Have you recently shopped around for car insurance?
Rates have been falling because baby boomers are driving slower, cars are getting
safer, auto theft and drunk driving are declining. So the Insurance Information
Institute says rates are down in most areas of the country.
Insurance company competition is keen, so companies are writing policies on people
they were reluctant to cover before.
When you shop around have the following information handy:
- vehicle identification number (VIN), located on the dashboard of your car
- anti-lock brakes (yes/no)
- one or two air bags?
- security or alarm system?
- how many miles driven per year?
There are direct sellers you can reach by phone like, Geico and USAA. There are
also web sites that will help you search multiple companies like, InsureMarket and
InsWeb. An other option is Progressive Insurance that quotes their own and up to
three competitors’ prices.
Get three or five sources, include a firm that sells through their own agents (like
Allstate or State Farm), a direct seller and an independent agent who sells for
several companies. Ask your friends for references, check with your state insurance
department. Remember you get what you pay for when it comes to service.
Some companies are tougher on different things like speeding tickets, so shop around
and maybe you can save yourself some car insurance premium money! If you do, use
those funds to Defeat Debt!