Automobile Insurance

Lower your automobile insurance and get a good policy

We all make mistakes , unfortunately they can cost us some money.  When buying automobile insurance, get smart first. 

As with getting life insurance, some of the rules are straightforward: shop around to ensure a fair deal and review your policy annually to make sure that it still fits your life and financial condition. Here are a few other common mistakes policyholders should swerve away from:

1. Do not assume the insurance salesman is your friend.

Remember that the next time you go shopping for automobile insurance. Often it is in the salesman's best interest to sell the "least amount of insurance that they can possibly justify." Smaller policies leave insurers less exposed to risk and proportionately tend to be more expensive. As a result, they're more likely to be profitable for the insurer.
Make sure you have liability coverage, which is usually mandatory in most states and covers the costs of another person's car damage and injury. Comprehensive will protect you if your car is stolen, on fire, or damaged without coming into contact with another car. And collision covers damages if your car collides with another vehicle or object, no matter who's at fault.

2. Do not get a small deductible.

When buying a automobile insurance, consumers think of it as a way to protect themselves against every ding and scratch. That is not a good idea. "You must insure for what you cannot afford to lose," says financial planner Jeffrey Bogue of Bogue Asset Management. That means, don't have a miniscule deductible of $100 or even $250. "If you nickel-and-dime the insurance companies with these small claims, you may get socked with a premium hike or they may say 'we're not going to insure you,' " he says.

Think about these helpful tips when buying auto insurance and as always check out for FREE automobile insurance quotes that just take 7 minutes.

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