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Are the most expensive auto insurance companies the most reliable?

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Things to Remember...

  • The most expensive car insurance plan is not always the best one
  • Taking the time to shop around and compare different insurance carriers can save you a lot of money
  • Depending on your situation, a smaller insurance company might be the right choice for you

Everyone has seen the commercials for auto insurance, so they are nothing new. They feature talking animals, beautiful women, or funny scenarios in which a hapless driver runs his car into a pole or into his house just in time for the company to save the day.

It seems as if these companies would do anything to get your attention. The most expensive car insurance companies often have the flashiest commercials.

During the course of these commercials, the spokesperson usually makes a claim that their service or value is better than the “cut-rate” car insurance companies.

When you compare insurance companies, it is important to look past the flashy commercials and compare the coverage and rates. One of the most effective ways to compare rates is to get a rate and coverage comparison online.

Use our FREE online comparison tool and find the perfect insurance plan today! Enter your zip code above to get started now!

Price is Important

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No one wants to pay more for car insurance than they have to. Car insurance is mandatory in most states, but some states have the cheapest auto insurance rates. People don’t want to get caught paying more money for similar coverage and service.

Therefore, the first consideration for many people is cost. The cost of coverage for the same vehicle for a particular driver can vary by hundreds of dollars between companies.

Most car insurance shoppers will then eliminate the companies that have the highest prices, especially if the quote from one company is far above a quote from the other companies being compared.

However, a slightly higher price doesn’t mean that you should automatically exclude a particular quality car insurance company. Some companies cost more because they provide better coverage or more services.

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Coverage

The next step, after you have eliminated companies with extremely high premiums, is to compare the available coverage. Each state has a minimum amount of coverage that you need to be in compliance with state law. This amount of coverage is automatically included in your quote.

However, you may wish to have more coverage than the minimum.

For example, some states only require a few thousand dollars for medical payouts if you harmed someone else in an accident. The sum may not even begin to cover the injured person’s medical bills.

When this happens, the person can sue you and obtain a judgment against you.

If you don’t have the money to pay the bill, you could lose your home, your car, or other assets. You could even go bankrupt.

As a result, you should compare the coverage offered. Some higher priced car insurance companies offer better coverage, but others do not.

Read the coverage amounts carefully and take them into consideration. Ideally, you should have enough coverage to pay for all of the expenses in an accident without requiring you to pay anything out of pocket.

Compare the coverage against the cost of the premium. Some higher-priced companies do genuinely offer better coverage for the price, but others do not.

There are companies that are considered cheap auto insurance specialists that offer less coverage to save money for the person purchasing the policy. These companies usually offer only the state minimum coverage.

Service

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One of the areas where more expensive car insurance companies differ from value car insurance companies is the level of service that is offered.

However, the level and quality of service will vary from company to company and a higher-priced premium may not always indicate that you will receive better service.

Read the details about the services that the car insurance company offers. For example, most insurers, but not all, have a 24-hour dedicated claims line.

Some have apps for cell phones where you can file the claim forms from your cell phone, complete with photographs of the damage.

Some purchasers ignore the value of such services because they don’t believe that they will ever get into an accident. However, the odds are that at some point in your life, you will have an accident in which you will need to file an insurance claim.

Read the Reviews

One of the most effective ways to compare the services of each provider and the customer satisfaction rates of current insurance subscribers is to check review sites online.

There are several independent agencies that compare service and customer satisfaction of various companies, including car insurance companies. Read what the independent agency has to say about the car insurance provider’s coverage, cost, and service.

Reading the analyses of independent review agencies and reviews from other customers is the best way to determine if the cost of a particular company’s services are worth it.

For example, a discount car insurer may cost less, but if it is difficult to reach an agent when you have an accident or if they are slow in sending insurance checks, the company may not be worth your time or hard-earned dollars.

Alternatively, a high-priced car insurance company may not offer better service or more coverage.

Although cost is a major factor for most people when they select a car insurance company, it is impossible to assess the value of a car insurance company from the cost of the premiums alone.

Shopping for car insurance requires investigating the coverage as well as the level of service from each provider.

To get cheap auto insurance quotes, enter your zip code into our FREE comparison tool below! Find a company that has enough coverage and good service and fits within your price range!

FREE Auto Insurance Comparison

Compare quotes from the top auto insurance companies and save!

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