Insurance is essential for many reasons. But when it comes to a personal transport vehicle like your automobile, we may not have the choice since many states are now requiring mandatory insurance if you drive.
Here are the questions to ask when buying car insurance.
When it comes to auto you have choice to cover four essential types of liabilities or risks to you.
While shopping is a very good habit when pricing products and services, I have a different philosophy when it comes to shopping for essential services, and car or vehicle insurance is one of those. You should be more concerned with quality of the carrier, credit worthiness and its history of settling claims. Because the few dollars you save by going to what could be an inferior insurer are not worth the emotional and financial struggle if something happens, you have to place a claim and then find out that the insurer is not a reasonable, seasoned and honest insurer.
Most, if not all states have an insurance commissioner who regulates the insurance companies. Plus there are public disclosures such as rate of claim, Better Business Bureau ratings and financial statement of the insurer.
Be aware that some states have a mandatory insurance policy. You must abide by it, or have the law after you.
So let us examine the key elements of car insurance.
How much?
– Depends upon your personal choice, but there are two things to consider–at certain minimum levels you get a break in price and if you drive to and from work, or have kids, you may opt for a lower deductible and a higher coverage, at least higher coverage.
Who else to insure?
– Make sure you cover frequent drivers of your car. It could be a relative, or a friend. Insurance carriers will allow you to add others, but some carriers will make a fuss putting someone who is not a relative and not living with you.
In the end, while car insurance is a personal choice, newer laws have taken away some of your options as a consumer, so make sure you understand the laws of your domicile state.
Key Takeaways Understand the importance of document shredding for data protection. Explore cost-effective and compliant…
Key Takeaways Basement waterproofing involves multiple strategies for long-term success. Proper drainage and sealing are…
Table of Contents Understanding the Basics of Food Display Latest Trends in Food Display Solutions…
Key Takeaways Technology is rapidly transforming the healthcare industry. Benefits include improved patient outcomes, increased…
Key Takeaways Understand the importance of efficient log book management for truck drivers. Explore the…
2025 is shaping up to be a monumental year for the cryptocurrency market. With Bitcoin…