Quotewizard Auto Insurance Review
Launched in 2006, Quotewizard has quickly established itself as a leading source of information for consumers seeking to compare insurance rates. In addition to functioning as a leading marketplace for auto, home, life, health, and renters insurance, Quotewizard maintains a resource program for insurance agents. It was acquired by Lending Tree in 2018 and has gone on to become the leading provider of insurance leads in the United States by volume.
How does Quotewizard work?
Quotewizard functions as an aggregator service for major forms of insurance, including car insurance. The unique thing about Quotewizard is the detailed, head-to-head rate comparisons the service delivers based on the information you provide. Users can see point-by-point breakdowns that examine each offer returned by their searches, with key information covering:
- Prices and premiums
- Coverage types, inclusions, exclusions, and limitations
- Coverage limits
- Plan details and specifics
- Crucially, Quotewizard is configured to function as a neutral third-party source. It does not favor any particular provider, plan, or policy, and instead aims to empower consumers to make their own decisions based on complete and impartial information.
Some of the well-known providers who use Quotewizard to deliver car insurance quotes include:
- Liberty Mutual
- State Farm
The service also allows users to conduct side-by-side comparisons of selected providers. With this function, customers can generate at-a-glance overviews that include pricing and premiums, but also critical additional information like the pros and cons of each insurer.
Quotewizard also provides extensive and valuable consumer education resources. In particular, it helps customers understand and learn more about the individual factors that influence their insurance rates. Quotewizard’s digital library covers topics and issues such as:
- Bundling multiple forms of insurance to generate savings
- The value of working with an insurance agent, who can find important details and valuable discounts that a layperson might miss
- The advantages and disadvantages of trying to save money by carrying minimal insurance
- Why it’s important to regularly shop around for the best insurance rates
- Location-based factors, such as the neighborhood where you live
Quotewizard is 100% free to use, and it does not actually offer or sell insurance policies itself. The company earns commissions when users follow through with a quote obtained on the site and buy a policy from one of the end providers that use Quotewizard as a lead generation service.
Types of available auto insurance policies
The exact types of auto insurance you can source and purchase through Quotewizard depend on factors including your location and the insurance company you end up choosing. However, you can count on Quotewizard to provide options for all the major types of auto coverage.
- Liability insurance: Liability policies cover two specific components: personal injury insurance liability and property damage liability. They cover medical costs for other people injured in an auto accident you caused, as well as damage to other vehicles, buildings, and personal property, respectively.
- Collision coverage: This type of coverage is usually optional and will cover the costs of repairing your vehicle (up to the policy limit) after it has been damaged in an accident.
- Comprehensive coverage: Comprehensive coverage provides protection from the financial risks associated with fire, vandalism, theft, and weather damage.
- Medical payments coverage: Adding medical payments coverage will ensure that your policy covers costs associated with your medical treatments if you are injured in a car accident.
- Personal injury protection (PIP) coverage: PIP coverage is an extension of medical payments coverage, extending financial entitlements to lost wages and the hiring of outside help and assistive staff, if you need it.
- Uninsured and underinsured driver coverage: This form of coverage protects you in the event that you are injured or suffer property damage or loss as the result of an accident with a driver who is not insured, or whose insurance will not cover your expenses.
Other options may be available, depending on where you live.
Also, keep in mind that auto insurance requirements vary by state. For example, some states only require that drivers carry a minimum amount of liability coverage, thus making all other types of car insurance optional. Others require drivers to add other forms of protection, such as PIP coverage.
Finally, it is fairly common for banks and financing companies to require car owners to carry comprehensive and/or collision coverage in order to secure a loan. In this situation, it’s a wise idea to carry a specialized type of insurance called gap coverage, which protects you financially in the event that your car is damaged beyond repair before you have fully paid off your loan or lease balance.
It’s a good idea to make a list of all the required and optional types of car insurance you are interested in before you request a quote. The more coverages you add to a policy, the more it will cost.
Pros and cons
The advantages of using Quotewizard to obtain car insurance quotes and information include:
- A wide range of major, trustworthy providers work with Quotewizard
- Quoted rates are often highly competitive
- The site offers extensive informational and consumer research resources
- It’s free to use and comes with no obligation
The service also has some drawbacks and disadvantages. These include:
- Some quote requests cannot be fulfilled onsite, and require users to complete them on the end provider’s site
- You must provide contact information, including your email address and/or telephone number
- Quotewizard and its partner insurers may solicit you by email or phone if you do not immediately make a policy purchase
Quotewizard has been accredited by the Better Business Bureau (BBB) since 2013 and held an A+ rating from the BBB as of September 2020.
The bottom line
Thorough consumer research and careful price comparisons are two critical factors that affect your ability to secure the best car insurance rates. Quotewizard makes it easy to cover both bases in one place, making it a valuable service for consumers seeking auto insurance deals from reputable providers.