The reason you buy automobile insurance is the same that you buy any insurance; it’s a way to smooth out the costs of catastrophic accidents or financial distress caused by them. Adding covers to your policies may only add dollars per month, yet even a moderate accident without these coverages could force you to pay thousands or even tens of thousands of dollars. Increase your auto insurance coverage limits to protect your financial health; it’s that simple. You can achieve this by getting best cheap vehicle insurance coverage.
Here are 12 recommended auto insurance coverage options. Most people in the US buys full coverage automobile insurance and they may or may not include these covers depending on how comprehensive they are, who issued the policies and what are the sate regulations. It is always best to know what you need and want and search to find a way to get them as cheap as possible.
- Increase Liability Auto Insurance Coverage Limits
Most people do not realize that state minimums often do not even cover minor accident costs. If you only buy the minimum coverage required, you will have to pay out of pocket for moderate to severe accidents you cause. For Liabilities, recommended car insurance coverage limits are at least 100/300/100. This is $100,000 if you injure one person, $300,000 if you injure multiple persons and $100,000 to cover other people’s property that you damage.
- Get Comprehensive
As mentioned above, liability insurance only covers other property and not your own. Comprehensive cover can protect your car against theft, fraud, and vandalism, accidental and weather related losses. It is not difficult to see why you would want to include this especially if you have a valuable vehicle.
- Add Collision Insurance
You caused an accident and luckily your liability insurance will pay the claim of others. Yet, the damage to your vehicle is still in the thousands of dollars. Collision insurance ensures your car is covered in an accident even when you are at fault. Comprehensive and Collision are most recommended automobile insurance coverage that you can add to your policy.
- Minus the GAP
Did you purchase a car and finance the payments in the last three years? If you do not have GAP car insurance coverage and you total your vehicle in an accident, you may owe the financing company money after any insurance settlement. The newer the vehicle the higher this gap could be. That is why GAP insurance is one of those popular auto insurance coverage recommendations for people with automobile loan.
- Avoid Underinsured Drivers
You got hit, and paid $30,000 in medical expenses and property damage to your car. However, the person at fault’s insurance only covers $10,000. How do you recover the other $20k? Underinsured coverage can solve this and that is why it is one of the key car insurance coverage recommendations. If this is not automatically added onto your policy you can ask it to be included. Some states require it to be included.
- Take Uninsured Drivers Out of the Equation
There are as many as 25% of all drivers that DO NOT have insurance. If they hit you, there will be no insurance settlement from their coverage. If they do not have insurance, it’s a good chance they cannot afford to pay damages. Uninsured coverage solves this problem.
- Not-OEM Coverage
Hot-rodding your car with racing parts that are not to the original manufacturer specifications can get very expensive in an accident. Almost all insurers do not cover these extra modifications in any policy. Insuring these parts is advised car insurance cover that can protect your investment on them. It is safer to spend few bucks more every month than feeling sorry after a claim.
- Cover Your Mobility
Rental car reimbursement and mobility coverage ensures that if you are in an accident you can still get to work. It provides for rental car or expenses for other modes of transportation. This is one of the popular auto insurance coverage suggestions seen but it may not be one of the most valuable, especially if there are limitations. Insurers usually limit the rental pay per day and how long it will be paid. It is best to check its price and then decide what to do.
- Ensure Medical Bills are Paid
Medical bills are the most expensive in any auto accident. If you do not have health insurance, or it will not cover all bills, medical payments coverage can provide the difference.
- Increase Your Personal Injury Protection
In no fault states, your PIP policy will cover your injury, yet a state minimum may not cover all your costs. Ask about increasing this coverage just like you did for liability coverage. At least get a price for much larger coverage. Remember, state minimums are usually basic car insurance coverage that is enforced on even the poorest vehicle owner and therefore cannot be over strenuous.
- Insure Valuable Extras
Did you install an amazing sound system? Do you carry specialized and expensive equipment in your vehicle for personal or business use? These are not covered under your policies. They need to be specifically insured with an endorsement on the policy.
- Get Towed for Free
Towing and labor for getting roadside assistance can often run into the hundreds of dollars. For a couple dollars a month, never worry about this expense again, no matter where you are.
Getting the perfect cover for your situation means ‘covering all your bases’. As soon as you leave out one of that above recommended auto insurance coverage, you could be forced to make a large one-time payment that can strain your finances or cause undue hardship. Why not make sure you get protected properly since you have to buy insurance for any vehicle you own anyway.
Get new quotes for these policy additions right here. Our quick and easy car insurance comparison platform can help motorists find the best deals and policies in no time. Usually, it doesn’t matter where you live or how difficult is your case. You are bound to find an insurer who will be happy to do a deal. You just have to make sure that you haven’t left any stone unturned until you find that perfect insurer. This is one of the best car insurance tips you could ever get.