Having car insurance is highly important when you drive a vehicle. Without car insurance, you can run into major financial problems. For example, if you were in an accident that you were at fault for and you have no insurance, then you will be responsible to pay for the opposite party's damages and injuries out of your own pocket. On top of that, you will have to pay for your own, as well. Driving without insurance is also illegal and can result in the confiscation of your driver's license and a hefty fee. Since purchasing auto insurance is so important, here are four tips to make it easier and more affordable:
- Raise the Deductible: Choosing a high deductible is going to keep your premium payments on auto insurance lower. However, you should only increase the deductible as high as you can afford. If you are in an accident and your deductible is $1,000 dollars, for example, you want to be sure that you are going to be able to afford that. If not, then you should have a lower deductible, but don't be afraid to raise the deductible as high as you can.
- Ask About Discounts: There are many discounts that insurance companies provide that you may not be aware of. Be sure to ask what discounts they offer because, most of the time, these discounts will not be applied unless you specifically ask for them to be. Discounts can include taking a driver's safety course, so be sure to take action and sign up for these courses in order to save even more.
- Don't Choose Limited Tort Insurance: Insurance companies may offer you limited tort insurance as a way to save on your monthly premiums, however, limited tort can actually end up costing you more out of pocket. This is because if you are in an accident in which you have suffered injuries, even if the other person was at fault for the accident, your insurance won't cover for your pain and suffering expenses. If you have to miss work or you have to hire help around the house because you are too injured, the expenses for this will have to come from your own pocket.
- Drop Collision and Comprehensive: If you have an older vehicle, having collision and comprehensive coverage is unnecessary in most cases. This is because, in the case of an accident, the repairs for your car could total up to more than what the car is worth.
When you utilize these four tips for purchasing car insurance, you can be sure that you have insurance that is affordable and also covering enough to not put you in financial stress in the future. For more information, contact House-Chilson & Associates or a similar company.