How to Find the Right Auto Insurance for Your Family

You and your spouse have been fairly satisfied with your current auto insurance policy. However, with the two of you now transforming into a young family, you’re now reconsidering your decision, which means it’s time to shop for a new policy. Thing is, looking for a new insurance company isn’t as simple as choosing a new brand of peanut butter. There are numerous factors to consider in order to get the most coverage for the least amount of money. To help, here are a few things to examine before you make the switch to a new company.

What’s available

Due to state regulations, some national auto insurance companies may not be available in your area, or may be there but charge higher premiums than they normally would in other regions. Check websites for the company and state to see if there are any limitations. The elimination of these organizations off of your list help narrow down the decision process.

Reliability

How good is the insurance company in compensating their clients for accidents or defending them in lawsuits? How about their response time to file a claim? Do they have a 24-hour, seven-day-a-week operation? These are all questions to consider when looking for a new insurance company. There’s also the matter of customer complaints, which can be researched via the regional Better Business Bureau. The greater number of negative reviews and a lower rating by the BBB can assist in further narrowing down your choices.

Additional Services or Discounts

Along with the standard coverage, review the auto insurance companies for their additional services. Some companies roadside assistance in their packages for items like fuel delivery, jump starts, and towing services. They may also cover free or low cost car rentals when your vehicle is in the shop for body repairs or when your shopping for a new car after you other one is totaled.

Discounts are another factor to look at when shopping for new insurance. Perhaps they have a program that lowers annual premiums due to good driving or the fact you have an alarm system installed in your vehicle. They may even allow drivers to lower their premiums or erase accidents and tickets off their records if they participate in certain driver’s education courses. This information should be included at the company’s website or on the prospectus they send in the mail.

Flexibility

Does the insurance company expect payment in full once a year or can you divide it up into easier monthly payments? Do they have one set maximum or minimum for deductibles or is it left up to the consumer to choose what they can afford? Flexibility in the way you create your annual policy should be another consideration when shopping for new insurance. Lack of flexibility may cause alarm bells to go off when it comes to the way they deal with their clients. Think about this and the other options listed before making a final decision.

 

7 Responses to How to Find the Right Auto Insurance for Your Family

  1. […] 8-24 Young Finances Week in Review » How to Find the Right Auto Insurance for Your Family You and your spouse have been fairly satisfied with your current auto insurance policy. However, […]

  2. […] @ Young Family Finance writes How to Find the Right Auto Insurance for Your Family – Been a while? It may be time to shop for a new auto policy.What you need to know to find […]

  3. […] @ Young Family Finance writes How to Find the Right Auto Insurance for Your Family – Been a while? It may be time to shop for a new auto policy.What you need to know to find […]

  4. […] @ Young Family Finance writes How to Find the Right Auto Insurance for Your Family – Been a while? It may be time to shop for a new auto policy.What you need to know to find […]

  5. Geico provided the lowest rates for us several years ago. We do have roadside assistance (costs a few bucks extra) and have an umbrella liability policy with them, as well. We will see how high their rates go when our son (who is now 12) starts to drive. We may be shopping for new insurance in four years. :-)

  6. Ross Gallor says:

    Car insurance is also termed in vehicle insurance, it is basically used to insure your purchased vehicle from any type of mishappening. Also it gives financial help to the driver in the case of accident. Basically the more you love your asset or yourself the more you need a good insurance policy. A good car insurance policy has following attributes like:
    Proper coverage
    Transparency in money flow
    Discounted offers

  7. […] of insurance to obtain for you and your family during a lifetime. There are policies for your vehicles, your property, and your life. There’s even insurance to take care of you when you become […]

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