Getting cheap car insurance is not a myth or an unrealistic theme of Hollywood fantasy films. It's a reality for thousands of American drivers who have learned how the insurance system works. Armed with that knowledge it becomes fairly easy to find a car insurance company willing to give you what you want. It's so easy in fact, were surprised more people don't know how to do it. The good news is that we are here to help with our 5 steps to getting cheap car insurance.
Step 1 - Know What You Want and Need
Knowing what you want and need before you start looking for quotes is the single most important thing you can do here. Take the issue of minimum liability insurance, for example. Every state except Iowa requires drivers to provide some sort of financial protection in case of an accident; most of us meet this requirement through standard liability insurance.
Unless your vehicle still has an outstanding loan, all you're required to carry by law is minimum liability. This is the absolute cheapest type of insurance you can purchase. Just keep in mind that liability only covers other people and their property; it doesn't cover your or your car.
Step 2 - Find out the Value of Your Car
If you plan to carry collision and comprehensive insurance, even though you don't away money on your vehicle, you may want to reconsider based on the value of your car. In other words, if the Kelley Blue Book or NADA value of your car is currently only a couple of thousand dollars, it's not worth it to carry comprehensive and collision because you'd never get enough money out of the policy in the event of an accident. As long as you have a clean title a general rule is to not carry comprehensive and collision on vehicles valued at less than $4000.
Step 3 - Know the Drivers You Will Be Adding to Your Policy
In most states you are required to report all licensed drivers living in your household to your insurance company, unless those drivers have their own vehicles and policies. This means that a younger driver with a poor record will result in a higher rate for you. Likewise, an older driver with a clean record will mean lower rates. If getting cheap car insurance you can afford is impossible with high-risk drivers living your household, ask them to get their own policies so as not to drag you down.
Step 4 - Assemble Your Quotes
Once you know your needs, the value of your car, and the other drivers in your household, you'll be ready to start assembling quotes. You should avoid negotiating during this initial phase so it doesn't interfere with your objective comparison of all the quotes you're getting. When you do compare quotes you want to pay attention to the overall value of the policy. In other words, how much protection are you getting for the amount of money you're spending? By comparing you should be able to narrow down your list to a couple of top candidates.
Step 5 - Hammer It out
The final step is to hammer out your final price with an insurance agent or company representative. Use all the leverage you can, including your own good driving record, your good credit score, any discounts you might be eligible for, and so on. If you can convince the insurance company representative you know what you're talking about you'll be able to control the negotiations and work them out to your favor.
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