Every driver would be quoted different auto insurance premium based on the information provided. If they change the vehicle to be insured or any other material details they will receive a new quote that may be higher or lower. Also, every company will come back with a figure that could be much higher or lower than the previous quotations.
On own any single quote would not mean much and certainly will give you no idea if it is cheap or expensive. These are relative terms and something can be cheap in comparison to other similar products on the market. That is why auto insurance search should never be over with only getting one estimate. Comparison shopping have the potential to cut your premiums to half when it is done properly.
There are so many factors and variants in the calculations of premiums that four or five quotes would be required to make any sort of assessment. These variants and factors are; applicants’ age, gender, marital status, required coverage limits, driving record, location, vehicle information, annual mileage, and many other details.
Each of these key determinants are assessed, grouped and rated based on statistical information. Furthermore, these assessments are carried out independently by every car insurance company that them being similar to each other is nearly impossible. Some underwriters may place heavy emphasize on driving records while others would look at more weighted factors of credit history, education and profession of the driver to predict their likelihood of making a claim.
To them, not making a claim in the past may not be a sufficient indicator. They would look at your financial position and estimate that you are likely to make a claim if you are running a tight budget and sometimes missing payments. These new and complicated ways of evaluating risks increases the differences between companies and their prices.
Looking at these examples, you may be looking for a company that place a heavy importance on driving records if you have a good driving records but not a great education, zip code or credit history. The opposite would be applicable for someone who does not have a great driving history but have great credit record, own home and good background overall.
Unfortunately, companies are not labelled with these characteristics. Therefore there is no way of knowing which type of policyholders they prefer unless you get quotes from them and compare with others. This is exactly what a broker would do on your behalf if you choose to work with one. Not many people like intermediaries in general and prefer to handle their own affairs.
Luckily this is possible thanks to internet based quote solutions. You can type terms like “cheap car insurance” on your favorite search engine to see a good website to help you out. There will be plenty options from official websites to independent comparison sites. You can choose either and start the process. There are no limits to what you can do online. You can go this way and if it does not seem to yield any results for you can try the other way.