Cheap auto insurance from the good guys

Global Courant

There are many other things to consider when buying car insurance other than just the price. You should carefully consider all insurance coverage options, which will play a large part in the cost of your premiums.

It may sound a bit confusing, but getting the cheapest policy can actually cost you serious money. Why you may ask? Getting the state’s minimum coverage can leave you naked, so to speak. In the event that you get into a car accident, the amount of coverage you need to cover the accident could be significantly higher than your policy limits.

Even worse, you could be sued and have your wages garnished. If you hurt another person in an accident you caused and can’t pay all of their medical bills, then you probably will too.

Find the best car insurance for your needs

Let’s stick with the cheapest type of insurance plan, basic liability insurance. If you get the state minimums, you can get monthly rates as low as $30. The problem is, your car could be worth $15,000 or more. If you get into a collision, guess what, your plan wouldn’t pay for repairs to your vehicle. When it all adds up, that means you just lost $15,000, which is a lot of money.

Now that cheap liability policy will just cost you thousands. Simple public liability and property damage may only be used under certain circumstances. For example, if you have a vehicle worth less than $3,000 and you don’t drive it much, you may be able to take this risk. Even if you’re a student with an old ride that isn’t worth much, you can take the risk and stay within your budget. However, if you have an expensive car and assets to protect, you should buy additional protection.

The other thing to consider with these cheaper policies is legal liability. The United States is a very litigious country. There are literally tens of thousands of personal injury attorneys looking for new cases. This means that if you get into a vehicle incident for which you were deemed responsible, a restricted policy could bite you. Let’s say you only have $50,000 in medical damage protection. You check your cell phone while driving, run a red light and T-bone a nice lady in a used Honda. She goes to the hospital for two weeks and earns $250,000 in hospital expenses.

Her attorney will immediately sue you for the balance of these charges, $200,000 in this example. You can go to court and challenge this, but it will cost you thousands of dollars to hire a lawyer. The judge in this example could award the victim the $200,000 plus legal fees, which would more than likely devastate you. A payment schedule of $2,000 per month may be deducted from your salary for ten years. So your money saving $39 a month will just cost you a fortune in the long run.

The most important thing to think about when buying auto-ins is the protection of your assets. If you earn more than $60,000 a year, get a policy with accident coverage up to $500,000. In the event that you do have a serious collision, you will be well covered and will not be financially crushed. You might pay $130 per month and even more for a higher limit plan, but in the long run, it’s the smart move to make.

You can take advantage of good driver or senior discounts and save 5% or more. Another good tip is to raise your deductible to $1,000 or higher. This way, you can buy a comprehensive ins plan at a lower rate. Don’t forget to put the $1,000 aside for the unfortunate event that you crash and need to file a claim quickly.

Buy Auto Insurance Direct and save big

Now that you’ve chosen the type of insurance you want, it’s time to shop around for the best rates.

Cheap auto insurance from the good guys

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