Shopping around for auto insurance can save the average driver anywhere from 15% to 40% on premium costs, which is a lot of extra money motorists can keep in their bank accounts.
The good news is, it’s possible to get multiple quotes for auto insurance on the internet to see which policies are most affordable. But while it’s absolutely doable for everyone to do this — and it’s important for everyone to take this step — there’s a little more to it than many people think.
As a financial writer, I get dozens of auto insurance quotes every year for my job. During this process, I’ve learned a lot about making it easier to shop around for affordable insurance. These simple tips can help streamline the process and get more accurate insurance quotes to make the best coverage choices.
1. You’ll have to provide a lot of information
The first thing to know is that getting accurate auto insurance quotes requires motorists to provide a lot of information. Insurers need to know certain key details to offer accurate pricing.
Generally, most insurance companies will ask about:
- Address
- Marital status
- The driving history of anyone who will be on the policy — including details about when they got their license and if they have been involved in an accident or gotten a speeding ticket
- Vehicles that will be on the policy
- Current insurer
- Preferred coverage options
It’s helpful to gather this information before beginning the process of comparison shopping. That way, it will make it faster and easier to provide it to potential insurers.
Taking a look at a current insurance policy can also make it easier to determine what amount of coverage to buy. However, when shopping around, it’s worth thinking about whether purchasing more or less protection might make sense. (Check out this guide to determine the right amount of insurance to buy, as this can change over time).
2. Having a VIN makes the process a lot faster
Whenever I’ve gotten insurance quotes for my job, I’ve been shocked at the amount of detailed information the companies need about the car. It goes beyond just make and model — insurers also want to know about specific safety features the car has.
Most insurers allow drivers to enter the vehicle identification number (VIN), rather than inputting all of these details manually. With the VIN, the insurer can figure out everything it needs to know about what the car comes with, so drivers don’t have to attempt to remember if they got the upgraded anti-theft package or not.
The VIN can be found in the vehicle (it’s often stamped on the engine, on a sticker on the driver’s side door, or stamped close to the dashboard). It can also be found on a current insurance card or on the car’s title and registration.
Having it ready will streamline the process of getting quotes, so find it before shopping around.
3. Quotes can vary a lot from day to day and week to week
Finally, the last thing I’ve noticed is that quotes vary a lot over a short period. I’ve gotten quotes from the same auto insurer with the same information just a few weeks apart and premiums have been off by as much as $40 or $50. So, it’s important to shop around for coverage very close to the time of buying a policy to get an accurate estimate.
Ideally, these tips can help make shopping for insurance easier, as taking the time to compare prices can provide significant savings — and it doesn’t even have to be a hassle for those who put this advice into practice.
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