Shopping for car insurance

Knoxville (WVLT) - We are all trying to save money where ever we can, and that's even the case when it comes to car insurance.

Here are a few tips to follow for car insurance review.

The National Association of Insurance Commissioners recommends that consumers review car insurance policies every year. Yet, only about 20 percent to 35 percent of people actually do so.

There are many benefits to annually reviewing your car policy. Either you will confirm you have the right coverage for your needs, or you'll gather crucial information for making smart decisions about switching providers.

If you decide to shop around for a better deal, investigate new companies carefully to avoid any policy pitfalls. Most consumers simply look for the best price, it's important to consider other factors. Can the new company successfully underwrite a policy under the terms you request? Is it considering rate hikes in the near future? Time your switch so that you won't have a lapse in coverage.

Determine if your needs have changed. Think about whether recent life changes require you to add new coverage.

Check your current discounts first. Many insurance companies provide discounts to consumers who purchase multiple policies.

Always compare apples to apples from one company to another.

Get accurate quotes from companies. Look for quality reputation of the insurance company.

The insurance association says they find a lot of people are underinsured, some policy holders may have only $25,000 of coverage to repair someone else's vehicles. If you consider that the average car is in the $25,000 to $35,000 range, then multiple-car accidents will wipe out your coverage. The other people involved in the accident will be looking to you personally to make-up the difference.

news source : http://www.volunteertv.com/news/