A 2014 report published on Insurance Journal highlights the grave danger that the modern motorist faces daily. With the revelation that over 34% of drivers are either uninsured or underinsured, it becomes clear that the comfort you might be feeling with your cover might not be sufficient.
Worrying Accidents Stats
What’s more, the National Highway Traffic Safety Administration (NHTSA) says that even with reducing accidents on U.S roads, fatalities standing at over 32,200 annually are still outrageous. The Insurance Institute for Highway Safety (IIHS) also presents similar figures stating that over 30,000 accidents are occurring annually.
Staying on the Safe Side
As a car owner, it behooves upon you to get more information on how to stay safe on the roads through adequate insurance cover. Here are some easy tips to always ensure you are safe every time you hit the tarmac.
Legal Requirement of Insurance Coverage
You should appreciate that every state carries minimum levels of auto insurance coverage or an equivalent in a financial responsibility waiver. Whether you are new to a particular State, always make sure you understand these minimum requirements lest you end up in a legal fix.
Determine Coverage Requirements
Once you have an idea what your coverage limit in the State is, you should then consider your unique coverage needs. Every motorist is different and hence insurance companies are ready to offer customized packages.
For instance, if you have a teenage driver at home, you need more cover while long distance commuting also calls for more coverage. You also need to evaluate value of your assets in order to increase liability cover to protect them in case of an accident where you are found liable.
Get Insight on Coverage Types
The greatest mistake you can make when looking for cheap auto insurance is to ignore what each cover entails. Some of the most common policies include bodily injury liability, property damage liability, uninsured and underinsured motorist coverage, collision coverage, comprehensive/physical damage and extra cover such as vanishing deductible and accident forgiveness cover. To know more about auto insurance visit our site – https://cheapautoinsurance.net
Understand what affects Your Rates
A 2013 report on U.S Money indicates that only 27% of drivers in the U.S understand what determines their insurance rate. Well, if you are looking to buy auto coverage, you better understand some of the determinants including your age, gender, amount of deductible you wish to pay, your neighborhood, moving violations, security systems in your car, car modifications, accident prevention training and, of course, your credit score rating.
Compare Insurance Quotes
There are hundreds of companies in every city which offer amazing deals, but you can only get the best through intense comparison. You should ask for the same coverage from these companies and then compare total costs, benefits and extra features each policy offers.
Go for Discounts
It is important to ask your agent about any extra benefits that come with buying auto coverage from a particular company. For instance, some firms give you discounted rates if you stay with them for a specified number of years, especially without making any claims.
Auto accidents are bound to happen, but with adequate coverage, at least you have ample cover to avoid financial devastation.