Getting The Most From Your Car Insurance Policy
- Date: 2007-11-01 - Word Count: 618
Share This!
If you are like most people, you probably grimace when you are writing out your check every month or every quarter to make a payment on your car insurance policy. On one hand you hate to do it but on the other hand, you realize that a car insurance policy is something you absolutely need to have, even if it is not required by your state's laws, where it is required in most states.
While it may seem counter-productive to some to pay for a car insurance policy that only springs into action when something bad happens, that insurance policy is also buying you peace of mind and protection. In an accident, the aspects of personal liability, personal damage, and property damage can quickly add up to a healthy six figure number, and sometimes even more.
But it is interesting to note that while most people understand that they need to have a car insurance policy, very few people understand how car insurance works. Instead of obtaining the information they need, they continue to write out those monthly or quarterly checks like clockwork. As a result of this mentality, many (and some say "most") consumers are paying more for their car insurance than they need to.
One of the most important coverages you can have with your car insurance policy is bodily injury liability. This type of coverage will pay for injuries to yourself or another person as a result of an accident. The fact that you consider yourself a very safe driver has almost no bearing on this aspect of it. Even if you are not at fault in an accident, many states have no fault policies in place, where an accident is nobody's fault, and either party can be sued. And if an accident IS your fault, well, that is why they call it an "accident". You did not cause it purposely, it was an accident, but you caused it nonetheless.
You also have comprehensive coverage, which pays for other things like fire or theft. If your car is not paid off, you will also want to have collision coverage, and in fact your car loan lender may require this coverage until your car is paid off. There are various other types of coverages you can elect to get with your car insurance policy, such as rental car reimbursement if your car is in the shop for an extended period of time, or towing coverage.
Then you have a deductible amount on each of those coverages. The lower your deductible amount, the higher your car insurance policy premiums will be, simply because chances are better that that insurance company will need to pay money out. For example, the premium different between having a $500 deductible and a $100 deductible on collision coverage could be as much as two or three times different.
You should periodically shop around for your best rates on a car insurance policy. Rates and coverages change all the time, and just because the insurance company you signed up with 10 years ago had a good deal at that time does not mean that they are still your most cost effective option.
Do not ignore or dismiss online car insurance quotes. Many times an online source will provide very aggressive car insurance policy quotes.
It costs you nothing to get quotes from various companies, both online and offline, to see where you can get the best bang for your buck. Take time to invest the effort to compare policies and you may find that you could save a bundle by switching.
For more insights and further information on your Car Insurance Policy and to get a free online no-obligation quote on car insurance, please visit our web site at http://www.tips-for-car-insurance.com
While it may seem counter-productive to some to pay for a car insurance policy that only springs into action when something bad happens, that insurance policy is also buying you peace of mind and protection. In an accident, the aspects of personal liability, personal damage, and property damage can quickly add up to a healthy six figure number, and sometimes even more.
But it is interesting to note that while most people understand that they need to have a car insurance policy, very few people understand how car insurance works. Instead of obtaining the information they need, they continue to write out those monthly or quarterly checks like clockwork. As a result of this mentality, many (and some say "most") consumers are paying more for their car insurance than they need to.
One of the most important coverages you can have with your car insurance policy is bodily injury liability. This type of coverage will pay for injuries to yourself or another person as a result of an accident. The fact that you consider yourself a very safe driver has almost no bearing on this aspect of it. Even if you are not at fault in an accident, many states have no fault policies in place, where an accident is nobody's fault, and either party can be sued. And if an accident IS your fault, well, that is why they call it an "accident". You did not cause it purposely, it was an accident, but you caused it nonetheless.
You also have comprehensive coverage, which pays for other things like fire or theft. If your car is not paid off, you will also want to have collision coverage, and in fact your car loan lender may require this coverage until your car is paid off. There are various other types of coverages you can elect to get with your car insurance policy, such as rental car reimbursement if your car is in the shop for an extended period of time, or towing coverage.
Then you have a deductible amount on each of those coverages. The lower your deductible amount, the higher your car insurance policy premiums will be, simply because chances are better that that insurance company will need to pay money out. For example, the premium different between having a $500 deductible and a $100 deductible on collision coverage could be as much as two or three times different.
You should periodically shop around for your best rates on a car insurance policy. Rates and coverages change all the time, and just because the insurance company you signed up with 10 years ago had a good deal at that time does not mean that they are still your most cost effective option.
Do not ignore or dismiss online car insurance quotes. Many times an online source will provide very aggressive car insurance policy quotes.
It costs you nothing to get quotes from various companies, both online and offline, to see where you can get the best bang for your buck. Take time to invest the effort to compare policies and you may find that you could save a bundle by switching.
For more insights and further information on your Car Insurance Policy and to get a free online no-obligation quote on car insurance, please visit our web site at http://www.tips-for-car-insurance.com
Related Tags: auto insurance, car insurance policy, car insurance quote
Your Article Search Directory : Find in Articles
Recent articles in this category:
- Ideas For Finding a Nanny Job
Looking after the welfare of children is a very important job. The role of caregivers in the present - What There is to Know About a Temp Agency
A temp agency is a place were skilled office workers can go to get work. There are a number of diffe - Discovering the Many Ways a Temp Agency Can Assist in a Down Economy
When out of money and unable to find work, often times can look hopeless. However, for many who have - Careers That Require Financial Responsibility
Keeping your finances in order is important for any adult, but if you want to work in certain career - What You Need To Know About Resumes And Cover Letters
If the ways of getting employed is composed of steps, the first task would be to come up with an imp - How To Increase Your Chances Of Getting Hired
In trying to get a job, the person that you are going to impress, aside from your would-be boss, wou - Tips on How to Get Hired in a Flash
Unemployment rate all over the world is undeniably huge. But, the bigger problem that professionals - Tips and Techniques on Finding a Job Quickly
There are three ways on how you can get employed at the soonest possible time- that would be, knowin - Securing Your Lifetime Starts Now
If by the time you're 30 and you still don't know what you want to do with your life, it should alre - Occupational Therapy Jobs For a Career in Nursing
Occupational therapy jobs are undertaken by individuals who are willing to engage their skills in he
Most viewed articles in this category:
- Hollow Eyes Are Not Dark Circles Under The Eyes
Many people of all ages complain of dark circles under their eyes. The phrase "dark circles under th - Career As A Hairstylist
Hairdressing is an art that involves arranging hair for aesthetic purposes, participation in formal - Life After West Point Military School
West Point exists to educate and train Cadets who are commissioned as Officers in the US Army upon G - Work Experience In Fashion - How To Get A Great Opportunity In Fashion Work
Work experience in fashion can be one of the most challenging positions to find. It's a simple equa - Tips for Job Hunting in Today's Market
In order to be competitive in today's job market, you must stand apart from the competition. Just h - Who are the EMTs
You'll find them at Denny's. At least I always do. Denny's, Coco's, Perkin's; any all-night restaura - Hiring A New Assistant?
More and more small businesses and even larger companies are turning to virtual office assista - You Too Can Start an Independent Record Label
It's no big secret, the trick of how to start a record label definitely involves some cash and most - Increased Salary with a Medical Degree: Consider the Options
Physicians are probably one of the highest paid professionals in the world. They make a lot of money - 5 Steps to Becoming a Virtual Assistant
Here are 5 steps that I went through in becoming a virtual assistant. These aren’t official by