Car Insurance Success

Monday, July 29, 2019

Save Money On Your Car Insurance Everywhere

In the United States it is mandatory to have some sort of insurance on the vehicle you drive. Whether it’s on two wheels or four, when you are on the road, you need to have back up in case you cause an accident. At the very minimum you should be able to pay for the other persons expenses if you are at fault. And that makes sense right? We all have to be responsible and take accountability for our mistakes.

But it is harder and harder to understand what insurance exactly is and how it can work for us. It seems to most that car insurance, along with other types of insurance, is a big mystery. One that only brokers and agents understand. But I am here to tell you that you can be a pro at understanding insurance in no time. You just need to do a little research and figure out the laws and conditions of your state. That way, no matter where you are or where you live, you can have the best cheap car insurance you deserve.

The best way to look at car insurance is through the eyes of another driver. If you hit someone out on the road, they shouldn’t have to pay for the damages. But most likely you won’t have thousands of dollars in cash laying around. States and insurance companies understand this. And that is why having a minimum amount of car insurance is a law. There is the why of insurance such as “why do I need car insurance?”. For starters, insurance is a law because unless everyone carries it, the idea of protection doesn’t work. There are still about 20% of drivers who aren’t properly insured or insured at all. But this is risky. There is a lot at stake if you choose to not carry cheap car insurance.

Why Carry Insurance?

For example, if you choose to not carry car insurance or are not properly insured, and you hit someone, you could have your license revoked. This might set you back in life. With no license and no car, you won’t be able to get to work or school or live your life to it’s fullest. Not only that, but there are hefty fees applied to those who break this law. You will also need to pay for the other persons damages out of pocket.

If you fail to do this, you could even see jail time. This information isn’t here to scare you, but inform you about how important car insurance is. For most people this is a no-brainer. But some wonder why they might need insurance on their junker of a car. Or a car they might only drive every once in a while. No matter how often you drive or what kind of vehicle you have, insurance is a must.

Everyone Needs Insurance

Why we carry insurance in the United States is for the greater good. If everyone chose to carry the proper insurance, no one would have to pay out of pocket for accidents. In more congested areas of the U.S. where people sit in traffic for long periods of time, insurance seems more and more relevant. If you live in a remote area where your risk is low, you might be wondering why bother at all? Because you never know. The best cheap insurance is often the one that fits your personal needs.

And if you don’t want to get stuck paying for high auto repair bills, you will want to carry some kind of insurance. There are laws on how much insurance you will need depending on if you have a loan out on your vehicle or not. People who pay off their cars and don’t owe anything to the bank have the luxury of obtaining less insurance. This is because the bank no longer needs collateral on your car. It is paid in full.

How Much Money Will A Great Policy Cost?

Your personal cheap car insurance policy will most likely be different from everyone else because policies are individual. The insurance companies decide what to charge you based on a multitude of factors.

Here are some questions the insurance agencies might ask:

  • What is your age and the age of your drivers? Did you know that the younger the driver the more the policy?
  • Teenagers are four times more likely to get into an auto accident. Because of this, insurance policies for younger people can be much more.
  • There are insurance policies for risky drivers as well. You may pay more for your insurance policy if you are a “high-risk” driver.
  • Having multiple tickets, or a DUI, you may be unable to attain the lowest insurance policy. However, Cheap Insurance can make sure you are still covered with the insurance that is required.
  • Do you have a salvage title on your car? Insurance policies may be more because of this and some companies will not insure you. We can find those companies that will.

Questions:

  • Are you a low-income or high-risk driver?
  • Where do you live? Do you live in a gated community? The safer the zip code the less your policy will cost.
  • Are you married and do you have kids? People who are married and have kids are more likely to be safe drivers.
  • How old is your car and how big is the engine? Cars with larger engine go faster and speed leads to accidents. The smaller the engine the smaller your bill.
  • How many miles per year will you be driving? The more you are on the road, the more at risk you are for getting into an accident statistically. You can be a very safe driver and still get into an accident.
  • Who else will be driving your vehicle? You will want to make sure that all drivers are insured under your policy.

Car Insurance Break Down

If you want to know everything about insurance and how it can work for you, just keep reading. Getting the cheap insurance you deserve means first understanding what the vocabulary means. When you are reading through a policy, you will want to understand how your insurance is working for you.

Here are a list of words you need to know when shopping for insurance in any state:

  • Auto liability insurance is required in every state to some capacity, but most states only require a minimum liability.
  • Basic liability for autos provides no coverage for your vehicle if you are at fault, or if your vehicle is stolen. If you are financing a car, most banks or lending institutions will require comprehensive and collision coverage (usually not to exceed a $1,000 deductible) Rates can vary depending on frequency of use, length of commute, territory, etc. Rates can depend on the city you live in and the amount of miles you drive your vehicle.
  • Uninsured Motorist Coverage is always a good idea. The number of uninsured drivers in California for example are estimated to be as high as 23%. Keep this in mind when you are choosing whether or not to purchase the optional Uninsured Motorist Coverage. You must have proof of insurance and your car registration in your car at all times. These must be available in case you are in an accident or are pulled over.

