Introduction
Getting an insurance rate quote is not very difficult. One is able to receive an insurance rate quote over the telephone, in person or on the Internet. It is a good idea to get quotes from several companies before making a decision on which would be the best for you. When obtaining an insurance rate quote be sure that the agent knows the coverage that you would like. You may have to specify certain items as things that you want, or that you do not want. By getting an insurance rate quote by several companies, you are able to compare quotes and make an informed choice as to which is the best for you.
Step 1
Specify items that you do not want when getting an insurance rate quote. For example, if you do not want road side assistance or car rentals included in your auto insurance, mention this to the agent. Some may automatically add such items in as part of the standard policy. You may not even be aware of this unless you take the time to study your policy.
Step 2
Specify the items that you do want when getting an insurance rate quote. For example you may want flood insurance or earthquake insurance on your homeowners policy. You may wish to be insured for broken glass on your auto insurance. The agent will need to know these things in order to give you an accurate insurance rate quote.
Step 3
Be sure that you are adequately insured. An inexpensive insurance rate quote may sound great, but will it be enough should you have to file a claim. In a homeowners insurance policy you may be surprised to learn that actual cash value coverage may not leave you with enough money to rebuild your home. The actual cash value takes into account depreciation. So you will get the depreciated value. Replacement cost coverage will coverage the cost to replace the house at the current cost and value. This type of insurance is what a homeowner should have, even if it raises the price of your insurance premium slightly.
Step 4
If you are a collector, have expensive jewelry, artwork or other items of value in your home, discuss this with the agent while you are getting information on your insurance rate quote. Often the value of such items is more than the amount your household items are insured for in a standard insurance policy. You may want to add a rider to the policy in order to coverage these items.
Step 5
In order to get a lower insurance rate quote, you may want to raise your deductible. Raising the deductible from $500 to $1,000 will lower your monthly payment. Likewise, lowering your deductible will raise your monthly payment. A deductible is the part that you pay before your insurance starts to pay. For example if your deductible is $500.00 and your vehicle has $400.00 worth of damage, you would be responsible for paying the $400. If the vehicle had $700.00 worth of damage, you would pay the first $500.00 and your insurance company would be responsible for the other $200.00.
Tips and Comments
Always update your insurance policy when a change in circumstances occurs. This could mean getting married, buying an expensive diamond call or piece of artwork. It is important to keep your policy up to date with changes in your life. This helps to make sure that you are properly insured.
