Car insurance is an essential financial decision, protecting drivers against unexpected expenses related to an auto accident. Our calculators make sure you have adequate coverage while keeping costs manageable.
Many factors can determine your insurance rate, such as driving history and vehicle type. Furthermore, life events like moving, getting married or buying a home can alter it too.
Rates
Auto insurance estimates provide an efficient way of getting an estimate of how much your policy will cost, taking into account information available to most insurers such as age, gender, location and driving history. However, keep in mind that inaccurate or incomplete data could alter your rates significantly.
Example: If you falsify information regarding your age or driving record, premiums could be affected negatively. A lapse in coverage will also increase premiums; additionally if you purchase higher limits of liability with lower deductibles or add optional policy features like collision and comprehensive, rates will likely go up as a result.
Your credit history also impacts your rates as insurers use it to assess the risk associated with filing claims. Unfortunately, not all insurance providers consider your score; California, Massachusetts, Washington and Michigan prohibit such influence over rates.
Coverage
Car insurance estimates provide an educated estimate of the cost of your policy by considering factors like coverage options, deductibles and discounts. A good place to start when making these estimates is by seeking quotes from companies with high marks in financial strength and customer service ratings; then compare prices for various coverage levels such as state minimums as well as full comprehensive and collision policies that provide comprehensive protection.
Insurance professionals typically recommend purchasing higher limits of liability coverage than required by state law, along with comprehensive and collision protection for added peace of mind following an accident. While these additional policies may cost extra money upfront, they help safeguard you against potentially expensive medical and repair bills caused by an incident.
Not only should price be your primary consideration when selecting an insurer, but you should also look for one with an outstanding track record of paying claims quickly and fairly. In order to assess this further it would be prudent to contact independent rating agencies such as A.M. Best, Moody’s Investors Service or Weiss Ratings who can assess if an insurer will likely pay out on claims or not.
Deductibles
Auto insurance estimates depend on many variables, including state minimum requirements, driving history and credit. You do have some influence over some aspects of coverage such as deductible amounts. Policygenius’ free car insurance estimator has saved drivers an average of $435 annually when used to estimate what their rates might be.
Reduce insurance costs by opting for higher deductibles on comprehensive and collision coverage; just make sure that if a claim arises you can cover it.
Price, style and age of your vehicle also impact rates – from new expensive sports cars to five-year-old sedans – and can significantly change premiums; raising liability limits increases premiums; conversely lowering them decreases them.
Discounts
Most major car insurers offer various cost-cutting discounts, and to see if you qualify, visit each carrier’s website or speak to an independent agent.
Drivers who install certain anti-theft devices are eligible for discounts on liability, collision, No-Fault and medical payments coverages. Furthermore, those driving less miles each year qualify for lower rates while others have earned discounts simply by being long-term policyholders or paying their premium in full each month.
Many insurers provide bundling discounts when you combine an auto policy with another policy such as home, condo or renters insurance. Farmers offers discounts of 6%-26% when an auto policy is purchased with home/renters policies from them – significantly lowering car insurance estimates but only when accurate information such as make/model/year details are provided for your vehicle.