Insurance
Are you in Good Hands?
Shopping for auto insurance should be easy given all of the advertisements on television and websites offering instant quotes. We have compared three top insurance providers using the following criteria to complete the application and see how they measure up:
• 30 year old single, male.
• No DWI or infractions.
• Lives in urban California.
• Car is a financed 2009 Honda LX coupe with low miles.
• Commutes 30 miles per day (one way).
• 18,000 miles driven annually.
The first company queried was Allstate. Given the above criteria the policy recommended was $141 per month. This quote fell between the other two in terms of monthly cost. The Allstate policy comes with a $500 collision deductible, no rental reimbursement and $100,000/$300,000 in bodily injury liability and uninsured/underinsured motorist injury. This was the highest coverage rate of the three.
Geico was the least expensive but also offered less coverage. They cover $30,000/$60,000 in bodily injury liability and uninsured motorist injury. Their deductible matched Allstate at $500 but the Geico quote does include rental reimbursement, up to $750 per claim.
Progressive, being the most expensive of the three, offers $50,000/$100,000 in bodily injury liability and also has a $500 deductible for comprehensive and collision coverage. Rental reimbursement tops the others with a maximum of $900 per claim.
While this is not a completely fair evaluation of which auto insurance company rates are cheapest, it does show the benefits of shopping around. If you depend upon the use of a car for your job you may want a policy with a higher rental reimbursement amount, while if you are looking for a lower monthly payment you might consider doing without a rental car and spend your money on a higher rate of collision coverage. Whatever your decision may be, there are many internet services that can match you with a plan that is right for you. Auto insurance is a competitive business and you can win as a result.
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