What are the things you look for most in auto insurance?
When looking for auto insurance, the amount of premiums can vary greatly in price. As low as $50 per month on up to $150 per month or more, just for one person. If you have your spouse and your children on your policy, you can possibly get a group discount, but not always. If also thinking by paying more than the next guy you are getting the best coverage, think again. You could be paying more for less! Sometimes companies will keep you locked into the same rate with the same coverage and will only offer cost adjustments at your request. Be sure to ask your auto insurance agent about any discounts or policy changes you can make to reduce the amount of your premium.
- Amount of Coverage
The amount of coverage you need is only important when you have to use it, so make sure you have the most coverage you feel comfortable paying for. If you have a brand new vehicle and you’re making payments, you will most likely have full coverage, and that is because your bank wants to protect what they still own. Once the vehicle is yours, you can have any kind of coverage you desire. With an older vehicle, you may feel it is time to drop to liability only since damage to your vehicle may not give you much back in return. If your vehicle gets totaled and you have been paying $80 per month for 2 years, that will be $1,920, and if your vehicle is only worth $2,500, then after a deductible of $500, you will get back what you paid plus $80. If you are paying $50 per month for 2 years, that will be $1,200, and if your vehicle gets totaled (assumming it’s not your fault), after a $500 deductible you will get back what you paid plus $800.
When (and if) you finally need to use your auto insurance, you need to know the company you chose will be there for you. Most of the major insurance companies have been around for decades, and they are all fighting to be your insurer. At certain times some will offer better rates than their competitiors, so it’s always good to shop around every few years and see if you can get better coverage for a lower price. We all like staying with whom we comfortable with, but when an insurance agent just wants to quote you, that is all it is. They just want to give you a chance to offer you something better.