Millennials Guide to Picking the Right Car Insurance

Millennials are starting to move up the managerial ranks, but they’re entering a workplace that’s less stable than ever. Companies that can find productive ways to work across the generation gap will have a big leg up on their competitors.

Insurance may not be the most exciting part of car ownership, but it’s one of the most important. Here’s how to pick the right policy for your needs and budget.

1. Know Your Needs

Car insurance is an investment that protects your financial well-being. Whether you are getting kicked off your parents’ car insurance or purchasing your own policy, it is important to take the time to understand your coverage options and rates.

While age is one of the biggest factors in determining your individual insurance costs, other aspects like where you live and the type of vehicle you drive are also taken into account. Some vehicles are more likely to incur claims, so they may have higher costs than others. For example, a high-performance sports car will typically have a higher rate than a mid-sized sedan.

Having accurate and consistent information about yourself and your vehicle will ensure that you receive quotes that align with your specific circumstances. You can get a better understanding of your specific rates by using an online quote tool that allows you to provide the exact information that your insurer will use to determine your quotes.

2. Shop Around

While you can shop for car insurance online, it’s important to meet with a local agent and discuss your needs in person. They can help you understand the many different terms and options, and make sure that you’re getting a policy tailored to your individual needs. Additionally, agents will be able to help you find and take advantage of available discounts. In fact, most drivers who switch insurance carriers save money on their car insurance. Those who stay with their current carrier longer tend to pay more, however, because insurers use “price optimization” to keep their premiums high and prevent them from jumping ship to competitors.

3. Choose a Carrier You Can Trust

Choosing a car insurance company can feel complex for many drivers, especially if they’ve never done it before. There are a lot of different factors to consider, including price, policy offerings, billing, customer service and the nature and quality of the company’s claim service.

In addition to comparing prices and policies, it’s important for millennials to choose a carrier that they can trust. Look for a company with a stellar safety record, as well as a commitment to compliance with industry regulations. A good way to determine a carrier’s reputation is to ask around and check online forums for reviews and testimonials.

Geico, which earned a top rating in 2024 Bankrate auto insurance review for best auto insurer overall and also for best budget car insurance, offers excellent customer service and a user-friendly website and mobile app. In terms of pricing, Geico consistently scores as one of the cheapest auto insurance providers in all states, while offering a variety of discounts and its DriveEasy usage-based insurance (UBI) program that rewards safe driving behaviors.

In addition, Geico’s extensive list of features includes rental car reimbursement and roadside assistance coverage. However, the company has fewer in-person agents than some of its competitors, making it difficult to get face-to-face help with questions or concerns. Nevertheless, Geico does offer 24/7 customer support via phone, email or its customer app, which is convenient for many millennials.

4. Get the Right Coverage

Choosing the right coverage for your needs isn’t always easy, especially when it comes to car insurance. A car insurance policy isn’t something that you can just buy and forget about, it’s a living, breathing document that will change over time and that you should review regularly.

If you’ve recently moved, changed jobs, added a teen driver to the policy or had other changes that may impact your rates, don’t hesitate to contact the insurer and ask about discounts that they can offer. It’s also a good idea to shop around and compare prices on a regular basis, as the cost of car insurance has been rising steadily over the past decade.

The best way to do this is by requesting quotes through an aggregator site that can provide you with quotes from a number of different insurers. Some of the top rated car insurance companies for millennials include Geico, Nationwide and Allstate.

When it comes to purchasing car insurance, the millennial generation is a lot #savvier than they’re often given credit for. By taking the time to find the right policy for their specific needs, millennials can save themselves from nasty surprises down the road and continue to work towards their financial goals. The Weiser Agency is here to help! We’ll help you navigate the complexities of car insurance and find a policy that fits your lifestyle.