Save On Insurance By Calling Around. Duh.

Spotted this at the often quite good I Will Teach You To Be Rich blog.

Today they’ve got a face-palm easy post on saving money on insurance rates. The secret insider tip… is to call all the providers and find the best quote.

Geico: 1-800-861-8380
State Farm: 1-877-734-2265
Allstate: 1-877-572-5268
Progressive: 1-800-776-4737
AAA: 1-877-323-4222

The blog says the best way to get a good price is not to ask, “Is that a good price?” but, “What other discounts do you have?”

Comments

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  1. kumquat7 says:

    Put AAA at the top of that list– I just finished shopping around for car insurance and nobody else came close…

    Here’s my eternal insurance conundrum: just how much liability insurance should I carry? Enough to cover what I’m worth or enough to cover a typical lawsuit (does such a thing even exist?)? Not that I’m planning on crashing into any Farmer’s Markets or anything…

    • MedicallyNeedy says:

      Geico came in much lower then AAA. I’ve been a AAA customer for more then 10 years and just raised my “basic” $200 over the last 2 years!

  2. Mary Marsala with Fries says:

    Wow. That’s good info. (Though I

    Thanks!

  3. Triteon says:

    That photo could be used for sooooo many posts on this site.

  4. Triteon says:

    That photo could be used for sooooo many Consumerist posts.

  5. AcilletaM says:

    Yes it could.

  6. Ishmael says:

    In addition to calling these big names, find an Independent Insurance Agent in your town and give them a call. They’ll have access to other companies besides the big ones mentioned above, and they do the work for you. Plus, you won’t be dealing with a bored CSR in a random state who does quotes all day. You’ll be talking to a licensed agent who, if they’re worth your money, will listen to your situation, answer any questions that you have, and sell you what you need (as opposed to too much/too little or whatever drives up the price). They’ll also be familiar with your state’s insurance law and liability requirements. I currently carry my auto and renter’s insurance with a local farm mutual who only sells through agents. The coverage is very comprehensive, and the price can’t be beat.

    Common discounts are for good grades in school, taking a driver’s education course, having some type of alarm system on the car, or having more than one policy with the company. ASK. It varies by company and by state.

    Common surcharges are for blemishes on your driving record, being under age 25 or over age 70, having a poor credit score, or having a performance vehicle.

    kumquat – look around next time you go out. Do you drive around the rich part of town where everyone has a Cadillac/BMW/Porsche? Or do you shop on the other side of the tracks where you’re more likely to see a Kia or beat-up Oldsmobile? You need enough liability coverage so that if you hit someone, you’re not likely to be stuck for several thousand dollars to fix their car. If you do $50,000 in damage, but you only carry $20,000 in coverage, you can be sued for the difference. You, not your insurance company or your agent.

  7. kaycee says:

    I used to shop around every year with an independent insurance agent to get the cheapest price on auto and home insurance. However, my mother told me that in the event of a claim, an agent I had been with for years was much more likely to stick up for me, especially when I had been with the company for more than a year. She also said I was less likely to have trouble collecting on a claim.

    Since then, I’ve gone with one of the big companies, although I did switch a few years ago to a different big company to get better coverage for a lower price. I always wonder if I’m wasting my money, or getting what I pay for.

  8. Sephira says:

    Here’s an insider tip for you – if they ask about any accidents or tickets you’ve had, tell them only what you are sure is on your DMV report. If you say you had a speeding ticket in March but it doesn’t come up on your driving record, they still hold it against you. As a former agent, I’ve spoken with people who’ve stated they’ve had two DUIs three and four years ago – and when I pulled their DMV record, none were listed. But I still had to give him rates taking into consideration the two DUIs.

    Is it shady? Sure, a little bit. But they’re probably already gouging your rates, so turnabout is fairplay.

    Also, in many states you have the right to deny them to take your credit history into account. Make sure you say this after you give your name, birthdate, and telephone number. However, take into consideration that having good credit can help you – you should really only refuse the credit check if you have pretty poor credit or feel that your credit should have no bearing on how you drive.

    Outright ask the discounts the companies offer. Many places will give you a 5%-10% discount for things like who you bank with (credit unions, usually), the school you graduated from, even fraternity/sororities you may have belonged to, in addition to the standard alarm/student/seatbelt discounts.

  9. thrillhouse says:

    I love how Iwillteachyoutoberich discovers things like shopping around for car insurance and asking for discounts and acts like its front page news. Like usual, Ramit falls just short of actually giving good, solid advice.

    If you want discounts on insurance in general, its usually best to have it all with one carrier – home/renters, auto, life… Discounts also come with extra safty and theft deterrant features on your car. Having the VIN# etched into the glass is one, and Police Depts will usually do if for free on certain days. Having a clean driving record helps too.

    Sometimes you can do better overall by breaking out car insurance and going to a discounter like Progressive or Pekin. Term life insurance the same. Zander is a great place to start for that. But if you’re talking discounts, then you usually need to consolidate, or do extra on your end. you don’t get discounts for sucking air – you can’t drive without insurance, and they know that.