When it comes to cheap insurance policies, there are two different schools of thought on the matter.
Cheap can simply refer to something that is inexpensive.
Unfortunately, cheap can also sometimes refer to things that are of poor quality - like "cheap and nasty."
You definitely want to avoid the cheap and nasty scenario when it comes to your insurance policies. Instead, you want to aim for "inexpensive quality" as your target.
The next big question is how do you go about finding quality auto insurance at an affordable price?
There are a few trade secrets that are so perfectly simple but are often ignored by the average insurance consumer.
I want to share them with you today so that you can have the best chance of getting the cheapest car insurance possible without sacrificing quality and reliability.
Tip #1- Get the right amount of insurance for your needs. There is no point in buying more insurance than you can use. Although some people do under insure, a lot of people also over insure. Frankly, that's just a waste of your hard earned cash.
If you are driving a car that doesn't have a high resale value, be careful not to insure it for more than it's worth. You aren't going to be paid more than market value even if you have a lot of insurance and the car is totaled.
Here's another example: Don't buy an umbrella insurance policy unless you have enough assets to really need it. It can be worth the money, or it can be a waste.
If you do need an umbrella insurance policy because you have a lot of assets or you have a lot of risk (teenage driver, pool, etc), it could be well worth the investment if tragedy strikes. You won't lose everything you've worked all of your life to amass.
Tip#2 - Combine your various types of insurance policies with one company when possible to get the added benefit of multiple policy discounts. If you are purchasing auto insurance, home insurance, life insurance, etc., it can work to your advantage to choose a company that deals in the various types of coverage that you need.
Tip#3 - The best way to find cheap insurance policies is to shop around! Don't agree to the first quote you receive. Competition is increasing which usually means that you can compare insurance quotes and then negotiate with your preferred or favorite insurance company to get them to match their competitor's quote.
Here are the companies I use to get free quotes and search for cheap insurance policies. You might find them helpful, too.
Tip#4 - The final little trade secret that helps you get the cheapest car insurance policy is to know about possible discounts and ask for them. There are quite a few discounts available that drivers fail to claim. It's like free money to the insurance company!
Check out these car insurance discounts and see which ones you qualify for. Once you've got your basic quote in hand, call the company and request the added discounts to bring the price down further.