5 Things to Look For in a Car Insurance Company in 2022

It’s hard to believe that we’re already well into 2022, but with each new day comes a new set of challenges and opportunities. Among the many things you’ll need to keep an eye on this year is your car insurance policy.

As you consider your options for 2022, here are key factors to look for in an insurance provider.

1. Competitive Rates

Firstly, the best car insurance companies typically offer competitive rates as well as flexible payment plans. You’ll want to make sure you’re getting the best value for your money, and a good company should be able to offer you just that.

2. Reputation for Superior Customer Service 

Secondly, a great insurance provider should offer reliable customer service. You’ll want to keep an eye out for providers with a positive reputation in the industry. Online reviews can come in handy in this aspect, so do some research to find out what other customers and industry experts think of the providers in your area.

When reading reviews, look for the following:

• The provider’s claims and payment processes
• The quality of their service and assistance.
• The company’s transparency.

3. Solid Coverage Options 

Next, you’ll want to make sure your car insurance company provides the right coverage for your needs. Make sure their coverage options align with your needs and budget and look for optional coverage items that may be important to you as well. These items may include such as roadside assistance or auto rental reimbursement.

Some of the best car insurance companies also have free bonus benefits, such as:

• Free roadside assistance
• Low deductible
• Courtesy car program
• 24/7 claims reporting

Make sure you know what you’re getting, and make your decision accordingly.

4. A Range of Discounts

Reputable auto insurers are usually happy to help you out if you want to save money on insurance premiums. So, keep an eye out for providers with a range of discounts that could help you save money on your car insurance policy.

Look for providers with the following discounts:

• Multi-policy discounts. Usually, insurers offer discounts to customers who insure more than one car or bundle their home and car insurance policies together. You may also be eligible for a multi-policy discount if you have your auto and renters’ or homeowners’ policies with the same company.
• Good driving discounts. The best car insurance companies offer safe drivers discounts, such as one that would lower your premium if you’ve been accident-free for a certain number of years.
• Student discount. If you’re a student with good grades, keep an eye out for companies that offer discounts to students who are pursuing higher education.
• Low-mileage discounts. If you’re a low-mileage driver, you may be eligible for a low-mileage discount that could lower your premium.

5. Convenient Payment Options

Now, you’ll also want to find a company that offers convenient payment options. You may be able to pay your premium in installments, pay online, or even roll the cost of your premium into your car loan.

Another great way to save money is through a usage-based program. Generally, usage-based programs track your driving habits and offer safe drivers’ discounts that could lower your rate. This program could also provide you with excellent discounts if you use telematics devices to monitor driving habits.

6. Innovative Technology

Then, look for a company that’s using state-of-the-art technology to bring you benefits and savings. Technology is constantly improving. Some recent innovative technology to keep an eye out for includes:

• Real-time ratings, which help you set premiums based on your actual driving.
• Usage-based programs and telematics devices, which let you monitor and improve your driving and get safe driver discounts.
• Mobile apps, so you can handle all your insurance needs on the go.
• Concierge-bot messengers, so you can learn about new car features or request quotes on different cars.

7. Stable Financial Standing

Finally, stay away from an insurer that’s gone bankrupt in the past or has a history of financial problems. Generally, when the insurance company doesn’t have enough money to pay all its customers in case of a catastrophe, you could lose your whole premium payment. You can usually research a company’s financial standing by checking the Better Business Bureau.

Takeaway: Finding the Right Car Insurance

These are just a few things to bear in mind as you shop around for car insurance. Nonetheless, by keeping an eye out for reputable companies and looking at their claims process, payment options, benefits and discounts, and technology, you can be sure that you’re choosing the best company for your needs.