NAIC Information

Written By: Graham McKenzie on October 26, 2009 No Comment

Automobile Insurance premiums are rising and you need to shop around to make sure you are getting the best deal. You want to make sure you have the coverage you need while paying the least amount possible in premiums. Before comparison shopping make sure you know all the discounts you are eligible for.

If so, you?re already a step ahead of the game. Just keep in mind that the rates quoted on these sites cannot take your personal situation into account. If you have bad credit or a poor driving record, your premiums will probably be higher than those listed on your local insurance commissioner?s website.

Search out online resources which pertain to your area by logging onto http://www.naic.org which is the National Association of Insurance Commissioners (NAIC) website. There is a link to NAIC States and Jurisdictions. Once there locate your state or area?s website listing and you will be able to pull up the most current rates of local auto insurance companies. The rates quoted on these sites vary according to your personal situation.

Next, you need to shop around for coverage. Be honest with the companies you call or visit online about your personal situation, your insurance needs, and your driving history. When you receive a quote, confirm that you know exactly how much coverage is being offered for the premium amount mentioned.

Remember that your auto insurance is actually a group of several different types of coverage. Ask how much coverage the quoted premium provides to you and how much each coverage is worth. Make sure you?re comparing similar plans, and know what?s required by law in your state.

After you have compared rate quotes, it is time to begin comparing the discounts between the companies you have chosen from your search. The final quote should reflect all the discounts you are entitled to receiving. Some insurers offer multiple discounts in increments of 5%; some insurers may only offer one discount. The bottom line is the total amount of the discount(s) and your total savings. The final premium should be the best price for the coverage across the board.

The information offered by the NAIC combined with shopping around for the best coverage at the lowest premium price making sure you received every discount available are the steps that will lead to peace of mind in knowing that you got the best auto insurance deal available.

Graham McKenzie is the content syndication coordinator for Carinsurancesa.co.za, a leading South African Car Insurance portal.