotes. These websites can be found easily via search engines, social media, or even articles such as this. These sites can offer either paid or free services and depending on reputation, the mileage may vary, however, there is no shortage of options for finding car insurance quotes.
A great uncommonly asked question is “can you find car insurance quotes with just the VIN?”, and the answer is absolutely! When it comes to optimizing your time spent, this is undoubtedly one of the best methods to form a baseline quote range quickly. Having to retype in your information over and over on multiple different websites takes a significant amount of time and is equally exhausting and using a VIN streamlines the process significantly. VINs however, don’t provide completely accurate results as they fail to provide other factors that may influence costs to insurers, but as stated they are an amazingly fast way to compare baselines.
What Affects Costs and Quotes?
With the methodology and streamlining understood for car insurance quotes, it’s time to take a look at what factors affect said quotes. The first thing insurers look at is the make and model of a vehicle (this is why using a VIN to get quotes is as effective as mentioned previously). The statistical reality is that some cars are safer and cost less to insure, and vehicles such as sports cars and motorcycles cost more. Along with the make and model, the next biggest factor insurers consider is your driving record or lack thereof. Individuals with poor accident history or no history whatsoever will see higher quote ranges and costs than those who have clean records for significant periods.
Your age, gender, and marital status will also affect the cost of car insurance and changes quotes. For example, young males will have a higher cost of insurance than females or older males because statistically, young males are more likely to be involved in an accident. Being married also typically results in lower quotes and costs of insurance. This is likely because married couples are older and less likely to take risks while driving.
Another uncommonly considered factor that insurers will also look at is your occupation. Insurance companies use data and to correlate risks based on the jobs of the people they insure. Jobs that require a lot of travel or have younger workers such as a waiter have higher premiums and rates, resulting in higher quotes. Occupations such as office workers, and retirees have lower costs by comparison.
How Achieve Cheaper Quotes
Reducing the cost of quotes and car insurance can be easier than one would assume. As mentioned before simply changing your job description could result in lower quotes and insurance rates. Another method would be to look into unique insurance policies, such as ones for cars that are rarely driven.
Keeping an accurate history of your driving record is also a good practice, or even just updating your existing policy with new information (perhaps you got married since you’ve signed up with that company). And when mentioning an existing policy, a good mindset to have if you already have insurance is to remain open to different insurance companies as you may be getting a bad deal, or the policy no longer fits your needs as well.
Staying loyal to a single company could end up costing you significantly more than swapping to a different company. Also, whether you are getting your first car insurance policy or swapping, comparing and contrasting is invaluable. Take the time to get many second opinions as possible to be able to make the best-informed decision for the car insurance that best fits your needs.
With an understanding of what a quote is and how they’re affected by a multitude of different factors, you can have more peace of mind when it comes to selecting or swapping insurance companies and what goes into reducing the cost of your insurance rates and premiums. Simply optimizing and understanding can allow you to quickly and easily find what’s best for you, and allow you to enjoy your vehicle sooner, with less hassle of dealing with insurance costs.