Car Insurance Mistakes
Avoid these car insurance mistakes:
1. Do not drive without uninsured motorist coverage. If you're in an accident with an uninsured driver, this car insurance will pay damages for you, your car and passengers. It also pays in hit-and-run accidents if the other driver flees the scene.
2. Do not carrying too much or too little uninsured motorist insurance on your car insurance policy. How much should you carry? Typical coverage is $100,000 per person in an accident up to $300,000 for any one accident.
3. Do not fail to consider insurance costs when car shopping. If you are in the market for a new vehicle, consider how your car equipment, such as antilock brakes, air bags or motorized seat belts can actually provide savings on your car insurance.
4. Do not insure your home and car separately. Many leading insurance companies offer significant discounts on your home and car insurance if you carry both with them. Allstate, for example, says car insurance premiums could be as much as 10 percent lower if you also have homeowners insurance with them.
5. Increase your deductibles. You can save money on your monthly insurance premium if you increase the deductible on your policy.
6. Remember to evaluate your car insurance coverage. You may be paying too much for the collision coverage on your car if it's an older model.