Shop and Compare Auto Insurance

Your auto insurance policy is a package of protections. Depending on where you live, certain components are required, while others are optional. Some states have required minimum amounts on the required coverages, but you can increase the protection if you feel it’s necessary. You want to ensure that you have adequate coverage in the event of an accident. While it’s better to be over-insured than under-insured, you’ll want to make sure you’re not paying more than you need.

You can also increase or decrease your deductible based on your budget and personal comfort. Altering it does have a direct impact on what you pay each month. If you increase your deductible, you pay less a month for your policy. Decreasing it, on the other hand, means you pay more. Raising or lowering your deductible also affects your out-of-pocket costs. For instance, a high deductible means lower monthly premiums, but you’ll have to pay more out of pocket before your policy kicks in. Keep these factors in mind when choosing.

Some of the most common auto insurance coverages include:

Liability. Most states require drivers to carry liability insurance, and you need to have at least the minimum amount of coverage your state requires. This coverage consists of bodily injury and property damage.

Comprehensive. Comprehensive coverage protects you if something happens to your car when you’re not driving it. Covered incidents may include fire, downed trees, hail, vandalism, and theft. While comprehensive is optional in most states, a lender may require it if you’re leasing or financing your vehicle.

Collision. Collision coverage protects you if you’re involved in an accident with another driver or you hit an object while you’re driving. The coverage helps to pay for the repair or replacement of your car. Like comprehensive coverage, collision is optional, but you may be required to have it if you’re leasing the car or you’re paying off a loan for it.

Other types of insurance coverage include:

• Uninsured and underinsured motorist
• Medical payments (MedPay) coverage
• Personal injury protection (PIP), which is only available in some states
• Guaranteed auto protection (GAP)
• Rental reimbursement
• New car replacement
• Ride-sharing coverage

Outside of the minimum requirements based on where you live, you get to choose the amount of coverage you want, what types of coverages you want, and what deductibles you want. An Assurance agent can help you make sense of your options and help you select the best protection (and amount of protection) for you.

An auto insurance quote gives you a general idea of what you can expect to pay based on the information you provide before you decide to purchase a policy. Insurers don’t consider every factor when generating your quote, though. This means is the actual amount you pay every month may be different from the initial quote an insurer provides.

Your premium is the actual amount you pay for your policy to maintain your insurance coverage. You can choose to pay your premium monthly, bi-annually, or annually. Some insurers may offer discounts if you decide to pay the entire annual premium in full. Don’t hesitate to ask a carrier if they offer such a discount. You can also ask if the company offers any other types of discounts that can help lower your premium further.  Discounts that can help reduce your monthly or annual premium include:

Discounts that can help reduce your monthly or annual premium include:

• Low mileage driving
• Multi-policy bundling
• Multi-car
• New car
• Anti-theft devices
• Good driver
• Good student
• Paperless billing and communication
• Electronic funds transfer

Different auto insurers offer different discounts. Don’t hesitate to ask a carrier what types of discounts they might have and how much they can save you if you decide to get a policy with them.

When you’re shopping for a car insurance policy, you will need to provide some information to get the most accurate quote possible. You can save time and avoid having to guess by having the following information available when researching your options:

• The birthdates and occupations of everyone you plan to include on your policy
• The driver’s license information for everyone you plan to include on the policy
• Your driving record, as well as the driving record(s) of everyone else who you want to include on your policy
• The car’s vehicle identification number (VIN)
• The address where you park the car
• How far you drive your vehicle every day
• Whether you own the vehicle or you’re leasing/financing it
• Your bank information or credit card number (which you’ll need to provide for premium payments)

Having the information you need to provide before you start shopping for auto insurance can help to expedite the process. It can also help to make things easier and much less stressful.