More Coverage Options:

  • Medical coverage for you and your passengers- medical coverage can make a huge difference for your security and safety.
  • Towing and roadside assistance- You may not only need this for a crash, but if you break down. Roadside assistance can save you time and money.
  • Rental reimbursement- You could be covered or reimbursed for a rental car when you are involved in a crash. This might sound frivolous but if you only have one car and are in an accident, you shouldn’t have to take off work just to get your car into the shop. Most cars that are in an accident take at least a few days to get worked on and parts delivered. Be prepared.
  • Full glass coverage- this is additional coverage for your car to cover glass windows and doors. You don’t need this insurance by any means, but if you drive on the freeway for long distances you know how many rocks can hit your windshield.

Get What You Deserve

  • Loan/lease coverage- when you have a loan or a lease out on a vehicle, your coverage needs to be different. Most of the time a full policy is required.
  • A deductible is an agreed upon dollar amount in which you “share the risk” with your insurance company if your vehicle is damaged. When you want your monthly premiums to be low, you usually need to up your deductible amount.
  • Bodily Injury Liability Coverage: Coverage that pays for the injured party if you are at fault in an accident. May also cover legal fee’s, lost time at work and other related expenses to an injured person.
  • Burglary and Theft Coverage: Additional coverage that pays for loss due to criminal theft. This is also known as Comprehensive coverage. It includes minor damages to your car that are not incurred in an accident as well.

Saving Money And Saving Time

The best way to shop for car insurance is trying to get quotes online. If you can get a few online quotes and compare the best prices, usually you are pretty safe. But there are occasions where you will need to talk with a broker. If you have any “out of the box” questions or feel the need for a more personal policy, by all means talk with a professional. A broker is someone who understands the insurance world and they can be very helpful. Unlike an insurance agent, a broker is the middle man between you and the insurance company. That means that they work for you. It is there job to find you the best insurance policy at the cheapest price and keep you happy.

There are a few different ways to save on cheap car insurance. One of them is to simply continue to be a safe driver. Every year that you are a safe driver, your insurance rates should drop. Insurance companies like to reward safe drivers. Another way to save money is by paying for your insurance premium yearly instead of monthly. You can shed off a pretty penny or two by making one lump sum payment instead of 12. Get the best cheap car insurance rates by simply asking.

Here is a list of discounts you could qualify for:

Discounts are a way to save money on any type of insurance. Talk to a broker about how to get these discounts and if your current insurance company offers them. If not, think about switching to a company that does.

  • Discounts for safety courses taken- taking a safety course can help your premiums go down because it proves that you are a safe driver.
  • Marital discounts
  • Good driver discounts- having a driving record which shows safe driving and responsible skills will only help you when shopping for insurance.
  • Multi-car discounts- Not only having multiple cars can help, but the types of cars your family drives could save you.
  • Multi-policy discounts- You may want to consider getting homeowners insurance, motorcycle insurance, car insurance, SR22 insurance and much more from the same insurance company.
  • Association discounts
  • Education discounts
  • Occupation discounts- Depending on what kind of job you have and how far you need to commute for that job could make a difference in your policy choice and price.
  • Excess vehicle discounts
  • Mileage discounts- Keeping low miles on your vehicle should keep your premiums lower.

Your State And Insurance

Every state is a little bit different in what they expect from drivers. Here are a few examples of what some states expect:

Florida:

  • Florida state is a “no-fault” state. This means that an individual’s insurance company covers their losses regardless of fault. Florida requires a minimum of $10,000 for Personal Injury Protection. Florida also requires a minimum of $10,000 Property Damage Liability.

California:

When purchasing insurance in the state of California, you will need the minimum coverage. Here is what that includes:

  • Bodily Injury Liability Limits: $30,000 per occurrence/ $15,000 per person
  • Property Damage Liability Limits: $5,000 per occurrence

New York:

  • $10,000 for property damage, per single accident
  • $25,000 for bodily injury/$50,000 for death of one person, per single accident
  • $50,000 for bodily injury/$100,000 for death of two or more persons, per single accident
  • For more information, here is a link to the New York State Department of Motor Vehicles’ insurance page.

Texas:

  • Bodily Injury coverage requirements are a minimum of $30,000 per person and $60,000 per accident.
  • Property damage liability minimum requirements are $25,000.
  • Uninsured Motorist coverage is not required, but insurance company’s are required to offer it, and explain the coverage to consumers.

Arizona:

  • Bodily Injury Coverage with a minimum of $15,000 per person and $30,000 per accident.
  • Property Damage Liability Coverage at a minimum of $10,000
  • Uninsured Motorist Bodily Injury Coverage of at least $15,000 per person and $30,000 per accident.
  • Underinsured Motorist Bodily Injury Coverage at a minimum of $15,000 per person and $30,000 per accident.

Make sure you first understand the laws of your own state. Then talk with a broker on a strategy to save. Asking about discounts is one huge way you can shed dollars from your bill.

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