The most difficult aspect of the insurance process is often figuring out what type of coverage is best for you, how to get the best rates, and being aware of the factors that will affect your insurance rates.
BOSTON (PRWEB) April 26, 2018
Car insurance is an expensive necessity. The only way to find the best deal is by doing research, knowing what to look for, and shopping around. National nonprofit American Consumer Credit Counseling (ACCC) provides consumers with seven tips on how they can find the best rates for auto insurance.
“Auto insurance is a necessity required by law, and not having the appropriate coverage can put you at financial risk,” said Steve Trumble, President and CEO of American Consumer Credit Counseling. “The most difficult aspect of the insurance process is often figuring out what type of coverage is best for you, how to get the best rates, and being aware of the factors that will affect your insurance rates.”
According to a recent survey by The Zebra, 22 percent of respondents were unaware that they were required by law to have auto insurance. Although 94 percent say they are good drivers, 28 percent had to file a claim within the last year. The survey also found that only 46 percent of consumers shop around for multiple quotes every year, 23 percent only do this when their rates increase, and 31 percent do not shop around for quotes.
ACCC provides seven tips on finding the best auto insurance rates.
1. Shop around – Get multiple quotes from several different insurance companies to compare and contrast.
2. Talk to an independent agent – An independent agent works for their clients, not the insurance companies, and will do their best to find consumers the best rates.
3. Consider insurance cost when buying a car – Insurance is going to be more expensive on higher-end cars. Keep in mind that there will be insurance payments associated with the purchase of each car. Insurance will most likely be lower and more affordable on a cheaper or more reliable car.
4. Think about discounts – Discounts are offered to lower a consumer’s auto insurance rate if they meet certain qualifications. Companies will give discounts for things such as being a good student, a safe driver, low mileage drivers, combining plans, having more than one car or being accident free.
5. Know your options – There are several different ways to go about paying for auto insurance. It does not have to be a typical month-to-month payment plan or a standard package. Some auto insurance companies offer a pay-per-mile option, which can be efficient for a consumer that does not drive frequently.
6. Review prices annually – At the end of each year, consumers should look around again and see if they can find a lower insurance rate than the previous year, especially if they experience a premium increase.
7. Drive safely – Premiums can be kept low by avoiding tickets and accidents, but another way to keep them low is if a consumer allows their carrier to monitor their driving.
ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:
- For credit counseling, call 800-769-3571
- For bankruptcy counseling, call 866-826-6924
- For housing counseling, call 866-826-7180
- Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. In order to help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft, senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to ConsumerCredit.com or visit http://www.consumercredit.com/financial-education.aspx