Online Auto Insurance – Save Money, Save Time

An oft-quoted statistic is that you can save up to 25% on your auto insurance by shopping for it online. That sounds great, but no one ever really tells you why. The truth is, that number doesn’t represent just the discounts you’re likely to receive, it’s a representation of the time saved by using online comparison tools, the fees waived when you purchase online and agree to maintain your account that way, and the discounts and credits on your policy, that you may not be told about in a telephone or face-to-face encounter.

Shopping online for auto insurance, then, saves you money on insurance in much the same way that using online auto loans calculator site saves you money on financing:

• It saves you time. Clicking for comparisons is much faster than making phone calls or visiting agents in the office. As well, it allows you to do your shopping at your convenience. The net, after all, is always open.
• It provides you with information. Most auto insurance websites have extensive collections of articles about how to select insurance, what different coverage options are really for, and how to maximize your savings.
• It offers multiple options. Many online insurance sites represent many insurance companies, rather than just one, so you can request quotes from several at once (for comparison) or just ask for the best offer based on the information you provided.

Maximize your Savings

How can you maximize your insurance dollar when looking for car insurance online? It’s not that difficult. In fact, many of the same techniques for saving money off-line, apply to internet shopping.

• Shop around: Comparison shopping allows you to compare what you’re paying in premiums and deductibles as well as see what your coverage options are from various companies.
• Choose a higher deductible: The more you’re willing to pay out-of-pocket when you file a claim, the less you’ll pay in annual premiums.
• Go electronic: You’ll save money if you agree to pay your premiums by EFT (electronic funds transfer) and even more if you also agree to receive your statements via email (if your company offers that option.)
• Bundle your coverage: Putting your homeowners and auto insurance policies with the same insurer often earns you a discount on one or both.
• Ask about discounts: Insurance discounts exist for everything from being a mature driver, to taking defensive driving classes (many of which are offered online), and from your job title to the kind of car you own. Always ask – when shopping online use the instant chat and email options.

Shopping for auto insurance is something we all have to do. By going online, not only will you save time, you’ll also save money.