We keep hearing this phrase “If it is worth doing it is worth doing well”. This applies to insuring automobiles as well. If you have to buy vehicle insurance by law anyway why not try to get good level of coverage? You may think that it is easier to say than to actually spare the time and do it. However, this shouldn’t stop us from trying to get the best policy we can while we have the chance.
The price difference between a reasonable policy and a good one is usually only few dollars. However, the difference between the protection offered by good level of auto insurance coverage and an okay one can be substantial. If you wait until you have a claim to realize this you have waited too long.
There is no doubt there are certain problems and issues that stop people achieving this goal. Lack of knowledge, money and awareness are some of the concerns. Unfortunately, insufficient cover is only one part of the problem. There are quite a few uninsured motorists in the USA. Some of the reasons that stop people from buying good auto insurance coverage are discussed below.
Lack of Knowledge
Many people consider insurance to be a difficult and boring subject to understand and deal with. Therefore, they avoid looking into it and understanding vehicle insurance policies. If you don’t know what your policy covers you wouldn’t know if it is sufficient or mediocre. It is much easier to learn on any subject today thanks to the Internet. You can quickly search the term or word online and find out what it means. If you want you can even read pages of articles about the subject.
In worst case, you should talk to a broker who will be able to explain ins and outs of a policy. Furthermore, they are experienced in dealing with various customer questions that no question would be silly for them to answer. It is better to ask no matter how silly it sounds rather than finding out you don’t have enough or good car insurance coverage when you have a claim.
Lack of Money
This is an issue we cannot raise many arguments against. Many people don’t have enough money to pay for their basic needs like food and accommodation. And yet those people must have a car to go to their work or carry on their business. This is not an excuse but a fact of life. Nonetheless, authorities try to help those low income drivers. Many states have special arrangements to allow low income families find cheaper vehicle insurance. They set lower limits for those people so that the premiums are lower as well. Usually, these policies are means tested and you need to have below certain household income to be able to buy them. So, check what special arrangements are available in your state before driving without insurance.
Besides, the cost of driving without insurance is substantial. You will face penalties, fines, point deductions from your license and even prison sentence if you get caught second or third time. You have to think if it is worth the risk to drive without coverage. You wouldn’t only be paying a lot more when you get caught but also, you wouldn’t have any protection while driving should something happen.
Money may be tight but you can still try to get good coverage by looking at budget car insurance tips that may help you find a decent policy with package deals. In worst case, you can get quotes for two different types of policies. One for the basic liability only and the other for auto insurance coverage you need. And see the difference in price before walking away from reliable coverage for financial reasons.
There are many myths and misconceptions about insuring automobiles and buying policies. One of the common ones is that people believe the more they buy the more they will pay. This statement is only partially true. The larger the coverage the lower the rates would be.
When you buy the minimum car insurance coverage you will be paying the highest rates because this is the part everybody has to buy and it includes all the policy set up and administration charges. As you increase the level of protection the additional premium you have to pay becomes more and more negligible.
The second misconception is that people believe companies charge about the same premium. Therefore, they think that there is no point shopping around. This is no different than shooting yourself in the foot. Your misconception costs you a lot of money. Every company has their own price chart that can be substantially different from others. Let’s forget about the cheap or hardly known insurers for a second and get several quotes from these top 5 car insurance companies in the US to eliminate the doubt about the quality of cheap insurers. You will see how much quotes can be apart from each other even among the best companies.
It is very easy to check how much other companies would quote when you receive your renewal terms. Everyone can find cheap online auto insurance pretty quickly these days. It is quite silly to complain about not having enough money to buy good automobile insurance coverage and yet not to shop around for the best coverage and prices. You have a higher chance of saving some money if you haven’t looked into alternative quotes for a while.
This is the worst reason you can have not to purchase good auto insurance cover. Many people have the face to even argue that states have no right to force people to insure their vehicles. This is a really selfish argument that can come back and bite you in the backside. Number of uninsured motorists would be three times more if it is not a legal requirement to insure automobiles before you can drive. Then, how could people get compensated for the damages caused by these uninsured drivers? Who would pay for their losses, injuries and even death?
It is smart to purchase good car insurance coverage even though it may not be obvious to many people. First of all, you don’t need to worry about being stopped by police. Secondly, you would be covered should something happen like an accident or auto theft. Thirdly, it doesn’t really cost as much as you think to get decent coverage especially if you shop around for the best deals.