- September 2013
- Posted By JohnnyG
- 0 Comments
Many people are looking for great car insurance rate quotes these days, mainly because they want the best insurance at the lowest cost. It is important that you have the right amount of coverage, but you shouldn’t have to pay outrageous premiums. There are many different tips to help you, but first it is important to know why you need insurance in the first place. Many people are out on the road today, some have insurance, others don’t.
Even if you are the best driver in the world, you need to have insurance. Vehicle insurance can cover a wide variety of things. It covers an accident, whether it’s your fault or not. It covers vehicle damage, personal injury for you, your passengers, and even the people in the other vehicle. Depending on your coverage, it can replace your vehicle if it was totalled, or repair it. How much your insurance will cover repairs really depends on your deductible, which we will talk about later. You can even get insurance to cover you if the other person doesn’t have insurance.
If you are driving without insurance, you could be in big trouble. If a police officer pulls you over for any reason and finds out you don’t have insurance, you could be fined, go to jail, have your car impounded, or even all of these together. If you are involved in an accident, even if it’s not your fault, you could be found at fault, simply because you weren’t even supposed to be on the road in the first place. Even basic coverage is better than no coverage. If you are leasing a vehicle, or buy on a loan, you are required to get insurance within a short period of time or you will lose your vehicle.
While you need insurance, finding good car insurance rate quotes can be a little overwhelming. There are so many different companies offering insurance, telling you that you can save hundreds of dollars over other companies, and that they have better benefits. No matter what company you choose, here are some tips and information to help you get the best insurance coverage for the money you spend.
The first thing you have to think about is what kind of coverage you need. Each state requires different levels of coverage. If you are paying for a vehicle, a loan company or bank is going to require that you have full coverage, to cover their losses if you have an accident. There are really two types of insurance coverage, and then other added on coverage you may or may not need.
The first is bodily injury. This covers you, your passengers, and the people in the other vehicle if there are injuries. How much coverage depends on a number of factors. How many people drive with you, and how much injury there is are just a couple of things to consider. The next type is property damage. This covers your vehicle, the other person’s vehicle, and any other property that may be involved, like if you hit a light post, or drive into someone’s house, etc. Again, the amount of coverage you need depends on how much you drive, and how expensive your vehicle is. Then there is the deductible. This is the difference between what you cover, and what the insurance covers. Having a higher deductible means you will have larger out of pocket expenses before the insurance kicks in. Premiums are going to be less if you have a higher deductible, but if you do a lot of driving, you might want to pay more in premiums to have lower out of pocket expenses.
This just the basics of car insurance. You also have accident forgiveness, new car replacement, vanishing deductibles, and many others. This is why you really have to shop around for car insurance rate quotes, at least every few years, even if you are satisfied with the company you already have.