How to Compare Insurance Quotes

January 24, 2017 · Posted in General Articles on Car Insurance 

Comparing insurance quotes is one of the most daunting tasks you’ll have to do. Many people don’t have insurance simply because they don’t want to try to figure out what everything means and then find a company. Other people just go with the same carrier that their family has and they never shop around.

In the long run this is probably going to cost you a lot of money, especially if the plan you have isn’t very good. Even though it does take a lot of time, comparing insurance quotes is a necessary part of finding an insurance that’s right for you. Each type of insurance is different, and you have to compare it in a separate way to get the most accurate results.

Car insurance is probably the first type of insurance that you’ll have to get. When you’re comparing car insurance you’ll have to decide if your vehicle is worth getting full coverage on or just collision. If you’re car is older than 6 years then you’ll most likely be looking at getting just collision. Also it’s important to note the amount of coverage that you’re getting. Some insurance companies may give you better rates but you’ll be knocked down to a lower tier of coverage. You’ll want to get the $100,000/$200,000 coverage in most cases however if your car is older and you have no assets then you may opt for the $50,000/$100,000 coverage line.

Renter’s insurance will be the second type of insurance you encounter. While renter’s insurance isn’t mandatory it can be a life saver if something happens. In most cases renter’s insurance can be found for about $100 a year and they will give you $13,000 if something such as a fire happens. If you’re paying more than $100 a year for renter’s insurance you should shop around for a better deal. Likewise if you have more than $13,000 in items then you may want to opt for a higher tier of coverage.

Finally you’ll also need health insurance. Many people get confused and tired of trying to look for health insurance because they have to try to figure out the type such as HMO and the deductible amount that they want. Heath insurance is mostly based off your current age and health condition however there can still be great differences between insurance quotes of different companies. When you’re searching around for health insurance you will need to decide on how much of a deductible you want.

The normal for most people is an 80/20 plan where you only pay 20% of the cost of your medical bills. However this plan can still become expensive if you have to have surgery. In other cases you can get 100% coverage after a certain deductible. That is where you’ll pay the first $1200 in bills and then after that the insurance company pays for everything. While many people go through their work to get health insurance it’s sometimes more cost effective to find private health insurance.

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