Being the responsible adult that you are, you pay all of your bills on time, keep your appointments, and never flake on plans. Some might even call you conscientious. As you get ready to renew your auto policy, think about how it has served you. Has your insurance protected you after a serious accident, or are you just funneling money to an agency you’re not sure has your best interest at heart?
Not all insurance packages are the same. While they might look like they provide the same benefits on the surface, it’s the fine print you should be looking at. One way to figure out if your insurance policy is up to snuff is by using CoverHound’s auto insurance quotes comparison and shopping tool.
Crunching the Numbers
One of the great things about comparing auto insurance quotes online is how easy it is. All you have to do is punch in a few pieces of information and the Internet wizards come back with a list of competitive rates.
A lot of people are guilty of renewing their auto insurance policy without evaluating what they’re really getting out of it. This is especially true of consumers who have had the same insurance plan for years. One way to make sure that your insurance provider is offering you the best deal is to do an auto insurance quotes comparison with other reputable companies. Through comparing different policies, you’re educating yourself about coverages in the process. Not just this, but sharing your findings with your current insurance provider could net you reduced monthly insurance rates. Why? Because your provider will want to keep your business, and to do that they need to keep you happy.
Read the Fine Print
Plans change, and the same goes for the insurance policy you may have had for the last few years. Remember the old fairytale “Rumplestiltskin”? No matter the variation you’ve read, you know that Rumplestiltskin’s contracts aren’t always what they seem, this too is true of your own insurance policy contract.
For example, let’s say your auto insurance meets your state’s insurance requirements, that’s great, right? Most states require their motorists carry liability insurance. If you’re the driver at fault in an accident, liability insurance covers the repair and medical costs of the driver you collided with; it does not cover any of your own damages. Now imagine that you are driving along the highway when traffic slows to a crawl. You’re at a complete stop, wondering if it’s an accident or road work that has caused this delay. Suddenly, an old, beat-up truck plows into you. The damage to the back of your car is pretty severe, but is the driver responsible? They don’t have car insurance. This means you are the one who is financially responsible for the damages sustained to your vehicle. According to the Rocky Mountain Insurance Information Association (RMIIA) as of 2013 the average collision claim was $3,144. If you don’t have the right sort of car insurance, this comes right out of your pocket.
That’s why it’s important to know what sort of plan you have and how it protects you. What good is having insurance if it doesn’t help you when you need it most?
Pay Attention to that Expiration Date
One thing to keep in mind as you’re comparing auto insurance rates is to make sure your policy is not going to expire while you take time to research and compare your options. Not only is it illegal in nearly all U.S. states to not have auto insurance, but if you renew your policy after it has expired, your premium likely will have risen. To avoid this, start going over your options a month before your plan expires. This will give you a nice cushion of time to find a different policy, or will show you that the plan you have now is well worth its price.
At CoverHound, we offer our customers the very best with our auto insurance quotes comparison and shopping tool. Visit our online portal today to see what we can do for you.