What Auto Insurance Coverage Do Drivers Really Need
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Drivers who have moved to a new state or who have recently purchased a new vehicle are probably looking for an auto insurance policy. Each driver has different coverage needs, budgets and options. To understand the coverage they need, drivers need to analyze their current situation, weigh their options, and then make an informed decision.
Before getting an insurance quote, drivers should take the following steps:
List the coverage they have, want and need. Knowing what is already insured will help the driver in the process of obtaining new insurance. Without going through this step, drivers might be tempted to choose the cheapest offer, potentially wasting a lot of money.
- Learn about the coverage limits. When purchasing liability coverage, drivers may see them listed as 100/300/50. This is one of the most common auto insurance policy structures and is also the limit that most insurers currently recommend for liability coverage. The first two digits represent bodily injury liability coverage and the third represents property damage liability coverage. This means that the insurance policy of a driver involved in a responsible accident will pay up to
$ 100,000in injuries per person, $ 300,000accidental injuries, and $ 50,000in material damage by accident.
- Consider removing coverage for older vehicles. Drivers of newer vehicles should not have more coverage on their older vehicles. Older vehicles are more likely to break down, have fewer safety features, cost more to repair, and are easier to steal. They’re also less valuable, and in many cases, keeping collision coverage doesn’t make sense. However, to protect their vehicles from theft, some owners purchase comprehensive coverage.
- Consider adding family members to the policy. Anyone living under the same roof as the policyholder is eligible for the family plan. When covering an entire family under one policy, the policyholder is eligible for multiple discounts. In addition, if there is more than one vehicle in the household, the policyholder can get a discount for insuring multiple cars. In addition, the auto insurance policy can be combined with other policies such as home insurance, health insurance, boat insurance, etc.
- Consider the deductible limits. The deductible is the amount that policyholders must pay before insurance takes effect. When purchasing an insurance policy, drivers should determine how much they can pay for the deductible. To minimize auto insurance costs, drivers can choose the highest deductible. The premiums decrease as the deductible increases.
For more information, money saving tips and free auto insurance quotes, visit https://compare-autoinsurance.org/
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