Insurance might not be the most interesting part of having a new car, but it's arguably the most important thing to pay attention to. After all, it's your line of financial defense in the event of an accident. As always, the best way to get a deal is to shop around and get quotes from multiple companies. Read this article to learn about how to choose an insurance carrier for your auto insurance.

1. Know the Coverage You Need

It's not always about getting the cheapest policy. On the contrary, the most inexpensive plans might not have the minimum coverage that your state requires for its drivers; for example, it may not have comprehensive insurance to cover damage done to your car outside of collision settings, like vandalism.

Your circumstances may also demand additional protection. For instance, if you're leasing a car, gap insurance might be required to add further coverage in the event that the car is totaled.

2. Determine What You Can Pay

No matter what you shop for, it's prudent to know what you can afford to pay ahead of time. It's as simple a question as how much money you have to spend on auto insurance.

Before you decide to cut back on other expenses, see if you can qualify for discounts. Some companies offer lower premiums to teenagers with good grades, adults who stay within low-mileage thresholds, and those who take driver education classes.

3. Choose an Affordable Deductible

This step goes in tandem with the previous one. Be sure that you can afford whatever deductible you choose; this is the amount that you will have to pay before your insurance company pays for the rest of a loss.

You may be able to choose as little as zero for your deductible, but that comes at a higher monthly cost. On the other end of the spectrum, a higher deductible nets you a lower monthly cost.

4. Get Multiple Rate Quotes

After you've picked a few insurance companies and have decided on your budget and deductible, it's time to start getting quotes to compare against each other. Simply put, these are estimates of what you might pay for insurance based on your driving history, where you live, and the type of car you drive.

Some companies rely on insurance scores generated from proprietary formulas to determine how likely you might be to file a claim in the future. Others consider whether your car and zip code are associated with higher rates of accidents. All of these can prompt higher estimates.

5. Research the Insurance Companies

Finally, don't neglect to research the financial health of the most promising insurance companies. After all, low rates won't help if the company goes bankrupt before you have a chance to benefit from them. Ask friends and family for recommendations, and look online for reviews of former and current clients.

When you're ready to insure your new car, don't miss any possible opportunity to get every discount you're eligible for. For example, you might qualify for a reduced premium by maintaining a great credit score and a clean driving record.