5 mistakes while getting cheap auto insurance
1. Selection of the limits based on the minimums your state requires
There are some people who buy the minimum required insurance by the state.
Though it is good to be within the legal limits of the state laws it is also
essential to exceed the minimum limit for personal gains. The state implies the
basic limits for ensuring a basic safety level of the policy holders but
sticking to the limit, for cheap auto insurance, may actually cost you more.
Choosing the minimums results in risk of large out-of-pocket expenses every
time an insurance claim is filed. It is vital that while choosing insurance
limit the size of your vehicle and damage risks should be calculated.
2. Selecting an auto insurance company by price alone
The selection of the auto insurance company only on the basis of prices offered
by the auto insurance company can actually lead to more losses than gain.
Availing several auto insurance quotes and making the choice on who charges the
least, without examining what is being at offered at the price, is like selling
yourself short. It should be remembered that the quotes are not the actual
insurance prices and hence the coverage and other benefits should be considered
before availing these insurance prices. There are other factors to consider
like progressive insurance.
3. Hiding facts about your driving history
There are many people who don't want to reveal the facts about their tickets,
accidents or other moving violations during a quote. The risk of increase in
the prices and the premium rates are high due to the same. But it should be
remembered that the auto insurance companies in Chicago can check your driving
records and they usually do so before providing the final rates for auto
insurance quotes. Hence it is best to be honest about the same.
4. All auto insurance companies are not the same
Most people believe that all auto insurance companies provide the same rates
and coverage which is not true. There are some insurance companies which are
regulated on a state-by-state basis, their products and services are different.
Hence it is vital to compare the different deals and options being provided by
5. Selecting an insurance coverage that can be available through other avenues.
It is best to think about the possibility of duplicate auto insurance policies
before availing the same. There are instances when the manufacturer's warranty
is still active, and hence you don't have to avail the same in your insurance