Getting the Best Car Insurance Rates

Getting the best car insurance rates these days has become a lot easier thanks to sites that give consumers the ability to compare car insurance rates from several companies quickly.

Car insurance is a must to protect yourself and others from costs incurred by injury or property damage if you’re involved in an accident. You must have car insurance to register your vehicle. 

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The biggest question when shopping for  car insurance is how much coverage do I need? The minimum amount of car insurance you can carry is usually set by the state you live in, so you can use the minimum coverage as a starting point. In addition, you will have to determine the minimum amounts you want for each type of insurance coverage.

Types of car insurance coverage include collision insurance, which pays for damage to your vechicle if you collide with another vehicle or object.  If your car is financed, the lien holder will require you to maintain a certain level of coverage just in case of loss or damage.

Comprehensive insurance coverage pays for damage or loss to your auto from other sources other than collision, like fire, theft, etc. Banks will require you to have comprehensive coverage if your auto is financed.

Medical coverage pays for a limited medical expenses for you or a passenger is injured in an accident.

Other types of coverage include towing expenses and rental car expenses during the time your car is being repaired. Car insurance policies will pay a certain daily dollar amount for a rental car for a certain amount of time, usually for a month.  

Now that you have determined what types of coverage you need and want start your search for the best car insurance rates. When you’re comparing rates be sure to compare apples to apples, the amount of liability coverage is usually quoted as 25/50/25, which means up to $25,000 in bodily injury coverage person/ up to $50,000 if two or more persons are hurt/ up to $25,000 in property damage. 

Tip: A good place to start is with an insurance company you already have a relationship with. Some insurnace companies will give you a discount on auto insurance rates if you already have home owners insurance or other types of insurance with them.

MonitorBankRates.com has a comparison tool you can use to start your search for the best auto insurance rates from insurance companies in your zip code.