Auto insurance? Bah, it’s easy!

Hydrant Accident

I am yet to come across a person who has found automobile insurance to be easy and hassle-free. There are so many doubts, so many questions, so many ANSWERS that you don’t really know what to do with all this information, much less where to start.

Alright, calm down. It doesn’t have to be so difficult. In fact, I’m going to tell you how it’s all actually pretty easy peasy.

Step 1: Find out your State’s requirements

Each State has a different legal requirement for the minimum amount of auto insurance coverage a driver is obligated to have. A visit to the local DMV should help you understand your State’s requirements better, which you can use as a base to establish a reasonable coverage amount to fit your needs.

Step 2: Different kinds of coverages to choose from

While some kinds of coverage may be required by the State law, there are several other kinds of coverages offered by companies for you to choose from. Once you have a better understanding of the different kinds of coverages offered by companies, you can decide on the different coverage options you’d like to include in your policy, keeping your budget, location and requirements in mind. The most common types of coverages offered are:

  • Liability
  • Collision
  • Comprehensive
  • Uninsured/underinsured motorist
  • Personal injury protection
  • Medical payments
  • Rental reimbursement
  • Towing and labor

Step 3: Get that quote online

Getting classic car insurance quotes has gotten so much easier now with the Internet. Not only can you get a quote in less than 5 minutes, but it’s also free, more convenient and accurate. Most companies have insurance quote calculators on their websites. If you choose to go through a quote comparison website, you will most likely be asked to fill out a small questionnaire about your car, your age, your driving history, where you live etc. Once you’re done filling out the details, you get a quote that is personalized and fitting to your insurance needs. You can then add coverage options and once you’re done the website will begin looking for instant insurance quotes within your budget.

 

Step 4: Keep your deductibles high and review your policy annually

Before signing the papers, choose to pay a high deductible. A deductible is the amount of money you pay upfront in the event of an accident. Should an accident take place, you will be required to pay this money out of your own pocket, so it is a wise idea to keep this amount to a payable limit. To keep your premiums low, keep your deductibles high. Another way to save on your premiums is to find out about the different kinds of discounts offered by an insurance company. Some of the most common discounts offered are: good student discount, defensive driver discount, multi-policy discount etc.

Once the papers have been signed and you have bought your policy, make it a point to review it annually. Life changes such as marriage, divorce, getting retired etc all stand a chance to affect your policy, so always keep your insurance provider in the loop of things as they happen.

Car insurance does NOT have to be a tricky process. After reading this post, don’t you agree?

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Article written by

Elvis Donnelly is a father of two who works from home and lives with his wife. She is voracious reader and always looks out for happening topics related to personal finance. She specializes on subjects related to car insurance and uses her spare time to write on topics related to classic auto insurance and auto insurance.

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