Everybody hates paying for insurance! You pay money out of your pocket for a policy that you hope to never use, and it seems like a complete waste of money…until it isn’t. Outside of most local government agencies requiring car insurance in order to drive a vehicle, it’s probably best that you have a solid policy that protects you and your family. Because of the legalities involved it usually isn’t difficult convincing the average person why they need insurance, however, it’s the depth of the coverage that is usually lacking. Allow me to explain common shortfalls and misconceptions when it comes to having adequate auto insurance.
Surprisingly, most people don’t have rental coverage. They often think that their car dealership from where they purchased the vehicle will simply provide them a free loaner, but that can’t be further from the truth. Insurance companies aren’t lining up to offer you free loaners either. Spending a couple extra bucks a year, literally, will ensure that you have unlimited rental coverage in the event that your car is laid up in the shop for an extended period of time. Truth be told, this might be the most overlooked aspect of coverage out there.
It is true that insurance is often more expensive than it needs to be, but there are numerous auto insurance discounts available to people everywhere. Not only do I highly encourage using an insurance comparison site to lower your premiums, but you need to seek out every discount available to you. Most cars have an airbag these days, but not all have passenger and rear airbags. Additional safety features can ALWAYS provide you with some nice discounts. Having an anti-theft device is a no-brainer, and probably the biggest discount available to you. Then there are states that unfairly charge premiums based on credit score and college education, but if you are on the favorable side of those aspects they can provide you with a much lower premium.
Most people think they don’t need the additional health coverage provided by an auto insurance policy. Regardless if you have good medical insurance through your employer there are always caps and limitations that you may not be aware of. For a few extra dollars this added insurance can provide you with peace of mind, and a huge safety net. Often times your personal coverage only applies to your medical bills, however, these policies can apply to others if you are found to be at fault.
Having insurance can protect you and your assets as well. Car accidents are common at-fault lawsuits that we see in courts every day. Insurance companies not only provide an umbrella of coverage, but they have a team of lawyers and mediators helping to settle the whole suit out of court in an expeditious manner.