Insurance
When it comes to getting insurance some of us just see what will cost the least and meets state minimum requirements. But if and when you do get into an accident, the low cost policy you chose may not benefit you. We’ve seen the commercials and maybe we are the ones that got caught up in how much an insurance company can save us. But do they really save us if we have the misfortune of getting into an accident?
The last place you need to be wondering and worrying what kind of coverage you have is at the scene of the crime. You just rammed into someone’s car, hit a pole, or hydroplaned into a ditch and you’re wondering “Does my auto insurance cover this?…Do I have rental coverage?” No, but really, do you know? Of course there are more extreme situations and maybe that isn’t even the next to first thought that crosses someone’s mind, but you get the picture. The thought does eventually come.
There are a lot of factors that play a role in what kind of premium you’ll pay. Whether it is your age, how old and what type of vehicle you drive, where you live, how many cars will be under a policy, etc. etc. Knowing the different terms that are used like collision, deductible and liability can help you when deciding what kind of coverage you want and what fits your needs best. Here’s a glossary (ßclick that) for more auto insurance terms.
The higher your deductible (the more financial risk you’re willing to take on), the lower your monthly premiums will be. But be prepared to pay that deductible if you do get into an accident (IF YOU’RE AT FAULT). The lower your deductible the higher your monthly premiums will be. Some insurance companies give discounts if you can pay for 6 or 12 months in one lump. In the long run this can save you some money.
Maybe this will make you stop to check out what kind of coverage you have. GOOD, you need to. Shop around and ask questions if you need to, making sure you are protecting you and your family with the right policy.
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