Floyd Ormsbee

Expert Advice on Comparing Car Insurance Quotes & Rates

Floyd Ormsbee
Dr. Floyd Ormsbee Asst. Prof. of Consumer and Organization Studies, Assoc. Dean of Undergraduate Programs and Operations, David D. Reh School of Business, Clarkson University
How often should drivers get new car insurance quotes?

I think it doesn’t hurt to check your rates on a regular basis (say annually), especially if you see increases in rates. The insurance industry has changed dramatically today and rates can fluctuate and increase over several years. That said, it’s not a good idea at all to jump from company to company for a few bucks of savings. Should you suffer a loss, have an incident on your record (tickets or claims), etc., you run the risk of not being renewed if you haven’t been with the company very long. It’s also a good idea to talk to your agent – ​​ask how you might be able to control or even reduce your premiums. Things like raising deductibles or taking defensive driver courses can be very effective in bringing premiums down.

What important factors should drivers consider when comparing car insurance quotes?

See if the companies are comparing apples to apples. Make sure that things like the coverage limits, excesses, other coverages (for example, towing and rental compensation), discounts (such as daytime running lights, anti-theft devices or anti-lock brakes for example), vehicle use, driver assignments to vehicles are the same. A small change in one of these can make a big difference to the quoted premium and if it is incorrect when quoted, the actual policy cost can come back significantly higher with little recourse if the quote was wrong.

Read the original article here: https://www.moneygeek.com/insurance/auto/compare-quotes/#expert=dr-floyd-ormsbee

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