For me, August is a month of mixed blessings. On one hand, there’s my birthday. On the other, there’s the yearly car insurance bill.
Currently, our current policy is $899 a year through Farmers. That’s after a $41 discount for paying the full year’s policy at once. (Don’t forget that paying multiple months at a time is a great way to lower your insurance bill.) Of course, $899 isn’t a bad deal at all; but I wouldn’t be frugal unless I checked our other options.
I cannot stress how much I was not looking forward to this. Last year, I kept worrying that I wasn’t checking enough companies. Meanwhile, some companies wouldn’t give quotes online. This meant calling a company and going through the information over the phone. Not my favorite activity. The whole process took the better part of a week.
That is an incredible amount of effort and time in an Internet-immediacy world. People don’t want to do a bunch of detailed research, waiting for call backs. We want a quick, comprehensive answer – preferably one that includes savings.
Taking a cue from a Surviving and Thriving post, I went over to Insurance.com to see if it would make my life easier. Oh my, yes it did.
You just navigate to the site and choose its comparison tool. Then you fill out the three, relatively short pages of questions. The process should take five minutes or less.
One nice thing about the questionnaire is that it identifies discounts for you: safe driving, multiple policy, etc. There’s no wondering whether you’ve left out an option.
Once you submit it, the system takes a minute or two to review. Then you’re looking at a list of quotes from several companies. It’s refreshingly simple.
Another benefit: You can view multiple levels of coverage: Minimum, Standard and Deluxe. You can click “See More” at the end of the quotes to see what kind of coverage levels are in each category.
The Standard coverage levels were a little lower than our current ones, but Deluxe covered five times as much. That’s when I found the Custom option. I chose the levels I wanted for each item, including whether we want towing and rental options.
Then I just clicked Quote Comparison I just clicked to submit. I was able to find one quote lower than our current cost. It was from Safeco – a company I never would have thought to check.
In the end, I decided not to switch just yet. I would need to get quotes on the other policies we have: life and home. Insurance.com has comparison tools for those, too. However, the issue is how long it would take to get a quote for life insurance, given my various health problems.
For now, I’m willing to accept an extra $36 a year to avoid that headache. Hopefully, I’ll find the wherewithal to compare our other policies later this year. Until then, I know that I’m getting a darned good deal, since only one company was able to beat it.
That said, apparently Insurance.com saves customers more than $500 on average; so I urge you to go and check it out for yourself. You might be one of the lucky ones who can save hundreds.
Have you guys compared rates recently? Did you use an online site, or did you slog through the companies individually?