If you are in the market for a new or used car and are a first time buyer, there are some basics you need to know about the quoting process. While you will likely want to save money on the cheapest car insurance, you will also want to get the best coverage that protects you against loss or damage to your new car. Whether you are looking to buy local auto insurance or drive in another state, below are some tips that can prove helpful in your insurance selection process.
When do I begin quote research?
As soon as you begin shopping for your new or used car you should begin an online (or an independent agent) insurance search. Gathering as much information before hand about coverage required in your state and what coverage will be essential to protect you against loss provides an important foundation helping your decision. Advanced research will reduce pressure against making quick decisions later on.
What do I need to know for my quote?
Basic information that will be required for an insurance quote encompasses several categories. If you are a beginner, it will be helpful to collect these details prior to the quote process. The following lists information you will need to have when requesting your insurance quote.
Driver(s)- You will need your date of birth, driver's license; the dates of any accidents or violations within the last 3 years (some states require more).
Vehicle Information- Even if you have not made an actual purchase yet, you can begin by entering the most likely make/model you are looking to buy. You will at least begin a process of comparing rates between companies thereby helping you select the cheapest car insurance with the best coverage once it's time to buy.
Coverage- All states have mandatory coverage requirements. They typically include things like bodily injury and property damage liability; personal injury protection, as well as optional coverage like comprehensive, collision and medical coverage. If you are a young driver with few assets, ask for a quote that is relative to your income level and perceived financial risk.
Deductibles- It is common to select $250 or $500 deductibles. Some policies offer $1,000 deductibles. You want to select a deductible amount that would not cause financial hardship if you were in an accident and need repairs.
andPotential Discounts- Discounts can save you a lot of money on premiums. To get the cheapest car insurance possible, look for companies that help you keep rates low that fit your profile. Discount categories could include low mileage usage, hybrid vehicles, good student driver and the like.
We recommend you get quotes from at least three insurance companies. Make sure you use the same information across all quote applications you submit. You will also need to ensure you are getting actual quotes, not just estimates. The entire process can typically be conducted more efficiently when searching online.
Buying Your First Policy
Once you've decided on a car to buy, revise all quotes you have stored with online insurance companies with the specific make, model, VIN number, etc. to update each quote. After selecting the best coverage for the cheapest car insurance, you are ready to make your purchase. We also recommend you choose a company that is established in several states and that has been doing business for many years.
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Article Added on Tuesday, June 18, 2013
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