Insurance For a Car - How to Lower Your Car Insurance Payments the Smart Way
When purchasing insurance for car there are many little things that you can do to make sure that you lower your monthly car insurance payments and still cover yourself just in case a big accident occurs.
First you must understand that your car insurance agent is trying to get as much out of you as far as monthly payments as possible so they will most likely try to convince you to get all the bells and whistles that come with their policy, but you must look at a few factors that will influence your decision for the next few years.
When purchasing a policy make sure that the foundation of it is relegated towards making sure that you do not get wiped out in a single major accident or payment.
In other words, as a rule of thumb always make sure that the liability coverage part of your auto insurance policy is covered up to at least $500,000, and the great part of this is if your previous coverage is around $250,000 than hiking it up to the half a million dollar mark will most likely cost you about $75 a year at most for two average age drivers.
If you are younger driver however you really don't need a $500,000 liability coverage because most young people these days especially with the way the economy is going to own that much of a net worth so for teenage drivers it would probably make more sense to be covered at about $300,000 range.
Another thing to think about is the deductible aspect of your car insurance policy.
Why should you pay a higher monthly payment on a lower deductible when that money could be better put to use elsewhere, like paying monthly House bills or food bills.
We are living in times where the most important thing is just getting by every month so paying that extra monthly payment to get a lower deductible just makes no sense.
As I stated before the bulk of your cash being paid for your car insurance policy should be focused on your liability coverage just to make sure that you don't get hit with a homerun punch should you get into or be liable for a big accident.
These are just a few things that you could look at spending your money wisely on your car insurance.
Look for more of my upcoming auto insurance tips in the next coming weeks.
First you must understand that your car insurance agent is trying to get as much out of you as far as monthly payments as possible so they will most likely try to convince you to get all the bells and whistles that come with their policy, but you must look at a few factors that will influence your decision for the next few years.
When purchasing a policy make sure that the foundation of it is relegated towards making sure that you do not get wiped out in a single major accident or payment.
In other words, as a rule of thumb always make sure that the liability coverage part of your auto insurance policy is covered up to at least $500,000, and the great part of this is if your previous coverage is around $250,000 than hiking it up to the half a million dollar mark will most likely cost you about $75 a year at most for two average age drivers.
If you are younger driver however you really don't need a $500,000 liability coverage because most young people these days especially with the way the economy is going to own that much of a net worth so for teenage drivers it would probably make more sense to be covered at about $300,000 range.
Another thing to think about is the deductible aspect of your car insurance policy.
Why should you pay a higher monthly payment on a lower deductible when that money could be better put to use elsewhere, like paying monthly House bills or food bills.
We are living in times where the most important thing is just getting by every month so paying that extra monthly payment to get a lower deductible just makes no sense.
As I stated before the bulk of your cash being paid for your car insurance policy should be focused on your liability coverage just to make sure that you don't get hit with a homerun punch should you get into or be liable for a big accident.
These are just a few things that you could look at spending your money wisely on your car insurance.
Look for more of my upcoming auto insurance tips in the next coming weeks.
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