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Auto Insurance TipsAuto insurance is important protection for you, your family, and other people on the road. There are a large number of company’s that sell insurance. Rates can vary a lot so you can save by getting quotes from multiple companies. You will often get additional discounts by combining your auto and homeowners or renters coverage with the same company. The agent you choose to do business with should explain your coverage’s and options to your satisfaction. Coverage laws differ by states but generally there is a minimum coverage required and an option to purchase more. As an insurance agent I know that many people will ask for the minimum amount of coverage. In Texas that is 20/40/15 which means $20,000 per person for liability insurance (if you hurt someone), $40,000 liability maximum per accident, and $15,000 for property damage. THIS IS NOT ENOUGH! If you hurt someone in an accident there is a very good chance the injury will be greater than $20,000. It is not uncommon for an injury to be $100,000 or more. The minimum for property damage is also too low to properly protect you and other motorists. Ask your agent to give you information on the incremental cost for higher levels of protection. The maximum available for liability is typically around $500,000. This is good coverage but still may not be enough, especially if you have a lot of assets. If you want more coverage than the auto policy offers you can buy an umbrella that adds an additional amount. For property damage the maximum offered is typically $100,000. Keep in mind that there are vehicles on the road that are valued at 100K or even more. In most states there is uninsured motorist coverage available at extra cost. This pays you if an uninsured or under insured mororist injures you or your property. This is good coverage to get if it is affordable for you. You can also purchase medical coverage. If you already have health insurance you may want to decline this to reduce your insurance cost. Other options to discuss with your agent could be towing coverage, rental reimbursement, gap insurance and possibly other coverage’s. A good agent should talk to you about every possible discount available from the company. These could include things like a vehicle alarm system, multiple vehicles in the household, drivers training, affinity group, (teacher, police officer, fireman, ect.), electronic fund payment, ect.. Some other ways to save on your insurance could be to have a very inexpensive car and only buy liability insurance. This can save a lot, especially for a young driver. You can also check with your agent for tips on what cars have lower rates before buying a new vehicle. In general, moderately priced 4 door sedans are on the low side. You can also save by having a larger deductible for your collision coverage. Ask your agent about the cost difference for different deductible amounts. By Glenn Lamb http://Insurance-For-Texas.com/ http://houston-auto-insurance.com/ http://houston-homeowners-insurance.com/
Read Others Related Articles on Renters Insurance Can Online Auto Insurance Save You Money?As with buying other products and services for your car, you can save yourself a good deal of money with online auto insurance. While there are still many ways to buy insurance in person today, the advantages of doing it online greatly outweigh the negatives, if there are any. Buying on the web is: • Simple – you can gather all your own information and enter it yourself • Easy Access – you can do it from home, at 2 am, in your pajamas • Economical – because you no longer need an insurance agent, costs are cut and passed on to you It also makes it very easy to compare prices between several different online auto insurance companies, and to find special discounts that may not be mentioned by agents. There are a few circumstances that make it a better idea to use an agent than online auto insurance. For instance, if you own a street rod or specialized and valuable car, you should talk to an agent to ensure you are covering all your bases. If you own a company fleet of vehicles that all need to be insured, or if you run a delivery company, you should also buy from an agent rather than online. However, for almost all purchasers of insurance, online car insurance is the way to go. How To Buy Auto Insurance Online To save yourself time, have all your car information together before you go shopping for online car insurance: your VIN; the make, model, and year of your car; the license numbers and birth dates of all drivers in your household; and records of previous accidents and traffic violations within at least the last three years. Give yourself some time to work on the policy. You’ll be filling in a lot of information and answering a lot of questions, so don’t do this at work. Many online auto insurance companies advertise that it takes no more than fifteen minutes to get your policy; count on a half hour or more instead. And make sure you have a printer hooked up and ready to go, so that when you finish your policy and it’s approved you can print the documents and cards out right away. Don’t offer information that the insurance company doesn’t ask for. Most online auto insurance companies ask for information about traffic violations and accidents you’ve had within the last three years; if you had an accident three years and a month ago, don’t mention it. Also, if your accident did not go on the police record for some reason (for instance, you had an accident in a parking lot that you took care of yourself), don’t mention it. One accident, even if it’s not your fault, can double your premiums. Auto insurance, online or offline, is in the business to make money; it’s your job to ensure you keep as much of your money as possible. Finally, update your auto insurance information at least annually, and shop around for online car insurance with other companies to see if you can get a better deal elsewhere. The insurance industry is volatile, and you’re likely to see changes every year that may benefit you. Just because you find a better deal with another company doesn’t mean you need to change your insurance company to save money; call them and tell them about the other company’s deal to see if they offer to match it first. By David Bloom (auto-advice.com) |
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