Tips to Get Auto Insurance

According to data from the National Insurance and Bonding Commission, only 31 percent of the estimated 21.4 million automobiles in existence in the country have auto insurance.

This figure is alarming if we think about the risks we are exposed to if we do not have insurance for our vehicle. Although sometimes it may seem like an unnecessary expense, the reality is that if we cannot pay for an emergency that requires about 5 months of our salary with ease, we should hire car insurance because otherwise we would be in serious financial trouble, beyond the health or legal problems that could cause an accident.

Because you consider it important, here are some tips for getting fast auto insurance.

To begin, it should be emphasized that auto insurance is not a luxury, nor something that we can do without at will. Although it may seem that there is little risk to travel in the city, the reality is that the main function of car insurance is to cover expenses for other people that we can affect in the event of an accident.

A road accident with damage to third parties commonly costs from $ 20 thousand to $ 30 thousand. The average amount for which you are insured in a limited coverage is $ 280 thousand. Nowadays it has become mandatoryto have insurance that covers minimum civil liability.

  1. Investigate the insurance company

The first and most important advice to choose an insurer is to check the portal of the National Insurance and Bonding Commission that the company you want to hire is registered, as this will avoid falling into fraud.

  1. Check the types of coverage you have, and select the one that best suits your needs.

The most common are limited coverage and broad coverage; in the first, the total theft of the automobile, civil liability and medical expenses are covered; the second, can cover other items such as road assistance, legal assistance, and extend your coverage for damages in strikes or fires, for example.

  1. Calculate the cost and compare.

Each company takes into account different variables to calculate how much it will charge according to the model of your car, its age, the area where you live, among other factors. Therefore, each insurer will have a different price for the same vehicle. Normally, you can request an online quote on the websites of each company, and together with this quote they provide you with a broader detail of what their policies cover. So he requests information from several insurance companies and compares. It takes into account not only the price of the premiums, but also of: the sum insured, the cost for deductibles, the risks covered, the services they provide and the coverage clauses.

  1. Choose the payment period that suits you best.

With this, you can define the insurers that offer you the best facilities to fulfill your obligations as a client. If you can pay in cash, you can pay annually and, in some cases, significantly reduce the cost of insurance.

One Response to “Tips to Get Auto Insurance”

Leave a Reply

You must be logged in to post a comment.