Gauging Your Vehicle’s Worth With Auto Insurance

Your car is literally one of the driving forces behind all of your travel, vacation, and social happenings. Without a reliable mode of transportation, we are stuck in the same place, doing the same things, and making the same choices. Each time we get into our car, a world of possibilities opens up: what if you took a different route home, what if you carpooled with your co‐workers, or, what if you made a cross‐country road trip right now? Finding the right auto insurance liability coverage that meets your driving needs and doesn’t break the bank is like finding a pot of gold at the end of a rainbow.

At CoverHound, that pot of gold has never shined more brightly. Our service representatives help you find auto insurance liability coverage that protects you when you need it most.

Your Car, Your Coverage

Don’t settle for just any auto insurance liability coverage. As creatures of habit, we usually stick with whatever insurance agency we’re already familiar with, choosing our policy based on whatever mom and dad use. When insuring your car, you deserve a coverage plan that meets your expectations, not your parents’. According to Consumer Reports, on average during the first five years of vehicle ownership a car costs roughly more that $9,100 a year.

The cost of your vehicle can be divided into two parts: carrying costs, and operating costs. Consumer Reports describes that carrying costs are associated with the costs in the auto purchase, while operating costs include gas, maintenance, repairs, and insurance.

While carrying costs drop over time due to your vehicle’s depreciation, operating costs rise. The older your vehicle, the more maintenance it requires. Your car’s age is a major factor to consider when you are trying to find auto insurance liability coverage that will protect you after an accident. If your car is 10 years and older, your insurance agency is more likely to total out your vehicle after an accident than finance repairs.

Not only will your insurance agency lowball the value of your now defunct car, but to add insult to injury, they will offer you a next to nothing to help you buy a new or used car. If you are going to be paying out of pocket for a new or used vehicle after an accident, why should you be paying an obscene amount of money for an insurance plan that supports the agency, and not you?

Re‐evaluate Your Coverage

Collision coverage is unnecessary to have when your car is worth less than 10 times the insurance premium, according to Time Magazine. Customers who cancelled their collision coverage reported saving as much as $440 a year by switching to an auto insurance liability plan. If you cause an accident and you have auto insurance liability coverage, your insurance company will cover any property and bodily damages sustained by the other driver and passengers you collided with and protects you from being sued for more damages later on.

When You Take Care of Your Car, It Takes Care of You

Maintaining your car is essential to keeping it running smoothly. Taking it for oil changes, giving it a wash, rotating your tires, and replacing your break pads saves you time and money. No matter your cars age, when it’s in perfect running condition, the out of pocket cost to fix something cosmetic after an accident is cheap and easy to do, especially when you’re saving money by choosing auto insurance liability coverage over collision.

CoverHound provides auto drivers with a wide selection of auto insurance policies at competitive prices. Compare auto insurance liability coverage plans using our platform today!