When it comes to car insurance, not all people’s needs are the same. Some of us drive sporty cars while others drive an SUV or truck. Some of us are young with no experience record behind the wheel while others have many years of accident-free driving to prove that they are responsible drivers. It’s only logical, therefore, that our car insurance will differ. But how does one get the right car insurance for your specific needs? Keep on reading to find out.
Car Insurance FAQs
How much auto insurance do I need in Colorado?
The Colorado minimum auto insurance requirements are designed to provide a small level of protection in the event you damage someone else’s property, or you cause harm to another person. In Colorado, drivers need a minimum of $25,000 per person and $50,000 per accident for Bodily Injury Liability Coverage and $15,000 per accident for Property Damage Liability Coverage.
What is the best deductible?
The best deductible is what you can afford to pay out of pocket when you file an auto insurance claim. The higher the deductible, the lower your premium will be, and vice versa. A higher deductible means your accepting a more significant portion of the risk yourself. It is best not to take on more risk than you can afford.
What is “full coverage?”
There is no such thing as “full coverage” insurance. Full coverage auto insurance is a term that is used to suggest you have chosen protection that goes beyond the minimum coverage required by your State. It typically includes collision and comprehensive coverage, medical payment coverage, and uninsured and underinsured motorist coverage.
How can I save money on my car insurance?
You can save money on your car insurance by avoiding moving violations, crashes, DUIs, and other incidents. By having a clean driving record, you may also qualify for a safe driver discount. Students may qualify for good student and student-away-at-school discounts. Your vehicle’s anti-theft devices and safety features may also provide more discounts. Paid-in-full, multi-car, and prior carrier discounts are also common.
How long does an auto accident affect my insurance?
A crash won’t impact your car insurance premiums forever. After about three to five years, your rates should recover. Exactly how long this takes will depend on the type of accident as well as the company you are insured with.
Is buying direct cheaper than buying through an agent?
Buying direct is not always cheaper than buying through an agent. You might think that cutting out the middleman would result in cheaper car insurance rates, but when it comes to insurance, this isn’t the case. In fact, an independent agent, one that represents many insurance companies, can often save you money.
What is the best auto insurance company?
The best auto insurance company differs per individual. No insurance company is objectively the best. It all depends on what you’re looking for. Do you want the best customer service, the broadest coverage, or the lowest rates? Or maybe you have unique coverage or underwriting needs? An agent can help you compare car insurance quotes from multiple insurance companies and find the right policy for your situation.
What is the best or cheapest auto insurance rate?
The best or cheapest auto insurance rate can be found by comparison shopping. Compare premiums as well as differences in coverage. An independent insurance agent can help. They can provide options from multiple carriers, along with the expert guidance you need to make a smart choice.
How do I switch to a new auto insurance company?
You can switch to a new auto insurance company at any time, but to avoid overpaying or violating state law, you do need to watch out for a couple of things. Car insurance policies are often sold for coverage periods of six months or one year. In some cases, you may be charged a fee if you decide to cancel your insurance policy early. You may also be entitled to a refund for the unused portion of the premium. You also want to make sure you have continuous coverage to avoid a coverage gap.
What Is Car Insurance All About?
Car insurance is a contract between you and the insurance company with terms where they will compensate you for financial losses of various type such as being involved in an accident, or if your car is stolen. The financial losses include not only your losses, but also losses suffered by other parties involved in the accident. Plus, it typically covers your medical expenses (and if you caused the accident, that of the other party as well) up to the amount set out in the contract.
Why Do You Need Car Insurance?
The first reason is to protect yourself against the financial losses that often result from being involved in an accident. After your home, your car might be your biggest asset. Losing it can be a costly and traumatic exercise. And things just get worse if you caused the accident and the other driver’s insurance sues you.
How Much Coverage Do I Really Need?
The state required minimum amounts of coverage are often not enough to cover the needs of the average car owner. That is why we recommend significantly higher limits to provide better protection against judgments and legal fees. If you have insufficient liability coverage, you might personally have to pay for the other driver’s property damage, medical expenses, and even lost wages.
We recommend the following liability limits:
- $250,000 for bodily injury or death to any one person in an accident;
- $500,000 for bodily injury or death to all persons in any one accident; and
- $100,000 for property damage in any one accident.
Collision Coverage
If your car is financed or leased, you will likely be required to carry collision coverage. While that isn’t the case if your car is fully paid for, it is nevertheless highly recommended to protect yourself against the financial losses that will nearly inevitably come with a collision.
Comprehensive Coverage
While comprehensive car insurance isn’t required by law, we highly recommended it because it covers losses and damages linked to non-collision issues such as theft or if you hit an animal such as a deer. Without this coverage, you will most likely end up paying for all the damages out-of-pocket.
You should be aware that a deductible applies to collision and comprehensive coverage. Make sure the amount of this deductible is not more than what you will be able to pay in case of a claim. Higher deductibles typically come with lower premiums, while lower deductibles come with reduced financial liability in case of an accident – but the premiums will typically be higher.
Medical Payments Coverage
Should you or your passengers get injured in an accident, medical payments protection of at least $5,000 will help. Given the cost of medical expenses in today’s world, we are sure that you will agree that it’s better to significantly increase this amount of coverage.
Towing And Roadside Assistance
Many readers might not be aware that the majority of car insurers offer some or other type of roadside assistance coverage. This typically comes with around-the-clock protection so you don’t have to worry next time you have a flat tire or lock yourself out of the car in the middle of the night. You may also benefit from having towing coverage to cover the cost of moving your car to the nearest repair shop in case of a breakdown or similar covered event.
Alternative Transportation If Your Car Is Damaged in An Accident
If you get involved in an accident it can take days or weeks for your car to be repaired. The cost of renting a car for the whole period can soon run into a small fortune. That is why we include rental car coverage on your policy. Please note that there is normally a limit to how much the insurer will pay out per day and for how long it will do so.
Working With An Independent Insurance Agent Like Superior Insurance Is A Good Choice
As we mentioned in the introduction, people don’t all have the same insurance needs. Neither are all insurance companies the same. So there’s no reason to assume that a specific insurer or an agent working only for that firm will necessarily be able to meet your needs at the lowest possible cost.
An independent insurance agent like Superior Insurance is able to use its experience and industry knowledge to link any car owner with the insurance company that has the best products to meet his or her specific needs – at the right price. Independent agents have no bosses to please except you, so your needs are much more likely to be prioritized.
