Buy Car Insurance
Buying car insurance is a time-consuming and painful endeavor that every driver is legally required to do. With that said, let’s save you money, time, and help you buy the right auto insurance. The first step in buying car insurance is deciding how much or how little coverage you want. The single largest cost affecting decision is how much protection/coverage you want. There are a lot of drivers who are just looking to buy the absolute cheapest car insurance possible and there are others who would rather spend more to be better protected. Either way there are effective ways for bringing down your monthly premiums and there are a couple factors that you should know, which will help you determine if an auto insurance policy is good or not.
Car insurance coverage Vs. Cost
There is an average of 6 million car accidents each year in the United States and most individuals will have an average of two in their lifetime. So even if you are a really safe driver the odds are against you and you should keep this in mind when you’re trying to decide between cheap auto insurance and good coverage. The two biggest factors that cause drivers to overpay on their insurance is not paying a high deductible and buying the wrong type of coverage. A lot of drivers overpay for their car insurance because they don’t know what to look for.
Car insurance deductible
The most cost affecting factor that you control when you buy car insurance without compromising coverage is your deductible. A good way to think about the insurance deductible is that you’re providing your insurer with protection at the same time there protecting you. Most car insurance quotes you will fill out online give you the option to choose how much you’re willing to pay in the deductible. Deductibles for auto insurance range from $300-$5000. It is a onetime flat fee when you buy the insurance. Your insurance company will use your deductible to pay for damages that occur as a result of a car accident. The more you spend on your deductible the less you will have to pay each month. Now a few thousand dollars seems pretty high. However, a lot of drivers who stick with the same insurance company save a lot more money over the course of 30 years. Furthermore, there are a lot of auto insurance providers who offer more protection when you pay the higher deductible and do not charge you for the extra coverage.
Get better coverage at a cheaper rate
Individuals do not overpay for their “car insurance” they overpay for non-practical coverage. There are five main types of coverage, and you have to decide what coverage is practical and important for your lifestyle. If you know what the different types of insurance coverage actually cover you can then pick which ones are important to you and find a policy with those types of coverage, saving you from overpaying.
1. Bodily injury liability
2. Medical injury protection
3. Property damage liabilities
4. Collision damage liability
5. Comprehensive damage insurance
You are going to have to decide what type of insurance coverage is important for how you drive and how much risk you’re willing to take. Bodily injury coverage will cover damages that the owner of the insurance policy causes the other driver and passengers. The single largest reason that’s individuals file for compensation is because the other driver who caused the accident doesn’t have enough of this type of coverage. Auto injury lawsuits settle anywhere from 100,000 to over $1 million depending on the amount of damage and how severe it is. Medical injury protection is a type of coverage that will pay for some or all the hospital expenses of the insurance holder cheap insurance policies rarely have this type of coverage, and it can be very important if the insurance holder does not have any form of medical insurance.
Property damage liability will cover any damage to things like light posts, stores, and residences. Collision coverage is where most insurance companies focus their coverage because they are the most common type of damage; they pay for any damages to the vehicle if the damage was caused by one car hitting another. Comprehensive insurance is a little different, and it covers minor damages like broken windows and weather protection most of the time insurance companies set the limit t0 $5,000. This type of insurance is very good for drivers who live in states with cold winters.
Remember you will probably save more money by paying the highest deductible, and it will get you better protection. Many drivers use the money that they saved by paying the higher deductible and invest it in more coverage. Another thing you should remember and consider carefully is what accidents you feel you are more prone to having and then buy that coverage. For example, teenagers are more likely to cause damage to property and should invest in more property coverage. For drivers who live in northern states you should purchase more comprehensive coverage. Buy the best insurance coverage for you and don’t overpay for any you don’t need. When you go to buy car insurance, you should remember every major insurance company gives their clients a discount when they buy car insurance online.