Avoid these common mistakes when buying car insurance
So, you’re planning on getting car insurance and you decided to get some help online. This is a smart move because you probably already know that it can be a long and painful process if you’re not well informed on all different kinds of car insurance, as well with ways to pick the right one for you.
When balancing between overpaying and underpaying the insurance, people tend to make mistakes that could cost them a lot of money in the future. To help you go through the whole process as fast and painless as possible, we’ve got you a list of the most common mistakes people make when insuring their vehicles. Learn from other people’s experience and avoid making these yourself! Read also: 6 Popular car insurance myths unveiled.
Getting the cheapest insurance available
Never go cheap when choosing car insurance, because it could cause you quite a headache in the future…The main thing you want to have covered is the liability car insurance that covers medical expenses in case you injure someone while driving, as well as damage expenses if you damage another vehicle or property.
These kind of expenses are the highest ones that you could be facing other than having your own car damaged beyond repair, so it’s the first thing you need to get. Just imagine a scenario where you end up paying thousands of dollars on medical treatment expenses just because you didn’t invest a couple hundred dollars in car insurance. Always be smart and invest at least one half of the money you intend on spending on insurance on liability insurance. Read also: Myths about car insurance debunked.
Not combining car with home insurance
Did you know that you could save up to 15% on both home and car insurance if you get a multi line insurance policy? This way you’re not only killing two birds with one stone, you’re doing it for less money. Almost every insurance company will be glad to offer you discount if you choose to insure several vehicles at the same time or to combine car insurance with home insurance. Why pay more when you could be saving a couple hundred dollars?
Not looking for the best deal
Recent studies show that drivers who spend time looking for the best insurance company deal spend $300 less on a six month policy on the average. Just think how much you could save by just spending a couple of days looking for the best deal! With so many car insurance companies offering their services online, it’s easier than ever to shop around and see what’s getting you the most for the least money! Read also: How people can make accident claims.
Paying the premium in installments
Getting the total amount of your car insurance premium divided into monthly installments might sound like a good idea for the budget, but it turns out to be exactly the opposite in the long run. Every insurance company will charge you a convenience fee based on the number of installments you divide the whole sum into. This could add up to a hundred dollars per year just for the fees! If you can afford to pay the whole premium at once, don’t hesitate to do it.