Car insurance can be complex, especially if you’re shopping around for the best deal and trying to figure out what coverages you need and which ones you don’t. But it doesn’t have to be—whether you’re a new driver or you’ve been driving for years, these tips will help you find great car insurance so that your car and your financial future are safe.
Tips to find great insurance for your car:
The price you pay
When you buy a car, what are you paying for? This is an important question when it comes time to purchase car insurance. The simple answer is: protection from financial loss due to accidents and theft. But those who’ve shopped around for coverage know that’s not always true—prices vary widely depending on your provider.
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The types of car insurance
There are several types of car insurance coverage. No matter which type you choose, all states require that drivers carry liability insurance, which covers people injured in an accident caused by a driver. Collision insurance will pay for damage done to your car in an accident, but is often not included with a standard policy; it’s available at extra cost if you have comprehensive coverage. If you don’t have collision coverage, your own auto insurance company may charge you higher premiums after an accident.
Comprehensive insurance covers theft or other damages to your vehicle not related to an accident. Uninsured/underinsured motorist coverage protects you from harm caused by another driver who has no or insufficient insurance. Medical payments coverage helps cover medical expenses for passengers in your car (or pedestrians) injured in an accident. Other kinds of optional coverages include rental reimbursement, trip interruption, and emergency road service.
What covers what?
Your auto insurance policy is a complicated document. So here’s a quick breakdown of what your policy may cover, what you might want additional coverage for, and how much it’ll cost you. Also, find out if your car insurance covers rental cars in case you get into an accident or have a fender bender. But don’t forget that not every state requires car insurance, so be sure to research what applies in your state. If you decide to skip car insurance altogether, know that some states can penalize drivers who do without it—for example, by increasing their rates once they do buy coverage.
If you’re looking for car insurance, it pays to shop around. Rates change by company and by location, so you’ll want to get a bunch of quotes from different companies before settling on a particular one. (Most online quote engines let you do just that.) Look at both what they charge in premiums as well as their deductible—or how much out-of-pocket expenses you have in case something goes wrong—and factor those costs into your decision.
There’s a plenty of reasons why you need car insurance, from protection against theft or injury to liability concerns. Find out how much Car Insurance Online will cost, what coverages are available, and how you can save on your policy. We’ll also take a look at ride-sharing services such as Uber—what impact have they had on traditional car insurance? And in today’s tech-driven world, what other options are there? Is insurance even necessary anymore?