Your used car needs insurance, but it doesn't need to cost a prohibitively high amount. You need to be aware of the required minimums in your state or locality. You need to consider your deductible levels as well as the age of your car.
Each state or locality will have legally required liability coverage minimums for bodily injury. If your state has 25/50/25 limits, this means you would be required to maintain at least $25,000 per person and $50,000 per incident for bodily injury and also $25,000 per incident for injury to property. You should consider getting more than the required minimum coverage in some cases, especially if you do a lot of driving, if you have a bad driving record or if there are a lot of accidents in your area.
You also need to consider your deductible levels for both comprehensive as well as for collision coverage. Collision coverage is, as it implies, for collisions with another vehicle. Comprehensive coverage is for vehicle damage due to reasons other than collisions with another vehicle. Try to get as high a deductible as your savings can support, because a higher deductible will lower your premium on inexpensive auto insurance.
If you have a very old car then you need to look at the resale value of your car and compare that to what you would pay for full coverage. You may be better off just maintaining liability coverage on your older car, rather than paying more in premiums than the car is worth. After all, you will likely need to spend money to keep the old car running.
Shopping for lower premiums is important and easy! Visit http://www.autoinsurancetrends.info/auto_insuance.php for more valuable tips that can get you cheap car insurance quotes right now! |
No comments:
Post a Comment