Are Car Insurance Commercials Being Honest?

By Author: Marcus Stalder
Total Articles: 491
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In this day and age the insurance industry is extremely competitive, and it can be difficult to determine how to make sense out of all of the claims you see on insurance ads and commercials. Many leading insurance companies will tell you that all it takes is just a few minutes on the phone or online in order to reduce your car insurance by as much as 40% But is this true? Statements such as these can lead any American to switching their car insurance overnight, but are you really saving money on your car insurance this way? Here we will look at those claims and give you the information you need in order to really save that much on your car insurance.
When it comes down to a statement such as "save 40% on car insurance" the first thing you want to do is look at this number realistically. What this stamen means is that if you are currently paying $1,000 a year on car insurance, then that company is claiming they may be able to knock off $400 from your insurance budget. Sound appealing? Of course it does, but how possible is this insurance slash?
The major issues that will affect your car insurance premiums will ...
... be the details regarding your vehicle, your driving record, the types of insurance you want, and your insurance history. If you have a good driving record, a reliable vehicle, and a clean insurance history with no claims, you will qualify for good rates on insurance. So unless these factors change, you may not see too many drops in your insurance rates.
That doesn't mean there aren't ways to save on car insurance. Statistically speaking it has been found that you CAN reduce your car insurance by as much as 15% by simply dropping off some insurance riders you aren't using. Each additional rider you put on your policy will raise your premiums by as much as 3-10%, and dropping frills and riders you don't use (such as car rental coverage when you are travelling for example) will save you money on insurance. Sometimes even dropping comprehensive insurance can save you as much as 35% on your policy.
As well, every insurance company is different and will evaluate you differently. This notion leads to a savings on car insurance simply by comparison shopping. It has been said that you can save 30% on your car insurance premiums just by doing a little bit of homework and shopping around. The best way to find out if this fact is true is to simply comparison shop yourself by going online and checking out quotes from different insurance companies. You will see there is a substantial difference in quotes just between insurance companies.
When you are looking for lower car insurance quotes, most of the time the bulk of the work will be up to you to reduce your premiums. It is possible to save 40% on car insurance quotes as all of these leading commercials and ads claim, but you need to do the work to find out where those discounts are. One advantage you have is the competitive nature of the insurance industry, and the fact that every company weights their criteria differently. But if you don't shop around, and go with the first of the car insurance quotes you shop for, you won't know where the savings are and you may not save money.