Working with a trustworthy insurance agency is key to getting good auto insurance coverage at reasonable costs. At State Insurance Solutions in Arlington, TX, we can help you avoid costly mistakes in purchasing auto insurance that can increase your premium unnecessarily. What are some of the most common mistakes people make when renewing their auto insurance policy?
Not Re-evaluating Their Needs
When renewing car insurance, it’s important to re-evaluate your needs as circumstances may have changed from when you purchased your original policy. If you upgraded your vehicle or use it more often, you may need more coverage to protect you against accidents. Consider the value and use of your vehicle, your driving habits and your budget when renewing your policy to determine the coverage you need.
Not Shopping Around
Auto insurers vary in coverage options and costs. If you don’t shop around, you may get stuck with mediocre coverage from a mediocre company. Research your options, compare insurance packages and costs and look for a company you can trust.
Getting Insufficient Coverage
Insufficient auto liability coverage could leave you liable for paying high medical bills or property damage to others in an accident you cause. Without collision coverage, you’ll also foot the bill for repairs to your car. Unless you’re financially capable of handling these expenses, it’s best to obtain insurance coverage that offers protection for both.
Raising Deductible Too High
You may be tempted to raise your deductible to lower insurance costs. If you choose a deductible that’s higher than what you can reasonably afford to pay for injuries or car repairs in the event of an accident, you’ll suffer financial loss as you’ll have to pay more out of pocket to cover accident costs.
For help selecting the right car insurance package at the right cost, contact us at State Insurance Solutions in Arlington, TX.