Many people who embark on the laborious task of rate comparison, do so blindly and often end paying more than they should for insurance. Quite often, this happens because they fail to take into account some key factors when comparing rates. After reading you'll be in a better position to make the best judgment on rates and benefits.
Pay Close Attention to Company Payout History
This is a key one. Often you'll find a really good quote and do not realize there is danger lurking benefit the surface. Some companies will use a good quote to draw you in but often the company has a poor track record of honoring claims.
So, the caveat here is that good rates do not necessarily translate into a good policy. You should be able to get information on a company's history by doing a quick search online.
Know Your Minimum Coverage Amount
There will always be a minimum amount of coverage that you must have depending on the state in which you live. It is always a good idea to know this before you compare rates. Any rate quoted will have this take into account and although there are other variables that affect your quote, knowing this minimum amount of coverage will help you weed out the coverage options that do not fit your state guidelines.
Always Maximize Discounts
When you make an rate comparison, always look to maximize the discounts available to you. You can get discounts for things like, security features added to the vehicle, roll-over no claims from a previous policy, having a good driving record and several others. The key thing is that you pay close attention to anything that can translate into a saving on the overall coverage.