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The most confusing concepts in insurance and the most important

The most confusing concepts in insurance and the most important

Other than shopping regularly, understanding these coverages and knowing what you need to buy is the biggest way for you to either save money and make sure you have the right protection should you be involved in a bad situation. To summarize the key learning’s from this section:

Understand your personal situation, and how each coverage can affect the price you pay. Based on this you can determine how much protection you should have on your policy.

Buy enough insurance coverage, not too much or too little. Following the basic concepts outlined here, you should be able to review your current policy and shop for no down payment car insurance. This is not rocket science, but it does take a little time to make sure you understand how your personal financial situation relates to the coverage you buy.

Your Declarations Page (Dec Page), which is sent to you by the company at each renewal, will describe the coverage limits and deductibles on your car insurance first month free. I suggest you review this information at each renewal to ensure you are adequately covered.

You are now ready to go shopping!!!

Now, just pick a couple of sites or phone numbers and give them a try. You might begin with your current company to see if rates have changed for new customers. Then try one of the Independent Agent market sites or phone numbers. This way you can get several quotes from different companies and quickly tell if your current price is a “good deal.”  If it is, great. You can try a couple of other sites to verify other channels, maybe do some auto and home quotes to see if all your rates are competitive, and if so, have some peace of mind. Then shop again in 6 months to a year.

If you quote more broadly, try 2 to 4 of the direct company sites, testing the process and prices quoted. Then you can compare the very cheap car insurance no deposit you received from the independent agent site, with other direct to customer sites companies

If you follow this process, you’ll be able to get prices from 10 to 15 companies in about 2 hours. If you want to quote your home insurance at the same time – which I recommend – then add an hour. In short, in just a few hours you’ll be able to shop for no down payment car insurance, something you may have never thought of trying before – and saved some money in the process.

Over the next several pages I will walk you through the process – giving you detail on what information you will need, what you can expect, and how you can provide information to get no down payment car insurance.

This is time well spent. You may be able to save yourself a few hundred dollars. So, don’t think of this as shopping for pay as you go car insurance no deposit, but saving money for your next vacation or that new big screen TV you’ve been wanting!

There are a few basic pieces of information that you will need to get a quote from any insurance company. Gather this information before sitting down at the computer or making a phone call.

Current Declarations Page – this document describes the current coverage you have.  You’ll need the information to get an apples-to-apples price comparison. The Dec Page will also tell you the price for no down payment car insurance and the total premium you are paying. Make sure you understand what coverages you have purchased.

Driver’s License Numbers – For all drivers in the household who operate your vehicles. This information is needed because the company will ultimately order your Motor Vehicle Report (MVR) or driving record.

Dates of Birth – You will need to provide the date of birth for all drivers in your household. This may sound simple, but make sure you have it.

Social Security Numbers – For some companies this is optional. For others, you may not get an accurate quote without it. The reason the insurance company will ask for this information is that in most states companies use an insurance or credit score in rating the policy because higher credit scores have historically demonstrated greater levels of stability. For now, you need to know that providing this information is safe (companies go to great lengths to protect your information on their websites) and providing it will give you a more accurate rate. If you do not provide it, the company will try to order a score on you anyway. If your score comes back as incomplete, or they can’t find you in the database, the company will slot you between the average and the worst credit level. If you have excellent or good credit, this will significantly raise your rate.

Vehicle Information – This includes the basic information about each vehicle you want to insure: Year, Make and Model (e.g., 2018 Ford Taurus). Most company websites have to drop down menus that will take you through the process. In addition, depending on the type of car(s) you are insuring they will prompt you through more specific details about your car such as the number of doors, engine size, 2-wheel drive, 4-wheel drive, or AWD (all-wheel drive). If you are quoting via the phone, then have your Vehicle Identification Number. The VIN can generally be found on your vehicle registration or bill of sale. If you don’t have the VIN or don’t know the specifics about your vehicle, you can get a quote, but it probably will not be as accurate as it would if you had complete information.

That’s it. With this information, you can generally get a quote from any insurance company. Now let’s go to shopping for no down payment car insurance.

 

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