Hello, my name is Cliff Bolton. Welcome to my site about vehicle insurance. I wanted to learn all I could about insurance before I started driving to go into the decision-making process with ease. Once I started exploring the insurance industry, however, I could not stop reading. I learned all I needed to know to obtain car insurance and much, much more. I created this site to share this knowledge with my readers. I hope to help others tackle this important decision without worry. Please feel free to drop by daily to learn new information about this important topic. Thank you for visiting my site.
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There are thousands of car insurance companies in the U.S., making the entire process of buying an auto insurance policy complicated and confusing. You may be tempted to go with what your buddies are using or the company offering the cheapest rates, but that may not be the best way to approach the process.
You see, different insurance companies have different rates, coverage plans, and methods of calculating premiums. Asking the right questions is important to ensure you're getting the right coverage for your unique situation. Here are four important questions to ask before buying car insurance.
What Type of Insurance Coverage Do You Need?
For starters, you'll have to purchase the minimum amount of insurance required by your state. In most states, that minimum requirement is liability insurance. It will cover the costs for any injuries, death, property damage, or legal fees incurred because of an accident you have caused.
There are other types of coverages to consider as well. These include collision, comprehensive, uninsured and underinsured motorist protection, and personal insurance protection. Your auto insurance agent will explain to you what each of them entails and how they benefit you in case of an accident.
What's Your Risk Assessment?
Your car insurance rates will largely depend on the level of risk you pose to the insurance company—that is, how likely you're to be making a claim. If you're a high-risk driver, chances are you'll be making multiple claims, and so your insurance rates will be high.
Insurance companies generally consider various factors in your risk assessment. These include your age, sex, criminal record, driving record, where you live, and your credit rating. For example, if your area has rampant car thefts cases, expect to pay more than someone in a safe neighborhood, assuming all other factors remain constant.
Who Is Covered in Your Auto Insurance Policy?
Generally, your policy will cover you if an accident happens while you're driving your own car, but what happens if your teenage daughter, who's just recently learned to drive, causes an accident? Will your insurance cover her? What if your best friend borrows your vehicle and hits a pedestrian?
Different insurers handle these issues differently, depending on the laws in your state, but seek clarifications for every possible situation to avoid disappointments at the last minute. While at it, ask your insurer whether you'd be covered if you got into an accident while using another person's vehicle or a rented car.
Do You Qualify for Any Discounts?
Car insurance discounts can help reduce your premiums. Most insurance companies offer discounts if you have purchased several policies with them, like auto and home, or auto and renters.
Depending on the company you're using, you may also get a discount for having a safe driving record, investing in vehicle safety equipment, owning an eco-friendly hybrid vehicle, and being a good student. Review the entire list of discounts to see where you might save some bucks on your automobile insurance.
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