Insurance underwriting criteria varies from company to company. So with the same set of details of your car, you could get different quotes from different car insurance companies. If you are comparing over phone, lengthy calls are involved before you start comparing among companies. While over the internet, minor variations in the details you submit can make huge differences in the rates quoted.
Car insurance companies take into account various factors while quoting the price. It could vary from the place you are living, type of car, any history of claims, no claim bonuses, etc. Every company need not cater to every group of individuals. Most companies have specific profiles they prefer to cover so as to lower their prices which can help them gather more customers. The insurance companies make use of various statistics to determine the lower risk avenues. Most of the firms cater to people who would be less likely to make claims, which would be categorized as standard risk. There would be other firms specializing in specific covers like those of sports or classic or exotic cars.
One way of finding a cheaper insurance is review it every year or at least once in two years. Don’t blindly accept your existing insurer’s renewal policy. Try paying up the annual premium at one go rather than installments, because you end up paying unnecessary interest when you do it in installments. Adding a partner to your policy or even proof of your being owner of a house can lower your premium substantially.
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