At CoverHound, we take pride in matching you up with the very best car insurance providers that fit your particular profile, and preferences. Here is a broad overview of five classes that most consumers looking for car insurance coverage fall into:
First-Timers are looking for their very first personal car insurance policy. Most people in this category have just moved out of their parents’ house, and require their own coverage. Others just purchased their first car and have no interest in sharing a policy with their parents. Here is the typical profile of the first-timer:
- Low-Mid Income
- Age 22-25
- Low-Mid Value Vehicle
- Price Sensitive
Top Tip for First-Timers: Purchase a used, lower-value vehicle. This will help mitigate the relatively high cost to get insured if you are under 25.
Up & Comers
Up & Comers are a group that is going through a transition in their lives. Graduating from their early twenties, these folks are beginning to get a bit more serious. They are career-focused, and are enjoying having a bit of cash to do things they want, when they want to. Because of this transition, they have some difficulty evaluating their true needs. The typical profile of the Up & Comer:
- Age 26-34
- Mid-High Value Vehicle
- Price Aware
- Looking for mid-high coverage
Top Tip for Up & Comers: Don't stop at an auto insurance policy. Be sure to protect your valuables with a renter's or homeowner's policy. Many carriers offer both, and if you bundle with your auto policy you can qualify for additional discounts.
Because of their financial position, the Budget-Minded group would prefer to be without car insurance altogether. Unfortunately, by law, all individuals looking to operate a vehicle are required to carry a valid insurance policy. Here is the typical profile of the Budget-Minded:
- Low Income
- Low Value Vehicle
- Price Sensitive
- Looking for state minimum coverage
Top Tip for Budget Minded: Maintain consistent coverage. Any cancellation due to non-payment, or any other reason, will result in a lapse in coverage on your record. Lapses can cost you, with price increases of up to 20% when you get your next auto insurance policy.
The Family Focused group has many responsibilities. With a lot of responsibility comes a lot to lose. As a result, the Family Focused group tends to have a high demand for Insurance products. Here is the typical profile of the Family Focused:
- Mid-High Income
- Multiple Vehicles, Mid-High Value
- Age 35-50
- Interested in High Coverage & Multi-Line Products (ie – Home, Life)
Top Tip for Family-Focused: Work with carriers that have multi-line offerings to serve all of your insurance needs.
The Experienced driver is, well just that, experienced in driving vehicles. The Experienced driver’s needs are changing as they age. They likely do not have any children to look after, and may even be in retirement. Here is the typical profile of the Experienced group:
- Age 51+
- Low Mileage Vehicles
Top Tip for Experienced: Understand that the annual mileage you drive your vehicle is an important rating variable for car insurance companies. As a result, please be sure to pay careful attention when answering that question. You can save money if you don’t drive as much as you used to.
Regardless of whether you strongly identify with any of the above groups, you can be confident that CoverHound will match you up with the right auto insurance providers. Using our complex matching algorithms, we will save you time (and money) when shopping for your next car insurance policy.