Naturally, you want to make sure you are covered and at the best price possible. Understanding what you are getting is important and with a little research, it can be easy.
So, where to start?
Before you start comparing auto insurance quotes and companies, take a little time to figure out what you need.
After that, you’re ready to start getting ballpark estimates. It’s quick and will help you quickly understand what rates you can expect to pay, along with what features and coverages are available.
Next is what coverages should you consider. Every auto insurance policy has several different coverages that protect you, your passengers, other drivers and your vehicle. Some coverages are required and some are optional. Here’s a short list of common auto insurance coverages, along with what they typically cover:
- Bodily injury liability— Costs that you’re legally responsible for, resulting from bodily injury or death to another person.
- Property damage liability coverage— Damage to another person’s vehicle or property that you’re legally responsible to pay for.
- Medical payments and personal injury— All reasonable medical expenses resulting from a bodily injury, sickness, disease or death of your passengers or a driver on your policy, as the result of an accident.
- Underinsured/uninsured motorist coverage— Costs resulting from bodily injury caused by another driver who doesn’t have enough insurance (or any at all).
- Collision coverage–Damage to your vehicle caused by a collision with another object or from the vehicle rolling over.
- Comprehensive coverage— Damage to your vehicle from anything other than a collision. Things like a windstorm, fire, theft, hail, flood or vandalism.
The insurance coverage you choose depends on your situation. Even though you’re just starting out, getting the bare minimum might not be right for you. Take a look at what each one covers, and decide whether or not that protection is something you need. Sometimes, adding an optional coverage only amounts to a few extra dollars a month.
Finally, you need to decide how much coverage you need. Once you know what you’re interested in, the next step is to choose how much insurance protection you want. Typically, you’ll be choosing a limit or a deductible.
If you have any questions or need more information, call or visit a local insurance agent.