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Five questions you should ask about your auto insurance.
In this section we take a look at the five questions you should ask about your auto insurance. So many people get so focused on the price that they have no idea if they a covered for an accident. Unfortunately a lot of insurance agents skimp on coverage’s to get the rate down. So I am going to arm you with some question to make sure you get the best coverage at the lowest rate.
1. What are my liability limits? This should be your most important question. Now let me give you the rough break down of liability limits and how they work. If you would like a more detailed explanation see the article “How does my auto insurance work”. Liability limits are the amount of money the insurance company will pay out on your behalf for injuries, and property damage to others. When you ask what are my limits the agent will say something like 25/50/25. What that means is 25,000 for and personal injury to others, 50,000 total for all personal injuries, and 25,000 for property damage to others.
The example above is using the state minimum limits. Now if you are at fault in an accident and injury someone else, 25,000 will not go very for in hospital bills. Now if you were to injure multiple people the 50,000, which is the total payout for all parties personal injuries, will come up well short. You are then responsible for the remaining amount. So you see how low limits can financially destroy you.
The 25,000 for property damage is not as strong of a factor in choosing limits, but if you hit a 40,000 car you are responsible for the difference. So request that the agent give you quotes on the following.
50/100/50
100/300/100
250/500/100
Quotes on these limits will help you make a wise choice and protect your financial future.
2. Do I have towing and rental car? This is pretty obvious and needs little explanation. Not all companies automatically include these options so make sure they are in there in case you ever need them. Find out if anything extra is covered just by having the coverage. So companies offer free locksmith service or will bring you gas if you run out minus the cost of gas. Also is there a limit on how far they will tow your car, or on the amount of money the will pay per day for a rental car.
3. Are other drivers covered? Every company has different guide lines on who is covered to drive your car. Some companies will only covered listed drivers on the policy, while others will cover any one you give permission to. The companies that only cover listed drivers use this as a way not to have to payout on claims. If you run across this stay away, who knows what else is not covered if you’re in an accident.
4. What discounts are available? All companies have a wide range of discounts that range from insuring your home, multiple autos, safe driving record for so many years, having a hybrid, having life insurance, or paying the balance in full. You may be able to save big, because agents get busy and forget to mention everything available. Take the time to ask and you could save some money.
5. Do you have a local claims adjuster? The major companies will have local claims adjusters which will save you a lot of time and head ache. If the adjuster is not local you may not see him until next week, which only slows the claim down and you may not get your car fixed for weeks. This is a big driving reason for many people to shop around for a company that has excellent claim service.
Use these questions to get the best coverage at the lowest rate. By asking these questions every agent has to quote you the same coverage’s, which allows you to compare apples to apples.
If you enjoyed this article visit our website to read more articles and to get a quote from 3-5 local insurance agents emailed to you. Let’s see if we can help you save some money.
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