Did you just drive your brand-new car out of the dealer’s parking lot in Houston? If you just did, or even if you happen to be rolling down the highway in that clunky heap of bolts you can barely call a car, you will need protection. Like any other activity you engage in, such as building a home or renting a building out, you will need to protect everyone involved in your surroundings. Don’t make the mistake of thinking that you don’t need this protection. Overwhelming statistics show that you are bound to make a mistake and cause a collision at least once in your life, or be involved in one.
One of the biggest reasons why you might need car insurance is that your vehicle is an investment. You spent your hard-earned money on it, and you deserve to enjoy it for a long time to come. By insuring your vehicle, you’re making sure that your investment is protected for the near and distant future.
Obviously, it is important to find the best of cheap auto insurance Houston has to offer. There are other things you need to think about that matter just as much, if not more, than the price of your premiums. Having a cheap insurance policy is going to mean absolutely nothing if you aren’t covered in an accident or collision with an object that isn’t a car.
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- Minimum Means Nothing if You Have a Claim
- Ask About Discounts and Criteria
- Remember that Lower Premiums Means Lower Coverage
- Consider All Your Options When Buying
- Does Your Insurance Have a Loan Policy?
- Do Not Lie.
- Don’t File Claims for Nothing
- Do Your Homework About Installment Payment
- Does Your Employer Give You a Discount?
- Get Your Work Vehicle Covered
Minimum Means Nothing if You Have a Claim
While people are encouraged to buy the absolute minimum coverage allowed by law to cover their cars, this might be a bad decision. Your insurance premiums will reduce almost immediately when you start off with a minimum coverage policy. The problems begin when you have to actually lodge a claim. If you happen to be getting your insurance policy simply to avoid being fined by the local boys in blue, you’re making a big mistake. In case you’re ever involved in a collision, you’ll find that you’ve saved nothing.
The same principle applies if you are choosing a policy with a high deductible amount in order to lower your premiums. This is a good tactic that is recommended by many experts. You should do it with caution, though. Make sure you can pay off a higher deductible with the cash you have on hand before you agree to this amount on your policy.
In the event of a collision, you have to pay the deductible amount before your claim is considered by the insurance company. You don’t have a thing to worry about if you have a lot of money stashed somewhere, but for the common layman, getting a high deductible policy is a process that needs to be approached with caution.
Another aspect of deductibles to think about is repairs. How much would your car cost to repair after an accident? Imagine you have a policy where the deductible is $1000. Now think about a situation where you were in a collision and you have to pay $5000 for the repairs. With your current deductible, you would be covering nearly 20% of the repairs on your own. With a lower deductible, such as $500, you would only be covering a tenth of the costs. We recommend reading our article on full coverage car insurance to better understand minimum and maximum coverage: http://www.autoinsurancemonkey.com/how-to-get-cheap-full-coverage-auto-insurance/
Ask About Discounts and Criteria
Today, most of the cars in existence are fitted out with the most advanced security systems known to man. These systems allow the insurance company to lower your premiums because of the safety that is afforded to you by the advanced technology in your car. Don’t buy your insurance policy without first considering the discounts you may be eligible for with the car insurance company. Your insurance agent is typically very knowledgeable about this, and can advise you about the criteria you need to satisfy to qualify for one of these discounts. Some of these are as simple as taking a course for defensive driving, having a license for a set number of years, or even having a clean driving record.
Remember that Lower Premiums Means Lower Coverage
Do you live in one of the many states in the USA where the minimum insurance rate for an individual is specified by law? Well, if you are considering getting the lowest policy available at the insurance company in Houston, for example, think again. While it might be tempting to save a few bucks, you might not be satisfying the requirements of your state.
The state’s law has certain types of coverage that are mandatory to all drivers. If the cheap insurance policy you’re considering getting doesn’t include this type of coverage in the price, you’re basically opening yourself up to tickets, suspension of your license, and even conviction if you are caught.
Consider All Your Options When Buying
There are many ways to receive discounts when looking for a good insurance policy in Houston and in other cities and states. Some of these include being a customer for a long period of time or having over one policy of any type with the company. However, there is a common mistake that people make.
They become secure in the thought that their insurance company, with all its discounts made just for them, is the best choice. They don’t shop around for better options, and therefore miss out on a whole range of opportunities. Always shop around for better options in insurance policies at least once a year to ensure that you are truly making the most of your money.
Does Your Insurance Have a Loan Policy?
When you have an accident where your car is wrecked and needs to be towed away for repairs for over a day, you are going to be in a spot of bother. After all, you have now lost your only way to get around. There is no way for you to get to work, school, or wherever else you need to go. Some companies offering auto insurance Houston also offer an additional service with their insurance policy.
You have to ask for this service as an add-on to your current coverage. It allows you to get a car on loan from the company while you wait for your own car to be fixed. This saves you money that would otherwise be spent on taxis, public transit, and rental cars.
Do Not Lie.
Lying to your insurance provider is an extremely bad idea. You might be tempted to fib a little in order to save a small amount here and there. For example, you might tell them that you usually park in a secure parking garage instead of out on the street. You’ll save a little on your premium, of course. If you get caught in the lie, though, you will face dire consequences. These include higher rates that refuse to go down over time, or even being dropped by the insurance company altogether for fraud. Another thing you should always be honest about is who the people are who drive your car.
Don’t File Claims for Nothing
There is a difference between using the protection you have been given by the insurance company and abusing it. If you’re involved in an actual accident with another car and there is significant damage to your vehicle that needs to be repaired, you have every right to call the company.
If grandma Judith lets her shopping cart roll down the parking lot and bump into your car by accident, don’t call the insurance company. Each time you file a claim, your premiums have a chance of increasing in cost. Claim wisely for the best experience.
Do Your Homework About Installment Payment
Some insurance companies will offer you the chance to pay off their policies using an installment system. This can take about $10 out of your account every month, but you get to pay for your insurance policy over an extended period of time. This is not a good way to go about paying your policy off. Try to afford the payment outright or in extended installments of twice a year or less. You do not need the added stress of more money leaving your hands.
Does Your Employer Give You a Discount?
This is a question you need to ask your manager at work immediately. There are many employers today who give their staff discounts at approved insurance companies partnered with the employer. Ask your boss if your own company has any such deals with a local insurance company. This is also possible through other groups like old university faculties and fraternities.
Get Your Work Vehicle Covered
Do you use your personal car for work too? If you happen to be a pizza delivery guy in your spare time and use your own car to do the task, you will need an insurance policy that covers this. A personal policy will not. Ask your insurance agent what the best course of action is in this case.
Knowledge is power. Knowing the best way to make the most out of your new insurance policy will ensure that you save money and stress in the future!