How to get the Best Price on Auto Insurance
Many car owners are confused about auto insurance. Here’s how to find the best coverage (and the best price) for your car.
Sourced from: www.nbcnews.com
Buying insurance is like any other purchase: If you want the best price, you need to comparison shop. Every insurance company has a different underwriting policy which results in different prices. You can compare policies side by side by using our Auto Insurance Rate Finder Widget.
WisePiggys also consider the key factors that impact the price of your insurance. Each insurance company has its own formula for calculating premium prices, but they all tend to use the same basic factors. These include obvious ones, such as the make and model of the car, how you use the vehicle (e.g., do you drive during commute hours?) and your driving record.
However other factors that go into the mix include:
- Your age, gender, and marital status,
- Where you live, and
- Your credit score.
Yes, #3 your credit score is often overlooked. In many states, insurance companies will consider credit scores when calculating premiums. While many consumer advocates believe this unfairly penalizes lower-income car owners and they are trying to get the practice outlawed. it will impact the price of your auto insurance premiums. Unfortunately, the industry says its data shows that drivers with better credit have fewer accidents.
Read more about your credit score and credit reporting.