For motorists who have not purchased coverage, the best approach to take in order to find the most affordable insurer is to shop around. The state’s insurance market is highly competitive, consisting of a wide variety of companies attempting to obtain policyholders. The likelihood of finding the cheapest premium becomes much better if consumers compare quotes from as many carriers as possible due to the difference in rates offered by each insurer. Studies have shown that the premium for the exact same product can vary up to 200%, which is quite a significant number. Shopping around will help prevent being overcharged for a policy.
The Arizona Department of Insurance also suggests taking advantage of any available discounts to lower rates that are offered by insurers. Consumers should be sure to ask about any that are available since not all companies offer the same discounts and the percentage deducted off of premiums can vary as well. Another common suggestion is to raise deductibles if an individual has a policy that includes comprehensive and collision; the more the insured is willing to pay out of their own pocket in the event of a loss, the less a company will usually charge for coverage.
Individuals that are currently insured may want to periodically shop around to make certain that the rate being paid is still competitively price. Although it may not be worth it to switch companies to save a few dollars a month, there is always the chance that a carrier has come along that may be able to provide coverage at hundreds of dollars less a year. Shopping around is free and can save some money. This is especially true if a motorist has cleaned up their driving record and has become a more attractive risk to insurers.