When you are shopping for an auto insurance policy, you want the best price possible with the best coverage. Getting multiple quotes from different carriers for auto insurance is the most effective way to ensure that you are getting the best rate available. At Bow Valley Insurance, we represent a number of insurance carriers and can do all the shopping for you.
Here are the factors you need to consider in order to find the best price.
Find the Best Discounts
There are a number of discounts that can be used to lower your auto insurance rate. Below are some discounts that might apply to your situation:
- Good driving record
- Short commute
- Mature driver
- Anti-theft devices
- Driver training courses
- Hybrid vehicle
In addition to these discounts, you can often receive a better rate by bundling your home and auto insurance together. It is important to understand what discounts can apply to your situation and can lower your premium.
Identify What Coverage You Need
There are a number of optional coverages and all policies are not created the same. Below are some of the primary coverage types that are available.
Third party liability – this is mandatory and will cover damage or injury to another individual or their property.
Collision coverage – provides coverage for damage to your vehicle that is caused by collision with another object.
Comprehensive coverage – provides coverage to your vehicle for fire, windstorm, vandalism, hail, or theft of your entire vehicle.
When shopping for insurance quotes, always make sure that you compare what the deductible on the policy is. A deductible is the amount of money you need to cover out of pocket before your insurance company covers a claim. A fairly common deductible is $500, however, some policies may have it up to $1,000. By having a higher deductible, your premiums may be lower, just make sure that you are using the same deductible in each of your quotes for an accurate comparison.
It is important to know what the most common endorsements are. Make sure that each quote that you receive includes the same endorsements for the exact same coverage. The most common optional endorsements, also referred to as Standard Endorsement Forms (SEF) on an auto-insurance policy are:
- SEF18 Replacement Cost Endorsement
- SEF 20 Loss of use
- SEF 27 Legal liability for damage to non-owned automobiles
- SEF 35 Emergency service expense
- SEF 39 Accident rating waiver
- SEF 43 Limited waiver of depreciation
- SEF 44 Family Protection Endorsement Including Supplement Endorsement
Some of the above endorsements may be automatically included by an insurer in their policy and with other companies, you may need to add them.
Let the Professionals at Bow Valley Insurance Shop for You
As experts in the insurance industry since 1979, we have been rate shopping and finding the best prices and coverage for individuals like yourself for over 38 years. Our team works with leading insurance companies to design a policy that will fully protect you at a price you can afford. Let us read through the fine lines and make sure that you are getting the best rate. We will show you the rate comparisons and explain the various coverage options so that you can make the most informed decision.
Start saving today and get a free quote for your auto insurance with the best coverage available. Call 403-297-9400 today!