Car Insurance

Understand Your Needs Before You Buy

 

Establish a  list of your auto insurance needs before getting an insurance quote. There are two separate aspects to this list - the requirements of your state and your own coverage needs and wants.  The needs rarely have an effect on your premium but the wants can impact your quotes drastically.

 

First, determine exactly what your state’s minimum coverage requirements are. Each state is different, so make sure you thoroughly research what you need. This is your auto insurance coverage ground level and you can work up to build a policy that perfectly fits your needs.

The rest is based on your assets, driving record, and comfort.

 

The amount of insurance you want covered for bodily injury and property damage liability insurance is something to think about carefully. Medical and repair costs are rising, take this into account. It is suggested that you purchase enough coverage to insure you have ample insurance in case of a claim.

 

Next, checking into your driving record can unveil quite a bit of information. This will help you understand why you are getting the quotes you are getting. Maybe there is a speeding ticket from a few years ago or a small accident that you will need to consider during the insurance quote process.

 

Lastly, there is your risk tollerance. Consider more coverage if you have a more expensive vehicle, are worried about losing use of your car for a couple weeks and not having extra money for a rental. This is the part you can influence the most - do you want to pay extra for peace of mind or save some money with a lower deductible?

 

Check for discounts

 

Make sure to check on what discounts may be available to you prior to buying auto insurance ,including a discount for good students;  buying a vehicle with safety features like airbags and Anti Lock Brakes (ABS), military service or even work affiliations. A little due diligence could uncover cost-savings.

 

Keep Consistent Coverage

 

If you are switching insurance companies, be careful to avoid lapses in coverage. If your current insurance policy expires and the new one has a few days before going into effect, you would be left without coverage. This is not only unsafe, but illegal.

 

To make sure this doesn't happen to you, wait until your new policy goes into effect before canceling your previous insurance policy. If you are changing at the end of your current insurance policy, work closely with your companies representative or agent to make sure that your policy will keep you fully covered durring the change over period.

 

Also, when changing companies mid-policy, be sure to get confirmation of the termination from your current insurance company in writing. You will need this proof if there are any issues in receiving monies of an unused policy, just to be safe.