Car Insurance — How A Young Man Saved $2644 Within 30 Minutes
Posted by MyChoices on 02/13/08 in Business
A 25 year old young man was able to make savings of $2,644 on his car insurance premium. What did he do? Is it possible for you to get such savings too? If so, how?
About what he did, maybe he just did what everybody else does before getting car insurance: Get car insurance quotes but in a slightly different way (I’ll share this later in this article).
Or, maybe he was very lucky to be at the right site at the right time. Whichever way, many other young men can also get exactly the same results if they also have exactly the same profile.
However, if you don’t have exactly the same profile you could also get the same results (or better). But then, it would be just a probability. What is guaranteed is that you’ll surely make savings of at least a few hundred dollars unless you have done this with this exact strategy not so long ago.
So what is the strategy?
Visit car insurance quotes sites. Ah, you already know that! But here’s the twist that makes the whole difference…
Make sure you visit at least three of such sites to ensure you have all the great offers available (Make it five to increase your chances of getting better results). Make sure it’s the exact same details you fill in all of them.
Site owners have interests they protect or represent. If you visit just one site the sponsor’s interests may keep you from the best offers as those might not be in their best interest. You could be very lucky to just land the quotes site that has the best offer for your profile. But if you miss it on that site, then you’ve lost out.
In case you are wondering why all insurers don’t have the same rates, here’s why…
Insurers have different rates despite the fact that they all use the same factors in deciding an insured’s risk level. This is because they all weight each factor differently.
Now imagine 50 experts who have a set of 12 factors to decide how risky it is to insure people. Each gives his/her score for each factor. These experts will end up with 50 different sets of results. As if that isn’t enough, these factors (scored differently by different experts) are then used to score different unique profiles with unique specific details.
Let’s assume that there are 2,000 unique details possible from profiles in the whole driving population. You’ll see that you’ll get such a great disparity between the highest and the lowest quote that it would result in so much savings if you got the lowest price.
So which insurer offers the lowest rates? It depends on the profile, coverage and other details provided. You can only know by doing some research. That’s why you are encouraged to get quotes from at least three sites. Please, note that because an insurer offered the best price for one profile does not mean that they will give low quotes for your profile.
Here are my favorite sites for car insurance quotes…
Hometown Auto Insurance Quotes in Minutes
Chimezirim Odimba writes for Car Insurance.
Tags: Car Insurance, car insurance quotes, car insurance rate, insurance premium
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