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Smart Cookies

Car insurance comparison quotes can fuel savings Add to ...

A friend of mine just got a car insurance policy from a company he'd never heard of.

He had planned to stick with his parents' provider, but then he did some rate shopping with some help from www.kanetix.ca .

If you're in the market for a new policy or want to see how your current policy compares with what's out there, you may also find this site helpful.

You fill out one simple form, as opposed to calling multiple providers and repeating information over and over again, and you instantly receive quotes from competing insurance providers.

If you do see a great quote from a company you're not familiar with, do your research to ensure you're comfortable with the choice and are working with someone reputable.

If you're using the site as leverage for negotiation and need some ideas on how to navigate your call to your current provider, there's a great script on the personal finance blog iwillteachyoutoberich.

While you're on the call, you should inquire about other opportunities that could increase your savings: What would you save if you combined home and auto with the same company? Increased your deductible? Reduced or cancelled optional coverage you no longer need? If you haven't reviewed your policy in the past year, it's time to dust off your papers and see what you can save.

Angela Self is one of the founders of the Smart Cookies money group. Read her weekly column on managing debt and saving money at the new globeinvestor.com.

Editor's note: The original version of this article incorrectly listed the Kanetix web site. This version has been corrected.

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