Auto insurance is a legal requirement in every US state and Canadian province. Costs are continuing to rise. How can you reduce some of these expenses and still get the best coverage? First, get multiple quotes from the Internet and your neighborhood broker.
You can shop for different types of quotes from a direct-sell insurance companies and offline and online brokers. Auto insurance that is cheapest isn't always the smartest move. Ask yourself, is the company financially secure? Are they reputable and will they pay out if you have to make a claim.
The first piece of the policy is almost always liability insurance. If you only have minimum liability coverage and you injure someone, their attorney can go after your personal assets. Many insurers feel that minimum liability is a gamble. In fact, that is why it is often only a little more money for more protection. Auto insurance varies on car types. Coverage for a sports car is very different from insuring the family sedan or mini-van.
If you are looking to buy a car, consider buying a car that "looks good" to insurance companies. For instance, insurance companies know what kinds of cars are prone to problems. They also know what kinds of cars are most often stolen. If you haven't purchased your car yet, find out what cars make this "good list" among auto insurers.
Consider how much coverage you really need to buy and the price each of these coverages will pay. Think about collision and comprehensive coverage, which is how much you will be reimbursed for the loss or destruction of your vehicle.
Are you carrying $30,000 worth of collision coverage for a $12,000 vehicle? If your car was totaled, would you be able to afford to replace it? If not, you will want comprehensive and collision coverage.
No comments:
Post a Comment