QuotesChimp gives you the chance to get multiple quotes from all the leading auto insurance companies in your state. But this is only going to help you if:
» you're willing to change insurance companies; and
» you're prepared to invest a little time into comparing the quotes.
Here comes a fact you should absorb and think about carefully. The insurance industry monitors how you behave. The statistics the companies provide show that only about 10% of all policyholders are actually prepared to change their insurance providers. Even though sites like this can show you alternate car insurance quotes saving you several hundred dollars, almost all of you will reject these quotes and stick with your current insurer.
If you're going to take the time to get quotes, you should be prepared to act on them and save yourself a bundle of money.
You're going to say it's easy. You've come to QuotesChimp because it guarantees to give you cheap quotes. So when you have some quotes, all you need do is check out the annual premium rates and pick the lowest. Well, sadly, that's not the right approach. Price is only one of the factors you should be considering. Here's the complete list:
» the annual premium rates;
» the auto insurance companies quoting those rates; and
» the extent of the coverage.
Because not all the companies have stellar reputations when it comes to handling claims. It's that old capitalism thing at work. You you pay the cheapest premium, it can be like getting blood from a stone when it comes to making a claim. Check with your state's Insurance Commissioner to see whether there are complaints against any of the insurers and, if possible avoid buying a policy from the worst. Talk with family, friends, and insurance agents to find out whether the service offered by the insurers is of a reasonable quality and friendly. Asking an expert whether the insurers are financially sound is also a good idea. Although not many insurers go into liquidation each year, it's wise to discover whether there are worries about any of your local companies.
The first step is to decide exactly what coverage you want and need. So if, for example, you decide you want more than mandatory minimum liability cover, you can pick a number from the minimum up to an umbrella policy which gives you the maximum cover. If you have an auto loan, do you want a gap policy to cover any shortfall if the vehicle is totaled and the fair market value does not cover what's outstanding on the loan, and so on. Only when you know how much cover you want, can you judge whether the quotes are giving the value you need.
There's absolutely no point in buying a cheap policy if it doesn't give you the coverage you need.
Now comes the acid test. When you confirm the coverage is what you need, are the car insurance quotes a reasonable price to pay? The only way to find out is to look at quotes from at least five different insurers to see what the average annual premium rate is. Only then can you begin to judge whether the prices quoted are actually cheap or not.
Now you're in the best position to make a fair comparison between all the quotes you have.