With the variety available in the insurance market, it can sometimes be difficult to decide which car insurance provider is right for you. To help, the Good Hands Advice Team has put together five things to consider when purchasing car insurance.
How Much Is Car Insurance?
Of course, one of the first things to do when researching online is to compare insurance quotes. Many insurance companies will provide you with an opportunity to get a free quote on your auto insurance, which can help narrow your list of choices. However, price is only one factor in this important decision.
What Additional Coverage Options Do They Offer?
No matter which car insurance company you decide to go with, they should provide you with mandatory car insurance coverage; which includes liability coverage, accident benefits and direct compensation for property damage. That’s because while car insurance is regulated from province to province, it is still required by law to have – therefore insurance companies offer at least a basic coverage package.
However, where things differ between insurance companies is the additional comprehensive coverage options they provide. For example, some insurance companies offer claim forgiveness – where your first claim is on your provider, and your car insurance premiums may not go up. They may also offer ticket forgiveness – where your rates may not go up if you get a ticket for a minor driving offense. As well as protection for the damage to your car – which, for example, covers the cost of a rental car or taxi while your car is being repaired because of damage or theft.
While not an extensive list by any means, it is still worth researching to see what additional coverage options your potential car insurance provider can offer you.
Do They Offer Any Discounts/Additional Perks?
When researching an insurance company, consider the types of discounts they offer. For example, some insurance companies may offer you discounts if you bind multiple vehicles together on one policy or if you add your home and auto to the same policy. You may even receive discounts based on safety features added to your car like an anti-theft protection or installing winter tires.
Some insurance companies may have partnerships with other companies that can benefit you as well. For example, Allstate customers receive discounts when they purchase pet insurance through Pets Plus Us, home security systems from Liberty Security and travel insurance through TuGo.
While you shouldn’t choose an insurance company solely on the potential perks it offers, it is still worth noting when you are considering a provider.
What Relationship Would You Want With Your Agent?
Although not something most people keep top of mind, it is worth noting. When you bind your policy with an insurance company, you will now have a business relationship with your agent. Therefore, ask yourself how you would like this relationship to look. Some people prefer to have an agent in their local community who can be found in a brick-and-mortar location that they can speak to face-to-face to help with their insurance need. Other people may not see that interpersonal connection as important. These individuals may simply prefer speaking to an available, professional agent to handle their file over the phone or online. So, be sure to assess the type of relationship you would like to have with your agent and see if it aligns with what your insurance provider can provide to you.
Do They Align with Your Values?
Whether it’s choosing a bank, gym membership or even your insurance provider, some people are opting to do business with a company whose value aligns with theirs. For example, you may want to choose an insurance provider who supports local communities or one that is involved with your favourite sports team. You can tell a lot about a company simply by their mission statement.
Disclaimers:
Terms and conditions apply. This article contains information about coverage and discounts offered by Allstate but does not list all of the conditions and exclusions which may apply. In the event of any conflict, the terms and conditions of the insurance contract and applicable law will govern. Links to websites outside of Allstate are provided for your convenience only. Allstate does not control or guarantee the accuracy of any content on any third-party site. Allstate is not responsible for the privacy practices of any third-party site. This information has been provided for your convenience only and should not be construed as providing legal or insurance advice.