It is very common for people to seek to compare car insurance quotes when they receive a renewal notice and the premium has gone up. It's not a bad idea; after all, the rates change frequently for most insurance companies and you want to make sure you are getting the best rate. Although, it is very important that you keep in mind three big aspects to your policy when you compare car insurance quotes
1. Always do the comparison with your most recent policy or new declaration renewal in hand.
If you don't, you run the risk of quoting yourself with completely different coverage options. Any insurance company can give you a cheaper rate if you quote state minimum liability only when you have a high liability full coverage policy.
You also need to be sure to rate all the same drivers with their driving record when you compare car insurance quotes. Leaving one off or adding one on can completely skew the results.
You also want to put in the same options that match as closely as possible. If you have roadside and rental coverage on your current policy, select something similar on the new quotes.
2. Never give yourself less liability coverage; always check the price with the next step higher in liability.
Going down in liability protection is not going to save you money. The only way this will make your rate less is if you are going from a squeaky clean driving record to a really bad driving record.
In addition, you will be exposing yourself to a much bigger risk of paying someone's lawsuit for injury, wage loss, and pain and suffering out of pocket when you select lower liability limits.
When you compare car insurance quotes, the only reason you should drop liability is if that's the only choice before dropping coverage altogether. It is imperative you increase your limits back up as soon as you can. You actually put yourself in a higher-risk tier of rating when you have minimum coverage.
3. Make any needed changes on your current policy first.
If you do have to make changes on your drivers, coverage, or deductibles, make the change on your current policy first and find out the new premium; then compare car insurance quotes. You wouldn't want to go through the hassle of switching car insurance when your original policy would be cheaper.
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