It doesn't matter if you drive a rugged SUV, a sporty convertible,
or an old clunker that just takes you where you need to go, vehicle
insurance is vital. When you're forced to throw on your brakes and
the car behind plows into you, or you accidentally clip that metal
pole with your bumper while backing out of a parking space, having
the right vehicle insurance means you're covered—no matter how
ridiculous you feel.
Besides, it's the law!
The "State" of Vehicle Insurance
Speaking of the law, vehicle insurance is a state-by-state issue. So
depending on where you live, your insurance requirements may or may
not be the same as it is in surrounding areas.
But don't worry—as long as you carry at least the minimum amount of
insurance required in your state, you can drive legally through one
state to another. When you get ready to go on vacation or cross
state lines, just make sure your vehicle complies with the laws in
your home state.
Protecting Yourself & Your Vehicle
When you're looking for basic vehicle insurance, you'll want to
think about several different types of coverage, depending on your
needs and budget:
Personal injury protection or medical payments coverage:
covers your own medical and rehabilitation expenses resulting
from an accident-regardless who's at fault.
Bodily injury liability: pays for injury you cause others.
Property damage liability: pays for damages you cause to
others' property.
Collision: pays for damage to your car resulting from a
collision with another car, object or as a result of flipping
over.
Comprehensive: reimburses you for loss due to theft or
damage caused by something other than a collision with another
car or object.
Uninsured and underinsured motorist: reimburses you, a
member of your family, or a designated driver if one of you is
hit by an uninsured or hit-and-run driver.
Most states require vehicle owners to buy a minimum amount of bodily
injury and property damage liability insurance before they can
legally drive their vehicles. To find out what your state requires,
visit the Insurance Information Institute at www.iii.org.
General guidelines: the insurance industry and consumer
groups recommend a minimum of $100,000 of bodily injury protection
per person and $300,000 per accident, since accidents may cost far
more than most states' minimum limits.
10 Ways to Save Big on Vehicle Insurance
Vehicle insurance can make a big hole in your pocket—if you let it.
Insurance premiums vary hugely between companies and agencies, but
if you're willing to take some time and shop around, it's easy to
find something affordable.
To get the best rates on vehicle insurance, we recommend these 10
money-saving tips:
Always maintain a good driving record. If you're one of
those people who consistently breaks the law or drives too fast,
your vehicle insurance rates will show it.
Get competitive quotes from different insurance providers.
The more you have to compare against, the better informed you'll
be-and the more likely you'll get the best rates.
Check insurance costs before you buy a new vehicle. Find out
which features increase insurance premiums and which ones lower
them. Keep these things in mind and choose your new vehicle
carefully!
Choose higher deductibles. This could reduce your vehicle
insurance costs by at least fifteen to twenty percent.
Consider buying vehicle insurance from the same company you
have your home, accident or life insurance with. Many companies
offer discounts to clients who buy more than one kind of policy.
Keep your credit record clean. Did you know some insurers
take a look at your credit score before setting your rates? They
do! So pay bills on time, keep loans to a minimum and keep
credit balances low for the most stellar reports.
Don't duplicate coverage. Consider dropping medical payments
coverage if you have a good health insurance policy. Because
medical costs are so high, this could save you up to 40 percent
on vehicle insurance premiums!
Choose where you live carefully. Due to risk of theft,
sometimes living and parking your vehicle in a rural community
or suburb costs less than in the city.
Take advantage of discounts like low-risk career, low
mileage, car pooling, no violations or accidents, taking
defensive driving courses or senior citizen price cuts.
Insure all your family's vehicles together, and check group
rates through corporate organizations, community clubs, and
professional or alumni bodies.
Make It Official!
Before you hop in your car today and head for work or school, get
covered with the right vehicle insurance, with InsureMe's help. In a
matter of minutes, InsureMe can help you find multiple quotes so you
can compare and pick the policy that's best for you and your
vehicle. And that's an absolute necessity—no matter what you drive!
This highly informative article was edited and produced by
InsureMe.com personnel specifically for the use of Tale Wins
Insurance Directory readers and it is to be used for purely informational
purposes only. This article is not intended to be used in place of
professional advice. ALL RIGHTS ARE RESERVED for the
creators
