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Get the Best Car Insurance Rates


Get the Best Car Insurance Rates

Shopping Smart

Ratings

Like most consumer purchases, different insurance companies charge different premiums for the same insurance coverage. However, all car insurance companies do not give the same level of service or share the same rankings. Insurance companies are given a Best Insurance Ranking provided by the A. M. Best Company. Since 1899, the A.M. Best Company has provided ratings of insurance companies based on their financial stability. The stronger the rating, the more likely the company is able to pay if you file a claim. Rankings range from AAA down to D.

Sales Methods

Insurance companies use one of three methods to sell their policies.
  1. Exclusive agents: These agents only sell the products of a single insurance carrier.
  2. Independent agents: These agents represent many companies and can give you multiple quotes on car insurance to compare.
  3. Direct market: Sales are usually with one company and completed over the Internet, phone, or by mail.
All three sales methods have their merits. The most important thing is to get multiple quotes from the insurance companies you feel most comfortable comparing, as insurance rates can fluctuate widely from insurance carrier to insurance carrier.

What to Notice

When you compare car insurance companies, you should pay close attention to the following:
  • The premium. This is the monthly cost for your car insurance.
  • Applicable discounts.
    • One company may offer you discounts that others did not.
    • Ask each insurance company you speak with about car insurance discounts for which you may qualify.
  • A. M. Best Rating. This rating indicates the financial strength of an insurance company and their likelihood of paying on your claim.
  • Customer service.
    • Most state insurance departments have lists of complaints against insurance companies. These complaints are frequently referred to as ‚Äúvalid complaints."
    • The higher the number of complaints or the complaint ratio, the higher the likelihood of the company violating a policy, contract, or statute.
Doing your research when shopping for car insurance quotes can ensure you get the best rates, great coverage, and stellar customer service. In contrast, neglecting to comparison-shop can leave you with a policy that does little for you in the long run and can hurt financially if you get into an accident. Informed consumers always get the best deal.

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