| Cheapest Vehicle Insurance Quote -- A Great Policy? |
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| Written by Chimezirim Odimba |
| Saturday, 10 April 2010 16:12 |
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Do you prefer getting the lowest quote or the most comprehensive coverage? This may look like an odd question but it isn't. Getting the best auto insurance is highly recommended but NOT in every situation. There are times when you just need enough to stay on the right side of the law. Following is an example of such situations...
Do you prefer getting the lowest quote or the most comprehensive coverage? This is NOT a rhetorical question. 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. Following is an example of such situations... You should go for your state's minimum requirement (and nothing more) if your car is very old but NOT qualified to be called a classic. No matter how much you pay in premium, you won't get anything meaningful enough to warrant maintain comprehensive or collision coverage types for such a car. The simple reason is that reimbursements or compensations are based on your car's Kelly Blue Book value. It's a convention that helps insurance companies what you should get when you make a claim. As your car gets very old it could drop to just a few dollars. This means then that getting the most extensive coverage for your old car won't do you any good. Won't it be risky to cut reduce the liability part of your policy to the barest minimum? Yes, it would. However, you should do it this way... Get an umbrella policy and reduce the liability part of your auto insurance policy to the barest minimum. This will give you far more coverage from liability claims per premium dollar spent than the most extensive of auto insurance policies. You can hardly ever get liability claims that this policy won't give you fair coverage from. If you want a million dollar coverage, all you'd have to pay is just about $300. For your auto insurance policy to give you this measure of personal liability coverage, your premium will go through the roof. For good measure, your umbrella will be in full force whether your liability issues are from your vehicle, home or business (ask your agent for details). But, please, don't make the mistake of staying without any form of auto insurance if you must drive -- It's against the law. You can have the best of both worlds by going for dirt cheap quotes. That way, you'll only pay for what you need -- Staying law abiding. Please, don't forget to get the details of this tip before applying it. And, don't forget to get and compare rate quotes from a wide range of insurance providers. For a very old car, choose the highest deductible amount possible. It will help reduce your rate even further. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. How much much savings will you make? $100, $200, $300, $400 or even a lot more? Discover how much by obtaining and evaluating quotes at the following sites: affordable auto insurance and auto insurance comparison. Chimezirim Odimba gives away sure-fire tips for savings on insurance. |