Not many people would elect to pay more for car insurance. Oftentimes, individuals may think that because they are paying more, they are getting more coverage. However, that is not necessarily the case.
You can likely find the same quality coverage with a more budget-friendly price tag. That is why it is often beneficial to compare a few car insurance quotes. To get a true comparison, you should set a few of the same parameters, such as coverage types, limits, and deductibles to easily compare them side by side.
It is important to also note that there is a difference between car insurance quotes and rates.
Quote V. Rate
A car insurance quote is an estimate that details how much you can anticipate paying for an insurance policy. On the other hand, a car insurance rate is an amount you pay for the policy over a specific amount of time. Your car insurance rate may be different from the quote, as it is affected by a variety of factors, like your driving record.
3 Helpful Tips to Compare Your Car Insurance Quotes
The following are three helpful tips for comparing car insurance quotes.
#1: Choose the appropriate liability limits
Under Florida law, you must have a minimum of $10,000 of property damage liability insurance and $10,000 of personal injury protection (PIP). However, many individuals elect to have more than the state’s minimum requirements. These types of liability coverage can help pay for the other individual’s car repairs or medical bills if you were at fault for the accident.
When requesting auto insurance quotes, you should determine how much liability coverage you want and compare each provider’s rates for equivalent coverage.
#2: Set equivalent deductibles for the quotes you are comparing
Depending on your financial situation, you may prefer to pay a higher monthly premium to have a lower deductible or vice versa. Try to set equivalent deductibles for the quotes you are comparing so you can see which makes the most financial sense for your unique needs, and then you can make an accurate comparison.
#3: Compare quotes with the same coverage
There are many more coverage options (other than liability) available, such as collision and comprehensive, that you will want to account for when comparing quotes.
Before you begin asking for quotes, you may want to familiarize yourself with your coverage options and decide which ones you will want to include in your policy. Just be sure that the coverage is equivalent for each quote you are requesting to accurately compare them.
Need Help Comparing Car Insurance Quotes?
While some car insurance coverage is required by the state, there are many additional coverage options available at varying price points.
At GWK Insurance, we help you shop and compare the best car insurance quotes that meet your coverage and budget needs. Contact us today to get started.