What is the best way to compare auto insurance company rates?

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Things to Remember...
  • The basic concept behind auto insurance is to buy financial protection for yourself in case you are involved in an auto accident
  • It is important that you compare auto insurance rates once you know what type of insurance you need to buy
  • Auto insurance comparison websites are an excellent place to find insurance premium rates from several different companies
  • Most independent brokers represent several insurance companies, so they can provide you with multiple quotes within a short period of time

Finding the best way to compare auto insurance company rates can be a bit confusing when you first start shopping for it.

This can be especially true if you have never purchased car insurance before or are trying to get the best rates possible with the highest amount of insurance possible.

Enter your ZIP code into our FREE car insurance comparison tool to see the best rates available to you!

Forms of Auto Insurance

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The basic concept behind auto insurance is to buy financial protection for yourself in case you are involved in an auto accident.

According to a recent study by AAA, the average car accident involving injuries is in excess of $125,000. If a car accident results in fatalities, the costs soar in excess of $6 million.

In addition to injuries, you may also be responsible for paying for damages to property, not limited to any vehicles involved, but also including any buildings or other structures that may be damaged.

If you do not have adequate auto insurance coverage, you may be sued for damages, putting your home, your business and any assets you own at risk. It is worth it to pay for insurance to protect your assets.

Liability Insurance

Liability only on auto insurance at least is required in 47 states. However, mandated liability insurance coverage limits are extremely low and will not offer you adequate protection in most accidents.

It is recommended that you purchase significant additional liability insurance if at all possible.

Liability auto insurance pays for damages and medical expenses if you are responsible for an accident.

However, it only pays for damages and injuries for other involved parties. It does not pay for injuries you and your passengers receive, nor does it pay for damage to your vehicle.

Collision Insurance

Collision insurance is not legally mandatory, but lenders require it if your vehicle is leased or financed. Collision insurance pays for damages to your car if it is involved in an accident.

If your car hits another vehicle, a building or a fence, it will be covered by collision coverage. It also pays for damage received in a hit and run accident or if your car is involved in an accident and someone else is driving.

Comprehensive Insurance

Comprehensive insurance is not legally required to register your car and drive. However, lenders require comprehensive insurance if your car is leased or financed.

Comprehensive insurance pays for damages that happen to your car for events other than accidents.

For example, if you hit a deer or your car is damaged in a hail storm, it is covered under your comprehensive coverage. Also, comprehensive insurance covers losses that are the result of vandalism or if your car is stolen.

Personal Injury Protection

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Personal injury protection insurance is mandatory auto insurance in 14 states in addition to liability insurance coverage. Personal injury insurance is also sometimes called “medical expense” insurance, PIP or “no-fault” auto insurance.

PIP is applied to medical and hospital expenses that are the result of an auto accident, regardless of who is at fault and caused the accident. No fault insurance is also used to pay for lost wages, legal expenses and rehabilitation services.

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Comparing Auto Insurance Rates

It is important that you compare auto insurance rates once you know what type of insurance you need to buy. In addition to deciding what kind of car insurance you need, you will also need to decide what level of coverage you want and your deductible level.

Higher deductible levels will lower your premium rates, but you will have a larger initial out-of-pocket cost.

Insurance Comparison Websites

You enter your ZIP code and basic information into this website one time and receive multiple quotes! You may receive quotes immediately, or via a telephone call or email from insurance companies or brokers.

Auto insurance comparison websites are an excellent place to find insurance premium rates from several different companies.

Insurance Company Websites

You can also go directly to an insurance company website and request a premium rate quote.

Insurance company websites are helpful because they also outline other financial products the insurance company may offer, such as homeowners, rental and life insurance.

Independent Insurance Brokers

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You can also compare car insurance premium rates by talking to an independent insurance broker. Most independent brokers represent several insurance companies, so they can provide you with multiple quotes within a short period of time.

Insurance brokers can also help you understand your insurance needs and they may make suggestions on ways to lower your rates.

You should compare rates from at least three different insurance companies to get the best car insurance rates possible.

Keep in mind that factors such as your driving record and credit record can have a major impact on auto insurance rates. Also, remember that certain cars are much more expensive to insure than others.

A newer sports car or big SUV is going to be more expensive than an older sedan. Once you have decided to buy car insurance, you will simply need to submit an application and down payment and your policy will quickly be in force.

Use our FREE car insurance comparison tool with your ZIP code to get great rates now!

FREE Auto Insurance Comparison

Compare quotes from the top auto insurance companies and save!

 Secured with SHA-256 Encryption

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