updated: Jan 25, 2016 –
Of all the ways to find cheap full coverage auto insurance quotes, here are the three strategies that typically have the biggest impact without compromising your liability limits:
#1. Shop Around
If you are determined to find the lowest car insurance rate, you will need to commit to reaching out to more than just one insurance company. Comparing up to 5 quotes or more is the best way to be sure you are getting the absolute cheapest full coverage auto insurance. Taking a little extra time comparing full coverage quotes is worth it because in the end you will be locking in a rate that will save you money for many years to come. Savings that could add up to thousands of dollars over time.
#2. Drive Safe
One of the qualities that help drivers get good, cheap quotes is the image insurance companies have of of them. If you are a low risk driver, the chances of you filing an insurance claim are minimal, so insurance providers are more than happy to provide this type of driver with great deals in order to keep him with them. Thus, the second most important strategy to secure cheap car insurance is to drive safely and never be the cause of an accident.
A simple way to predict whether or not you fall under this category is to ask yourself a few simple questions. Were you ever involved in a car accident? Was it your fault? Did you ever get a DUI? Do you have speeding tickets? If the answer to these questions is no, then you are just what insurance companies are looking for. Most of them will go far out of their way in order to have you as a customer. It is the easiest way to find cheap full coverage auto insurance quotes, but it is only available for a select few. Those that do not qualify as low risk will have to find other ways to get great deals on auto insurance.
If you’ve already been in an accident, it’s still productive to drive safely since most insurance companies will consider you a safe driver if you can manage to keep your record clear of moving violations for a period of three years. DUI’s, however, can take longer.
#3. Adjust Your Deductible
Another way to lower your monthly premium is to adjust your deductibles. This strategy can make a significant difference on how much a policy costs. A deductible is a sum which you have to pay whenever you want to file a claim, i.e. after an accident. In other words, whenever you need to use your insurance policy, you have to pay a deductible before the insurance company starts covering the costs of the accident.
However, a deductible is offered at many price levels and it is up to you to decide how high of a deductible you are willing to pay in the event of an accident. The catch is that the lower the deductible, the higher your policy’s monthly premiums will be.
Overall, if you choose a high deductible, you are assuming you will not be involved in a lot of accidents in which damages will have to be paid out of your pocket. If you know yourself to be a careful and safe driver, then a higher deductible is an important key to getting the cheapest full coverage auto insurance quotes.
If you need to find full coverage auto insurance because you are leasing a car or have a car loan, you will need to know what types of coverage are necessary in order for your bank to consider your policy to be full coverage. These will vary from bank to bank, but a quick call to your lease or loan provider is the best way to answer this question. Of course, if you want to get the cheapest full coverage auto insurance quotes you will have to stick to the minimum form of coverage that your bank requires. This usually contains liability, comprehensive and collision coverage, although some will also require Uninsured Motorist coverage.