Tis’ the holiday season and that means sales everywhere you look. This includes sales and discounts in the ultra-competitive auto insurance industry, where with only a few minutes of online clicking and typing you could literally save hundreds on your next auto insurance policy.
During the holiday season auto insurance companies really ramp up their advertising and discounts because they know consumers are purchasing cars (new or upgrades) which need to be insured and the majority of auto insurance policies renew at the end and beginning of the year. So take advantage of the lower premium prices by following these two simple steps:
1. Get a FREE, no obligation quote from the list of providers I have reviewed below. I get numerous emails from insurance brokers to list on this site, but the ones in the list below are the ones I currently recommend. They are nationally recognized, great companies and offer the best deals in my opinion. Other than AARP, I have had insurance will all these providers at some point. When you get the free auto insurance quotes, make sure you include similar characteristics (like deductibles, comprehensive coverage) so that you are comparing apples to apples.
2. Review the quotes to see which is the best deal for you, and then call your current provider. If you like your current insurance provider, encourage them to match or at least come close to matching the lowest price you found. Otherwise the decision is easy, switch and save! While it can be a little bit of a hassle to switch, saving a few hundred dollars can definitely ease the pain.
You will more than likely save money when/if you switch. Insurance companies know they have to provide you with a significant discount and reason to switch from your current provider. They call this an acquisition cost. Their hope is that when it comes time to renew, they can pass on higher premiums to you. That’s why you need to repeat the steps above and implement the switch to save strategy all over again.
Esurance - This insurance portal (recently acquired by All State) is now pretty well known thanks to it’s extensive advertising campaign on providing discounted car insurance quotes. They act like a broker between you and the other insurance companies and given their discount guarantee they are definitely worth visiting to get a free quote in this ultra competitive auto insurance market. Their one draw back is that they are not as strong as the other providers when it comes to multi-policy discounts. Getting or searching for insurance is ideal for those on a tight budget and happy to purchase/search online (i.e. no insurance agent!)
GEICO - This insurance company, owned by Warren Buffet’s Berkshire Hathaway, is well known thanks to it’s incessant advertising and actually does have one of the easiest to use websites, with clear guidance on key terms and coverage options. I really liked their online feature that automatically obtained my vehicle and driver information from motor vehicle departments and other groups. This allowed me to get a faster and more accurate quote, without having to type in all my car information. It took me around 5 minutes to get a premium estimate (broken down by each insurance item) that I could easily customize to see what impacts changing one or more factors would have on the premium
USAA Auto Insurance - USAA membership is open to U.S. military service members, veterans who have honorably served, and their eligible family members. When you join, you get free financial resources, special savings and award-winning service. By switching to USAA Auto Insurance, you can save an average of $409 per year. If you are ex-military or an eligible family member this is definitely a company you need to get a quote from. I also like their flexible payment option feature which comes at no additional charge
“Safe Drivers Save up to 45% with Allstate” is the claim the company makes. So I went and tried it for myself. Unfortunately, I got well below the average savings but that's probably because I continually review my insurance and switch if I can save more than $50 by changing insurance providers. But I do think if you have multiple policies and are in certain associations/groups you could do quite well with them. Definitely worth getting a free quote from All State as a comparison point if nothing else, given that they are one of the largest insurance companies out there.
AARP (for drivers over 50) - If you are a senior citizen then it is hard to beat insurance offers provided by the AARP. The rates are up to 15% lower than average for eligible drivers with good driving records. If you (or your spouse) are over 50, I would definitely get an online quote from AARP to see if you can benefit from a seniors discount. They also have a great in-person customer service line if you have questions and feel more comfortable talking to a real person to get a quote or sign up for an insurance policy
source: savingtoinvest.com
