What do you want the most -- the cheapest auto insurance quote or the most adequate coverage for you? This may look like an odd question but it isn't.
There are situations where you really do NOT need the best auto insurance policy. But because the law demands that you have it before you drive, you have to get one. In such a case you just need enough insurance to get by.
This may sound wrong to most people but let me show you a case and ways to do this without running into big trouble...
If yours is just an old car (NOT a classic), then you only need enough insurance to get by. This is because you'll NOT get any meaningful reimbursement even if you have comprehensive and collision coverage.
Insurers will calculate your car's value at the time of a claim based on what is known as Kelly's Blue Book. The painful thing about this "book" is that, for old cars, the value is too low. Therefore, your insurer pays you nothing or close to nothing notwithstanding how high and for how long your comprehensive or collision coverage was.
Central truth of this whole talk: If you have an old car, drop collision and comprehensive coverage on it -- It's the smart thing to do.
Now someone may argue that you also need to protect yourself properly from liability claims. Yes, you need to. But there's a better way to do it...
Get an umbrella policy. This will give you far more coverage from liability claims per premium dollar spent than the most extensive of auto insurance policies. Furthermore, an umbrella insurance policy will typically bankroll fully even the craziest of lawsuits and all you'd have to pay are very affordable premiums.
With $300 extra, you can only raise your liability coverage to $100,000/$300,000 (from $25,000/$50,000) if you are a 35-year old man living in a place like New York City. However, $300 will get you $1 million worth of coverage with an umbrella policy.
To sweeten it all, an umbrella policy will take care of any other liability claims arising from, say, your home (You'll do well to get details from your agent).
If it makes sense in your case, go for the minimum required by the law. But, please, it's better to buy more coverage than you need than to put yourself in a bad position. Take some time to think this through. And, don't forget to consult a financial expert.
To cut down your cost on auto insurance, you'll do well to get and compare quotes from five or more reputable quotes sites. This exercise will take just about five minutes per site. However, it could save you hundreds in premium dollars.
About the Author:
I recommend these pages for cheap auto insurance quotes: Cheap auto insurance quotes and Car insurance quotes. Chimpuriche Chihunrumnanya writes on insurance.
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