Shopping for car insurance is a task no one really enjoys doing, but it’s part of owning a car. That said, it’s a good idea to put some time and effort into looking at your different options and your monthly payments are just one thing to consider.
You don’t just want to consider rates. It’s also important to consider liability limits. The thing to think about here is your debt-free assets. If they are greater than your liability coverage, you could get into trouble if you get into an accident and get sued. In fact, you could lose everything if an attorney goes after you. You also need to be concerned about what happens if a driver without insurance hits you. So check the limits paid out should that occur.
What Else is Offered?
When you are quote shopping, read the fine print. See what exactly is offered in your plan. Do you have rental car coverage? Or can you use the body shop of your choice? Does the insurance company use original equipment parts, or do they use used or aftermarket parts?
Check Complaint Records
Do yourself a big favor and also check complaint records with your state. You don’t want to do business with an insurer with poor policyholder satisfaction.
Ask Dealer Body Shop for Recommendations
A great idea is to ask your dealership’s body shop for recommendations. They know the insurers who allow them to repair vehicles the right way without taking cutting any corners.
Leases Often Require More Coverage
Also, if you’re thinking about a lease, know upfront that you’ll probably be paying more for insurance. Carmakers generally require more coverage for leases than if you decide to buy the vehicle.
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