- Why Car Insurance Is so Expensive?
- Where to Buy Car Insurance Online?
- Are Auto Insurance Quotes Accurate?
- Do auto insurance quotes affect credit?
Why Car Insurance Is so Expensive?
Everyone wants to get a good deal on auto insurance. Nobody wants to pay more than they have to, and many people question why car insurance is so expensive. Overall, the price of a comprehensive auto insurance policy is much less than the cost of personal injuries and property damages. However, there are numerous good reasons for the relatively high cost of the average policy.
The Main Reasons Auto Insurance Is Seemingly Expensive
While the price of your policy may seem salty, the truth is this: the cost of your premium is determined by considering numerous aspects. In fact, no two people pay the exact same amount for their insurance policy. The following are the most common factors used to create your premium:
- Your Personal Information and Driving History: Auto insurance underwriters are not allowed to give umbrella premiums, but instead must determine the cost of the policy based on several facts, including but not limited to your age, driving record, and the type of vehicle you plan to operate. Having a clean driving record can help; and in many states (including Florida), your premium may be reduced once you reach 25 years of age.
- The Current Cost of Medical Procedures and Property Repairs or Replacement: Inflation dictates everything in the economy, and auto insurance is not immune to that rule. As the price of medical care and automobile repair services climb, so too do the costs of adequate insurance policies. To cut back on the price you pay, carry private medical insurance, or opt for extended auto policies which include roadside assistance.
- The Driving Habits of the Average Driver: As people become less responsible on the road, insurance providers must adjust their premiums to accommodate. They say, “One bad apple ruins the whole barrel,” and that’s very much the case here. To help drive the average cost of auto insurance back down, be a good driver and encourage others to do the same.
- The Driving Conditions in Your Area: Florida just so happens to be one of the most dangerous places to drive in America, with unique weather conditions, a dense population, and a year-round influx of national and international tourists. Florida Insurance Now can help you find a policy that’s priced right based on your location and on the average cost of living therein. To save money, collect a few quotes before deciding on an auto insurance provider.
Where to Buy Car Insurance Online?
Visiting insurance companies personally is one way to buy coverage, but in the modern world that’s not always the best option. Thanks mostly to the age of information, purchasing a policy through an online source is very much possible, not to mention more feasible for some drivers. In addition, getting numerous quotes and purchasing auto insurance online can help people compare prices of the policies they’re most interested in.
Still, knowing where to buy car insurance online is a skill that many drivers don’t have. With so many options available, it’s sometimes difficult to narrow down the search. Often, it helps to conduct a search using a broker like Florida Insurance Now – a reliable company that can quickly and accurately list several quotes side-by-side for your shopping convenience.
The Top 3 Tips for Using a Quote Generating Service
The quotes you receive will be different than anyone else’s, mostly because the price reflects you and your driving record. While Florida Insurance Now does a terrific job of rendering the most accurate quotes possible, a few things must be done to ensure the price you get is as precise as it can be.
- Give Truthful and Honest Personal Information When It’s Requested By giving your personal information, a quote generating service can offer you a quote that most closely matches the price you’ll end up paying. However, attempting to mislead the underwriting service in any way may hinder your final results. If you don’t know the information, just say that. Never try to lie about your personal information because it will make the quote inaccurate and the insurance company you choose will find out the facts anyway.
- Have Your Information Ready to Go Before You Begin Collecting Quotes You will be asked a series of relative questions while your insurance quote is being calculated. To buy the most affordable policy online, offer up answers to those questions the best you can. To get several quotes quickly, have the information ready before you begin.
Know the State’s Minimum Coverage Requirements
In Florida, the minimum auto insurance requirements are based on several factors, including the type of vehicle you plan to operate. Before you buy anything, be sure that the policy covers you according to those rules. Knowing your policy needs and structuring a comprehensive budget beforehand can help you determine whether you’re getting a good deal when you see the quotes rendered.
Are Auto Insurance Quotes Accurate?
Seeking affordable insurance is something we all need to know do, especially when we have assets that deserve protection. However, the endeavor isn’t always easy, and some people end up spending more money on a policy than they should. In fact, many folks look for precise quotes via a network of reputable providers in an effort to budget more efficiently. Still, not all the quotes they receive are accurate enough to suffice the search and thus, a vast majority of insurance seekers end up mislead and disappointed.
How to Determine if an Insurance Quote Is Accurate?
Going without adequate insurance because you can’t afford it is a bad idea. Unfortunately, that’s one of the main reasons for the average person’s lack of coverage. A lot of people wonder whether insurance quotes are accurate enough to help them find the right one, and for the most part, they are. However, there are a few things you need to know before trusting the first amount you see.
1. The Quote Comes from a Reliable Source
In the insurance industry, there are plenty of middle men who try to make a quick buck by giving consumers bad information in an effort to gain their business. For the most accurate insurance quotes, be sure to get the price directly from the source. If at all possible, speak to a licensed agent before deciding.
2. The Quote Uses Honest Information
Too many people think that they can manually reduce the cost of an insurance policy by being dishonest during the quoting process. Not only is that belief untrue, but it can also lead to charges of fraud in some cases. To get a reliable quote, give your personal information as accurately as possible. After all, many insurance underwriters can find the facts out on their own eventually.
3. The Quote Is Generated Using Industry-Standard Questions
While searching for an affordable insurance policy by collecting quotes, you will be asked a series of regulatory questions by Florida Insurance Now. Many providers, even from other states, ask the same types of things, including but not limited to the following:
- Your age
- Your vehicle’s VIN number
- Your driving record
- Your marital status
- Your vehicle’s mileage
- Your intended usage of the vehicle
- Your coverage preferences
If you end up being asked questions other than these, it’s not necessarily an indication of foul play or false quoting. However, questions that seem weird or off-putting may indicate that you’re getting your quote from the wrong source.
Do auto insurance quotes affect credit?
Even though your auto insurance company is going to look at your credit score as a determining factor as far as how much to charge for your auto insurance is concerned, searching for auto insurance – and shopping around from a variety of different auto insurance companies – isn’t going to have a negative impact on your credit score in any way, shape, or form.
This is incredibly important to know, as there are some less than ethical insurance companies out there that will tell you that if you shop around and compare the quote that they provide you with a host of other insurance companies your score will go down each and every time, all in an effort to get you to sign on the dotted line right then and there with the coverage and price they have to offer.
Nothing could be further from the truth.
No car insurance shopping effort will result in a “hard pull” of your credit
You need to know that in absolutely zero circumstances whatsoever will shopping for car insurance results in what is described in the credit industry as a “hard pull” of your credit score or your credit record.
These kinds of checks on your credit score are the ones that end up as “blemishes”, particularly if you aren’t able to take advantage of whatever it is you were trying to get credit for in the first place. A lot of people are under the impression that every time their credit score is checked one of these checks is performed, but nothing could be further from the truth.
A car insurance company looking at your credit score is instead going to results in a soft pull. This gives them just a little bit of access and insight into what your score in general is, but no real details regarding your payment history, your debt to credit ratio, and a whole host of other factors that make up your score.
Work with legitimate insurance companies and you'll have nothing to worry about
As long as you are working with legitimate insurance companies you won’t have anything to worry about when it comes time to take advantage of inexpensive coverage that will not dent or ding your credit score.
Companies like Florida Insurance Now are never going to threaten your credit score but will instead be able to provide you with top-notch coverage you can trust and rely at prices that you will find to be very affordable.