Bare Minimum to Full Coverage: Picking a Plan and Ensuring Your Provider Honors It
With all 50 states now requiring that drivers have some sort of insurance coverage for their cars, you may be facing the prospect of buying your first policy or switching from one provider to another. Buying insurance should be a task that is approached with care and a great deal of consideration. As you shop around for the best policy, you might feel overwhelmed by the prices and benefits that each company offers its clients. Before you invest in a policy, however, you would do well to keep these tips in mind in order to protect your budget and your individual driving needs.
Choosing the Right Amount of Coverage
Your first concern as you are buying insurance may be to address whether or not you need liability only protection or a full coverage policy. Liability only could be a good investment if you drive an older vehicle that would be worth more as scrap metal if it were wrecked than the cost of restoring it to driving condition. However, if your car is brand new or if you have a lien on your title, you may want to buy full coverage protection. Most states require that you have this coverage if you have a loan on your car, in fact.
Verifying Claims Acceptance Statistics
For all their glossy magazine ads and consumer-friendly commercials, many insurance companies hide the ugly fact that they could easily turn down your claim if you were to wreck your car or become the victim of vehicle theft or vandalism. Indeed, statistics1 show that more than 10% of all auto insurance claims are denied by insurers, leaving it wide open that you could be turned down and have to take legal action just to be compensated.
"Don't make the mistake of trying to deal with the insurance company yourself", says one known auto accident attorney firm. The fact that you would need to hire an attorney for litigation because of your own insurance companies reluctancy to help is pretty sad. Before you buy a policy, you would fare well to check out a company's claim acceptance statistics and ask questions about why clients are turned down in their hour of need. Being proactive before you pay for a policy can protect you in the long run.
Paying the Right Price
Depending on your past driving record, you may need to locate a company that can offer you a policy for a reasonable price. Some insurers offer low rates to drivers who have good records with few wrecks or tickets to their names- legal protection in this arena can help as well. An attorney can defend you in court against bogus citations and aid you in obtaining expungements. Even if you do have a few traffic infractions, however, you can still shop around to find coverage that suits your budget. You could even price match plans if you want to make sure you are paying the lowest price possible.
Taking Full Advantage of your Coverage
Along with protecting you on the road, a good insurance company may be able to offer you additional benefits that let you save money. Some businesses offer services like roadside assistance, travel discounts, and savings on movie tickets, flower arrangements, and even prescriptions. If you want to enjoy miscellaneous consumer perks, you might ask about what other offers a company can give you in addition to your auto policy. Having access to these benefits could let you save money when you go on a trip, shop at your favorite retail store, or buy certain luxury items.
Choosing the right insurance coverage and then making sure your insurer puts your best interest first at all times can be a complex task. Think about your budget and your needs as an auto owner and educate yourself on the policies and contractual agreement of the company you choose. Don't be afraid to consult an attorney in the event of a claim or other issue with your insurer. The strategies listed above can help you decide on the best auto insurer and coverage plan and help you make sure you are receiving the best protection and services available for your money.
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