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Buying car insurance online is fairly easy, with very few forms to fill out. But to compare insurance companies and get the best rates, here are 6 mistakes he should avoid. (iStock)
Buying a car insurance quote online is a fairly straightforward process. Insurers generally look at some common factors, but they may have their own magic formula for setting premiums. This means you may get quotes that are not exactly the same for the same driver.
For the best possible rate, avoid these costly errors when comparing auto insurance quotes online. Also, comparison shopping takes time, so check out Credible’s partners to eliminate the time-consuming part of your search.
Avoid These Mistakes When Comparing Auto Insurance
Auto insurance companies offer different types of insurance and different premiums. So you should be very careful when checking quotes online. Here are six mistakes to avoid when comparing quotes.
- skip discount
- lump sum payment
- Set a low deductible
- don’t get multiple quotes
- Providing false information
- hide a bad driving record
1. Skip the discount
Many online insurance companies offer discounts, but you have to do a little digging to find them. We encourage you to find out and ask questions. For example, if you own a home, you can bundle your home and car insurance with a discount.
Credible allows you to compare car insurance companies and find quotes for free. In addition, you will gain a better understanding of coverage limitations, comprehensive coverage, and more.
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2. Lump sum payment
While paying full car insurance may be out of the question for many people, it has its perks. Insurance companies usually charge a fee for installment payments. You can claim that you can make money by putting the money you save in installments into your savings account, but if interest rates fluctuate at 1%, the fees your insurance company charges could easily exceed the interest you earn. there is.
3. Keep your out-of-pocket costs low
Many online auto insurance companies set the deductible amount during the application process. However, if you choose a deductible that is too low, you will end up paying a higher premium. On the other hand, a higher deductible will save you money in the long run. Increase your deductible from $300 to $1000 and save as much as 40%. A lower deductible makes it easier to pay upfront in the event of an accident.
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4. Don’t get multiple quotes
One of the biggest mistakes you can make is underestimating your auto insurance quote. Shopping can take some time, but it’s worth the effort. Some insurers may offer better rates, but their customer service is poor. Other insurers may offer several levels of protection, but at higher rates. Comparing quotes is essential.
With Credible’s partners, you can eliminate the time-consuming part of the search.
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5. Providing Incorrect Information
A misspelled email address, phone number, or name can slow down the application process. So you can misinterpret the actual number of miles you drive each year. Online insurance companies check all of this information and if something is wrong or inaccurate, your application may be held or rejected outright. Apart from that, having your paperwork together before you shop will help you provide the correct information.
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6. Hide your bad driving record
While it’s true that a poor driving record increases insurance risk, hiding an incomplete driving record can disqualify your application entirely. Past accidents, felonies, and traffic tickets may also prove harder to get low rates, but insurance companies will look into your driving record, so they hide negative information. It is meaningless.
Shopping for car insurance online is easy and a great way to get the best car insurance rates. We also highly recommend visiting Credible to explore all your auto insurance options in one place. However, errors in your application can cause concern for online insurers, who may deem you too risky or even abandon your application altogether.
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