What Is an Insurance Quote?

What Is an Insurance Quote?

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An insurance quote is an estimate of what your rate could be with a potential insurance carrier. Quotes are subject to change depending on how much information you give at the time of the quote. The more forthcoming you are with information, the more accurate your insurance quote.

How long does it take to get a car insurance quote?

Getting a single quote should not take much of your time. A lot of factors can affect the amount of time it takes to get an insurance quote. How many drivers and vehicles you have and where you get your quote, can all affect the time it takes to actually get a quote.

Call an insurance agent: You can expect to spend five to ten minutes giving an agent your information. Then it is typical for the agent to call you back with a quote. The call back time can vary from within the hour up to several hours. Your call should be returned on the same day unless you called late in the day. The return phone call will probably take an additional five to ten minutes depending on how many questions you have about the information given to you.

Get a quote online: 15 minutes is advertised as the time it takes to get an insurance quote online. Certainly, the time varies according to your computer skills and how many vehicles you need insurance on. Online quotes require a lot of detailed information in order to get an accurate quote.

How many car insurance quotes should you get?
Three to five insurance quotes should give you a good look at what is available. A quick tip on getting multiple quotes at one time is to utilize independent agents. Independent agents sell insurance through multiple insurance carriers. An independent insurance agent will be able to check with each of its insurance carriers and give you their best rate. Ask an independent agent which companies they quoted you through so you do not get duplicate quotes when calling around.

A couple different online insurance websites give you the opportunity to get quotes from multiple insurance carriers too. You only need to input your information a single time to get quotes from several carriers. Getting multiple quotes at once is a huge time saver regardless if it is from an agent or online.

How are insurance rates determined?

How are insurance rates determined?

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Below we detail some of the factors used to by insurers to determine rates for auto insurance, and why they should matter to you.

Your past driving record
A person's driving record plays a huge role in determining an auto insurance premium. If you have any speeding tickets or have filed auto insurance claims you can expect to pay higher auto insurance rates than someone who does not have this on their record. Slow down, drive carefully and save - plain and simple.

Gaps in insurance coverage
Most auto insurers consider drivers with gaps in their auto insurance coverage as potentially riskier to insure than drivers who have consistently maintained coverage. To avoid paying more for insurance, avoid having a lapse in your coverage, even for a short amount of time.

The vehicle you drive
This factor is based on the value of your car along with the expenses to repair or replace it. Vehicles that score well in crash tests normally will get lower insurance rates as well.

Where you live
Insurance companies determine auto insurance rates based on your location. So, if your area has high rates of theft or insurance claims, unfortunately you can expect to pay more for auto insurance to offset these costs. Also, highly populated areas have higher auto insurance rates, as you are more likely to be involved in an accident due to the increased congestion and vehicles in a given area.

Your annual mileage
Insurance companies tend to charge drivers with higher annual mileage more for auto insurance because the more a person drives, the more their chances of being in an accident increase. You may not be able to reduce the amount you drive based on location or your occupation, but looking for ways to combine trips can result in a reduction in mileage.
It's not always about low cost insurance
As you can see, the amount you will pay for coverage is dependent on a number of variables. Everyone wants to save on insurance, but the cheapest option isn't always the best choice. You need to consider your level of risk as well as the assets you need to protect. Saving on auto insurance is great, but you also want the right coverage, so a situation does not arise where your "cheap" insurance does not provide the necessary protection.

You've already made a great choice with 21st Century Insurance. Our best advice to keep your auto insurance costs low? Drive safely and maintain your coverage. You can also check out the 21st discount page to see if you can further reduce your premiums.

The Best Car Insurance Companies For Young Adults

The Best Car Insurance Companies For Young Adults

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If you drive a car, you need auto insurance. Every state requires that you purchase at least a minimal amount of liability coverage, in order to ensure that, if you damage someone else’s property while operating your car, some of that is at least taken care of.

Unfortunately, young drivers pay more for car insurance because you have limited driving experience. Although car insurance rates are highest for teenagers, young adult drivers often pay more for insurance until they are 25 or 26—or even up to 30. The only way to know which insurance companies are best for young adults is to compare competing quotes from a handful of auto insurance companies—every car insurance company prices their policies differently.

Also, the right auto insurance policy for you depends on a number of factors other than price—from how much coverage you want/need to what’s available in your state.

Let’s take a look at the best car insurance for young adults:

Liberty Mutual

Liberty Mutual has some of the best agents and customer service in the industry and was voted 2nd for customer satisfaction in a 2012 study by J.D. Powers. Although agents typically parter with community organizations and employers to sell policies, anybody can get a quote and a policy from Liberty Mutual. Two features in particular make them a company to put at the top of your list for consideration:

Accident forgiveness, which means your rates won’t go up after one claim.

New car replacement: If you purchase a brand new car and are in a crash within the first year, most insurance policies will only pay out the depreciated value of the car which can be thousands less than you just paid for the car. New car replacement with Liberty Mutual ensures that you’ll get enough money to buy the same new car again.

Esurance
Not too long ago, Esurance was bought by Allstate. The insurance company, long known for offering low quotes online is now backed by one of the most-known players in the insurance business. It’s easy to get a quote online, or reach the 24/7 toll-free customer service line. Esurance also makes it easy to manage your auto insurance policy and your claims online.

Discounts available through Esurance include its Fast 5, where you can save just for getting an online quote, as well as a multi-policy discount, multi-vehicle policy discount, and the Switch & Save, which gives you a premium reduction for moving from another insurance company.

Esurance also offers discounts for being an alumni of a Pac-12 school, purchasing emergency road assistance from a third party, good driving, good grades, anti-theft devices, and more. Esurance’s focus on online servicing reduces rates, making it an especially good good car insurance pick for young adults.

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What is auto insurance?

What is auto insurance?

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What is auto insurance?

Understand your car insurance and what it covers

Basic personal auto insurance is mandated by most states and provides you with some financial protection in case of an accident. But is it enough? What are the options? Learn how car insurance works and what types of coverage are available.

Understanding auto insurance—the basics

Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy.

Auto insurance provides coverage for:

Property – such as damage to or theft of your car

Liability – your legal responsibility to others for bodily injury or property damage

Medical – the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses

Basic personal auto insurance is mandated by most U.S. states, and laws vary. Auto insurance coverages are priced individually (a la carte) to let you customize coverage amounts to suit your exact needs and budget.

Policies are generally issued for six-month or one-year timeframes and are renewable. The insurance company sends a notice when it’s time to renew the policy and pay your premium.

Who is covered by my auto insurance—and under what circumstances?

Your auto policy will cover you and other family members on your policy, whether driving your car or someone else’s car (with their permission). Your policy also provides coverage if someone who is not on your policy is driving your car with your consent.

Your personal auto policy only covers personal driving, whether you’re commuting to work, running errands or taking a trip. It will not provide coverage if you use your car for commercial purposes—for instance, if you deliver pizzas.

Personal auto insurance will also not provide coverage if you use your car to provide transportation to others through a ride-sharing service such as Uber or Lyft. Some auto insurers, however, are now offering supplemental insurance products (at additional cost) that extend coverage for vehicle owners providing ride-sharing services.

Source : www.iii.org

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