Everyone knows that you can’t drive without car insurance. You see commercials on TV and hear about it on the radio. You have to have car insurance and there’s no way around it. It’s important to find a premium, or total amount you pay, that you can afford and keeps you covered. So when the time comes for you to buy car insurance, here’s some things that you need to know.
There are four major things that go into buying car insurance. Those four are: your state’s minimum liability requirements, types of additional coverage, deductibles, how to to shop around. Don’t worry, we’ll cover all four.
First off is liability and what your state requires. Every state has a certain amount that is the minimum amount required. If you talk to an insurance agent in your state, they can give you those numbers. Sometimes, it’s a good idea to purchase more than the state minimum incase of an accident, but for the first 6 months to one year, you can work with the state minimum.
Liability is made up of two things, property damage and bodily injury. Property damage covers the damage caused to another person’s property during a car accident, whether it’s their car, mailbox, etc. Property damage will cover anything that isn’t yours that gets damaged. Bodily injury covers an injuries that another person suffers during a car accident. Liability is basically an insurance that you pay if you hurt someone or something of someone’s in a car accident.
Second, there is an important additional coverage called Comprehensive and Collison, which is optional unless you have financed your vehicle. If you have a newer car that isn’t a clunker, it’s also a very good idea to get comprehensive and collision. Comprehensive insurance will cover any damage to your car that isn’t your fault. This means theft and vandalism, any kind of natural disaster, and any kind of weather conditions, including hail. Collision insurance covers any damage to your car in the event of an accident. Both of these insurances are very important to have if your car is newer or nicer. They’re one of those things that isn’t fun to pay for, but in the event of an accident it’s worth the cost.
Next is your deductible. This is an amount that you agree to pay out-of-pocket if you get into a car accident. The lowest deductible you can choose to pay is $250, but if you choose a higher deductible, it will make the total amount you pay drop.
Finally, when it comes time to start shopping around, you can get free quotes online, call an agent or company, or go in and speak with them face-to-face. A lot of times if you call or speak with an agent, they can explain things to you and break them down. It is important to know exactly what your paying for. If you don’t understand something, be sure to ask them to explain it that way you know exactly what’s covered.
Some important things to keep in mind:
- When you’re 21, your premium will go down a little bit.
- When you’re 25, your premium will go down a lot.
- Keep your driving record clean. Avoid getting any kinds of tickets and be sure to avoid accidents, especially if you could be put at fault.
- You will have to pay every month. If you’re payment is due on the 31st and you wait to pay until the 1st, you don’t have insurance on the 1st. Pay it as soon as you get it to protect your coverage.
- Never go more than 30 days without car insurance. It simply looks bad to an insurance agency and can cause you to pay more.
- There are a lot of things that car insurance companies can make you pay for simply because they can. Take your time when shopping around and really look into it. Car insurance is already expensive enough. There’s no need to pay more because you were lazy.
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What do you think?
Have you ever had to buy car insurance? If so, what were some things you did to make it easier? Thinking of buying car insurance and need some help? Put your comments in the box below!
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