Major Car Insurance Mistakes

Avoid doing the following major car insurance mistakes. Furthermore, shop around before buying car insurance and get quotes from top car insurance companies. But first, read this list:

  1. Car on a rural road

    Choosing a very high deductible. It is good to have a high deductible, as long as you can afford paying for it. If you have full coverage on your vehicle, it seems very good to select the highest deductible available to keep your premiums low. But, depending on your driving record and the type of vehicle, raising your deductibles up from $100 to $1000 may not make a major difference. If you do not have a very good driving record, increasing your deductible may not save you as much as you want.

  2. Sacrificing coverage for low price. Many companies claim to have the lowest premiums in the industry, but that does not always mean they are the best companies to do business with or they have the best services or coverage options. A low-priced policy does not necessarily equate to a quality product. Also, make sure you do not stick with just the minimum limits, just to get the cheapest option. Insurance is a product that provides you with financial protection, and if you select to carry the lowest limits required by law, you are putting yourself at-risk. You should carry enough coverage to protect the value of your car and the one of your assets.
  3. Failing to buy coverage that protects you against uninsured and underinsured drivers. Uninsured drivers put you at risk every day, and they do not have the liability protection to pay for your medical bills or property damage coverage to pay for the damage they have done. You can buy Uninsured Motorist protection, which will act like liability coverage for you and your passengers.
  4. Not checking the carrier. You should always check the financial solvency of a company before you consider it an option. Otherwise you risk ending up with a carrier that cannot afford paying reimbursements.

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